Class’ chief executive, Kevin Bungard, said the integration will provide “significant efficiencies” to accountants and administrators looking after self-managed superannuation funds (SMSFs) and other investment portfolios with property assets.
“Data entry and management of depreciation schedules has always been a time consuming and largely manual task for accountants and administrators,” Bungard said.
“This latest development will greatly reduce the work involved.”
Class was first established in 2005 and is known for its Class Super and Class Portfolio administration software.
The new integration works by allowing Class users to request a depreciation schedule within the Class application, which can be directly uploaded using Class’ interface, and the schedule is automatically populated.
Depreciator chief executive, Hans Dean, confirmed this integration builds on the company’s forays into CSV versions of depreciation schedules.
“With the rise of the SMSF industry, we’re now also making things easier for fund administrators with our instant upload into Class,” Dean said.
“No other provider offers this.”
Depreciator said their recent partnership with Class affirms their commitment to “product development and education”, with the new integration first rolled out in Class’ January release last month.
