New Features - June Release (14/06/2018)

A PDF copy of the release notes can be downloaded here.

New Features

  1. 2018 SMSF Annual Return

    The 2018 SMSF Annual Return is now available. Lodgement to the ATO will be added after 1 July.

    For information on changes to the Annual Return for 2018, click here.

  2. Integration with Bank Statements powered by PROVISO

    BGL Bank Data Service subscribers can import bank data from Bankstatements.com.au.

    Refer to: BankStatements

  3. Contact Export

    Administrator users can export a Contacts list into a CSV for review.

  4. 2018 Audit Workpapers

    2018 Audit Workpapers have been added.

Improvements

  1. Chart of Accounts: the INVESTCODE (sub-account code) of Investment Accounts can now be edited.
  2. How to Enter Rollover or Lump Sum Payments: Service Period Start Date field now only mandatory for " Transferring from one superfund to another " option.
  3. Contacts: Contacts that are integrated from other software databases such as CAS 360 and Xero Practice Manager now display a “synced” label.
  4. Fund Details: Fund non-complying tax rate has been updated for the 2018 financial year onward.
  5. TBAR Management: Overdue events under the outstanding and prepared tabs will now display in red.
  6. TBAR Management: A select all option has been added to the Outstanding tab.
  7. TBAR Management: A " Move to Outstanding " option has been added for events under the lodged tab section " No Lodged Files ". Events show under the No Lodged Files section if they have been Marked as Lodged from the Outstanding tab (no TBAR file was generated in Simple Fund 360).
  8. TBAR Management: A hyperlink has been added for each fund name appearing in the TBAR Management screen. Select the fund name to access it directly from the TBAR Management screen.
  9. Reports: A BGL Migration Report Pack has been added to the Reports screen. This pack consists of the Fund Summary, Statement of Financial Position, Operating Statement, Members Statement, Investment Summary and CGT Register.
  10. Reports: Notes to the Financial Statements, Trustee Minute and Declaration updated in line with XYZ Model.

Issues Corrected

  1. Contacts: a contact’s Other Name field is now included in an integration sync between databases such as CAS 360 and Simple Fund 360.
  2. TBAR Management: When printing the TBAR PDF form from the Global View option, the fund name is now appearing correctly under Question 8 of the form.
  3. Transfer Balance Dashboard: $0 amounts for adjustments can now be recorded.
  4. Transfer Balance Dashboard: APV and RPV entries can now be recorded using the date 30/06/2017.
2 Likes

Hi Anthony - we’re excited to see the bank statement integration feature. I’ve had a good look through here:

https://360help.com.au/display/doc/BankStatements+Powered+by+PROVISO#Supported+Financial+Institutions

And we’re having some difficulty working out how to link the feeds.

“Bank data imported from bankstatements.com.au can only be produced when a valid user ID and password (issued by the financial institution) has been entered into Simple Fund 360.”

Are you able to provide more info on the ‘valid user ID and password’ needed from the financial institution? Is this similar to the Westpac activation code, or the Macquarie esi or is it something different altogether?

Thank you,

Christine

Hi @Christine

It would be the same username and password used by the fund member for their Online Banking.

@Anthony I don’t think this is something our clients are going to agree to, rendering this feature useless. The majority of us have been taught that online security 101 is to not give your username and password out to anybody (especially with online banking). If this is the case, it’s very disappointing…

Thank you @Christine for your feedback. Security is a critical consideration with all integrations ​BGL make available through Simple Fund 360 . ​In this case ​BGL has partnered with an Australian company called Proviso, who is a long-standing provider of online security services in Australia and is also used by many large commercial software solutions as well as the big banks.

So you can make an informed decision, detailed security information on Proviso is located
here https://notes.proviso.com.au/files/bankfeeds-security.pdf

Thanks @MattCrofts - we use BGL’s Bankfeed feature for our other clients, and were looking forward to being able to access the same for building society and Suncorp accounts. The difference is that we are not required to ask our clients for their bank account username and login details for the other feeds, which @Anthony has stated we need to do to access bank feeds via Bankstatements.com.au. What happens if the client changes their online banking password? Does the feed need to be re-authorised?

If I have mis-interpreted Anthony’s response (and I sincerely hope that I have), please let me know. I’d also be interested to hear from any other clients who have successfully setup a bank feed using this method.

You have interpreted @Anthony comments correctly you would need to provide Proviso (bankstaments.com) with the current internet banking username and password. We have detailed Frequently Asked Questions that outline the requirements to setup a Proviso (bankstaments.com) Feed here. BankStatements Powered by PROVISO - BGL Help

We share your frustration with Suncorp , BGL have been actively chasing the smaller Banks and Building Societies for close to 5 years. As a matter of fact , it was one of the smaller banks that recommend we look at Proviso.

BGL remain committed to providing greater choice for our clients to automate banks feeds. Long term we look forward to the new Open Banking Australia standards , when data will be more portable.

So you and your clients can make an informed decision, detailed security information on Proviso is located here BankFeeds Security PDF v3