- Introducing the Bank Feed Comparison Report, a powerful tool that empowers you to compare bank data sourced from bank data feeds with the corresponding ledger data. This comprehensive report not only reveals variances but also plays a crucial role in pinpointing discrepancies.
- Workpapers: Introducing a fresh addition to Workpapers - a brand new note category called Matter for Attention - Auditor. This note type is specifically designed for Auditors, allowing preparers to easily send relevant information. By default, all other note types are concealed from users with the Auditor role.
- API: The new Matter for Attention - Auditor note is available on BGL’s public API for Audit Applications and Partners. It's important to note that our API grants access solely to this specialised note type.
- DuoTax: We welcome Duo Tax as our latest Integration partner! Duo tax has seamlessly integrated with Simple Fund 360, offering a range of services such as Residential and Commercial Valuations, as well as Depreciation Schedules.
- The Holding Accounts Report is designed to assist users in accurately determining the Portfolio Code associated with each investment. This comprehensive report not only provides the Portfolio Code but also grants visibility into crucial details such as security code, balance amount, and balance date. This report is exclusively accessible for Wrap and Platforms feeds that incorporate the Portfolio concept and is conveniently prepared using Excel for seamless usability.
- We have introduced checklists that aim to aid and direct users in the SuperStream rollover procedures by providing assistance with Initiating Rollover Requests (IRR) and managing Release Authorities (RA). These checklists have been designed to enhance the rollover process and offer valuable guidance.
- SuperStream Rollover Declaration: Simple Fund 360 now provides the SuperStream Rollover Declaration, which is a correspondence from the trustees to the Auditor. This declaration outlines that rollovers have taken place in the given financial year and have been executed in accordance with the applicable SIS Regulations.
- Inter-Entity Dividend Journals: As part of the year-end period compliance in Simple Invest 360, a dividend paid can now be posted directly into the ledger of the receiving entity. This means that when a dividend is made, instead of recording it separately between entities, the dividend can be recorded directly in the receiving entity's ledger via the Inter-Entity Journal Tool.
- Consolidated Reporting: Inter Entity investments linked to a Shareholder or Beneficiary will now be automatically excluded from consolidation. The Financials tab can now be personalised to tailor the inclusion or exclusion of specific accounts. Additionally, a new option has been introduced to generate an Asset Allocation pie chart based on the GICS code grouping.
- 2024 Fund wind ups (SMSFs Only): You can now seamlessly prepare and electronically lodge your SMSF windups for the upcoming 2024 Financial Year! Simple Fund 360 enables you to effortlessly submit your windups directly to the ATO, eliminating the hassle of manual paperwork. Wind ups for the 2024 Financial year will use the 2023 Financial Year return. Learn more
- Balance Review - The Wrap and Platform data feeds have been improved ensuring more accurate allocation of balance records imported through feeds.
Corporate Actions - 4 merger corporate actions have been added to the corporate actions screen.
ASX Code Date KWR.AX 30 May 2023 BRB.AX 01 June 2023 EAI.AX 05 June 2023 OXX.AX 06 June 2023
- Lodging Party - Representatives and ABNs can now be added to contacts directly from the Lodging Party screen.
- Lodgement Screen - Back-end optimisations have been implemented to accelerate loading times.
- Period Compliance (SMSF Only) - Notes can now be added to a period of created entries.
- Period Compliance (SMSF Only) - The timestamp for periods of created entries is now displayed.
- Reports - The General Ledger report settings have been updated, allowing you to generate a report only including unmatched transactions.
- Reports - Bank accounts with negative balances will now be displayed as liabilities on the Balance sheet for Trusts, Companies, and Individuals to reflect changes to the XYZ notes to financial statements.
- SuperStream (SMSF Only) - All funds previously registered with the Australia Post ESA (AUSPOSTSMSF) have been updated to the BGL ESA (BGLSF360).
- SuperStream (SMSF Only) - For Initiate Rollover Requests (IRR), the checkbox stating "Is the request for the entire balance?" is now unticked by default.
- Period Compliance (Trust Only) - the Distribute profit screen and tax return Pre-fill logic have been improved to better handle scenarios where a Trust is making a tax loss.
- Wrap and Platform - The data import will now factor in the entity’s System Start Date, not importing data before this date.
- Entity Workflow - Data syncing efficiency has been improved.
- Documents - The data syncing for loading the chart account folders in the left bar menu has been improved.
- Documents - The bulk edit function can now be used to add new tags to documents. This was previously limited only to existing tags.
1. Members: The error incurred when deleting a member account with a record in the Transfer Balance Dashboard has been resolved.
2. Reports: Fact Finder 2023 and Fact Finder Advisor Extract reports did not display the non-concessional bring forward cap trigger. This is now fixed.
3. Reports: The issue of the 88000 Sundry Creditor's GST amount not appearing in the Activity Statement Reports has been resolved.
4. Reports: Document saving logic changes for the PAYG Payment Summary - Income Stream Report.
5. SuperStream: Corrected broken email footer image.
6. Distribute Tax Components: The issue of incorrectly allocating discounted gains to label W when income streaming was used has been resolved.
7. Franking Account Worksheet: The issue with the opening balance calculation in the franking account worksheet for companies during entity setup has been fixed.
8. Documents: The issue with the repeated system-mandated refreshes on the User Interface has been resolved.