New Features - February 2020 Release (06/02/2020)

New Features


  1. Sign in with Google: It’s hard enough these days remembering individual usernames and passwords for each account. BGL has now allowed you to use your Google Account to sign into Simple Fund 360. Sign in with Google leverages all of Google’s security features.

  2. Sign in with Xero: Allows users to sign into Simple Fund 360 using your Xero Account. Sign in with Xero leverages security features including two-step authentication, anomalous login detection, email address verification and more.

  3. Workpapers: You can now export Workpapers and all Supporting documents as a single PDF. Three options are available from the Export Menu:

    • Export Workpapers: Exports Workpapers and all source documents as a Single PDF
    • Export Workpapers only: Exports Workpaper templates as a single PDF. No Source documents or reports are exported.
    • Export Documents only: Downloads all source documents and reports as a zip file.
  4. Workpapers: All PDF documents can now be previewed on screen without having to download the document.

  5. Digital Signing: BGL empowers you to sign, send and manage your compliance documents anytime, anywhere, on any device. Check out the latest developments in Simple Fund 360 that allow you to digitally sign documents and puts you one step closer in becoming a paperless office.

  6. Reversionary Beneficiary Pension Wizard: With all the compliance surrounding reversionary pensions, we’ve made the process easier with a built-in guide accessed directly from Simple Fund 360.

  7. Integration with Topdocs: Users have the option of having SMSFs automatically created in Simple Fund 360, including all fund, member and trustee details, when establishing an SMSF through Topdocs.

Improvements


  1. Workpapers:

    • The Lead Schedule now features an overall status for the Financial Year, located at the top of the screen. The statuses that will display are Not Started, In Progress, Ready for Review and Completed.
    • Reports and Documents will now be displayed in one section on the workpaper for an individual account. Reports will display first and labelled with a tag.
    • Each Workpaper table now has the ability to show all rows rather than paginate results
    • Each Workpaper table now displays a sub-total.
    • When Creating Workpapers, all documents from previous Financial Year will automatically be attached for Permanent Documents and Estate Planning.
    • New checklist items have been added to ‘B – Permanent Documents’ for Super Fund Lookup and ABR with links to the relevant websites.
  2. Common Report Settings:

    • A common report setting has been added to the reports screen, giving users the option to display the middle name of the contact in reports.
  3. Transaction list:

    • In the more details section of a Pension Payment, the PAYG will now be displayed regardless of the member’s age.
    • Upon entering a transaction, when the user selects the Post & Copy button, it automatically highlights the date field when loading the next transaction.
  4. Reversionary variables added to custom reports and custom letter 1 and 2:

    • When preparing a custom report, or a custom letter 1 or 2, the following new Reversionary Pension variables can be added:
    • Reversionary Beneficiary account balance, taxable balance and tax-free balance at 01 Jul or at Reversion date if reversion was processed in the current reporting period.
    • Name and account code of the original pension member prior to reversion (Deceased member name).
    • Reversion date of reversionary pension.
  5. Smart Matching:

    • A pop-up warning message will appear when the user attempts to leave the split transaction screen with unsaved changes.
    • When smart matching transactions with multiple entries, users will be shown Review rather than Match. Users will be directed to the Transaction List upon clicking the Review button.
  6. Registry Data Service:

    • When a new investment account is created and the default HIN automatically attached, we now also automatically request balance data for the past four quarters

    • Administrator users can now remove balances that have incorrectly imported into SF360 due to the wrong HIN/account details having been entered

  7. BGL XML Import:

    • Users can now enter Cryptocurrency transactions as an investment transaction, account code 70040, when using the BGL XML import spreadsheet.
  8. Property Dashboard:

    • The ability to update the Valuation and source directly from the property dashboard has been added.
    • Improvements have been made to locate properties on the map from the Property Dashboard.
    • Validations have been updated to enable a user to set certain valuation dates.
  9. Fund Workflow Display:

    • A summary of Reversionary Pension information can be displayed in the Fund Workflow page for relevant funds.
    • Concessional contribution cap to display in the Fund Workflow page will include unused concessional contribution cap brought forward from previous years.
  10. UI changes for Mobile App:

    • Pension Account, Member Allocation and Dashboard page will display member minimum/maximum/drawdown all as “N/A” if a member has beneficiary pension accounts only.
    • Pension Account and Member Allocation page will hide the progress bar for beneficiary pension accounts.
    • For members who passed away, the date of death will be displayed right after the date of birth on Pension Account page

Errors Corrected


  1. Depreciation Schedule: When calculating depreciation for non-unitised investment under the prime cost method, the depreciation amount can now be automatically calculated.

  2. Unrealised Capital Gains Reports: Non-Unitised Investments are now excluded from Unrealised Capital Gains Reports so that CGT Cost Base can be reconciled with Cost.

  3. Engagement letter 2019: The template of Engagement letter 2019 has been updated, so that users no longer need to manually update the financial year-end in the letter.

  4. Workpaper: Reinvestment Residual Account and Interest Receivable Account would now be displayed under “Other Assets” on Accounting Workpaper.

  5. Pension Continuation Letter: The letter will now come from the Trustee instead of fund members.

  6. Pension Commencement Letter and TRIS Conversion Letter: The letter will now be addressed to the Trustee instead of fund members.

  7. Smart Matching: Some users have experienced issues with selecting the prompted option in the description when entering the Data Entry Spreadsheet. This should no longer be an issue.

  8. Contract Notes with Kodari Securities: Users may have experienced issues with Broker Kodari Securities after their contract notes template changed. This issue has now been fixed and any failed contract notes will be reprocessed.

  9. Wrap Feed Setup: Multiple bank accounts can now show data feed providers with balances even when that particular bank account is not directly attached in the wrap feed setup.

  10. Document Footer: Document footer will no longer appear in the middle of the document list screen.

  11. Centrelink/DVA Schedule: The field will now only display blank instead of showing “variable does not exist” when Contact Phone Number is not filled in.

  12. Property Value for different time zones: When clients not in Australian Eastern Standard Time Zone added valuation for a property under Property Dashboard, that valuation may not be captured in investment reports. Now this issue has been fixed.

  13. Property Rental Statement: If there is no rental income for a particular property, when that property is selected, the “Rental Statement” button will now be disabled instead of having rental statements for all properties generated.

  14. Investment Movement Report: When investments are fully disposed of, “Cost” under Closing Balance in Investment Movement Report will now display nil, instead of showing some remaining value after decimal points.

  15. Report Name Update: For “Statement Of Taxable Income”, it will be shown as “Statement of Taxable Income” to create better user interface.