Can I prepare a fund's accounts for the 2010, 2011 and 2012 financial years in Simple Fund 360?
The SMSF Annual Return can be lodged within Simple Fund 360 for the accounts of the 2014 financial year onwards.
The table below summarises which years a fund may be both processed and lodged in Simple Fund 360.
Transactions up to 30 June 2012 (minimum) must be finalised in Simple Fund as you cannot reverse these entries (30 June 2012) in SF360.
It is also required that you Balance Forward in Simple Fund to the next financial year (2013) before migration. Funds processed up to financial year end 2012 will need to processed externally (for example, in Simple Fund) and then migrated to Simple Fund 360.
Even though a fund can be migrated up and processed in Simple Fund 360 for the 2013 financial year, electronic lodgement is not available until 2014. Returns will need to be lodged manually. Alternatively, you can process and lodge a fund for the 2013 financial year in Simple Fund Desktop and then migrate to Simple Fund 360 for the 2014 financial year.