New Features - June 2020 Release (11/06/2020)

New Features

  1. The new Simple Fund 360 experience!
    Based on your feedback It’s simpler than ever to navigate your way around Simple Fund 360. We’re releasing a set of improvements across the following new pages:

  2. Working Papers: When distributions (Account 238) have not been reviewed on the Distribution Tax Automation Screen, a warning message will display. The message will also state whether the Distribution has a variance or not.

  3. Notes to the Financial statements: The following changes have been made to the notes to the Financial Statements for 2020 which is in line with the XYZ Standard.

    • Removed paragraph on New Accounting Standards for Application in Future Periods.
    • Above named paragraph was displayed in the Reporting Entity section multiple times, this has now been removed.
    • Above Changes apply to the Notes To Financial Templates for Comparative / No Comparative.
  4. The SMSF Investor Powered by Lonsec: BGL recognises the importance for SMSF trustees and “non-AFSL licensed” accountants to have access to high-quality investment research & education. BGL has negotiated a substantial 30% discount for their clients to gain membership to The SMSF Investor. Direct access to The SMSF Investor is now available in Simple Fund 360.

  5. Digital Signing: The following reports can now be digitally signed in Simple Fund 360:

    • Deduction Notice Form.
    • Deduction Notice Letter.
    • Deduction Notice Request Letter.
  6. Feed Management: Review your Simple Fund 360 license by generating the Data Feed License Report. This Report displays all funds and states whether they are taking up a Bank and/or Share Data license.

  7. SelfWealth: Improvements have been made to the matching logic. Smart Matching will review and match multiple bank entries (example separate purchase and brokerage) against a share purchase.

  8. 2020 Tax time: Further updates have implemented for 2020, with the latest 2020 ATO SMSF Independent Audit Report added together with 2020 Reports and Audit Changes.

  9. Covid-19 Early Release ROA: Simple Fund 360 will now help you prepare the Covid-19 Early Release Record of Advice (ROA). You will have the ability to tailor the layout of the template based on your clients’ specific needs and circumstances.

  10. Share Data Pack: New Broker ASR Wealth Advisers will now be supported by the Contract Notes Service. Click Here to review a full list of Supported Brokers.

  11. Smarter SMSF: NEW Deed Updates with direct integration into Simple Fund 360. Generate documents to upgrade an existing Trust Deed of a Self-Managed Super Fund to comply with the current superannuation and taxation laws.

  12. Smarter SMSF: When you connect the Smarter SMSF platform to your Simple Fund 360 software, you can create your SMSF documents seamlessly pulling existing fund, member and pension information. This direct integration now allows you to generate your Pension Commencement Documentation.


  1. Working Papers: PDF Export - The Front cover now displays a date printed to ensure firms have the correct copy saved in external systems.

  2. Working Papers: Refresh Workpapers - sub-accounts will be marked as incomplete if the current year balance is updated.

  3. Workpapers: From the Workpapers screen, the following reports can be automatically generated: Investment Income, Investment Summary, Notes to the Financial Statements, Operating Statement, Statement of Financial Position and Trial Balance

  4. SMSF Annual return amendment message: The SMSF annual return amendment message has been updated to clear confusion about when data is overwritten. The message will now display ““This function will create an Amended Return & Schedule(s) and once lodged will overwrite data previously submitted to the ATO”

  5. Statement of Taxable Income: An option has been added to the report to perform a distribution review check. By default, this will be toggled to yes, however if users don’t wish to see the check, then they can toggle this off.

  6. Property Dashboard: An LRBA status column will be added to the Property Dashboard screen. If the property is subject to an LRBA, the column will display Yes, otherwise it will say No.

  7. Property Dashboard: Users will be able to edit the “Asset subject to limited recourse borrowings” from the Property Dashboard.

  8. Create Entries Alerts: A banner has been added to bring your attention to the create entries alerts, so you don’t miss them. The banner will read “Create entries alerts exist. Click here to review the alerts”.

  9. Corporate Action: The ability to automatically process the Walt Disney Co (DIS.NYSE) merger with 21st Century Fox Inc (TFCFA.NDQ) has been added. Click here to view the help article

  10. Corporate Action: In the Corporate Actions screen, the “Click for Instructions” link will link users to a specific share buy back help page, rather than the generic instruction page.

  11. Feed management screen: The following existing features have been added to the Feed management (beta) screen

    • setup
    • Xero setup
  12. Annual Return instructions link: The 2020 ATO SMSF Annual Return Instructions link has been updated.

Errors Corrected

  1. TBAR events lodged in FY 2017-18 will now be displayed properly under TBAR Management screen.

  2. Net Cash Distribution displayed gross figures in the Distribution Reconciliation Report when the discount rate was not specified. Now both the discounted and gross figures would display.

  3. Documents with “,” in the name can now be downloaded properly.

  4. Users without permission to “Delete Documents” were not able to download documents. This has now been fixed.

  5. Users are now able to scroll down the page to view all tags when setting up document restrictions.

  6. The Ledger Income in the Investment Comparison Report would be overstated when there were multiple income entries on the same date. This has now been fixed.