New Features August 19/08/2021

New Features

  1. This Olympic season, we’re set to break our own record, as we introduce yet another method to enter your investment history. Directly from the Smart Docs – CGT screen, use quick data entry to record an infinite number of investment parcels. Just another tool in the kit to improve your efficiency!

  2. Start leveraging the combined power of Simple Fund 360 & Smarter SMSF to order the below SMSF compliant documents, available today!

    • Investment Strategy Review Statement
    • Investment Strategy - Asset Concentration Minute
  3. Rental Property Investments now includes a property count checkbox in the more details panel of the account. This allows the correct units to populate to the right tax label, in the 2020 SMSF Tax Return and onwards.

  1. On the roadmap to Tax Return victories, Simple Invest 360 advances forward with the newest addition – The Tax Label screen! Now available for Companies and Trusts, easily adjust tax labels for accounts processed within the current financial year.

  2. This Olympic season, we’re set to break our own record, as we introduce yet another method to enter your investment history. Directly from the Smart Docs – CGT screen, use quick data entry to record an infinite number of investment parcels. Just another tool in the kit to improve your efficiency!


  1. BAS/IAS Lodgement Declaration: Ability to dynamically change the header wording based on the reporting period.

  2. Depreciation Screen: Add Link to the Guide to depreciating assets help file for 2021

  3. API: Detailed Operating Statement

  4. Depreciation: Improvements in the Prime Cost Method calculation including the check of the Opening Written Down Value.

  5. Detailed Investment Strategy Comparison Report: Updated the Excel Export to the new format.

  6. Entity Dashboard: Entity code added to entity dashboards

  7. Transaction Matching: Automatically switch off matching rules if any account in the rule is set to Inactive.

  8. Smart Matching: Clicking the bank info icon, will now also copy the BSB & Account Number to the clipboard.

  9. Corporate Actions: Merger/Takeover added for VOC.AX, TLT.AX and BIN.AX.

  10. Mail Merge field added for current members first name and surname.

  11. Distribution Tax Automation: Additional Investment data added for 2021 Financial Year.

  12. Members Statement / Consolidated Members Statement: Added new report setting Display Nominated Beneficiaries .

  1. Report Calculation Improvements to cater for new tax labels.

  2. Portfolio progress report: Nil columns will not be included in the report. The reporting period will always begin from the first non-zero period.

  3. Setting up companies from CAS 360: ABN imported from CAS360 when setting up a company in Simple Invest 360.

  4. Statement of Distribution report can be generated from the View Tax reports page.

  5. Statement of Taxable Income: New Tax Offset Refunds Line added to the Statement of Taxable Income.

  6. User Roles: For new firms, Notes Authority will now be switched on by default in the user roles (except for the Custom and Trustee roles).

  7. Entity Dashboard: Investments will now display as the full name of the investment. To view the investment code, hover your mouse over the investment name.

  8. Reports: Improvements to logo set at badge level. The logo will auto adjust to a standard size for all reports.

Errors Corrected

  1. Fixed: In the first year of having turned on Tax Effect Accounting, the prior year tax-deferred amounts now show in the Tax-Deferred Reconciliation report.

  2. Fixed: When using the Fund Transfer feature, the feature no longer times out when transferring an excessively large number of transactions.

  3. Fixed: The following reports can now be generated in XML format in the new Reports Screen without issue: General Ledger, Trial Balance & Transaction List.

  4. Fixed: Within the Transfer Balance Dashboard, when clicking on TBA settings, if the member has a ceased date, you will now still be able to see their external account number.

  5. Fixed: Within the new Reports Screen, when typing ‘GST’ into the search bar, the Activity Statement Preparation report and the Detailed Activity Statement Preparation report will now appear.

  6. Fixed: Custom accounts are no longer multiplying in the Operating Statement when ‘Apply to all funds’ is selected as ‘yes’.

  7. Fixed: General Ledger Audit View report - when long transaction descriptions have been entered, they will now display in the report.

  8. Fixed: When an investment has a unit balance that begins with two zeros behind a decimal point [e.g., .0023], this investment will now appear correctly within the Accounting Performance report and the Investment Movement report.

  9. Fixed: Both system and custom report versions of the Work Test Declaration report will now appear separately in the new Reports Screen.

  10. Fixed: When the User Role setting – ‘Badges’ has been turned off, the user will now still be able to see the badges the firm has and be allowed to select those badges to prepare reports. They just won’t have the option to ‘Add New Badge’.

  11. Fixed: The implementation date of the Corporate Action – ‘WOW/Endeavour Group Demerger’ has been updated to 01/07/2021.

  1. Fixed: When generating the Unrealised Capital Gains report, the auto-generated file name will now appear as ‘UnrealisedCapitalGainsReport-[Date range]’.

  2. Fixed: When reprocessing year-end workflow in Discretionary Trusts, clients will no longer be prompted to select accounts to move to beneficiary opening balance when receiving the ‘The financial year has been closed!’ error message.

  3. Fixed: When preparing the Distribution Statement report, the calculation for the Franked Distribution column has been corrected.

  4. Fixed: When an invitation email has been sent via the ‘Share With’ function in the Entity Dashboard, the invitation email will now say Simple Invest 360.

  5. Fixed: When preparing a Distribution Statement and the badge settings to hide TFN and/or enhanced privacy is turned off, the report now shows the TFN.

  6. Fixed: When preparing the Beneficiary Distribution Summary report, the Foreign income tax offset column is no longer included in the calculation of the taxable distribution amount in this report.

  7. Fixed: Users can now enter a zero balance for a reserve amount.

  8. Fixed: Within the Franking Account Worksheet, the Franking Credits Received calculation logic has been corrected.