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BGL updates integration with MYOB GreatSoft

By BGL Update, CAS 360, Simple Fund 360, Simple Invest 360No Comments

BGL is proud to announce the release of its enhanced integration with leading business management platform MYOB GreatSoft practice management.

“We are excited to roll out our new and improved two-way practice management integration with GreatSoft,” said BGL’s Managing Director Ron Lesh. “This integration streamlines the management of company, SMSF, trust, and individual client and contact data across four apps in a single database. This eliminates the need for manual and duplicated data entry, freeing up valuable time and resources for clients.“

Valantis Vais, Head of Product – Enterprise for MYOB, said, “Accounting Practices are struggling with an industry-wide shortage of Accountants, so reducing the amount of precious time wasted keeping data in sync between BGL’s suite of products and MYOB GreatSoft with a seamless 2-way workflow will help reduce pressure on the existing teams. Plus, this integration demonstrates our commitment to creating an Open Business Management Platform for Accountants.”

The new and improved two-way BGL Practice Management Integration (Version 2) connects MYOB’s GreatSoft practice management software with the BGL Suite, which includes company, trust and AML management software, CAS 360, SMSF administration software, Simple Fund 360 and accounting, investment and tax software, Simple Invest 360.

“The integration features client and contact level synchronisation, prompts to review a client/contact before syncing to an app and provides notifications for duplicate clients/contacts,” continued Lesh. “It also includes the ability to add clients/contacts in bulk, view client/contact relationships and change history. All clients/contacts can be searched and filtered in the Client List screen”. 

“So, if a client’s details change in the BGL Suite (CAS 360, Simple Fund 360 and Simple Invest 360), this change is automatically updated in GreatSoft,” added Lesh. “Also, when client or contact details change in any app, our company compliance software, CAS 360, will prompt clients to prepare all the relevant ASIC compliance documents.” 

BGL plans to extend this integration to other practice management partners.

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

Learn more about the BGL + GreatSoft Integration

About MYOB

MYOB is a leading business management platform in Australia and New Zealand, providing solutions to streamline key business workflows, from finance and inventory management to employee onboarding and payroll. With a core purpose of helping more businesses with 0 to 1000 employees in Australia and New Zealand start, survive and succeed, MYOB offers a richly curated, integrated and flexible platform that enables a business to make better decisions, unlock its full potential and confidently grow. For more information visit myob.com or follow MYOB on LinkedIn. For more information about MYOB’s Greatsoft solution, please visit GreatSoft: A Cloud Practice Management Solution For Growing Accounting Firms (myob.com).

September 11, 2023
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BGL releases Division 7A loan calculator in Simple Invest 360

By BGL Update, Simple Invest 360No Comments

BGL 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.

Click here to learn more
August 23, 2023
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BGL integrates with Compare n Save – a hassle-free loan comparison solution

By BGL Update, Simple Fund 360, Simple Invest 360No Comments

BGL is proud to announce the launch of its integration with loan comparison service provider, Compare n Save.

“We are excited to add Compare n Save to the BGL Ecosystem,” said Ron Lesh, BGL’s Managing Director. “This integration will provide BGL’s Simple Fund 360 and Simple Invest 360 clients with a hassle-free and simple loan comparison solution that will add value to their customer service offering.”

Compare n Save is a fintech platform with an ownership stake in TAG Finance and Loans, a traditional mortgage broking fulfilment business. “We are extremely proud of the BGL partnership. It is a glowing endorsement of our fintech and fulfilment capabilities and further strengthens our relationship with BGL”, said Sal Cinque, Director of Compare n Save and CEO of TAG Finance and Loans.

Brad Wilkinson, Head of Ecosystem at BGL, said: “The BGL and Compare n Save integration will help advisors, accountants, and other BGL clients compare hundreds of loans from more than 30 of Australia’s top banks and other lenders for home, investment and SMSFs. It will also help clients easily structure debt for property purchases and conduct regular loan reviews to lower interest costs for their clients. Loans are fulfilled via an experienced broker network with access to over 500 brokers nationally.”

BGL clients can access the Compare n Save app within their Simple Fund 360 and Simple Invest 360 Property Console screen or via the BGL Ecosystem.

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.

May 22, 2023
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