Monitoring financials and keeping track of rent payments coming in are aspects of rental property ownership which landlords often struggle with. With all the changes to rental property taxation like depreciation and the LAQC changes and new LTC's it will be more important than ever to keep on top of the financials and budgets to make sure you have sufficient cash flow and plan for taxes before the end of the financial year. The reason landlords and property investors often struggle with this area is that they do not have an adequate system in place. Xero is an ideal solution for property investors whether they are small scale investors with only one or two properties or have large investment portfolios.
Topics: financial report, Firm News, investment property, invoices, online accounting, rental property, xero, accounting, automated bank feed, Blog, deppreciation, income, IRD, landlord, LTC, rent, wise advice, accountant
The move to the cloud is often not a question of if it will occur but more likely when it will occur, for most small businesses. So what is the reason for so many businesses embracing online cloud software?
In the five years Xero has been on the market it has quickly gained a reputation as being the easiest accounting system around. Xero is a cloud based system which means that you can log into it securely from any computer with an internet connection anywhere in the world. It also means you won’t need to buy costly accounting packages and upgrades ever again and it even eliminates the need for backups – if your computer crashes you won’t lose your accounting data! In addition to these practical benefits using Xero has many advantages that can give your business an edge: