Xero

PORTFOLIO TRACKER AND XERO & SETUP

Real Estate Investar wants to ensure all of our members take advantage of Xero integration. So if you hold your investment properties in only your own name, or only in a single company or trust structure, that's all you need to get going with Xero. Ensure you have these entities set up in Portfolio Tracker as well.

If you have multiple entities or ownership structures across your portfolio, you may require multiple Xero Organisations to match. Speak to your accountant or financial advisor about what is right for you.

Additional Organisations can be purchased via Xero directly. Real Estate Investar integrates with both Cashbook and Business versions of Xero. If you require the ability to track GST and complete BAS statements, you will require a GST Cashbook or business version of Xero.

If you plan to run your company or business through Xero, in addition to your investment properties, there is a business specific version available for that purpose. This is only applicable when you require payroll, payables, receivables GST etc. (items related to commercial business operations). You can see the pricing and options at www.xero.com/nz/pricing. You will need to organise a Business version directly with Xero, your Accountant or Financial Advisor.

WHAT IS THE SET UP PROCESS?

Xero requires configuration to your unique circumstance.

Each investment property held within each Organisation will need to be configured, along with any relevant bank accounts, credit cards or mortgage loans.

Once set up you will have real time tracking of your property portfolio and you will be able to start reconciling transactions and develop an in-depth understanding on where you are positioned from an equity and cash flow position. Portfolio Tracker will be integrated with Xero as part of the setup process.

To get started with Xero, you first need to ensure you have your entities created in Portfolio Tracker, as well as any properties held by them.

An overview of the process:

1. Create your entities and properties in Portfolio Tracker.
2. Add your properties under "My Properties"
3. Click "Connect with Xero"
4. You then need to enable your bank feeds with your financial institution(s).

Setting up the bank feeds can take up to 10 days.

Once ready, you will need to reconcile your transactions, and capture any that are missing back to the start of the financial year. For assistance, you can visit https://help.xero.com/nz/GettingStarted for detailed instructions.