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BGL Update

Simple Fund 360 and Simple Invest 360 Product Update – September 2022

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

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, 27 September 2022 at 11:00 AEST. Register Now!

Check out the full release notes and join the conversation on the BGL Community.

What's New?

Ensure your client/contact data is always in sync with the BGL + XPM integration!

We have released Version 2 of the integration between the BGL Suite (which includes CAS 360, Simple Fund 360 and Simple Invest 360) and Xero Practice Manager (XPM). This new and improved two-way integration allows firms to efficiently manage client and contact data across the four applications in a single database! With features such as:

  • Real-time client and contact synchronisation
  • Prompts to review a client/contact before synchronising
  • Notification of duplicate client/contacts
  • Ability to add clients/contacts in bulk 
  • Ability to view client/contact relationships and change history
  • A dedicated screen to view and filter the integrated client list

Plus, when client/contact details are changed in any app, CAS 360 will prompt clients to prepare all the relevant compliance documents and forms for lodgment with ASIC. 

Corporate Actions: The following mergers have been added to Corporate Actions:

  • VMY.AX
  • UWL.AX

The Alphabet (GOOG.NDQ/GOOGL.NDQ) 1-20 Share Split is also now supported.

Entity Dashboard: Labels have been added to the Entity Dashboard. These are displayed next to the Financial Year. 

Contacts: A Find Matches function has been added to the Contacts screen, allowing clients to view any contacts with matching names for simplified management (Learn More).

Exclusive to Simple Fund 360

BGL's SMSF administration software solution

Fund Dashboard: A new Members panel has been added to the Fund Dashboard to provide a snapshot of all members in an SMSF including a breakdown of member balances and pension cap limits (Learn More).

New Documents: 2 new SMSF documents are now available via PAYG or a subscription with our document partner, Smarter SMSF. Click here to learn more about the documents available via Smarter SMSF

SuperStream Dashboard: A new Superstream Contribution Report is now available on the Superstream Contribution tab in Simple Fund 360 to provide easier access to contribution data. 

Plus, the Superstream Contribution tab will display the last update date and a sum total for all members.

Exclusive to Simple Invest 360

BGL's investment portfolio management software solution

Reports: Clients now have the ability to add any liability account to the Notes to the Financial Statements. This is controlled by the badge setting (Learn More).

Want to learn more about BGL’s end-to-end investment portfolio solution, Simple Invest 360? Attend our live Discovery Webinar with Simple Invest 360 Product Manager, Andrew Paszko on Tuesday, 13 September at 11:00 AEST. Register Now!

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

Accounting Industry News: 3 things you should know this week!

By BGL UpdateNo Comments

Here are three things that I hope you find of value: One Industry news, One BGL news, and One tool to help your firm.

Industry News

Jim Chalmers announced that the government would be looking to implement the 120% tax deduction for small businesses that invest in training and digital uptake. Furthermore, they are looking to backdate this to the 29th of March.

This means that as long as your firm has an annual turnover of less than $50 million and invests in digital technology by 30 June 2023 the tax deduction can be claimed. A good accountant will tell you that it never makes sense to spend just for the sake of receiving a deduction. But as the old saying goes, you need to spend money to make money, right?

BGL News

At BGL it was business as usual, as we won the SMSF Adviser 2022 award for Best SMSF Software Provider. This award is especially coveted by the SMSF software space as it relies on accounting firms actually casting their votes rather than the advertising spend allocated to whoever is running the award. 

BGL Hint

If you need a high impact on efficiency with a low cost of implementation, look no further than BGL’s Share Data Pack – which is available as an “add-on” for BGL’s Simple Fund 360 and Simple Invest 360 Professional Edition software subscriptions at just $40 plus GST per fund/entity, per annum (Learn More). The Share Data Pack will:

  1. Confirm balances back to major registries on a quarterly basis.
  2. Automatically import contract notes from the broker
  3. Update investment balances

For anyone that has spent time logging into the share registry by each single investment, inputting HIN and postcode to check that unit balances are correct, they will know that having all that information available on-screen and up to date is a lifesaver.

Furthermore, recent updates mean that now the investment balances are updated within minutes of an order being executed by the broker. Did somebody say real-time data?

For a detailed explanation of BGL’s Share Data Pack, watch our webinar recording at https://youtu.be/G15CRnDt1gY.

Otherwise, simply click watch our quick video below!

Learn more about Simple Fund 360Learn more about Simple Invest 360

BGL releases automated document reminders in CAS 360

By BGL Update, CAS 360No Comments

BGL is proud to announce that automated document reminders are now available in its company compliance software, CAS 360.

“It’s fantastic to release another highly anticipated feature,” said Ron Lesh, BGL’s Managing Director. “Set and forget document reminders will make following up with clients for outstanding company change documents, Annual Returns/Reviews and trust documents a breeze!”

“Traditionally, company professionals have used spreadsheets and calendars to track documents sent by email or snail-mail to their clients for signing, approval or some other action,” continued Lesh. “Sending consistent document reminders is crucial to avoid late lodgment penalties, but without automation, the process is tedious and time-consuming.”

“When a document is prepared in CAS 360, CAS 360 will automatically create reminders to be sent to their client,” said Lesh. “Clients have complete control, selecting the date and time of each reminder, if the reminders are sent by email, SMS or both, the email/SMS template, who the sender is and who the reminders go to.”

“When set, the document reminders appear as pending in the Document Deadline Alert and can be managed in CAS 360’s Pending Outbox screen,” added Lesh. “Once a document is lodged, the pending reminders are disabled. Plus, it’s easy to customise the reminders based on the needs of the client and toggle them on or off when required. It’s an excellent and well thought out feature which will save our clients heaps of time.”

“When a client logs in to the product, CAS 360 will show an Automation Report that details the automated tasks CAS 360 completed since their last login. It’s CAS 360 doing the manual work for you,” Lesh noted. 

This automated document reminder functionality comes just months after BGL released its automated debt reminders in CAS 360, which sends automatic reminders to clients for outstanding debts to ASIC. “For anyone still manually tracking documents or debt and sending follow-ups to their clients, these features are game-changers,” noted Lesh. 

CAS 360 now supports over 700,000 companies and 117,000 trusts across Australia, New Zealand and Singapore, with plans to release CAS 360 in Hong Kong and the United Kingdom in the not-too-distant future. 

Learn More

Will CAS 360 work for your needs?