Simple Fund 360 and Simple Invest 360 Product Update – March 2023

We are excited to announce another sensational Simple Fund 360 and Simple Invest 360 update! You can check out the full release notes and join the conversation in the BGL Community.

Learn what’s new at our New Features Webinar on Thursday 27 April 2023, at 11:00 AEST. Register Now! 

Consolidated Reporting: Do you want to stop juggling data from multiple sources to comprehensively report a family group? Say hello to the new Consolidated Reporting screen – your one-stop solution to combine investment and financial data from various entities into a single, easy-to-read view! Whether you’re managing SMSFs, Companies, Individual or Trust portfolios within Simple Fund 360 and Simple Invest 360, the consolidated view covers investment holdings and performance to asset allocation, taxation information and financials. Learn More

BGL SmartDocs – Rental Statement Integration: Say goodbye to manually entering annual rental property expenses into your SMSFs, Companies and Trusts. With BGL’s AI-powered document reader BGL SmartDocs, we’ve made it easier than ever to manage your investment properties. When a rental statement is emailed or uploaded into Simple Fund 360 or Simple Invest 360, our innovative technology extracts all the necessary data from the annual rental statements. It then creates transactions for each expense or disbursement listed on the statement. Learn More

Monthly Rental Statement Report: Introducing our new Monthly Rental Property Statement report for SMSFs, Companies, Individuals and Trusts. You’ll find all the information from our existing Rental Statement report, with a breakdown of the rental income and expenses displayed monthly. This new report makes reconciling your monthly net rental income easier, giving you a more accurate picture of the property’s financial performance. Learn More

BGL SmartDocs: With the recent release of the BGL SmartDocs ‘Email to Fund’ feature, each SMSF, company, individual and trust portfolio in Simple Fund 360 and Simple Invest 360 will now have a unique email address. In this release, we have extended this feature to include JPG and JPEG image files! Simply snap a photo of a document while on the go with your phone or tablet and email it directly to Simple Fund 360 and Simple Invest 360. BGL SmartDocs will convert your images into PDF files and extract the data before uploading it to your Documents screen. From here, BGL’s Smart Matching technology will automatically code and attach the source document to the transaction. Learn More

BGL SmartDocs: BGL will no longer send an email notification for each file sent to Simple Fund 360 and Simple Invest 360. Senders will now only receive a single “Document received” confirmation email unless any issues arise during processing. Additionally, when BGL SmartDocs fails to extract data from a file received by email, BGL SmartDocs will still import the file to the Documents screen.

Badges: A ‘default’ badge can now be selected when creating new entities.

Corporate Actions: 3 new mergers have been added to the Corporate Action screen.

Distribution Tax Automation: The Distribution Tax Automation screen will now display accruals posted without the need to refresh the page.

Entity Details: The Automatic Revaluations toggle within the Entity Details screen will now default to ‘off’ for Companies, Individuals and Trusts. Learn More

Entity Setup: The Entity Setup screen now supports a new Badges screen.

Feed Management: A notification will now display when credentials have expired in the Feed Management screen. The authority form for DDH Graham has also been updated.

Reports: The Detailed Investment Summary Comparison Report now displays more asset types. Tags from the charts of accounts will be used to classify investments under a category.

Workpapers: The order of documents can now be customised in Settings and the Workpapers supporting documents section. A new SuperStream Rollover/Release Authority report has also been added to workpapers.

Reports: The Members Statement, Consolidated Members Statement and Members Summary reports will now display the member’s age at the date of death.

The following improvements for SuperStream have been made:

• The Transaction List and SuperStream Dashboard (Fund View) screen will now display an alert if the contribution received within the last six months was from AUSPOSTSMSF ESA.
• A new column, ‘Last Contribution ESA,’ has been added to the SuperStream Email notification report.
• Notification Letters can now be generated on the SuperStream Dashboard (Fund View).
• The email notification template has been updated.

Franking Account Worksheet (Companies only): The logic in the Franking Account Worksheet has been improved for transactions posted to Account 85000 that were not linked to a bank account to appear in the next financial year. Learn More

Want to learn more about BGL’s end-to-end investment portfolio solution, Simple Invest 360? Attend our live Discovery Webinar with Simple Invest 360 Product Manager Andrew Paszko on Monday, 3 April 2023, at 12:00 AEST. Register Now!

Plus, many more new features and improvements. Remember to check out the full release notes and join the conversation in the BGL Community. Links to previous update release notes are below:

• March (09/03/2023)
• February (09/02/2023)
• December (08/12/2022)

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