New Features August 18/08/2022

New Features


  1. The Entity Dashboard, which provides a complete entity overview, now displays even more information including:

    • Lodgement Status (SMSFs and Trusts)
    • Corporate Actions Status (All Entities)
    • Distribution Tax Automation Status (All Entities)
    • Superstream Status (SMSFs only)

These statuses will be effective for the current Financial Year of the Entity.

  1. New Report: Tax Reconciliation Summary Report – A condensed version of the Tax Reconciliation Report.

  2. New Feed: IOOF Group has been added to the Wrap Feed service. To review a complete list of supported wrap feed click here.

  1. Custom Reports: six new merge fields have been added for custom letters:

    • ESA from Fund Details
    • Notes from the Fund Dashboard
    • Carry Forward Capital Losses from the prior year
    • Net Capital losses carried forward to later years
    • Director ID
    • SMSF Expert from Fund Relationships
  2. Superstream Dashboard: The Superstream Dashboard screen has been updated to show more details, including:

    • Fund Code
    • Transaction Type
    • Transaction Status
    • Days Outstanding

  1. Share Trading Entities are now supported! This can be enabled via the Entity Details screen.

  2. Reports: To complement Share Trading Entities, the following reports have been added:

  3. Reports: The following new reports have been added for Companies:

Improvements


  1. Corporate Actions: Support has been added for the following corporate actions in Simple Fund 360 and Simple Invest 360.

    • Date ASX Code Type
      19/07/2022 AGS Takeover
      28/07/2022 IAP Takeover
      02/08/2022 CWN Takeover
  2. Feeds: The provider name has been updated from Crestone Wealth Management Limited to LGT Crestone Wealth Management Limited.

  3. Documents: You will now be able to upload documents to previous financial years.

  4. SmartDocs by BGL: Improved matching algorithm for Bendigo Bank

  1. Reports: The pension end date has been added to the Pension Summary Report.

  2. Wind up fund: a Create Entries alert has been added for the Wind-up process where a fund is also SuperStream registered.

  3. Fund Transfer: Now exports PAYG Payment Summary records through Fund Transfer

  4. PAYG Payment summary: Income Stream payments will now also pick up members with a Transition to Retirement Income Stream (TRIS).

  5. PAYG Payment summary: Grouping of CDBIS and Non-CDBIS accounts for members turning 60

  6. PAYG Payment summary: improved validation messages for lodging party, member and trustee information.

  1. Operating Statement: Section “Transfer to Reserve” on the Operating Statement & Detailed Operating Statement will now show before “Net Profit Before Distributions”.

  2. Trust Return: New tax label added for Trusts: “Other Sales of Goods and Services”

  3. Operating Statement: Several improvements have been made to the Operating Statement to better account for Trading Entities.

Errors Corrected


  1. Fixed: Incorrect contract note mismatch in Licence Report due to case sensitivity.

  2. Fixed: BT Panorama error where AMIT amounts were included in the Tax-Exempt field, causing reconciliation issues.

  1. Fixed: Create Entries deferred tax calculation when investment is part of a hybrid pool.

  2. Fixed: Rounding in the Deferred Tax Reconciliation Report.

  3. Fixed: Tax Reconciliation report failing to generate due to large number of transactions.

  4. Fixed: PDIT calculation incorrectly applying depreciation.

  5. Fixed: Non-dependant or Trustee Death Benefit payments under the PAYG Payment Summary – Superannuation Lump Sum will now pick up both taxed and untaxed elements regardless of age.

  6. Fixed: PDF changes made to the Non-dependant or Trustee Death Benefit payments under the PAYG Payment Summary – Superannuation Lump Sum.

  7. Fixed: PAYG Payment Summary – Superannuation Income Stream issue with CDBIS age not updating correctly.

  8. Fixed: SuperStream Rollover / Release Authority Report will now display the header date based on the transaction date.

  1. Fixed: Declaration of Distribution did not display the custom text entered in settings, when the report is produced under custom Badges.

  2. Fixed: Label L of the Trust Tax Return picked up incorrect items.

  3. Fixed: Error regarding Financial Year in Entity Details not matching Financial Year in Period Compliance.

  4. Fixed: Account View will now return transactions against the 58300 – Subscribed Units account.