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Important Changes to GuestTrack powered by BGL – our QR code check-in app

By BGL Update, Homepage, TechnologyNo Comments

GuestTrack started as an initiative by BGL to help our clients (Accountants) help their clients (Small Businesses) track guests in a COVID-19 environment. As industry leading software developers, GuestTrack was something we released quickly to relieve some stress for our community.

Today, GuestTrack is spectacular market leading guest check-in tool and as we now enter a new normal, we are introducing subscription options so we can recover some of our running costs. These changes come into affect for existing GuestTrack users on Monday 1 February 2021.

All current GuestTrack clients continue to receive a FREE subscription.

GuestTrack Subscription Free Basic Enterprise Not-for-profit*
Pricing Free $9 + GST per month Contact Us Free
Inclusions
Google Ads ✔️ ❌ ❌ ❌
Unlimited Check-ins/outs ✔️ ✔️ ✔️ ✔️
Unlimited QR Codes ✔️ ✔️ ✔️ ✔️
Customisable Form ✔️ ✔️ ✔️ ✔️
56 Day Data Retention ✔️ ✔️ ✔️ ✔️
Email & SMS Notifications ❌ ❌ ✔️ ❌
Phone, ID & Face Verification ❌ ❌ ✔️ ❌
CRM, Booking & API Integration ❌ ❌ ✔️ ❌
AI Analysis & Data Prediction ❌ ❌ ✔️ ❌

* To be eligible for the Not-for-profit GuestTrack Subscription, you must satisfy one of the following requirements: (1) Your registered email ends with .gov.au (2) Your organisation is listed on the ACNC.

Visit the GuestTrack Pricing Page

Reminder: BGL cannot sell, share or profit from any of the personal data collected by GuestTrack as it is encrypted, and we simply do not have access to it. The data is owned by the GuestTrack account owner (business using GuestTrack) and no one else can decrypt or access this data. GuestTrack Terms and Conditions | Privacy Policy

January 28, 2021
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BGL welcomes SMSF Association Cost of Operating an SMSF Report

By BGL Update, Homepage, IndustryNo Comments

BGL welcomes the release of the Rice Warner SMSF cost of operating an SMSF report prepared for the SMSF Association.

“It’s great to see a proper analysis of SMSF cost and return data” said BGL’s Managing Director, Ron Lesh. “And knowing the vast majority of the data came from BGL’s Simple Fund 360 clients makes me even more proud.”

“The report shows the cost of running an SMSF highlighting that larger balance SMSFs cost less to operate than any other type of superannuation fund or account” noted Lesh. “And for smaller balances, SMSFs are comparable with APRA regulated funds”

The report data was sourced from BGL’s Simple Fund 360 and Super Concepts SuperMate software. “It is great to see 2 industry software companies working with Rice Warner to provide the data required to prepare the report at no cost to the SMSFA” added Lesh. “It is unfortunate that not all industry software companies chose to participate”.

“The other data I also found fascinating was the table on Page 21 of the Report showing investment returns for the last 14 years “says Lesh. “From 2005 to 2018, for 9 of the 14 years returns shown in the table, SMSFs performed better than APRA regulated funds”

“Clearly this shows ASIC’s SMSFs are not for everyone flyer was absolute rubbish” stated Lesh. “I said this flyer was misleading and did not fairly represent the cost of running an SMSF. The Rice Warner report validates my statements and furthermore shows that SMSFs with a balance of less than $500,000 are clearly cost competitive with APRA funds dispelling statements made in the December 2018 Productivity Commission report”

December 7, 2020
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BGL lobbies Treasury to drop 45-day reporting proposal

By Homepage, In the Media, IndustryNo Comments

Software SMSF Adviser Logo

Published by SMSF Adviser, powered by MOMENTUM MEDIA
Written by Miranda Brownlee on 19 November 2020

SMSF software firm BGL has called on the Treasury to drop its proposed 45-day preparation requirement for SMSF accounts, with the SMSF industry having “already suffered through a year of extreme stress”.

BGL managing director Ron Lesh said the proposal to require SMSFs to prepare their financial statements 45 days before their lodgement date makes no sense and could lead to increased instances of backdating.

“I am trying to understand why this is necessary or where this has come from. It will not improve SMSF reporting, it will not improve SMSF audits, it will not improve SMSF annual return lodgements — so why has it been proposed?” Mr Lesh said.

“In fact, in my view, it could do the opposite. It could put SMSF trustees in a position where they need to backdate accounts — for no reason or benefit.”

Mr Lesh said the SMSF industry has made it clear that the change is unnecessary and that it will simply be an additional burden on SMSF trustees, administrators and auditors.

“I thought post-COVID-19 we were trying to cut unnecessary red tape rather than add more regulations to an already incredibly overregulated industry,” Mr Lesh continued.

“I hope Treasury is listening. A clear statement from Treasury or the government that this change will be dropped is needed now before it causes more angst in the SMSF industry that has already suffered through a year of extreme stress.”

BGL is one of the latest firms to slam the measure, with the accounting bodies and associations such as The Tax Institute and the SMSF Association all expressing concern about the proposed reporting requirement.

“The proposed amendment will achieve nothing beyond forcing the preparation of SMSF accounts into a tighter time frame which will place additional pressure on accountants and those assisting SMSFs in the preparation of their accounts,” The Tax Institute said in its submission.

“Around 99 per cent of SMSFs use a tax agent to lodge their annual return, and tax agents cannot afford to lose 45 days out of their schedule to prepare SMSF accounts earlier in order to meet the proposed requirement.”

November 20, 2020
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GuestTrack helps over 4,000 businesses with its powerful guest check-in solution

By BGL Update, Homepage, TechnologyNo Comments

In June 2020, BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC corporate compliance solutions, launched GuestTrack – a free QR code driven, browser-based application to help businesses collect and store guest data.

“GuestTrack makes it really easy for businesses and organisations of all shapes and sizes to keep a secure, digital visitors log” said BGL’s Managing Director, Ron Lesh. “This app is fast and easy for guests to use therefore providing a sensational customer check-in experience.”

Since its release just 4 months ago, GuestTrack now supports over 4,000 organisations across Australia, Hong Kong, India, Malaysia, Philippines and the USA with a satisfaction rate of 99.85% and over 2.24 million guest check-ins.

All data collected by GuestTrack is encrypted to the highest security standard with Amazon Web Services (AWS) Key Management Service (KMS). KMS is designed so no one, including the BGL and AWS teams, can decrypt or access the data. 

“The BGL team continues to work hard to further develop this amazing app, recently adding new features including the ability for users to create custom form fields, unlimited QR Codes and much more – all to create a seamless and engaging check-in experience for guests.” continued Lesh. “What started out as an initiative to help our clients’ clients, has turned out to be a spectacular tool. As we enter the new normal, apps like GuestTrack will be a key feature in all organisations for years to come.”

Learn more and sign up FREE today at guesttrack.com.au!

October 22, 2020
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Simple Fund 360 Software Update Release October 2020

By BGL Update, Homepage, Product Updates, Simple Fund 360, Simple Invest 360No Comments

The Simple Fund 360 and Simple Invest 360 teams have delivered their first release for October 2020 with some exciting new features and client wish list items ticked off! Check out the full release notes on the BGL Community >>>

Learn what’s new direct from our product team by attending our New Features Webinar on 13 October at 11:30 AEDT. Register Now >>>

Digital End to End

The team continues its focus on removing paper and improving the digital experience for clients. This October, we have added a new Upload Authority Form feature to make the bank feed authority setup process faster and more secure for clients. We have also made it simpler for clients to upload any CSV files they may have received from clients and keep track of these in our Feed Management screen.

We have simplified the 2020 tax reporting season by providing you with digital distribution tax statement data for over 530 commonly held investments. This update supports:

  • All Vanguard ETFs and popular Vanguard managed investments
  • All BetaShare ETFs
  • All ETFSecurity ETFs

Continuing the digital theme, we have added a Compilation Report and Engagement Letter to the growing list of documents that can now be digitally signed using both Adobe Sign and DocuSign.

For Financial Planning focused firms, we are excited to announce a new Time Weighted Performance page that has been modified from our mobile interface to take advantage of the larger screen real estate. This MOBILE first approach allows both you and your clients to VIEW the same performance data, without the need to switch to a separate Client View application. This is available for both our Simple Fund 360 and Simple Invest 360 Beta Clients.

Client Wish lists

We have managed to tick off several clients wish lists. Users can now view a contact’s mobile and email address directly from the Fund Relationships screen. Plus, the CGT Register Detailed Report when exported to excel now includes the description of CGT transaction.

Order Documents

The Smarter SMSF Order Document page has a fresh new look! In addition, 3 new documents can now be completed, including;

  • Add or Remove a Fund Member
  • Lost Trust Deed
  • Lost Pension Deed (Affirmation and Confirmation)

Simple Invest 360 (Closed Beta)

We have added several new features to Simple Invest 360:

  • Added support for individual investors. Simple Invest 360 now supports all investor types – Individuals, Trusts and Companies.
  • A new Appropriation Statement report now available for Trusts and Companies.
  • A new Tax Reconciliation report now available for Trusts.

Plus, digital signing solutions Adobe Sign and DocuSign are now available for the following documents in Simple Invest 360:

  • Compilation Report Company
  • Compilation Report Trust
  • Trustee Minute – Family Trust
  • Trustee Minute – Unit Trust
  • Trustee Resolution – Family Trust
  • Trustee Resolution – Unit trust
  • Trustee Declaration
  • Directors Declaration

If you are interested in shaping the Early Release of Simple Invest 360, click here to register your interest for closed beta >>>

Don’t forget to register for BGL REGTECH 2020 to see get a sneak peek at Stage 2 of our AI-Powered BGL Smart Docs feature and a look at Simple Invest 360 – the next evolution in automating your Investments for Trusts, Companies and Individuals.

October 9, 2020
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What’s new in your BGL Data Services?

By BGL Update, Homepage, Product Updates, Simple Fund 360No Comments

The BGL Data Services Team have recently released some exciting new features and enhancements in Simple Fund 360 and we would love to share these with you.

New Features and Feeds

What’s in the Pipeline?

The Product Team are currently working on a new signed authority forms upload. This feature will streamline the authority form process and enhance security for you and your clients. Keep an eye out on the BGL Community for further announcements! In the meantime, please continue to email your authority forms to [email protected].

The BGL Client Experience Team are working closely with the BGL Data Services Team to improve your experience with us. If you have any feedback, please email us at [email protected].

ANZ Authority Forms

We have been experiencing delays in processing ANZ authority forms. The BGL Data Services Team are actively working with ANZ to rectify these problems. To help clients in dealing with these processing delays, we are working with ANZ to provide clients with up to TWO YEARS HISTORICAL DATA!

We sincerely apologise for these delays and appreciate your patience with us.

Bankwest Managed Investments

The Bankwest Cash Management Account product was closed on 31 August 2020. BGL is working to update our systems to reflect this change. For further information, please refer to the BWAMI website.

Please Note: If you have any BWAMI accounts registered with BGL’s Bank Data Service, these accounts will be updated to ‘Account Closed’.

We look forward to sharing more with you soon!

October 1, 2020
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