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BGL integrates with Syla to automate crypto transaction data

April 3, 2023

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
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BGL Corporate Solutions (BGL), Australia's leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, is proud to announce its Simple Fund 360 and Simple Invest 360 solutions are now integrated with Australian cryptocurrency tax software, Syla, to automate cryptocurrency transaction data for SMSF, company, individual and trust portfolios.

"We are excited to add Syla to the BGL Ecosystem," said Ron Lesh, BGL's Managing Director. "The integration allows BGL clients to easily sync their clients' crypto transaction data from any digital currency exchange connected to their Syla account directly into their Simple Fund 360 and Simple Invest 360 software."
"With 1 in 4 Australians investing in crypto, it's becoming more challenging for accountants to get the compliance work done, particularly when investors could be using any crypto exchange,” added Lesh. "A single portfolio could have hundreds or even thousands of crypto trades. Integrating Syla will automate the journal entry process for every crypto purchase and sale, saving BGL's Simple Fund 360 and Simple Invest 360 clients significant time and effort."

Nick Christie, Co-Founder of Syla, said: "A portfolio with crypto investments could be a bit of a trauma-inducing experience in the past, particularly when it came to compliance work. The tedious entry of manual journals for every crypto purchase and sale surely sent many accountants close to madness. With the launch of this integration between Syla and BGL, we've really flipped the experience entirely around. Manual journals are out, and instant sync is in. BGL clients can now sync all crypto trades, income and other transaction data from any crypto exchange into their Simple Fund 360 and Simple Invest 360 software, ensuring the compliance work can be easily sorted."

BGL's free and open API is highly regarded and used extensively across the industry, with 350+ data feed and integration partners in the BGL Ecosystem delivering a holistic experience to BGL clients.

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