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Simple Invest 360

BGL adds Trust Tax Return electronic lodgment to Simple Invest 360

By BGL Update, Simple Invest 360No Comments

BGL Corporate Solutions is proud to announce the release of the Trust Tax Return electronic lodgment in its investment portfolio software solution, Simple Invest 360.

“It’s nice when you are first to market with highly requested features” said Ron Lesh, BGL’s Managing Director. “While others talk about vapourware, the BGL product teams have delivered the electronic lodgment of the Trust Return, and I am incredibly proud of them.”

“The Trust Tax Return functionality was released in two parts with the paper trust tax return and associated schedules released in February 2022” added Lesh. “This latest release, after receiving approval from the ATO, provides our clients with the ability to electronically lodge the 2021 Trust Tax Return from within Simple Invest 360 today”.

Launched in June 2021, Simple Invest 360 is an end-to-end investment portfolio management solution for accountants and financial professionals. It automates the tedious tasks of CGT record-keeping and financial reporting no matter what the tax structure – trusts, companies or individuals. Simple Invest 360 integrates with CAS 360 and Simple Fund 360 as well as providing integrated accounting workpapers, digital signing, 350+ data feeds, registry integration and BGL SmartDocs – BGL’s industry leading paper to data solution.

“Many believe that Simple Invest 360 only keeps track of the investment” noted Lesh. “They don’t realise it is a complete investment portfolio management solution that keeps track of investments, distributes profits, provides a full set of financials and makes tax return preparation and lodgment easy. It’s the whole package and eliminates the need for cross platform management and reduces the risk of data discrepancies.”

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June 1, 2022
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Simple Fund 360 and Simple Invest 360 Product Update – May 2022

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

Let’s start this update with some really EXCITING news!
Jeevan Tokhi has been appointed as the new Head of Simple Fund 360. Jeevan has been a BGL Team Member for over 17 years and will succeed Matt Crofts, who has moved on from BGL after 23 years to pursue a new opportunity in cryptocurrency – an area he is passionate about. We wish Matt all the best and congratulate Jeevan on the new role!

We are excited to announce another sensational Simple Fund 360 and Simple Invest 360 update!

You can learn what’s new at our New Features Webinar on Tuesday 24 May 2022 from 11:00 to 12:00 AEST. Register now >>>
The full release notes can be found on the BGL Community >>>

What's New?

The Documents screen just got a whole lot better!
The Documents screen in Simple Fund 360 and Simple Invest 360 has a brand-new look and several handy new features including:

  • Document folders for each ledger account to help you organise and sort documents more efficiently
  • Financial year tabs making it easier to filter documents by financial year
  • A list of balances for each account for quick reconciliation from within the Documents screen
  • Drag and Drop functionality making it faster to move documents from one folder to another
  • Plus, more tagging and permission options for greater flexibility and control

The Documents screen is not only a fantastic end of financial year information source, but it’s now your daily documents manager!
Click here to learn more >>>

International Prices: Daily prices for NYSE Arca are now available in Simple Fund 360 and Simple Invest 360. NYSE Arca is an electronic securities exchange in the U.S. on which exchange-traded products (ETPs) and equities are listed. The exchange specialises in ETP listings, which include exchange-traded funds (ETFs), exchange-traded notes (ETNs), and exchange-traded vehicles (ETVs).

Wrap Feeds: Wrap feed provider, Mason Stevens, has migrated all their accounts to a new platform. To account for this, all existing wrap feeds for Mason Stevens have been updated in Simple Fund 360 and Simple Invest 360. Click here to learn more >>>

Exclusive to Simple Invest 360

Period Compliance: An option to reinvest distributions is now available for Unit Trusts. Click here to learn more >>>

New Letter: The new Unit Valuation Letter provides a summary of each beneficiaries’ unit holding reported on the beneficiaries Screen.
Click here to learn more >>>

New Report: The new Unit Holding Report (available to Unit / Hybrid Trusts) holds information about unit holdings for beneficiaries and transactions related to these unit holdings for the selected financial year. Click here to learn more >>>

Plus, many more new features and improvements. Don’t forget to check out the full release notes on the BGL Community >>>

Previous months’ release notes can be found below:

Check out our Resources Hub!
We provide Simple Fund 360 and Simple Invest 360 users with a myriad of resources and services which can be found in the Resources Hub. The Resources Hub provides practical stuff to help you in your Simple Fund 360 and Simple Invest 360 journey. Visit Resources Hub >>>

May 19, 2022
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Simple Fund 360 and Simple Invest 360 Product Update – April 2022

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

We are excited to announce another eggcellent Simple Fund 360 and Simple Invest 360 update! You can learn what’s new at our New Features Webinar on Tuesday, 24 May 2022 at 11:00 AEST.  Register Now >>> 

The full release notes can be found on the BGL Community >>>

What's New?

Data Feeds: A new broker data feed has been added to the BGL Share Data Pack for Wentworth Securities. Plus, the HUB24 data feed has been upgraded to significantly improve support for HUB24 foreign share markets trades.

Reporting: 8 new mail merge fields have been added to custom reports and letters including tax breakdowns, pension minimums, and middle names.  

Google Addresses Integration: Support for Google addresses has been added to Entity Details, Contacts and Trust Tax Return screens.

Corporate Actions: The following Corporate Actions have been added for various Mergers and Takeovers:

  • MEP – 09 March 2022
  • SYD – 09 March 2022
  • ABR – 10 March 2022
  • AVN – 14 March 2022
  • OTW – 16 March 2022
  • PAF – 28 March 2022
  • API – 01 April 2022

Exclusive to Simple Invest 360

Trust Reporting: Enhancements have been made to Trust reporting, with multiple client wishlist items added. Including: 

  • Improvements to Unit Valuation Reports for unit classes and increased decimal places. 
  • Statement of Financial Position reports rounding improved
  • Additional manual adjustments added to the Trust Taxable Income screen

Plus, many more features and improvements. Don’t forget to check out the full release notes on the BGL Community >>>

Previous month release notes can be found:

Regards

The BGL Team

April 7, 2022
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BGL collaborates with Cointree to provide cryptocurrency price feed NBOC

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

BGL in collaboration with Cointree, a leading cryptocurrency exchange, is proud to announce the release of NBOC; an Australian based solution providing a daily price feed for hundreds of cryptocurrencies.

“This is an industry first solution, and we are extremely proud to have developed NBOC together with our long-term friends and partners at Cointree” said Ron Lesh, BGL’s Managing Director. “Unlike stocks on the ASX that cease trading every afternoon and have a single price, cryptocurrencies are traded 24/7 across multiple exchanges and in multiple countries. This makes accurate valuation challenging. So, BGL and Cointree developed NBOC to solve this problem for our clients with the goal of making cryptocurrency valuations reliable and more accessible for everyone.”

“We have witnessed a significant increase in SMSFs and trusts investing in cryptocurrency over the last five years,” said Shane Stevenson, Cointree’s CEO. “There is an increasing need to value cryptocurrency trades accurately and with confidence. The BGL team has been fantastic to work with and we are all very excited to deliver an industry-first solution to SMSFs.”

Cryptocurrencies are a growing asset class in BGL’s Simple Fund 360 and Simple Invest 360 which now administers $100’s of millions in cryptocurrencies. NBOC’s exclusive daily automated data feed will provide Simple Fund 360 and Simple Invest 360 clients with up-to-date prices for cryptocurrency for SMSFs, companies, trusts and individuals. The cryptocurrency valuation is used for calculating values for financial reports and member balances at 30 June.

NBOC aggregates the public pricing data from five of Australia’s largest and longest-running crypto exchanges; Cointree, BTC Markets, CoinSpot, CoinJar and Independent Reserve. Combining this data provides a ‘fair and reasonable’ valuation. As each exchange may have differing prices, NBOC will generate valuation taking into account these differing prices. 

“The BGL Ecosystem has 350+ partners and we are thrilled to add Cointree NBOC to the list” added Lesh.

For more information, visit: https://www.nboc.com.au/ 

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March 7, 2022
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Simple Fund 360 and Simple Invest 360 Product Update – March 2022

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

We are excited to announce another major update for Simple Fund 360 and Simple Invest 360! You can learn what’s new at our New Features Webinar on Thursday 14 April 2022 at 11:00 AEST. Register Now >>>  

The full release notes can be found on the BGL Community >>>

What's New?

BGL in collaboration with Cointree, a leading cryptocurrency exchange, is proud to announce the release of NBOC; an Australian based solution providing a daily price feed for hundreds of cryptocurrencies.

Cryptocurrencies are a growing asset class in BGL’s Simple Fund 360 and Simple Invest 360 which now administers $100’s of millions in cryptocurrencies. NBOC’s exclusive daily automated data feed will provide Simple Fund 360 and Simple Invest 360 clients with up-to-date prices for cryptocurrency for SMSFs, companies, trusts and individuals. The cryptocurrency valuation is used for calculating values for financial reports and member balances at 30 June. Click here to learn more >>>

Exclusive to Simple Fund 360

SuperStream Improvements: A new SuperStream Rollover / Release Authorities report has been added to Simple Fund 360 for audit / workpaper purposes. We continue to work to improve the SuperStream process for clients.

Smarter SMSF Integration: Two new documents have been added to Simple Fund 360 via our integration with Smarter SMSF. Click here to learn more about our seamless two-way integration >>>

Rollover In (PAYG – $55)

Generates documents to support a super benefit rollover or a super death benefit rollover for a member into the SMSF in accordance with the SuperStream requirements. The following documents will be generated as part of the order:

  • Trustee minute confirming receipt of the rollover and allocating to member’s account within prescribed time frame
  • Member notification of rollover received

Rollover Out (PAYG – $77)

Generates documents to support the payment of a super benefit rollover or a super death benefit rollover for a member from the SMSF in accordance with the SuperStream requirements. The documentation provides for:

  • full and partial rollovers,
  • transfers to APRA funds and other SMSFs.
  • Payments made by cash and in-specie.

The following documents will be generated as part of the order:

  • Member request to rollover benefits
  • For full rollover, a pre-populated ‘ATO Request for rollover of whole balance of super benefits between funds’
  • Trustee minute confirming requirements to pay the rollover and meet the SuperStream requirements within prescribed time frame.
  • Member notification confirming payment of the rollover.

Plus, many more features and improvements. Don’t forget to check out the full release notes on the BGL Community >>>

Previous release notes can be found below:

Regards, The BGL Team

March 4, 2022
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BGL releases portfolio consolidation with AVA Systems

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

BGL is proud to announce Simple Fund 360 and Simple Invest 360 are now integrated with advisory and reporting software solution, AVA Systems.

“It’s great to add AVA Systems to the BGL Ecosystem” said Ron Lesh, BGL’s Managing Director. “The integration between Simple Fund 360, Simple Invest 360 and AVA Systems provides consolidated portfolio reporting for fund, trust, company and individual portfolios giving our clients and their clients a holistic portfolio view.”

Andrew Quinn, CEO and Founder of AVA Systems, said: “We’re thrilled with this partnership and to be able to offer BGL clients AVAs grouped reporting tool straight from their platform. Personally, I have been in the corporate advisory and insolvency sector for over a decade and saw the niche for accountants needing software to become more hands for their clients. Coupled with AVAs family grouped reporting ability and AVAs integration with BGL, AVA can now allow accountants to advise on how their clients are doing swiftly and efficiently. Superannuation, investments and businesses all tied into one.”

Apart from integrating with the BGL product suite through Simple Fund 360 and Simple Invest 360, AVA also allows clients to consolidate Xero ledgers with more integrations coming in the near future. “This is a real win-win for our clients” added Lesh.

BGL currently has over 350 partners in our Ecosystem and it is great to be able to add AVA Systems to the list.

For more information about this seamless and intelligent integration, visit: http://ava-systems.com/trynow 

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February 15, 2022
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BGL adds the Trust Tax Return to Simple Invest 360!

By BGL Update, Simple Invest 360No Comments

BGL is proud to announce the release of the 2021 Trust Income Tax Return in its investment portfolio software solution, Simple Invest 360.

“This is an industry first” said Ron Lesh, BGL’s Managing Director. “No other investment platform in Australia automatically prepares income tax returns. This is a fantastic achievement by the BGL product teams and I am incredibly proud of them”

The Trust Tax Return will be released in two parts to provide BGL Simple Invest 360 clients with the opportunity to provide feedback on the functionality of the initial features in Part 1 – the paper trust income tax return, while our team works hard to release Part 2 – Electronic lodgement.

“This release includes the 2021 Trust Income Tax Return populated from the Simple Invest 360 tax calculation engine, associated schedules including the CGT Schedule, Losses Schedule, Rental Schedule, Distribution Schedules and much more” added Lesh.

“Part 2 of the release will provide clients with the ability to electronically lodge the 2021 Trust Tax Return from within Simple Invest 360. This will be the same functionality as is provided for the SMSF Annual Return in Simple Fund 360” noted Lesh.

Simple Invest 360 was launched in June 2021 to automate the tedious process of CGT record-keeping and financial reporting no matter what the tax structure – trusts, companies, partnerships or individuals. Simple Invest 360 is fully integrated with CAS 360 and Simple Fund 360 as well as providing integrated accounting workpapers, digital signing, over 350 data feeds, registry integration and BGL SmartDocs – our industry leading paper to data solution.

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February 9, 2022
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