BGL Corporate Solutions, Australia’s leading developer of SMSF administration and ASIC corporate compliance software solutions, is proud to announce an exciting new partnership with Jet Convert, a Noosa based Australian company specialising in advanced data conversion utilities, to provide BGL clients with a simple process for converting paper bank statements to electronic data.
“We are very excited about this new partnership” says Ron Lesh, BGL’s Managing Director. “BGL clients will now be able to fill the bank data feed gap by converting PDF bank statements to upload-ready files for Simple Fund 360, our market leading cloud SMSF software solution. Client can do this for any period, be it part of a year prior to the establishment of a bank data feed or for the whole year for bank data not currently supported by our automated system”.
Jet Convert have developed an automated process to convert bank statement PDF’s to CSV data confirming account balances and where necessary, manually ensuing the quality of data. BGL clients will receive clean files with only relevant transactions within 3 business days.
According to Hugh Butler, Jet Convert’s General Manager, “Our OCR process provides automated testing along with a manual checking of OCR failures. Clients receive the CSV files, along with a Completion Report that provides statement checks, page checks, balances checks and account checks”
“This service is going to save our clients hundreds of hours of manual processing” added Lesh. “Simple Fund 360 is very clever with manual bank data imports – it processes them exactly the same was as an automated data feed using our BGL SmartPost II technology”
“Over the past few months BGL has added a number of services to make the migration from our Simple Fund Desktop software to Simple Fund 360. This new service with Jet Convert really does fill the gap” said Lesh.
BGL and Jet Convert have negotiated a special BGL client only price for this service. This service should be a similar cost to BGL’s automated bank data service.
This new service is available to BGL clients from today.
Can it be done on Simple Fund desktop version?
In theory, yes you can use this in Simple Fund Desktop.