New Features - March 2020 Release (05/03/2020)

New Features


  1. Evans and Partners Wrap Feed: A new daily feed from Evans and Partners has been added, automatically importing cash, investment and income data on a daily basis. This feed also includes foreign transactions.

  2. New Brokers to the Share Data pack: The following brokers have been added to our Share Data Pack function: Financial Decisions & Intas Financial Services Pty Ltd.

  3. New reports: The Investment Performance Simple Dietz report has become more intuitive with now a printable option added from the Simple Dietz Dashboard.

  4. Fact Finder Advisor Extract: The 2020 Fact Finder report has been released and is available in the Reports screen.

  5. Workpapers: The new Workpapers warning/observation system will use the data with SF360 to inform the user of any potential irregularities such as negative balances for further review. The Lead Schedule has a filter to view the accounts with irregularities. The warnings/observations will be updated once ‘Refresh Workpapers’ has been performed.

  6. Order DBN Documents directly from Simple Fund 360: Simple Fund 360 clients can save time by utilising your fund and member information to generate Death Benefit Nominations that follow the requirements of the Smarter SMSF Deed. Generate either a binding (including non-lapsing) or non-binding death benefit nomination (DBN) for a self-managed super fund member. Importantly, this DBN form has been developed as per Schedules 1 and 2 of the Smarter SMSF Deed. As a result, you need to consider the specific requirements of the fund’s governing rules before preparing the document to ensure that the nomination is valid.
    The following SMSF documents will be generated as part of the completed order and sent back into Simple Fund 360 Document Portal:

    • Death Benefit Nomination (Binding or Non-binding)

Improvements


  1. Workpapers: Export has been improved so that attachments are directly behind each of the workpaper schedules they relate to. The Export now includes all Word, Excel, PNG, JPG, JPEG, and TIFF files in addition to PDFs.

  2. Workpapers: Each schedule table will now display sub-totals and has the ability to display all sub-accounts.

  3. Reversionary Pension: When a TRIS has been reverted to the beneficiary, Simple Fund 360 will move all benefits to unrestricted non-preserved. Irrespective of whether the reversionary beneficiary has personally met a condition of release.

  4. Reversionary Pension: get a snapshot instantly on the reversionary details by editing on the pension account from the Members List.

  5. Investment Income Comparison Report: We’ve made improvements to address unreconciled income that is at the record date in the current financial year however the date payable is in a future financial year.

  6. Digital Signing Authentication: The Digital Signing Authentication screen will be removed, as this feature will now automatically authenticate via the Digital Signing Button in the reports screen.

  7. Member Allocation Worksheet: In the Member Allocation Worksheet, when changing allocation amounts there will now be an Out of Balance line added to display how much the difference is (the imbalance).

  8. Fund Summary Report: A GST Registered field will now be added to the Fund Details section of the Fund Summary Report.

  9. Member Allocation Worksheet: Arithmetic calculations can now be entered directly into all editable fields from the member allocation worksheet.

  10. Superstream: A column in the SuperStream Contribution Data Report for Pay period has been added.

  11. Corporate Actions: Merger Corporate Action data has been added for the URB merger with 360 Capital.

  12. Smart Matching: Pension PAYG field is now always displayed in the smart matching screen regardless of member’s age
    -Member accounts are now listed by the order of account code for contribution / pension transactions when “Show All Members” is selected

Errors Corrected


  1. Pension Summary report: When a fund has multiple pension accounts and multiple payments posted to each account, the total gross pension payment line is no longer overstated.

  2. Bank statements: We’ve fixed a connectivity issue with the UBank overnight feeds. The system will now automatically retry to connect at a later stage when the institution is temporarily unavailable overnight.

  3. Excel Formatting Issue: There is no longer a formatting error when downloading the following reports: Investment Total Return, Segregated Statement of financial position, Segregated Investment Summary and Detailed CGT Relief in Excel format.

  4. Capital Gains Reconciliation Report: The fail to generate report error for the Capital Gains Reconciliation Report has been fixed.

  5. Accounting & Audit Workpapers: Account 86000 will now be shown on the Accounting & Audit Workpapers if the user manually posted to the account in the previous financial year and the balance is 0.00.

  6. Investment Income Report: The Investment Income report header is now showing on all pages of the report.

  7. General and investment percentage calculation: When the general and investment percentage is calculated on create entries (When ATO formula), the calculated percentage is now 100%

  8. Investment Movement Report: When multiple parcels of the same investment are disposed of in the same transaction, in the Investment Movement Report, the Accounting Profit/(Loss) column will show the total Gross Discounted Gain (as per the CGT register).

  9. The General Ledger Report: General Ledger - Audit View report no longer returns empty data.

  10. UTC Time zone impacting reporting dates: The UTC time zone date automatically populated will now match the actual calendar date.