BGLCorp

Published by XU Magazine on 23 August 2023
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BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF), investment management and AI powered paper-to-data solutions, is proud to announce the release of a Division 7A loan calculator and manager feature in its accounting, investment and tax software, Simple Invest 360.

“We’re thrilled to introduce the Division 7A loan manager in Simple Invest 360,” said Ron Lesh, BGL’s Managing Director. “This feature equips BGL clients with cutting-edge tools to help them tackle the complexities of Division 7A loans, a fundamental component of contemporary accounting management that affects trusts and companies.”

Andrew Paszko, Simple Invest 360 Product Manager at BGL, said: “The Division 7A feature is the result of feedback from clients on the challenges faced by businesses dealing with Division 7A loans. This feature will not only calculate the minimum repayments and interest payments but will then post the journals for these payments to the ledger. These transactions can be posted for both companies as the lender as well as a trust or shareholders as the borrower.”

“Our Division 7A feature goes beyond traditional financial management software,” added Lesh. “With its integrated capabilities, users can easily reconcile ledger balances, ensuring financial accuracy and compliance. But what truly sets this feature apart is its seamless integration with dividend payments. We understand the common practice of offsetting minimum repayments, and our feature is designed to accommodate this efficiently.”

The Division 7A feature introduces a global entity view to Simple Invest 360, providing a comprehensive overview of Division 7A balances across entities and simplifying monitoring processes. Additionally, the feature offers clear differentiation between secured and unsecured loans, catering for varying loan terms. The intuitive user interface allows easy access to loan worksheets, ledger balances and documents linked to loans, streamlining the process of posting journals for dividends and interest and ensuring a cohesive and integrated workflow.

Published by XU Magazine on 21 August 2023
Click here to read on the XU Magazine website

BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF), investment management and AI powered paper-to-data solutions, is proud to celebrate the resounding success of its BGL REGTECH 2023 event, which drew 22 sponsors and 1,300 clients and prospects across 6 locations.‍

BGL REGTECH 2023 is BGL’s 6th annual accounting and technology event, which took place in Sydney, Brisbane, Adelaide, Perth, Hobart and Melbourne through August 2023. The Melbourne event was also live-streamed to BGL clients in rural and regional Australia and overseas.

“BGL REGTECH 2023 has been a resounding success and I’m immensely proud of the BGL team for organising such an impactful event,” says BGL’s Managing Director Ron Lesh. “I’m also incredibly grateful to our event sponsors, guest speakers and clients whose support has been instrumental in making this event possible.”

The event featured an all-star lineup of industry experts, including Sharon McClafferty, Co-Founder and CEO at Slipstream and Steph Hinds, Head Ninja at Growthwise. BGL’s Ron Lesh, Founder and Managing Director, Daniel Tramontana, CEO and Warren Renden, General Manager – CAS 360, Ecosystem and Brand, also presented at the event.

“This year, BGL REGTECH focused on helping people Retain, Educate and Grow themselves, their teams and their clients through the power of technology, people, processes and experiences,” continued Lesh. “We also announced a slew of innovative new features, integrations and products, or what we like to call our WOW moments.” Notable highlights included the BETA release of BGL SmartDocs 360, our AI-powered paper-to-data software solution and BGLiD, a client identity verification solution available to all BGL clients in late August 2023.

“We’ve seen and will continue to see many positive changes and innovations happening at BGL, benefiting our clients and our team. Sharing this journey with the amazing attendees of BGL REGTECH 2023 has been truly exciting and humbling. We can’t wait to welcome everyone at BGL REGTECH 2024!” concluded Lesh.

Published by XU Magazine on 08 August 2023
Click here to read on the XU Magazine website

GL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment management software, is proud to announce the launch of its client identity verification solution, BGLiD.

BGLiD launched at BGL REGTECH, Sydney on 1 August 2023. BGL REGTECH is BGL’s annual event that this year is focused on helping its clients Retain, Educate and Grow.

“This is another great achievement by the BGL team and I’m extremely proud of everyone involved,” said Ron Lesh, BGL’s Managing Director. “BGLiD will simplify the client identity verification process for CAS 360 clients, eliminating the need for manual ID verification.”

BGLiD is a simple client identity verification solution seamlessly integrated with BGL’s CAS 360 – the world’s leading company and trust management solution. BGLiD validates IDs across various datasets, including Government ID, Anti Money Laundering, Global Sanctions and Adverse News databases to verify an individual’s identity in seconds. BGLiD is powered by FrankieOne.

Warren Renden, General Manager – CAS 360, Ecosystem and Brand at BGL, said: “We are in the business of solving problems for our clients. BGLiD allows any CAS 360 client to complete ID verifications and AML checks using their existing CAS 360 contact data, with no set-up required.”

BGLiD will be released to all BGL clients in late August 2023.

CAS 360 now supports 3,300+ clients managing 850,000+ companies and 150,000+ trusts across Australia, New Zealand and Singapore, with releases in Hong Kong and the United Kingdom in the not-too-distant future.

“We are still at the beginning of the CAS 360 journey. With Hong Kong and the United Kingdom coming soon, 1,000,000+ companies is next on our charts,” concluded Lesh.