Migration from Simple Fund Desktop

The Chart of Accounts in Simple Fund Desktop does not split properties between residential and non-residential.

The Regulatory Return Label in the Chart of Accounts is used for this purpose and migrated as per the Table below:

SF Desktop Regulatory Label	SF360 Chart of Accounts
Assets - Real Property SMSF Assets - Residential real property SMSF Assets - LRBA Australian residential real property.	77200 Real Estate Properties ( Australian - Residential)
SMSF Assets - Non-residential real property; SMSF Assets - LRBA Australian non-residential real property.	77250 Real Estate Properties (Australian - Non-Residential).

Changes can be made to the Regulatory Return label in the Chart of Accounts prior to Migration in one of two ways:

Change the Regulatory Return Label in Simple Fund Desktop;
Allow the migration utility to complete a Regulatory Return Label switch when the fund is migrated (to use this feature Simple Fund Desktop must be updated to version 2017.1 or greater. Click here for instructions on using the utility to complete a label change.

Change the Regulatory Return label in Simple Fund Desktop

If you notice that the Chart needs adjusting and the fund has only just been migrated you can:

Changing Chart of Accounts in Simple Fund 360

Complete the steps below post migration to convert any Residential to Non-Residential or vice versa.

From the Main Toolbar, go to Accounting.
Select Transaction Recode.

Select Transaction Recode.
Investment must be selected.
Select the investment account to reclassify. All linked accounts will appear. Linked accounts will be moved to their corresponding linked account during reclassification.
Select the new control account range to reclassify the account to.
Select Confirm.
A summary will appear including the user which actioned the change.