New Features May 18/05/2022

New Features


  1. New Documents Screen: The Documents Screen has been updated with a brand-new look including several new features such as:

    • Folders for each Account, allowing documents to be sorted easily and efficiently
    • Financial Year Tabs filtering documents by the selected financial year
    • A list of balances for each account allowing for reconciliation straight from the new screen
    • The ability to drag and drop documents to the correct folder
    • Additional Tagging and Permission Options.
      For more information and instructions, see this article about the Documents screen.
  2. International Prices: Updates to daily prices for NYSE Arca (ARCX) investments are now available in Simple Fund 360 and Simple Invest 360. NYSE Arca is an electronic securities exchange in the U.S. on which exchange-traded products (ETPs) including ETFs and equities are listed. The prices are revalued to Australian Dollars using end of day exchange rates from the Reserve Bank of Australia.

  3. Wrap Feeds: Mason Stevens has migrated all accounts from their old platform to their new platform! To account for this, BGL has updated existing wrap feeds for Mason Stevens.

  4. Distribution Reconciliation Report API: A new API for the Distribution Reconciliation Report has been created.

  5. Actuarial Certificate Wizard: support has been added for 2022 and later Financial Years for Choice of ECPI method. For more information see our Help Article on Choice in ECPI (2021–22 income year onwards).

  1. Look! Up in the Sky! It’s a Bird…It’s a Plane…It’s Trust Tax Return Electronic Lodgment!!
    Simple Invest 360 now becomes the only all-in-one software to offer investment reporting, CGT tracking, profit distribution automation, full set of financials AND electronic trust tax return lodgment. To find out how to prepare, validate and lodge the 2021FY Trust Tax Return, click here.

  2. Period Compliance: New Feature Alert!!! An option to Reinvest distributions is NOW available for Unit Trusts.

  3. Reports: New Letter, the Unit Valuation Letter will show a summary of each beneficiaries’ unit holdings, reporting on the information entered in the Beneficiaries Screen.

  4. Reports: New Unit Holding Report! This report is available to Unit / Hybrid Trusts. It contains details about unit holdings for beneficiaries and transactions related to these unit holdings during the financial year selected.

Improvements


  1. Addresses: We have added Google Address support in Entity Details, Contacts and Trust Tax Return screens.

  2. Member List: Member List Transactions are now sortable by Date and Transaction Type

  3. SuperStream: There have been several improvements made to the SuperStream service available in Simple Fund 360

    • The Conversation ID can now be directly obtained from the SuperStream Dashboard and will be located in the Transaction Status Column.
    • SuperStream rollover report will not display the preservation and rollover components for release authorities.
    • Validation added when entering a member’s Postcode.
    • Validation added for Service Period Start Date, which cannot be future dated.
    • Remaining benefit for a release authority has been added to the SuperStream Report.
    • Contribution amount ow included in the email notification.
  4. Contribution Dashboard & Breakdown Report: from 1 July 2022 we have updated the notes in relation to the work test for voluntary contribution for members aged between 65 to 74.
    Pension Summary report: we have extended the 50% pension payment reduction to the 2023 Financial Year.

  5. Feeds: IRESS ETF Asset Allocation made available on the Investment Dashboard.
    Feeds: Cointree feed now linking to system cryptocurrency codes and prices

  6. Feeds: WealthO2 data feed improvements with tax income component mapping

  7. Custom Letter: New ISO date field Variables are now available for Custom Letters.

  8. Corporate Actions: Support has been added for the following corporate Actions in Simple Fund 360 and Simple Invest 360.

    • Date ASX Type
      04/04/2022 SXY Merger
      14/04/2022 BDC Merger
      22/04/2022 WIC Merger
      22/04/2022 OZG Merger
      30/08/2021 MHH Code Change
  9. Actuarial Certificate Wizard: The Date and Time of when the request was submitted will display in the Certificate Status column.

  10. Actuarial Certificate Wizard: Where transactions for the Financial Year have been modified after a request has been sent a warning message will display on the screen.

  1. Compliance: The following errors listed below have been downgraded to warnings for individual entities only, with an option to ignore when closing period.
    • Profit/loss for the current year has not been allocated.
    • Entries to the suspense account range have been detected in the current financial year.
    • Balance sheet does not balance, review the balance sheet prior to the closing period.

Errors Corrected


  1. Fixed: New format added for 117 existing New York Stock Exchange securities, and prices mapped accordingly.

  2. Fixed: When processing SuperStream Rollovers, a validation will now trigger when negative components have been entered.

  3. Fixed: When processing SuperStream Rollovers, users will be able to process certain transactions even if there is an invalid response from the FVS service.

  4. Fixed: Added validation for unentered bank details when initiating a rollover request and the receiving fund is an SMSF.

  5. Fixed: Error fixed where the Div 293 release authority was not being submitted when the released amount is less than ATO request amount.

  6. Fixed: The USI entered for SuperStream Rollovers and Release Authorities will automatically update to upper case as advised by the ATO.

  7. Fixed: IRER parameters updated to avoid errors when processing messages for SuperStream Rollovers.

  8. Fixed: The beneficiary rather than the deceased member will now be correctly attached when processing SuperStream Roll Out transactions.

  9. Fixed: Fixed issue where rollover notification emails were displaying special characters instead of the Fund Name.

  10. Fixed: Rectified error upon Change ESA for Safari users.

  11. Fixed: The Investment Summary will now return the latest date when comparing the System Price and Custom Price.

  12. Fixed: Duplicate record fixed for Investments linked to both the 23900 and 23800 accounts under the Investment Income Comparison Report.

  13. Fixed: Fund Transfer updated to handle the new 58300 – Subscribed Units account which is supported for Trust Entity types.

  14. Fixed: Error fixed with the Fund Transfer Import due to null value at LastModifiedTime field.

  1. Fixed: Tax Return redirect message for Trusts will no longer display for Companies and Individuals when processing the year-end workflow.