Open Banking - BGL can now receive a direct bank data feed from over 110 banks in Australia, including closed accounts, term deposits, loan accounts, and transaction data from 2018. This is available to all Simple Fund 360 and Simple Invest 360 users.
CFS Edge - New Wrap and Platform feed that provides daily bank, investment movement and income transactions.
Reversal Journals - Users can now set a journal to be reversed at a future date.
SmartDocs (BAS) - BGL now reads and processes ATO Business Activity Statements (BAS), extracting key details such as GST/PAYG amounts owed or refunded. If transactions have been entered at the time of upload, we will automatically attach the BAS file to the corresponding transactions for seamless record-keeping!
New Features
Improvements
Actuarial Certificates- Changes made to reflect Act2 Solutions acquiring Haintz Actuarial.
Bank Data Service- A new message related to Authority Forms has been added to the Bank Feed setup screen:
Contract Notes Service- Macquarie Online Trading accounts will transition to Bell Direct on 22nd February 2025. For entities trading with a Macquarie Online Trading account, Bell Direct has been added as a broker.
Period Compliance(Simple Invest 360) - Added an option to the Distribute Profits screen, allowing users to distribute accounting profit based off of the taxable profit distribution. This option is not available for Unit Trusts or trusts with Unitholders:
Period Compliance(Simple Invest 360) - The "Custom" option has been added for "Source of Income Trust Estate(W)", allowing you to enter a custom figure in the Distribute Profits screen:
Registry Data - Link Market Services has been updated to MUFG CORPORATE MARKETS (AU) LIMITED.
Contribution Breakdown Report- Footnotes have been updated for members aged 67 and above who have received contributions.
Operating Statement (Simple Invest 360) - The Operating Statement now reads "Gains/Losses on Sale of Investment" instead of "Changes in Market Value".
Tax Labels(Simple Invest 360) - Tax labels will now be auto-selected for all accounts.
Trust Income Schedule - For privacy, if "Display Investor Number" is disabled, the software will display "Provided" instead of the Investor Number in certain fields.
Workpapers- A new UI has been implemented that uses the same design elements as other new Simple Fund 360 screens, giving it a modern look.
Workpapers- Quick Note improvement: The ability to add a quick note on the fly for any Working Paper sub-account, without scrolling to the bottom of the page.
Workpapers- User drop-down lists now display the current user at the top, eliminating the need to scroll to find your username when assigning working papers to yourself.
CAS 360 Import - Fixed an issue where the CAS import required the user to have Period Compliance Authority turned on.
Create Entries - Cancel of the Member Allocation Worksheet does not Cancel the Create entries.
Deferred Tax Reconciliation - PDIT Calculation was incorrect when 'Use Segregation for Income Only' was switched on.
Inter Entity Journal - Fixed an error where the Assessable Foreign Source Income and Foreign Income Tax Offset were not being prefilled correctly.
Praemium - Enhancement for duplicate transactions handling for locked transactions.
Reports - Members Statement- 'Concessional' was cutoff on the report
Reports - Investment Summary report page break.
Report Settings - Trustee Minute/resolution, the default setting changed to Resolution.
SMSF Annual Return - Allocated Earning or losses Label O rounding issue.