New Features - November 2018 Release (13/11/2018)

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New Features

  1. Smart Matching - Foreign Currency support

Convert amounts from foreign currencies via the Fast Spreadsheet Data Input (Cash Code) screen. Input amounts in the foreign currency and Simple Fund 360 will populate the end of day rate and convert amounts to AUD when uploaded. Bank accounts can also be set up with a default currency.

  1. Default Disposal Method - Fund Details

Select a default disposal method in Fund Details for all disposal transactions to call upon. The initial default is “Most Tax Effective”, with three other options to select: Least Tax Effective, First In First Out or Last In Last Out.

  1. New Death Benefit Rollover Statement from 01/07/2017

A new Death Benefit Rollover Statement has been added for payments made after 1 July 2017, to a dependant external to the fund. Refer to How to Enter Rollover or Lump Sum Payments.

  1. Updated Deduction Notice form - Personal Super Contributions

The new ATO Notice of intent to claim or vary a deduction for personal super contributions has been added. Refer to Deductions Notice (s.290-170).

  1. New Brokers - BGL Contract Note Service (The Share Data Pack)

Broker
Gamma Wealth
Belvedere Share Managers
708 Capital Pty Ltd
Oracle Capital
Axis Investment Centre

Improvements

  1. Compilation Report: Trustee will be recognised as Individual or Corporate trustee in the report. Previously the reporting variable in the text assumed Individual .
  2. Accounting Workpapers: Review date of workpapers has been reset to blank.
  3. TBAR Management: 2019 financial year is now the default year that will display on the management screen.
  4. Trustee Declaration: Report Date input in Settings will now appear in Trustee Declaration.
  5. Daily Profit/(Loss) Allocations appearing for Ceased Member Accounts: daily profit allocation journals will be removed where a cease date for a member has been recorded, and no future create entries or balance forward exists.
  6. Smart Matching: Third-party bank balance data obtained from a BGL bank feed will display on the screen.
  7. Dividend Reinvestment (Notifications): Dividend reinvestment percentage decimal places extended.
  8. Reversionary Pensions: The “Reversionary Pension” label wording when commencing or editing a pension has been changed to “Is Pension setup with a Reversionary Beneficiary?”
  9. Wraps and Platforms and The Share Data Pack: $0 purchase transactions now imported.
  10. Morgans Wealth+: Advanced Settings option added to wrap feed setup.
  11. CSV Importer: Post-upload, the user will be directed to Smart Matching.

Issues Corrected

  1. The SMSF Annual Return: Where the fund has a deemed segregation period for the year, the option " B&C Both Segregated assets method and Unsegregated assets method " under Section A Question 10 is now selected.

  2. Transfer Balance Account Summary: Remaining Balance column now calculating correctly where the Opening Balance column has an amount recorded.

  3. The SMSF Annual Return: Prior year tax entries posted to account 85000 are no longer being included in the NET ECPI amount where the ECPI value is less than 0.

  4. TBAR Lodgement Status Report: External amounts added for members are excluded from the lodgement report.

  5. Tax Reconciliation Report: Section D label issues corrected.

  6. Activity Statement Report - Detailed: Capital purchases are no longer showing under both capital and non-capital purchases.

  7. Dividend Transactions: Automatically matched dividend transactions no longer have a rounding error in the More Details Panel.

  8. The Share Data Pack: CMC Contract Notes format changes have been updated.