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Post Info TOPIC: Xero and Bank Login details for Investors
Zazza79


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Xero and Bank Login details for Investors
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I am a finance assistant and Ive been at my company for 4.5 months. We have a new management accountant due to start soon. Meaning I am currently doing everything finance related for the last 3 months. 

 

We also have an external person who is supposed to be working on a budget system and forecast as we have requested a loan from our investors. This external person have very limited accounting knowledge. But she is the person the investors trust right now but using me for getting all the info to her.  

 

One of my questions she asked today was that I need to give login details to Xero to 2 of the 6 investors and also bank access details. 

Is this something we have to do and does investors need login details to our bank or can this work by sending them regular bank statements. 



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No


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I wouldnt.

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Zazza79


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If its up to me then I wouldnt. Hence why Im asking is it something that I have to do just because they are making investments. I cant see why theyd need bank access or Zero access.

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No


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Are you a director?

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Zazza79


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No Im not. As mentioned. I am currently the Finance Assistant. When I started I had a temp Management Accountant and another accounts person in the office. But they have both left and Im the only person in the accounts office doing everything from receivables to payables to forecasting to payroll.

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No


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Zazza79 wrote:

No Im not. 

 So it is NOT your decision to make.



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Bristolman


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No wrote:

 So it is NOT your decision to make.

 Agree.

 

 

 



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Leger


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Zazza79 wrote:

One of my questions she asked today was that I need to give login details to Xero to 2 of the 6 investors and also bank access details. 

Is this something we have to do and does investors need login details to our bank or can this work by sending them regular bank statements. 

 I would speak to the main director about it, and let them make the decision.

I agree with you that bank statements should be sufficient, and any accounting reports can be printed off or sent by pdf.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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