New Features - April 2020 Release (02/04/2020)

New Features

  1. 45 Day Holding Rule: A new column has been added to the Investment Income Comparison Report. The Report will now display the number of units that have qualified for the 45 day period holding rule and are therefore entitled to franking credits.

  2. Crypto Platform ‘Cointree’ Integration: Users are now able to download a transaction file from Cointree’s platform and directly import into Simple Fund 360 using the BGL File Import.

  3. Mobile – Investment Detail Page: Review your investments in greater depth with a new investment detail page added to BGL Engage.

  4. Fund Workflow: The pension calculations in Fund Workflow related to the 2020 financial year (FY) has been updated to display maximum as “N/A” for the pension types not supported.

  5. Minimum Pension calculation: The minimum pension calculations has been adjusted over 2020FY and 2021FY amid COVID-19

  6. New Report - Pension Payment Declaration: A Pension Payment Declaration Report will be created, displaying pension payments. There will also be an option for the member to sign.

  7. New Report - Investment Performance – Time Weighted Return: A report created based on Investment Performance using the Time Weighted Return % for calculation.

  8. Workpapers - Email notifications (Reviewer and Preparer): A Notify button has been added to the screen, enabling the user to send an email to the preparer or reviewer letting them know that the fund is ready for the next process of the review. The following email notifications can be sent:
    Preparer: Rework Required,
    Reviewer: The fund is ready for review / Rework Required. Review again.

  9. Workpapers - API notifications for the Auditor: The user is able to send a notification to the fund’s auditor that the fund is ready for audit. For this to take place the auditor must use an Audit Application which has been set up to receive these messages via our API.

  10. Workpapers - General Ledger reports: A General Ledger report for a specific account, for example 30100 will be generated and attached to every account which does not generate any other report.

  11. Workpapers - Attached Documents: Documents attached to Transactions, the Property Dashboard and the Distribution Tax Automation screen will be imported into Workpapers when generated. The Documents will be attached to the non-bank accounts listed on the transaction.


  1. Workpapers: We have revamped and updated some of the User Interface. “Export Workpapers only” function has been updated to “Export Schedules Only”.

  2. Workpapers: Export Sub-totals are now included when a PDF is created.

  3. Mobile: In the latest update we have improved the ability to navigate the Menu faster with several layout changes.

  4. SuperStream: We have added the ability to filter on SuperStream data when processing a contribution. This can be done by accessing the More Details Panel for account 24200/MemberCode and selecting the SuperStream Data button.

  5. Fund Transfer: When preforming a fund transfer, digitally signed documents with a status set to Signing, Signed, Declined or Voided will not be transferred to the new firm due to privacy.

  6. Digital Signing: The following reports can now be digitally signed in Simple Fund 360:

    • Work Test Declaration
    • Trustee Representation Letter 2019
    • Pension Commencement Letter Confirmation
    • Pension Commencement Letter
    • Pension Commencement Minute
    • Pension Continuation Letter
    • Pension Continuation Minute
  7. Statement of Financial Position: The ability to combine all member accounts on a single line in the Statement of Financial Position is now an available option.

  8. Member Allocation Worksheet: Simple Fund 360 will now provide you with the ability to process mathematical calculations in all the editable allocation fields

  9. Depreciation Schedule: When an asset has been set to No Depreciation, then the asset will not show in the Depreciation Schedule.

  10. Investment Strategy: Simple Fund 360 will provide you with a default Investment Strategy template which is generic in nature and covers aspects of diversification and liquidity. Help has been added to inform users on how to customise the Investment Strategy template provided in Simple Fund 360.

  11. BAS/IAS: Improvements have been made to better track lodgements and validations for BAS and IAS forms.

  12. Tax Compliance: Validation and Lodgement Screens have been updated to reflect recent changes surrounding lodgement and MYGovID.

  13. SMSF AR: Improvements have been made to Section F & G. In certain circumstances Label Y will populate as $0.00. Changes have been made to correct this.

  14. The Fund selector Widget has been upgraded, to handle both SMSF and non-SMSF entities.

  15. Smart Matching: When using Fast Data Entry, you can now select one line by clicking on the left side of the reference number.

Errors Corrected

  1. Distribution components for MGR.AX has been updated so that AMIT cost base decrease will now be correctly recorded.

  2. Investment (Dietz) performance under Investment Dashboard did not display bar charts that were reflecting the market value movement only when using Internet Explorer web browser. This has now been fixed.

  3. Improvements have been made to the search results returned when looking for a specific asset to add to the Depreciation Schedule.

  4. Contribution reserve: The reserved contribution recorded in the previous financial year will appear under the other contribution account in the Accounting Workpapers for the next financial year, resulting in an imbalance. This has now been fixed.

  5. When generating investment performance report in Excel, the sales/reduction figure was not taken into account, resulting in inaccuracy. This has now been fixed.

  6. When the total ECPI has been calculated to equal $0.00, the report will not display correctly when sent through DocuSign to be digitally signed. This has now been fixed.

  7. Projected Pension Calculation Report: When the payment frequency has been changed from yearly, the Projected Pension Calculation Report will still report as yearly. This has now been fixed.

  8. Trustee Resolution template was missing a space between first name and surname for the field of Auditor and Tax Agent. This has now been fixed

  9. Statement of Taxable Income: Formatting issues have now been resolved when exporting to Excel

  10. SMSF Audit Report has been updated to be consistent with the ATO template.

  11. Members summary report: Occasionally the total amount will be incorrectly calculated, this has now been resolved.

  12. Contribution Summary Report: Formatting improvements have been made when customising the report and inserting a logo.

  13. Income Comparison Report: In certain scenarios income incorrectly displays as unreconciled. This has now been resolved.

Coronavirus Economic Response Package

The Simple Fund 360 team has been working through the recent Coronavirus Economic Response Package. We are conscious that you may be receiving queries from trustees wishing to review their pension payments and also firms looking to implement possible strategies before the TBAR Lodgement dates. We have therefore broken the changes down into two stages. With Stage 1 now complete.

Stage 1 - Focuses on being able to perform bulk reviews of all your fund’s Account-Based Pension, TRIS and TRIS (Retirement Phase) minimums and ensuring your mobile clients can also self-review any current drawdowns

Stage 1 changes - Now released, include :

  • Update the Financial Year from 2019FY to 2020FY for the Analytical Insight, Fund Workflow and Export to Excel functions for Account-Based Pension, TRIS and TRIS (Retirement Phase)
  • Implement the new Coronavirus 50% reduction to the minimum pension for 2020 Financial year for the Analytical Insight, Fund Workflow and Export to Excel functions.
  • Implement the new Coronavirus 50% reduction to the minimum pension for 2020 Financial year for both the IOs and Android version of the Engage by BGL Mobile Application.

Stage 2 - Will focus on Financial Reports and more complex pensions such as Market Linked Pension

  • All Pension reports including Pension Summary Report, Pension Payment Declaration, Pension letter and minutes to be updated for new 2019-20 and 2020-21 minimums.
  • Update to Pension Minimum mail merge fields.
  • Pension Dashboard will be updated for Account-Based Pension (including TRIS accumulation and retirement phase), Allocated Pension and Market Linked Pension. Complying Pension will not be updated.
  • Update to Pension Summary API.
  • Temporary Early Release of Superannuation - required changes to be implemented as more information is released by the ATO. For further information, please refer to the following links: -
  • Ability to add a custom note to the Financial Statement for clients who wish to include the impact of COVID-19 on the Notes to the Finacial Statements.
1 Like

Thanks for updates all the time, greatly appreciated! A question on workpapers, is there any agenda to put a journals worksheet in - so that I don’t have to keep a separate document with a record of journals prepared? Even if we can prepare the journals in workpapers, and then push to the ledger?

Hi John,

We didn’t have short term plans for this however if you would like to email me ( with what your after we can chat about this more.



Can you please look at the Investment Performance Report again.

I would have thought the %Return would be = Income & Market Gain / (Opening Value + Purchases - Unrealised Market Gain).

It seems to be currently calculating = Income & Market Gain / (Closing Value - Unrealised Market Gain)
i.e. the cost of the investment held at the end of the year as opposed to the investment they held during the year…& it results in some extreme percentage values.

A Guide to Calculating Return on Investment (ROI).

Many thanks,