Segments of the SMSF industry are still concerned about moving to the cloud as it will result in some fundamental changes to how they currently interact with clients, according to software veteran.
BT Financial group has announced a partnership with software provider BGL Corporate Solutions, in a move that it hopes will help accountants make the most of BT Panorama’s self-managed superannuation fund (SMSF) solution.
BT Financial Group has partnered with SMSF software provider BGL to set up two-way data feeds between the two software platforms.
BGL has increased its activity for building data integration with the accounting community through its cloud products, Simple Fund 360 and CAS 360.
One accounting software veteran has hit out at the ATO for putting commercially “unrealistic” expectations on software companies, as it pushes forward with new systems for tax professionals.
The ATO has proposed new standards for software providers which one software head has criticised as “unrealistic” and likely to result in substantial cost.
The current capability of automation within SMSF administration services was not yet at a point where it could be substituted for the judgment of a human adviser, according to a panel of executives.
Advisers and accountants reporting under the transfer balance account report (TBAR) regime for their pension SMSF clients must now be using up-to-date software in their practices rather than spreadsheets, an administrator has warned.
BGL managing director Ron Lesh said the reliability of data feeds continues to be an issue for the SMSF industry.
An online trading platform which pitches itself as a “dynamic, always-on social investment network of like-minded investors” has announced a $7.5 million initial public offering.
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