New Features September 08/09/2022

New Features


  1. BGL reinvents its practice management integration with Xero Practice Manager! :partying_face: :partying_face:
    This two-way integration automatically syncs entities and contacts in CAS 360, Simple Fund 360 and Simple Invest 360 with clients in XPM. This means that an update to an address of a client/ contact will automatically update the client or contact stored in all BGL products and XPM!

  2. Simple Fund 360 and CAS 360 Integration: Sync clients (entities) and contacts between your BGL Applications (Simple Fund 360, Simple Invest 360 and/or CAS 360) using the brand-new Practice Management Synchronisation! When a change is made to a client or contact, these details will be updated for all products. This means that an update to an address in Simple Fund 360/Simple Invest 360 will automatically trigger the required ASIC forms to be produced in CAS 360!

  1. New to the Fund Dashboard, is the Members section! You can now obtain a quick snapshot :camera_flash: of all members in your SMSF, which includes a breakdown of member balances, Contribution Caps and Pension limits!

  1. Smarter SMSF has added 2 new documents for SMSFs. These documents are available via PAYG or using a Smarter SMSF subscription. For more information on documents available, refer to Smarter SMSF’s Website :page_facing_up:
Document Purpose Output
Change of Trustee This form generates documents to make any of the following trustee changes: Individuals to Company; Company to Individuals; Add Individual(s) only; Removal Individual(s) only; Add and Remove Individuals and Company to Company. Note: Any trustee changes due to a member’s death should use the 'Change of Trustee - Death of a Member form. The following documents will be generated as part of the completed order: Change of Trustee Deed (or similar - e.g. Deed of Appointment, or Deed of Retirement); Trustee minutes to reflect the changes made to the trustee; Consents to Act (where relevant) and Pre-populated ATO trustee declaration (where relevant).
ECPI choice method minute This form generates a trustee minute where the fund chooses to apply the proportionate method for ECPI purposes, where the fund has both segregated and unsegregated periods throughout the income year, and the disregarded small fund asset rules do not apply. A trustee minute that confirms the choice of the fund for ECPI purposes.

Sample Documents

Improvements


  1. Reports: Term Deposits have been added to Bank Statement Reports. You can also individually select and generate a report for Term Deposit accounts from the report’s settings.

  2. Feed Management: Inactive investment accounts no longer appear when setting up or editing Registry Data settings.

  3. Entity Dashboard: Labels have been added to the Entity Dashboard, displaying all labels applied to the entity next to the Financial Year.

  4. Contacts: The Find Matches function has been added to the Contacts screen, allowing you to view any contacts with matching names for simplified management.

    • You can now also search for Contacts using a phone number or address.
  5. Investments: Farming Properties have been added to the Rental Property Statement

  6. Documents Beta: If a document folder is empty, the screen will now display a message and include a link to the parent folder for easier navigation.

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

    Date ASX Code Type
    05/08/2022 VMY Merger
    05/08/2022 UWL Merger
  8. Corporate Action: Alphabet (GOOG.NDQ/GOOGL.NDQ) 1-20 Share Split is now supported

  1. SuperStream: The SuperStream Contribution Summary Report is now available from the Superstream Dashboard directly.

  2. SuperStream: The Contribution Tab in the SuperStream Dashboard now includes the last updated date and a total for all members.

  1. Reports: You can now add any liability account to the Notes to the Financial Statements, controlled by the badge setting.

  2. Reports: Reserve section moved in the Appropriation Statement.

Errors Corrected


  1. Fixed: Lump Sum Payment Minute shows the Payment date instead of the Transaction date.

  2. Fixed: Foreign Income Tax Offset will now allocate all pension weightings to the highest weighted Accumulation Member during the Create Entries process.

  3. Fixed: For assets that are fully disposed, the Deferred Tax Reconciliation Report will filter out negative tax deferred amounts that are linked to accounts with the CGT type as depreciation.

  4. Fixed: For assets that are fully disposed, the PDIT Calculation in create entries will filter out negative tax deferred amounts that are linked to accounts with the CGT type as depreciation.

  5. Fixed: Funds with outstanding rollover transactions will now display correctly under the Superstream ‘Action Required’ tab.

  6. Fixed: Contribution Link under SuperStream ‘All Funds’ tab will now direct users to access fund superstream contribution data for the relevant period.

  1. Fixed: Franking credits rounding issue.

  2. Fixed: Rounding issue for Current/Non-Current Statement of Financial Position.

  3. Fixed: Round issue in Appropriation Statement and Detailed Operating Statement.

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