Simple Invest 360

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 >>>

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 >>>

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:

• April
• March
• February

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 >>>

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 >>>

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

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:

• March
• February

Regards

The BGL Team

“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/ 

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 >>>

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 >>>

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:

• February 2022
• December 2021
• November 2021

Regards, The BGL Team

“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 

We are excited to announce the first major Simple Fund 360 and Simple Invest 360 updates for 2022! You can learn what’s new at our New Features Webinar on Tuesday 8 February 2022 from 14:00 – 15:00 AEDT. Register Now >>>  

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

Part 1 of the Trust Tax Return is now available in Simple Invest 360!

We are thrilled to announce the release of the most highly requested feature for Simple Invest 360 – the Trust Tax Return!

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

Today’s release includes:

• A brand new Trust Tax Return populated from the Simple Invest 360 tax calculation engine.
• Support for the 2021 Trust Tax Return (paper/printed copy ONLY).
• Associated schedules (CGT Schedule, Losses Schedule, Rental Schedule and Attachment Schedule).
• Dynamic link to ATO help.
• Invalid field navigation to help speed up validation.

Electronic lodgement coming soon!

Stay tuned for the release of Part 2, which will provide clients with the ability to electronically lodge the 2021 Trust Tax Return from within Simple Invest 360!

SuperStream Improvements: A number of improvements have been made the help streamline SuperStream Rollovers including the ability to:

• Validate the Unique Superannuation Identifier (USI) entered via the Fund Validation Service (FVS).
• Automatically populate APRA Fund Name and ABN on entering USI.
• Capture the receiving fund’s ABN and USI for use in Rollover Benefit Statement (RBS).
• Receive an error message where an APRA fund does not have Rollover v3 enabled.
• Check if a contact already exists before creating a new one – preventing duplicate data.

Plus, further improvements have been made to the Fund Validation Service (FVS) responses.

New Member Reports and Wishlists: New alternate Member’s Statement and Consolidated Member’s Statement reports have been added to Simple Fund 360 based on client feedback. The new reports have additional sub-headings, a summary account balance section, a detailed member section and a new graph design.

New Trustee Minute / Resolutions: The Trustee Minute / Resolutions have been improved and now provides clients with the ability to add custom text paragraphs.

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

We are excited to announce the last Simple Fund 360 and Simple Invest 360 updates for 2021!

You can learn what’s new at our New Features Webinar on Tuesday 14 December 2021 from 11:00 – 11:45 AEDT. Register Now >>> 

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

Corporate Actions: Simple Fund and Simple Invest 360 now support 14 new corporate actions.

New Data Feed: A new broker data feed has been added to the BGL Share Data Pack for AustAsia Financial Planning.

Director ID: The Australian Director ID field (added to the software last month) can now be exported using the new Contact List CSV export function.

Report Improvements: Several improvements have been made to the Reports screen. The Reports Index will now exclude failed reports as part of a report pack. Plus, a new binding/non-binding field has been added to the Binding Death Benefit Nomination Form.

SuperStream Improvements: The product team continue to improve SuperStream Rollovers validations including improved Members names, Receiving Fund / Transferring Fund names and Death Benefit details. Plus, a new warning to notify clients if the new BGLSF360 ESA has been added to the Fund Details screen without first being registered.

Report Improvements: The General Ledger Audit View reporting setting can now be filtered by Account Type. Plus, the Statement of Financial Position Net Assets section will now display when Net Assets is zero.

Company Tax Reconciliation: 3 new tax labels have been added to Company Tax Reconciliation Report:

• 7 – Reconciliation to taxable income or loss (total profit or loss amount shown at 6T)
• 8P – Opening franking account balance
• 8M – Closing franking account balance

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:

• November 2021
• October 2021
• September 2021