Cash Movements (Bank Transactions
|Investment Movements (Buys & Sells)
|Income Movements (Dividends & Distributions)
The following information is imported through the data feed:
- Investment movements (purchases and disposals).
- Investment income (dividends, distributions and franking credits).
To authorise a data feed from CFS FirstChoice to BGL, either the investor or the adviser must follow a set of instructions to activate the data feed.
- Instruction set 1 is for advisers activating feeds on behalf of your clients.
- Instruction set 2 is for Investors providing activation authority to their adviser. Advisers can pass on Instruction set 2 to their clients.
Please be advised
Instruction set 2 can also be used by an investor to activate the data feed.
- Entity Name - Ensure that the correct entity has been selected.
- Feed Provider - Select 'CFS FirstChoice'.
- Account ID - Enter the Account ID for the wrap account.
- Do Not Import Data Before - Users can restrict the data that is imported by the feed by inputting a date. Clicking on the three dots will allow you to also enter a Do Not Import Data After date. If data has already been manually entered, this step will be necessary to prevent any duplication of manual work.
- Download Form - This allows you to print the authority form. You can also obtain the form from the Authority section above.
- Account Mapping - Linking holding accounts to a specific feed ensures transactions from this feed are allocated to these bank/investment accounts.
- Save - Click this button to ensure that any changes made are saved.
Yes, historical transactions and balances are also requested provided upon the inception of the feed.
The turnaround time will differ for each wrap and investment platform. If you do not receive a response within a week, please follow-up directly with the relevant wrap or investment platform.
How will the transactions and balances be allocated?
Transactions and balances will be posted to the asset accounts that are linked to the data feed as per the Account Mapping.
For purchases of new investments not previously held by the fund, new accounts will be created and transactions will be automatically allocated. This is provided that the user hasn’t already created a sub-account for the investment and mapped it to the feed.
Dividends and distributions will be coded to the accounts 23900 and 23800 respectively using the ASX codes. Interest income will be coded to the linked 25000 interest account.
If the Account Mapping process had not been completed when setting up the data feed within Simple Fund 360, then the system will create new accounts to allocate the data to.
If this results in duplicate asset accounts being created, please refer to our help article Wrap Feed has created duplicate accounts?
Can transactions from the feed be automatically matched and coded by the system?
The system can automatically match the following types of transactions provided that the debits and credits reconcile between the transactions and that the transactions are recorded within a similar date range.
Investment movements (Buys and Sells) and the corresponding Bank movement(s).
Income movements (Dividends and Distributions) and the corresponding Bank movement(s).
Any transactions which have not been automatically matched or coded by the system will need to be actioned manually.
How are income tax components recorded?
Simple Fund 360 automatically updates wrap feed distribution transactions with their respective final tax components when the annual statement is made available.
For more information, please refer to Distribution transactions and tax components.