In a world of technology, sometimes it’s nice to catch up face to face!

A Simple Fund 360 Story

Christine Benson

SMSF Accountant at Poole Group

Christine Benson

Excited with the Smart Matching technology in Simple Fund 360, Christine Benson from Poole Group explains what has changed in her work life since she started using the software 1 year ago. Christine takes an in-depth exploration into how Simple Fund 360 has simplified their processes, reducing the amount of time spent on data entry every day!

About Christine

  • Completed a Master of Professional Accounting (MPA) degree at USQ in 2016.
  • Part of a team of accountants at Poole Group who specialise in assisting Trustees meet the ever-growing list of reporting and compliance obligations associated with running an SMSF.
  • Is excited at the potential value-adding services that Simple Fund 360 will allow the team to offer to new and existing clients.

About Poole Group

  • Located on the Sunshine Coast for 30+ years.
  • Recognised as a leader in accounting.
  • Specialises in business advice, SMSF administration, investments and insurance.
  • Motto: In a world of technology, sometimes it’s nice to catch up face to face!

The Challenge

  • To be able to meet new reporting requirements surrounding TBAR and TSB in a timely and cost effective manner.
  • To provide clients with real time reporting as their personal circumstances change.

The Goal

  • To reduce manual processing time and time spent waiting on information from clients.
  • To be 100% accurate and compliant.
  • To create employment and career pathways for young Australians in Australia.
  • To grow SMSF services, while focusing on advice instead of data entry.

The Solution

  • Move to Simple Fund 360!
  • Regular data feeds, Smart Matching Technology and daily share valuations reduces processing time, and enables us to provide accurate and timely information when requested by Trustees and Members.

Smart Matching technology in Simple Fund 360

To make its SMSF administration and corporate compliance more efficient, Poole Group Accountants & Investment Advisers adopted Simple Fund 360 and CAS 360 as its cloud software solution in early 2017. Since then, the Firm has transformed their fund processing by eliminating a significant number of manual processes.

“A key advantage of BGL’s Simple Fund 360 is the recently released smart matching technology”, says Christine. “For funds that are not yet set up for automatic broker feeds (for example), when you update the holdings there are automatic triggers that then go back and code any unmatched dividends to the correct account –   It’s awesome. Over our client base of approximately 500 SMSF’s, the time saved in manual coding is very noticeable”.

Christine also comments on rules set up and describes specific situations she experiences and that can be incorporated into other accountant’s routines: “Sometimes you create a rule for regular transactions, but the client changes the description and you just can’t find it. That is why the new smart matching screen is handy – it gives you a dynamic overview of what is actually happening. You can review the information and select the correct chart with the click of a button. The ‘Multiple Match’ function is a great addition to the Smart Matching screen, and we have also started using the ‘Data Entry’ function to copy and paste information from bank accounts that don’t have active Data Feeds”.

“The new Smart Matching Screen shows all the data you need, and finding the sub account is much quicker”, adds Christine. “The more we use it, the more familiar we get with it. Plus, the learning channel, training, webinars, help files and all information provided by BGL has helped our team development a lot. The ‘What’s New’ webinars have been absolutely fantastic”.

“We definitely would not have been able to meet the new reporting requirements using our old software. We would have had to do a lot of data entry and manual adjustments. But thanks to Simple Fund 360, our team’s knowledge, and all of the support we have received from BGL, our transition to BGL Simple Fund 360 went smoothly, and we have met the first of our TBAR and TSB reporting obligations easily”.

“BGL is constantly adding new features to its software. They actually listen to client suggestions which has contributed to our positive experience! I’m happy that we moved to Simple Fund 360 and CAS 360. Not only are our lives so much easier, but the team’s productivity is improved and clients are getting a better service”, stated Christine. “If you’re still thinking about moving your SMSF clients over to Simple Fund 360, don’t be afraid, it will serve you and your clients well”.

Click here if you want to see BGL’s ‘smart matching technology’ in action.

A leader in the accounting profession on the Sunshine Coast...

Poole Group has specialist advisers who will work together to provide you with a range of services and strategies to reduce your risks, grow your business and create wealth.

Phone: 07 5437 9900
Email: [email protected]
Website: www.poolegroup.com.au
Address: Level 1, 8 Innovation Parkway, Birtinya QLD 4575

If you would like participate in a BGL Case Study, please email us [email protected]

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