I recently picked up a new client with multiple share portfolios that actively traded positions and had a lot of paperwork to sort over the year, not to mention keeping track of gains and losses for tax purposes.
We moved their portfolio into Sharesight, setting up automated contract note downloads from their broker to the system. We also integrated Sharesight with Xero Cashnbok, resulting in a fantastic automated system which makes reconciling, portfolio performance and tax reporting simple and easy. The costs are very reasonable with Sharesight and Xero Cashbook costing a combined $35 per month.
At the end of the year the Accountant simply logs onto the system and can extract all tax reports and other information as required. Easy for client, accountant and bookkeeper.
It has certainly been a great time saver for me and I will be recommending it to my other clients for their personal portfolios and for their self-managed superannuation funds.