New Features June 03/06/2021

New Features


  1. Tax Time 2021: What time is it? No Brian, it’s not 10:00am…. it’s tax time!
    It is the busiest season yet, but BGL is committed to making the process easier for you. Finish the financial year strong with these new features:

  2. Detailed Purchase and Disposal Report: A new Investment Report has been added to the list of reporting options that details purchases and disposals without revaluation entries.

  3. Progress Bar Chart: The Progress Report that displays the overall value of an entity over monthly, quarterly or yearly timeframes is now available in Simple Fund 360.

  4. Contract Notes Service real-time trade imports: Transactions and documents will be imported into Simple Fund 360 within minutes of the trade taking place on the broker platform (subject to the immediacy of the broker sending the confirmation email)

  5. AUSIEX: AUSIEX direct feed is now supported. Any existing Commsec Adviser direct feeds will automatically be included as part of the AUSIEX feed.

  6. BT Wrap to BT Panorama Migration: BT has migrated a new batch of BT Wrap accounts to their BT Panorama platform. Simple Fund 360 has automatically created the Panorama feeds for any client/account that has migrated.

  1. Custom reports: A series of mail merge fields for Custom Reports and Trustee Minute templates have been added to Simple Invest 360.

Improvements


  1. Wraps and Platforms: Commsec Retail

    • Balance date will not update more accurately to the date that data is received
    • Fully disposed investments will now show a zero balance
  2. Transaction Matching Rules: Now you can allocate a variable amount (the balance of the transaction) to one of the accounts

  3. Corporate Actions: Coca-Cola European Partners (CCL.AX) merger added as at 11 May 2021

  4. Corporate Actions: WPP Aunz Ltd (WPP.AX) merger added as at 19 May 2021

  5. Transaction Documents API: Improved ability to show accounts where Contract Note PDFs are attached to the transaction.

  1. Trust Reserving: Two new reserve accounts have been added. The Investment Revaluation Reserve (account 58450) and the Capital Loss Reserve (account 58460)

  2. Simple Invest 360 knowledge centre: Top search bar can search between both SF360 and Simple Invest 360 knowledge centres

  3. Income Streaming: Added validation message when there is a negative residual amount for streamed columns

  4. Income Streaming: Improved handling of cases where remaining income is negative

  5. Portfolio Progress Chart Report: Changed the dates on the report to display the end date of each period

  6. Close Period: An error message will display if there is a suspense account balance. This error will check across all years from the entity start date to the Current Financial Year.

  7. Tax time: Tax reconciliation report and Statement of taxable income have been updated for 2021 Financial Year tax return labels

  8. Entity Setup: When creating an Individual entity type, you can select a contact from your contact list to quickly prefill entity details.

  9. Distributions: Added warning message when amount entered into the distribution exceeds distribution recorded

  10. Statement of Taxable Income Screen: Accounting depreciation and Taxable depreciation are two new line items added to the screen.

Errors Corrected


  1. Fixed: When updating tax-free proportion for Pension Member Components.

  2. Fixed: Westpac Authority form when generated from Smart Matching.

  3. Fixed: RaboDirect bank feed was unable to manually add/edit term deposits in the Feed Setup screen

  4. Fixed: Segregated Statement of Financial Position (excel version only) shows negative figures for LRBAs.

  1. Fixed: Treatment of Foreign Resident Withholding amount.

  2. Fixed: Discount calculation on distribution amounts in Company Tax Reconciliation Report.

  3. Fixed: The Distribution Screen access denied when no beneficiary was set up.