New Features - September 2020 Release (17/09/2020)

New Features


  1. Feeds: BGL has industry-leading data feeds with over 300+ Ecosystem partners and data feeds available. This release we have added Private Portfolio Managers (PPM). which is a new daily feed, that will automatically import cash, investment and income data on a daily basis. This feed also includes foreign transactions.

  2. RaboDirect Bank Feeds: BGL Bank Data Service now supports non-primary ‘00’ cash accounts. Previously a fund required to have a primary cash account ending in ‘00’ in order to have other non ‘00’ feeds setup for that fund. Now all RaboDirect bank feeds can be set up on the BGL Bank Data Service.

  3. Workpapers: based on your feedback we continue to add new features and improvements. Check out the latest additions added this release to the working papers:

    • Notifications: Notify Auditor that fund is ready for audit
    • Notifications: Notify Preparer the review is complete and the fund is ready for audit.
    • Notifications: All notification emails now specify Financial Year and provide a login URL.
    • Improved PDF Viewer with added features such as Zoom in/Out, Bookmarks, Page numbering, Slide show and faster loading times for large files.
    • Settings: Investment Summary with Market Movement is now available to be added to your Templates.
  4. Audit Report: Updates have been made to the default template for the SMSF Audit Report.

  5. Email Template: The Digital Signing Email Template will now support the merge field ${deptName}. When used the template will populate the Firm Name.

  6. Entity Workflow: The Entity Status (active or inactive) will now be included on the CSV Export.

  1. Depreciation Schedule: We have simplified the process of recording journal entries by providing you with an option to prepare a schedule and post depreciation across all your depreciable assets.

  2. Reports: Bank Audit Confirmation has been added to Simple Invest 360 Reports Screen for Trust and Companies.

Improvements


  1. Distribution Tax Automation: Reconciling distribution tax data has never been easier.
    With now over 400 Investments supported in the 2020 tax reporting season.

  2. Fund Relationships: We’ve made the following upgrades to the Fund Relationships Screen.

    • Ability to add an Account Manager as a Relationship.
    • Improvements have been made to help edit existing relationships.
  3. Entity Setup: We will now display the name of the firm when a new entity is created. This change will only apply to users who have access to multiple licenses.

  4. General Ledger - Audit View Report: New filters have been added, which will help you to search for particular journal types across all your data feeds.

  5. Member Statement: Updates have been made to the member statements, we have removed any limits on the number of beneficiaries that can display.

  6. Fund Transfer: The following features will now be included when a fund is transferred.

    • Pension Commencement Condition of Release.
    • Tax Return Lodgement History
  7. SmartDocs: SmartDocs by BGL will save you countless hours and increase the speed of processing by importing bank data into Simple Fund 360 by simply scanning and uploading bank statements. The following improvements have been added to this release.

    • A message will now display if the uploaded bank statement can not be recognised.
    • Name of the original file that was uploaded will now display.
  8. Matching Rules: We’ve made some upgrades to Smart Matching. When a rule has been newly created, we will now apply the rule to the entity selected.

  1. Entity Relationships: We’ve made the following upgrades to the Entity Relationships Screen.

    • Ability to add an Account Manager as a Relationship.
    • Improvements have been made to help edit existing relationships.
  2. Close Period: When the Close Period has been actioned we have added a prompt to help users navigate through your compliance requirements.

  3. Reports: We’re always working on performance improvements, this release we have made upgrades to how you can search for tags directly from the Reports Screen.

Errors Corrected


  1. Pension Dashboard: In the Pension Dashboard, the tax-free percentage now displays to two decimal places.

  2. ASX Data: When receiving E34 files from ASX, Simple Fund 360 has been updated to read and pull through the correct Corporate Tax Rate.

  3. Evans and Partners Wrap Feed: The Gross and Net Value of transactions coming through the Evans and Partners Wrap Feed have been corrected.

  4. Reports: Member Statements generated as part of a report pack will now feature opening balances from the correct start date.

  5. SMSF Audit Report: A spelling correction has been applied to the SMSF Audit Report.

  6. Reports: The Statement of Financial Position now reads from the Entity formed date.

  1. Quick Access Reports: Notes to the Financial Statements accessed via the Quick Access Reports function are now generated based on the attached badge setting.

  2. Deleting Entities: Users are now able to delete Entities in Simple Invest 360.

  3. Common Settings: In a Company Entity Type, when accessing Common Settings in the Report screen, ‘Trustee’ has been removed.

  4. Custom Reports: The Custom Reports tab is now showing in the new Reports screen.

  5. Custom Reports: Once a Custom Report has been added to the Report Pack List, the icon ‘Setting’ has now been removed.

  6. Reports Screen: When generating a New Bank Feed Letter in the new Simple Invest Reports screen, the browser tab no longer appears as < insert fund name>.

Integrations


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  1. SMARTER SMSF: 2 New Documents can now be created directly from the Order Document Screen in Simple Fund 360.

    A. LRBA

    • Cost: $ 275.00

    • This form generates documents for an SMSF to enter into a Limited Recourse Borrowing Arrangement (LRBA) in accordance with section 67A of the SIS Act.

    • The following documents will be generated as part of the completed order:

      • Bare Trust Deed
      • Limited Recourse Borrowing Trust Agreement
      • Statutory Declarations
      • Member Acknowledgements
      • Certificate of Beneficial Ownership
      • Trustee resolutions

    B. LRBA Loan Facility Agreement (Related Party Loan)

    • Cost: $ 275.00
    • This form generates documents for a related party loan where the SMSF enters into a limited recourse borrowing arrangement (LRBA) to acquire an asset and obtains funding through an associate (e.g. individual, related trust or company).
    • As part of the order form, you will be able to indicate whether the terms of the loan being entered into will comply with the safe harbour terms for real property or listed shares in accordance with PCG 2016/5.
    • The following documents will be generated as part of the completed order:
      • LRBA Loan Facility Agreement
      • Trustee Minutes
1 Like

Thanks for doing the updates. After the updates done 17/9 to workpapers, I have noticed the following when downloading reports from workpapers (clicking on the download button on the document pop out screen):
The first report I download downloads ok, but then every subsequent report, downloads multiple times, rather than just once.

Also previously the reports downloaded with their correct names, now it just is named “download’”

Not a big issue, but surely I’m not the only one that’s noticed this?

Hi @johnshadlow

Thanks for reaching out. We are currently investigating this and will release a fix ASAP

Regards

Jeevan