Written by Josh Needs
Published by Accountants Daily on 06 April 2023
Click here to read on Accountants Daily website
The collaboration will provide clients with a comprehensive analysis of a fund’s compliance and financial situation, says the firm.
BGL customers will be able to simplify their SMSF reporting thanks to the firm’s latest integration with Melbourne-based fintech accountantsGPS.
BGL managing director Ron Lesh said he was excited to bring the collaboration with accountantsGPS to his clients.
“This integration allows Simple Fund 360 clients to produce a new SMSF check-up report using accountantsGPS’s proprietary technology — a first for the SMSF market and available exclusively to BGL clients,” said Mr Lesh.
“The digital SMSF check-up report provides a comprehensive analysis of a fund’s compliance and financial situation to evaluate how a fund is progressing in many key areas.
“The report includes SMSF documentation, investment performance, investment policy development, contribution strategies, investment property performance (including debt position), insurance and estate planning.”
Mr Lesh said the report would also help Simple Fund 360 clients determine whether the trustees and members of a fund would meet their compliance obligations and longer-term investment and retirement goals.
Chief executive and co-founder of the Fiduciary Group and accountantsGPS, George Haramis, said the firm was thrilled by the capabilities it had provided in the SMSF check-up report and integrating with BGL.
“It is particularly exciting for our business to partner exclusively with BGL and offer this unique and valuable service to their accounting clients,” said Mr Haramis.
“Accountants can now undertake a comprehensive analysis of their clients’ SMSF across a number of key areas adding additional value to trustees and members and eliminating the time, cost and angst of trying to create a report manually, if achievable at all.
“It is a long-awaited development for the SMSF sector that has finally arrived.”
Head of Simple Fund 360 at BGL, Jeevan Tokhi, said the integration would streamline the creation of an SMSF report.
“The integration allows BGL clients to log in to the accountantsGPS platform using their Simple Fund 360 credentials,” said Mr Tokhi.
“Clients can then authorise Simple Fund 360 to pass information relating to all or a select number of their SMSFs to the accountantsGPS platform.
“BGL’s API will pre-fill 95 per cent of the information required to complete the SMSF check-up report, making this a simple streamlined process that takes just a few minutes per fund.”
Founded in 1983, BGL Corporate Solutions has grown to become one of the largest developers of compliance software in the world, with more than 180 employees globally.
