Xero launches 'Personal' service

The small business accounting software provider has extended its services into personal finance management with 'Xero Personal'.

Xero has said that its new product offers a complete view of personal finances and that customers will be able to see all their bank accounts in one place; accurately track where their money is going; set savings goals and monitor the progress.

"For customers who use Xero’s online business accounting service, Xero Personal will give them the ability to lodge and track business expenses - paid for from a personal account or credit card, directly back into Xero,” explained Xero CEO, Rod Drury. "We’ve been able to leverage our existing platform investment to extend our suite of tools, from small business accounting through to personal finance.”

Xero Personal is also designed to help small business owners who "blur their personal finances with their business finances,” said the firm. The software is available globally but to develop the product in the New Zealand market the company teamed up with BNZ.