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April 2023

A sneak peek at BGL’s Company Secretary 101: A Beginner’s Guide on-demand training course!

By BGL UpdateNo Comments

BGL has launched a comprehensive, on-demand version of its hugely popular training course, Company Secretary 101: A Beginner’s Guide, on the BGL Learning Channel!

To celebrate the launch, we invite you to attend our free live 1-hour webinar on Thursday, 27 April 2023 from 14:00 – 15:00 AEST. Register Now!

Presented by Anthony Costa, Training and Documentation Manager at BGL, this webinar will give you a sneak peek at the Company Secretary 101: A Beginner’s Guide on-demand training course. We will also briefly demonstrate the BGL Learning Channel, including how to access and navigate it.

Date: Thursday 27 April 2023
Time: 14:00 – 15:00 AEST

Can’t make it to our live webinar? Register anyway to get the recording!

REGISTER NOW!

What is the BGL Learning Channel?

The BGL Learning Channel is a free, on-demand training platform exclusively for BGL clients. It can be easily accessed via the app switcher in your CAS 360, Simple Fund 360 or Simple Invest 360 software. Click here for instructions.

Once logged in to the BGL Learning Channel, you can access a free library of on-demand, self-paced BGL product training courses and modules, including the Company Secretary 101: A Beginner’s Guide course.

What is the Company Secretary 101 training course? 

The Company Secretary 101: A Beginner’s Guide course is ideal for new ASIC registered agents, accountants and administrators or those wanting to refresh their skills. It will provide participants with an understanding of the role, responsibilities and functions of an ASIC registered agent, along with some basic concepts such as:

  • Company basics (what is a company?)
  • Compliance basics (what are the obligations of a company?)
  • Company reports, forms and Annual Reviews (oh my!)
  • What is CAS 360? (and why you’ll love it)

Course Details:

  • 4 modules (45 minutes in total)
  • Interactive exercises and final assessment
  • Certificate of achievement (2 CPD hours)
  • Exclusive to the BGL Learning Channel
  • FREE unlimited access for BGL clients

To learn more, visit www.bglcorp.com/company-secretary-course.

April 5, 2023
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BGL integrates with accountantsGPS to streamline SMSF reporting

By BGL Update, Simple Fund 360No Comments

BGL is proud to announce its multi-award-winning SMSF administration software, Simple Fund 360, now integrates with the Fintech platform, accountantsGPS, to provide its clients with a new digital SMSF Check-Up Report.

“We are thrilled to add Melbourne-based Fintech, accountantsGPS, to the BGL Ecosystem,” said BGL’s Managing Director Ron Lesh. “This integration allows Simple Fund 360 clients to produce a new SMSF Check-Up Report using accountantsGPS’ proprietary technology – a first for the SMSF market and available exclusively to BGL clients.” 

“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,” continued Lesh. “The report includes SMSF documentation, investment performance, investment policy development, contribution strategies, investment property performance (including debt position), insurance and estate planning. The report will help Simple Fund 360 clients to determine whether the Trustees and Members of a fund will meet their compliance obligations as well as their longer-term investment and retirement goals.”

George Haramis, CEO and Co-Founder of the Fiduciary Group and accountantsGPS, said: “As one of Australia’s leading digital providers of personal financial advice, we are absolutely thrilled to have progressed our digital technology capabilities to develop the SMSF Check-Up Report. It is particularly exciting for our business to partner exclusively with BGL and offer this unique and valuable service to their accounting clients. 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.”

Jeevan Tokhi, Head of Simple Fund 360 at BGL, said: “The integration allows BGL clients to log in to the accountantsGPS platform using their Simple Fund 360 credentials. 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+% 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. Importantly, it means clients can provide the report for their SMSFs without requiring an Australian Financial Services (AFS) licence.” 

BGL’s free and open API is used extensively across the industry. Over 350 data feed and integration partners in the BGL Ecosystem deliver a holistic experience to our clients.

To learn more about this integration and see it in action, attend our free live 1-hour webinar with BGL and accountantsGPS, on Thursday, 13 April 2023 at 12:00 AEST. Register Now!

About Fiduciary Financial Services Pty Ltd trading as accountantsGPS

Fiduciary is a Melbourne-based Fintech that owns both accountantsGPS and moneyGPS. 

accountantsGPS was established to provide relevant services to the accounting profession, commencing with the development of the SMSF Digital Check-Up Report. accountantsGPS also offers a comprehensive program of client-related digital advice and other related financial services, including SMSF Advice, to be made available to an accountant’s wider client base via moneyGPS – without the need for the accountant to become licensed. For more information, please visit www.app.accountantsgps.com.au. 

accountantsGPS is a proud sponsor of the Self-Managed Super Fund Association.

Digital SMSF Check-Up Report Disclaimer

It is important to note that while the Digital SMSF Check-Up Report provides detailed feedback on the health of the fund, the information contained is factual in nature, and nothing should be read to constitute financial advice, nor should the information be acted upon without professional advice.

April 4, 2023
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BGL partners Syla to automate crypto transaction data

By In the Media, NewsNo Comments

Published by The Paypers on 04 April 2023
Click here to read on The Paypers website

BGL partners Syla to automate crypto transaction data

Australia-based BGL Corporate Solutions has partnered with Australia-based cryptocurrency tax software Syla to automate crypto transaction data.

Through this partnership, BGL’s Simple Fund 360 and Simple Invest 360 solutions have become integrated with cryptocurrency tax software Syla to support the automation of cryptocurrency transaction data for SMSF, company, individual, and trust portfolios. In essence, BGL clients can sync their clients’ crypto transaction data from any digital currency exchange connected to their Syla account into their Simple Fund 360 and Simple Invest 360 software.

According to australianfintech.com.au, BGL’s free and open API is being used extensively across the industry, with more than 350 data feed and integration partners in the BGL Ecosystem working to provide a comprehensive experience to BGL clients.

BGL officials cited by the same source revealed that 1 in 4 Australians are investing in crypto, a trend that poses new challenges to accountants when it comes to compliance work, as a single portfolio can sometimes include hundreds or even thousands of crypto trades. With Syla, accountants can automate the journal entry process for every crypto purchase and sale thus saving time and effort.

Syla representatives also highlighted how tedious it can be to enter manual journals for every crypto purchase. They also talked about the partnership with BGL and how it can help clients to sync all crypto trades, income and other transaction data from any crypto exchange into their Simple Fund 360 and Simple Invest 360 software.

Cryptocurrency tax in Australia

According to koinly.io, crypto is legal in Australia and is taxed as property. Furthermore, cryptocurrency exchanges operating in Australia need to register with AUSTRAC as a financial service provider. In the eyes of the Australian government, cryptocurrencies are classified as properties and represent an asset for Capital Gains Tax (CGT) purposes.

This includes cryptocurrency coins, tokens, NFTs, and stablecoins. However, depending on the specific transaction, these digital assets may also be viewed as additional income and taxed as Income Tax. The way Australian citizens are taxed depends on the circumstance and the specifics of the transaction.

Crypto investors in Australia are subjected to a Capital Gains Tax (CGT) whenever they dispose of their assets either by selling them for AUD or another fiat currency, swapping crypto for crypto, gifting crypto, or spending it on goods and services. Holding crypto for at least a year before disposing of it makes the holder eligible for a 50% discount on any capital gain.

April 4, 2023
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BGL provides automated crypto data with Syla

By Accountants Daily, In the Media, NewsNo Comments

Written by Josh Needs
Published by Accountants Daily on 04 April 2023
Click here to read on Accountants Daily website

The integration will make it easier for accountants facing increased crypto compliance measures as digital currency increases in popularity, says the firm.

BGL customers can now automatically sync cryptocurrency data to their accounts thanks to integration with Australian cryptocurrency tax software Syla.

BGL’s managing director Ron Lesh said he was pleased to bring the Syla integration to the firm’s customers.

“We are excited to add Syla to the BGL ecosystem,” said Mr Lesh.

“The integration allows BGL clients to easily sync their clients’ crypto transaction data from any digital currency exchange connected to their Syla account directly into their Simple Fund 360 and Simple Invest 360 software.”

Mr Lesh said software needed to accommodate greater tracking of cryptocurrency data as accountants tried to meet its compliance demands.

“With one in four Australians investing in crypto, it’s becoming more challenging for accountants to get the compliance work done, particularly when investors could be using any crypto exchange,” he said.

“A single portfolio could have hundreds or even thousands of crypto trades.”

“Integrating Syla will automate the journal entry process for every crypto purchase and sale, saving BGL’s Simple Fund 360 and Simple Invest 360 clients significant time and effort.”

Syla co-founder Nick Christie agreed with Mr Lesh and said the integration would make meeting compliance obligations easier when it came to cryptocurrency.

“A portfolio with crypto investments could be a bit of a trauma-inducing experience in the past, particularly when it came to compliance work,” said Mr Christie.

“The tedious entry of manual journals for every crypto purchase and sale surely sent many accountants close to madness. With the launch of this integration between Syla and BGL, we’ve really flipped the experience entirely around.”

“Manual journals are out, and instant sync is in. BGL clients can now sync all crypto trades, income and other transaction data from any crypto exchange into their Simple Fund 360 and Simple Invest 360 software, ensuring the compliance work can be easily sorted.”

Founded in 2018, Syla was developed by Australian accountants to make it simpler to deal with crypto and blockchain tax compliance. The firm says its automation software equips investors, traders and businesses with certainty and accuracy when dealing with their crypto investments.

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.

April 4, 2023
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BGL integrates with Syla to automate crypto transaction data

By Australian FinTech, In the Media, IndustryNo Comments

Published by Australian Fintech on 03 April 2023
Click here to read on the Australian Fintech website

BGL integrates with Syla to automate crypto transaction data

BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, has announced its Simple Fund 360 and Simple Invest 360 solutions are now integrated with Australian cryptocurrency tax software, Syla, to automate cryptocurrency transaction data for SMSF, company, individual and trust portfolios. “We are excited to add Syla to the BGL Ecosystem,” said Ron Lesh, BGL’s Managing Director.

“The integration allows BGL clients to easily sync their clients’ crypto transaction data from any digital currency exchange connected to their Syla account directly into their Simple Fund 360 and Simple Invest 360 software.”

“With 1 in 4 Australians investing in crypto, it’s becoming more challenging for accountants to get the compliance work done, particularly when investors could be using any crypto exchange,” added Lesh. “A single portfolio could have hundreds or even thousands of crypto trades. Integrating Syla will automate the journal entry process for every crypto purchase and sale, saving BGL’s Simple Fund 360 and Simple Invest 360 clients significant time and effort.”

Nick Christie, Co-Founder of Syla, said, “A portfolio with crypto investments could be a bit of a trauma-inducing experience in the past, particularly when it came to compliance work. The tedious entry of manual journals for every crypto purchase and sale surely sent many accountants close to madness. With the launch of this integration between Syla and BGL, we’ve really flipped the experience entirely around. Manual journals are out, and instant sync is in.

BGL clients can now sync all crypto trades, income and other transaction data from any crypto exchange into their Simple Fund 360 and Simple Invest 360 software, ensuring the compliance work can be easily sorted.”

BGL’s free and open API is highly regarded and used extensively across the industry, with 350+ data feed and integration partners in the BGL Ecosystem delivering a holistic experience to BGL clients.

For more information, please visit here.

April 3, 2023
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BGL integrates with Syla to automate crypto transaction data

By In the Media, Industry, XU MagazineNo Comments

Published by XU Magazine on 03 April 2023
Click here to read on the XU Magazine website

BGL integrates with Syla to automate crypto transaction data

BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, has announced its Simple Fund 360 and Simple Invest 360 solutions are now integrated with Australian cryptocurrency tax software, Syla, to automate cryptocurrency transaction data for SMSF, company, individual and trust portfolios. “We are excited to add Syla to the BGL Ecosystem,” said Ron Lesh, BGL’s Managing Director.

“The integration allows BGL clients to easily sync their clients’ crypto transaction data from any digital currency exchange connected to their Syla account directly into their Simple Fund 360 and Simple Invest 360 software.”

“With 1 in 4 Australians investing in crypto, it’s becoming more challenging for accountants to get the compliance work done, particularly when investors could be using any crypto exchange,” added Lesh. “A single portfolio could have hundreds or even thousands of crypto trades. Integrating Syla will automate the journal entry process for every crypto purchase and sale, saving BGL’s Simple Fund 360 and Simple Invest 360 clients significant time and effort.”

Nick Christie, Co-Founder of Syla, said, “A portfolio with crypto investments could be a bit of a trauma-inducing experience in the past, particularly when it came to compliance work. The tedious entry of manual journals for every crypto purchase and sale surely sent many accountants close to madness. With the launch of this integration between Syla and BGL, we’ve really flipped the experience entirely around. Manual journals are out, and instant sync is in.

BGL clients can now sync all crypto trades, income and other transaction data from any crypto exchange into their Simple Fund 360 and Simple Invest 360 software, ensuring the compliance work can be easily sorted.”

BGL’s free and open API is highly regarded and used extensively across the industry, with 350+ data feed and integration partners in the BGL Ecosystem delivering a holistic experience to BGL clients.

For more information, please visit here.

April 3, 2023
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