New Features February 25/02/2021

New Features


  1. Previous Years & External Contributions: Users can now add historical contributions and contributions made to external funds under Members List and Contributions Dashboard.

  2. New Feed: BGL have will now support the DomaCom Wrap Feed, which will import property-managed fund data on a daily basis.

  3. Transfer Balance Account Report Declaration: A new report has been added for Digital Signing.

  4. Lodgement Status Report: New features added allowing CSV export, report customisation, and Financial Year selection.

  5. Lodgement API: lodgement data is now available for API users to search on a firm level.

  1. Accounting Profit Distribution: Trusts can now have tax components further allocated among beneficiaries on screen.

  2. Beneficiary Distribution Summary Report: A new report has been added for trusts.

Improvements


  1. Contributions Caps will now take into account unused concessional cap (for the purpose of the 5 year carry forward unused cap) from previous years by reading the Member Service Period Start Date.

  2. Corporate Actions: We have added 8 new corporate actions:

    Code Company Type
    GSW.AX Getswift Limited Takeover / Merger
    EAF.AX Evans & Partners Asia Fund Code/Class Change
    EGD.AX Evans & Partners Global Disruption Fund Code/Class Change
    EGF.AX Evans & Partners Global Flagship Fund Code/Class Change
    DWS.AX DWS Limited Takeover / Merger
    PGR.AX The Pas Group Limited Takeover / Merger
    CIE.AX Contango Income Generator Limited Takeover / Merger
    CDV.AX Cardinal Resources Limited Takeover / Merger
  3. Distribution Tax Automation: Distribution Tax Data for 2020 Financial Year has been added for Centuria Capital Group.

  4. Feeds: St. George loan accounts with BSB beginning with ‘3’ are now supported via the BGL Bank Data Service. To review a complete list of supported accounts Click Here

  5. Investment Dashboard: Max time period button has been added to the Dietz Performance tab.

  6. BGL Engage Mobile App: Users are now able to view external contributions added from the Contribution breakdown.

  7. Feed Management Provider Settings: Simple Fund 360 will now prevent the same credentials from being entered multiple times into the same firm.

  8. View Losses Tab: Update the wording in the view losses tab to show “as at” currently reported “as 30 June.”

  9. Fund Transfers: External Contributions will now be included when processing a fund transfer.

  10. Depreciation: Improvements have been made to the Depreciation Worksheet Asset Write off.

  1. Feed Management: License Report will now support Simple Invest 360. The report will outline usage and a license summary breakdown for each entity type.

  2. Chart of Accounts: New More Details Panel for Distributions Paid to Beneficiaries.

  3. Reserve Allocations: Improved ability to adjust profit available for distribution against reserve account.

  4. Profit Distributions: More Details panel added for tax components under beneficiary distribution transactions.

Errors Corrected


  1. Fixed: The figures displayed along the ‘Total’ line in the Contribution Breakdown Report now display with two decimal places.

  2. Fixed: When posting a transaction using the Journal option in the Distribution Tax Automation screen, users are now directed back to the Transaction List.

  3. Fixed: If a company is selected as a Lodging Party then that relationship is now reflected in the Contact Usage tab. If a user wishes to delete the company, then instead of the Lodging Party screen becoming corrupted, users will now be prompted to remove this relationship prior to deletion, which will avoid the screen corruption.

  4. Fixed: When creating a matching rule, users will no longer receive an error message when updating the allowed Entity types.

  5. Fixed: Matching rules with a dollar amount allocation are now working correctly.

  6. Fixed: When a Xero feed has been authorized, the feed now loads correctly when there are dates entered into the ‘Do not import data before’ and ‘Do not import data after’ field.

  7. Fixed: The Lodgement Status report now allows for users to select a report date.

  8. Fixed: Within the Tax Compliance screen, Section C – Tax losses deducted is now calculating correctly.

  9. Fixed: Within the Badge Settings screen, under Default Relationships, when the contact lookup is used, the scroll bar for the screen no longer disappears.

  10. Fixed: For custom pools and low-value pools, depreciation is no longer calculated when an asset has been written off.

  11. Fixed: All fields will now appear when the Accounting Performance report is prepared in a Word Document format, as they do when the report is prepared as a PDF.

  12. Fixed: When preparing the TBAR Lodgement Status report in Excel format, an error message no longer displays.

  13. Fixed: The ability to create a contact with a ‘Member’ relationship has been removed.

  1. Fixed: The label in which the LIC deduction amount appears within the Tax Reconciliation report for Trusts has been updated.

  2. Fixed: Rounding errors in the Statement of Financial Position and Operating Statement have been corrected.

Integrations


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SMSF Foundations Course: BGL has partnered with Smarter SMSF to provide an online course for its clients to access through the BGL learning channel to grow your knowledge in the area of SMSFs. Join us for this webinar, where Aaron Dunn & Anthony Costa will take you through the details of course, who the course has been built for, available CPD hours and roadmap for future development.