Transfer out of SMSF to Industry Fund

Hey,

I have transferred some $$ out of my SMSF into a Industry Fund - can someone please let me know the most appropriate chart of account code to use for the “Transfer Out”.

Much obliged
Ilona

Hi Ilona,
It’s 46000 (benefits paid/transfers out). You should do create entries to the date before the transfer to ensure your member components are correct, and you’ll need to set up the fund that you’re transferred to as a contact if you want to generate the rollover benefit statement in BGL as well. The type of payment to choose from the dropdown box will be “Transferring from one super fund to another”.
Hope that helps,
Christine

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Hey Christine,

Thank you so much :slight_smile:

Kind regards

Ilona