Great app if only...
It would include fixed income and cyptos more widely than it does. As well the app was quite a let down. Room to improve with little effort if the put their minds to it.
Just cant understand the enthusiasm of other reviews for the Sharesight/Xero integration. Its been a real problem for me. The big issues are all the extra work it creates at tax time to reconcile income transactions. Income from funds are a particular problem. the handful of different categories the income needs to be broken down into for the tax return is just not catered for. For the last two years I have had to reverse and renter manually over 80% of transactions to get the books straight. (took about 3 weekends to finish it) The second thing is Xero's integration with NAB does not match the level of integration of sharesight. I have no problem getting buys and sells from Nabtrade loaded automatically into sharesight but Xero doesn't integrate with the Nabtrade accounts. I have turned the automatic integration off now and am looking at Quick books as a cheaper and simpler solution for my SMSF book keeping. Also starting to question the value of Sharesight vs Nabtrade and Comsec.
Sharesight and Xero are a great combination for clients with investment portfolios. Once set up the integration works really well with income flowing from the portfolio through sharesight to Xero. Will save a lot of time in the second year and onwards.
Sharesight even better for tracking investments (all kinds) than Xero is for tracking your money!
We have been using Sharesight and loving the functionality plus the integration to Xero. The only comment I would make is that for not-for-profits it would be useful if withholding tax Sharesight sends through to Xero was derived from the tax setting entered for the organisation rather than just using the default tax withholding rate (which tends to be wrong for non tax payers).
Have use Xero Integrated with Sharesight this year and it saved me heaps of time in Management and reduced the time for my Accountant to so the Annual Tax Accounts. Thank-you. Also, I love the part I can store the PDF with each transaction saving so I can go paperless.