New Features - June 2019 Release (27/06/2019)

PDF available here - June Release PDF

New Features

  1. Registry Data Service - Simple Fund 360 now supports Boardroom Registry through the Share Data Pack. Registry Integration can help complete the puzzle and speed up the pre-audit phase of the SMSF, click here to learn more.

  2. New and improved data entry shortcut keys have been added to the Transaction List. SF360 will also provide you with the ability to do arithmetic calculations in the debit and credit fields.

  3. The distribution (23800), dividend (23900), and Interest accounts (25000), now provide you with the ability to do arithmetic calculations through the More Details Panel.

  4. Simple Fund 360 now supports segregation of assets for income allocation only. This allows you to allocate income from investments to specific member accounts while having income tax calculated based on the proportionate method (actuaries). This is to provide you with greater flexibility in terms of investment choice and strategy, especially where members have exceeded their TSB of $1.6 million and a fund can no longer use a segregated methodology for tax purposes.

  5. When enhanced privacy is switched on from the user role settings, the TFN will display as “Provided” in Section A - Tax Compliance Screen.

  6. Simple Fund Desktop 2019 Tax Return can now be imported into Simple Fund 360 after fund migration.

  7. Smart Matching will now allow users to easily categorise, split and allocate a transaction to multiple accounts when creating a matching rule.

  8. Core system algorithm updates have been released, designed to improve the performance of investment matching data (buys/sells).

Improvements

  1. When posting a pension payment (Account 41600) the More Details panel will now display a warning message if pension withdrawal exceeds the maximum pension amount.

  2. Members Summary Report will not report an amount ($0.00) when the member’s balance is nil.

  3. SuperStream Contribution Data Report - format improvements have been made when exporting to excel.

  4. TBAR Management screen - From the Lodgement tab the 2019-2020 financial year will now be set as the default year, and a new financial year (2020- 2021) has also been added.

  5. Create Entries warning message for market revaluations has been updated to check 28/06/2019 for listed investments.

  6. BAS/IAS Lodgement Declaration - Enabled the fund ABN variable («${FundABN}») which can now be added to the BAS/IAS Lodgement Declaration template.

  7. BankStatements Powered by Proviso - MyState Bank is now a supported feed via BankStatements.

  8. Fast Data Entry improvements have been made when creating a matching rule for a split contribution.

  9. Tax Time documents updated per XYZ Financial statements - Notes to financial statement, trustee minute, trustee resolution and trustee declaration

Errors Corrected

  1. When posting a pension payment, the amount required to meet the minimum will now include PAYG amounts from the More Details panel.

  2. Lump Sum Payments: More Details panel calculation will not be re-triggered when the type of payment is changed.

  3. Lump Sum Payment: when the type of payment selected is set to Contribution Splitting for a Spouse, SF360 will no longer post to the Transfer Balance Dashboard.

  4. Corrections have been made to Segregated Balance Sheet.

  5. Mid-year Create Entries and fund wind-up date preventing fund deletion this has now been resolved.

  6. Corrections have been made to the profit allocation worksheet.

  7. Investment Summary Report - Printing errors have been resolved for the Investment Summary Report.

  8. Errors have been corrected when posting to account 46000/MemberCode and selecting Transferring from one Super Fund to another.

  9. Fund Transfers - For funds that have been transferred, the Income tax expense will now display in the comparative year.

  10. When preparing a Bulk Bank Data Authority Form Simple Fund 360 will now populate and use the SMSF name.

  11. Investment Dashboard - correction made in calculating Simple Dietz rate of return.