I have been using Simple Fund in its various forms since 1997. I am a Trustee for my family super fund. I think overall, Simple Fund 360 is great. However, there is one thing that annoys me. I am a regular trader of shares and the buys and sells come into the ledger through the Simple Fund data feed. However, every transaction goes into account 94910 Investment Movement Data Clearing Account. Why can’t I set a default bank account for all buys and sells from a specified broker? It would save a great deal of time and frustration.
Presumably your bank data feed is working. In which case you need to wait for the transaction settlement and then for the dollar transaction to appear in the bank account and feed through to SF360 at which point smart matching will pretty much always correctly match the transactions.
The entry into Simple Fund is via the broker feed. The bank account I use is not supported (NABTrade) so the sale or purchase of shares goes into the Bank Account Clearing Account, thus my many manual entries. Is there a way around this?
The best non-data feed way to input bank transaction data would be by obtaining and uploading the CSV file with all the bank transactions for the financial year.
There is also a fast data input function in the smart matching screen if you want to input the bank throughout the year.
Yes, I use both methods. The problem is that the broker sales and purchases feed into Simple Fund very soon after the actual trade, usually within the hour. Thus I need to remove the Suspense entry and input the correct bank details manually. My suggestion of having a default bank account for each brokerage would fix that problem.
You should probably contact BGL Support and ask them to help you setup the share & bank data feeds correctly - if everything is correctly setup, the share trades should be automatically matched up with the bank once the bank transaction data comes through.
The trade transactions should match with the bank account where the funds were paid & received.
I have a feeling your problem might well be similar to a Broker CSV import issue I had and continue to have (I think it was NABTrade too).
The problem was that the (so called) BGL AI was not able to see, for example, that NAB.ASX was the equivalent of NAB.AX
For me I just edited the CSV file but if you have a feed you’ll probably be having to change account codes just to even see if that forces it to match.