Investment tracking is a crucial aspect of managing your financial portfolio. While many investors rely on Microsoft Excel to track their investments, the era of cloud-based software has ushered in a new age of seamless and efficient investment tracking. Cubis, a cutting-edge investment tracking software, offers significant advantages over Excel, making it the perfect choice for managing your private and publicly listed investments, and soon, real estate investments as well. In this blog post, we explore the key benefits of using Cubis Investment tracking software compared to Excel.
Cubis offers both manual and automated data entry. While private investments still require manual data entry, public investments can be automatically updated through a data feed from your broker, saving you time and effort while reducing the potential for human error. Real-time updates on your investments with Cubis allow you to spend less time inputting data and more time analyzing your investments, enabling you to make better, data-driven decisions.
Cubis provides an easy-to-read snapshot of your investment portfolio, highlighting its performance compared to last year using metrics such as multiple of cash and time- weighted internal rate of return (IRR). In addition to tracking realized and unrealized gains, dividends, interest, and fees, Cubis also allows you to compare your assets and identify your top and bottom investments.
With Cubis, you can compare your investment performance against benchmarks like ASX200, NASDAQ, Dow Jones Industrial Average, and S&P/ASX Emerging. This feature is not readily available in Excel, which requires manual input and calculations to arrive at such comparisons.
Cubis simplifies the recording and tracking of more complex transactions, such as convertible notes and dividend reinvestment programs, which can be challenging to manage in Excel.
Understanding your investment portfolio's performance and any realized or unrealized gains is crucial for making informed decisions at tax time. Cubis makes it easier to optimize your tax position by providing a clear view of your investments performance, ensuring you have the necessary information to make strategic decisions that can reduce your tax liability.
Keeping track of investment documents can be a hassle if you rely on Excel to track your performance. Cubis simplifies document management by providing a centralized, secure location to store and access your investment source documents. This not only streamlines your record-keeping process but also reduces the risk of misplacing important documents.
Cubis offers seamless integration with your Xero account, allowing you to easily sync your financial data between the two platforms. This feature is not available in Excel, which often requires manual data transfers and duplicate entries, leading to potential errors and inefficiencies.
Cubis provides an auditable record of your investment transactions, ensuring that your financial records are accurate and up-to-date. For every data entry, you have a record of who made it, and when. With Cubis, you can rest assured that your investment records are stored in a secure, cloud-based environment.
Cubis Investment tracking software offers significant advantages over Excel, making it the superior choice for managing your investments. From streamlined data entry and benchmark comparisons to simplified management of complex transactions and tax optimization, Cubis provides a comprehensive and user-friendly solution for tracking your investment performance.
We would love to show you how Cubis can simplify your investment management.
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