New Features - September 2018 Release (20/09/2018)

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New Features

  1. NetWealth (Wrap Data Feed)

Import a daily data feed via Netwealth.

  1. Downsizer Contributions

Simple Fund 360 now supports the recording of downsizer contributions when recording a contribution by a member.

  1. BAS Form F

Prepare and lodge BAS form F through the BAS/IAS screen.

  1. 27.5% Tax Rate (Franking Credit changes)

Companies with a tax rate of 27.5% will have the franking credit component of dividends received (23900) calculated automatically using this percentage in the More Details Panel.

Improvements

  1. TBAR Management: TBAR events that are prepared but not lodged can now be edited. TBAR events that have been canceled can now be moved from prepared to outstanding.
  2. Transfer Balance Dashboard: Member Account Number and Client Identifier fields added to the TBAR Settings section. Entries recorded in these fields will overwrite the SF 360 MEMBERCODE.
  3. How to Enter Pension Payments: Negative pension payments can now be recorded in Transaction List and Smart Matching.
  4. How to Enter a Distribution & Tax Statement: The validation “Franking Credits must be recorded” when entering distributions has been removed.
  5. Trustee Query: Documents attached to a transaction under query will now be sent with the query.
  6. Smart Matching and Analytical Insights: Downsizer contribution fields added to these features. Interest transactions are now automatically coded to the correct sub-account.
  7. Investment Income Report: Report displays dividends received that have a franking rate of 27.5%.
  8. TBAR Lodgement Status Report: Lodgement date column added to report. Canceled events will also display on the report.
  9. Audit Reports and Accounting Workpapers: Blank dates can be used for these reports (select Options>>Settings next to each report to review).
  10. Balance Review: Investments can now be sorted by name.
  11. Transaction Re-Request for Data Feeds: Bank Balance information is now requested alongside transactions when completing re-request.
  12. Corporate Actions Notifications: Delisted securities for the second half of the 2018 financial year now appear and a Next Financial Year filter has been added to the screen.

Issues Corrected

  1. Share Rights (Notifications): BCL (Bunji Corporation Limited) renounceable rights issue now available in Corporate Actions.
  2. Audit Reports: Unitised and non-unitised investments are now displaying in separate lead schedules.
  3. Reporting the Accumulation Phase Value (APV): APV entries no longer displaying the incorrect MEMBERCODE.
  4. RaboDirect Term Deposits: Code can now be saved when setting up feeds.

Hi Steve
Re 27.5% Tax Rate
I was processing some transactions in SF360 yesterday and, on two occasions, the franking credits on dividends which were franked at 27.5% were incorrectly calculated at 30%. When do these new features kick in and, is there anything I need to do to ensure that the new features are updated in our SF360 or does it happen automatically?
Jane

Hi @Jane,

Are you processing these transactions in the corporate actions screen or the transaction screen?

transactions screen. We have bank feeds set up so I did it through transaction matching

Thanks for that.

We will check the data on our end, would you be able to tell us what the investment was and what the date of the transaction was?

Dividend received from Class Limited (CL1) on 17/9/18
Dividend received from Pro Medicus Limited (PME) on 27/9/18

thanks

Hi @Jane,

Thanks for that, we will need to look at the transactions to investigate this further.

Would you be able to contact our support team? If you want instead, you can message me your details and I can raise a ticket for you and get one of our support consultants in touch.