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BGL Update

Simple Fund 360 and Simple Invest 360 Product Update – 30 May 2024

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

We’re excited to share the latest Simple Fund 360 and Simple Invest 360 updates, which include the 2024 SMSF tax time update!

What's New?

2024 SMSF Tax Time Updates

2024 SMSF Annual Return User Interface and PDFs: The  ATO did not change the 2024 SMSF Annual Return. This release supports the new return, including for funds that have been wound up. The new Trust Income Schedule is included in this release.

New ATO Trust Income Schedule: From the 2024 income year, SMSFs receiving 1 or more distributions from trusts (including ETFs, managed funds, and stapled securities) must complete and attach a Trust Income Schedule to the SMSF Annual Return. Learn More

2024 Financial Year Wind-Ups: Wind-ups for the 2024 financial year will now print the 2024 PDF. Learn More

Lodgement Screen Update: The lodgement screen chart has been updated for 2024. Learn More

Digital Signing: Digital signing is now enabled for the 2024 SMSF Annual Return and schedules. Learn More

Fund Transfers: Support has been added for 2024 tax changes related to fund transfers. Learn More

2024 Trust Income Schedule: To accommodate the Trust Income Schedule requirements effective from the 2024 financial year, new tax component fields have been added in the following areas:

The above 2024 SMSF tax time updates are exclusively available in Simple Fund 360.

Mortgage Advice Bureau Integration
Mortgage Advice Bureau (MAB) has been added as an External Service Provider for SMSF lending solutions. Learn More

Opteon Integration
Opteon has been added as an External Service Provider for property valuations, tax depreciation schedules, insurance assessments, rental assessments and quantity surveying. Learn More

Investment Security List
The ability to add an ABN or ACN for a security has been added. This information will be used in the Trust Income Schedule. Learn More

Family Trust Election
A Family Trust Election form can now be prepared and lodged for trusts. Learn More
This feature is exclusively available in Simple Invest 360.

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs 360
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

May 30, 2024
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Enhancing your customer experience with BGL

By BGL UpdateNo Comments

At BGL, we are committed to consistently improving and enhancing our customer service to ensure you always have the best possible experience with us.

We pride ourselves on making our clients our top priority and we are excited to announce we have been working on some significant improvements that will make your interactions with BGL faster, easier and seamless.

Here are some of the key enhancements we have implemented so far:

Streamlining Communication: We’re excited to announce the introduction of our new phone system, Dialpad! Dialpad will ensure you reach the right team or team member faster than ever. Dialpad connects you directly to a support consultant, client success consultant or Account Manager without the need for explanations to our Admin Team.

Providing Feedback: To complement our existing ‘Provide Feedback’ function in our cloud software solutions, we’ve added AskNicely to help us create an instant net promoter score. With just a click, you can share your thoughts on our products and services, helping us celebrate the things we are doing well and telling us where we are not so we can work hard to resolve your concerns and issues faster.

Enhancing Your MyBGL Experience: We are working on several improvements to make MyBGL, your online portal for managing your BGL account, better. The first changes will make it simpler for you to register for BGL training and events.

BGL is confident that these enchantments, with many more to come, will make your experience with us more enjoyable and rewarding. As always, we remain committed to providing you with remarkable experiences.

Thank you for your continued support and feedback. We look forward to advising you of more changes to enhance your customer experience with BGL in the coming months.

Adriana Cavallo 
General Manager – Customer Experience (APAC)
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

May 28, 2024
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BGL National Winner of the 2024 Australian Achiever Awards

By BGL Update, CultureNo Comments

BGL is the National Winner of the 2024 Australian Achiever Awards for remarkable services in Information and Communications Technology Services

“This is an incredible achievement and acknowledgement of the BGL team,” said BGL’s Chief Executive Officer, Daniel Tramontana. “This marks BGL’s 20th Australian Achiever Award and I am incredibly proud of our team. It is a testament to our unwavering commitment to delivering exceptional experiences and customer service to our clients”.

Australian Achiever Awards are an independent award system based on customer assessments. The award system focuses on eight criteria: Time-related Service, Addressing Client Needs, Care and Attention, Value, Attitude, Communication, Overall Perception and Referral. 

The award includes special recognition for Andrew Paszko, Simple Invest 360 Product Manager, Andrew Perera, Business Analyst and Daniel Tramontana, CEO for their excellent customer service.

“I am grateful to have been listed as one of the special recognitions, but this is truly a team effort”, added Tramontana. “Our achievement of winning the national title for 2024, along with our exceptional customer satisfaction score of 99.60%, underscores the dedication and hard work of the entire BGL team. This recognition is a testament to our commitment to delivering outstanding service and reflects the ongoing support of our valued clients and partners”.

Accompanied by glowing client testimonials, the award highlights BGL’s exceptional customer service.

“I am a long-term customer of BGL Corporate Solutions and I have taken up more of their services in the last two years,” a customer of BGL said. “They go above and beyond the normal levels of service I expect from an information technology business…The team have excellent communication skills and are enjoyable to deal with.”

Another customer said, “They are knowledgeable and a pleasure to deal with. Everyone is always helpful, polite and friendly. They are active and forward-looking and continually develop their software. The Regtech and Masterclass functions are excellent”.

May 16, 2024
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CAS 360 Product Update – 2 May 2024

By BGL Update, CAS 360No Comments

What's New?

BGL SmartDocs
BGL’s AI-powered document reader, BGL SmartDocs, is now available in CAS 360! Now, each Firm in CAS 360 will have a unique email address (found in the Email Settings screen) to receive documents. Once received, documents are automatically attached to the relevant document packs. Learn More

Practice Management Integration
CAS 360 and APS Contacts+ integration is now live. This two-way integration provides efficient client and contact data management across CAS 360 and APS Practice Management in a single database. Learn More

Company Report
The Company Report now includes Dividends with a “Show Dividends” toggle option to display this data. Learn More

Comparison Report
A new “Please Review” status within the Comparison Report has been introduced. This status will prompt your attention whenever future-dated transactions are detected to ensure a thorough review and validation. Learn More

Your Feedback
We have introduced a new AskNicely survey for your feedback. This feature, among other feedback mechanisms, is closely monitored to facilitate the continuous improvement of CAS 360.

Plus, many more new features and improvements.

Stay tuned for future releases!

Warren Renden
General Manager – CAS 360, Ecosystem and UK
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

May 6, 2024
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Simple Fund 360 and Simple Invest 360 Product Update – 2 May 2024

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

What's New?

Member – Contributions
The Contribution Dashboards and Reports have been updated to reflect the increase in the concessional and non-concessional contribution caps effective from 1 July 2024. Learn More

Member – Pensions
The minimum pension payment factors have been adjusted for the 2024-25 financial year in Dashboards and Reports. Learn More

Fund Pension Policies – Reports
The Actuary Certificate received on the Fund Pension Policies screen can now be selected on the Reports screen for inclusion in report packs. Learn More

Firm Management – User Roles
A new authority has been added under the ‘Investment’ section, allowing non-admin users to delete balance records in the Balance Review screen. Learn More

Practice Management Integration – APS Contacts+
The BGL Suite and APS Contacts+ integration is now live. This two-way integration allows for efficient client and contact data management across four apps (CAS 360, Simple Fund 360, Simple Invest 360 and APS Practice Management) in a single database. Learn More

Smart Matching – Account View
The Account View for each sub-level account will now be collapsed by default, with the addition of one-click refresh and expand/collapse all buttons. Plus, debits and credits are now separated into distinct columns for a clearer view. Learn More

Corporate Actions
Two mergers have been added to Corporate Actions:

  • DVR – 6 March 2024
  • WSP – 6 March 2024

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs 360
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

May 6, 2024
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CAS 360 Subscription Fee Increase – 1 July 2024

By BGL Update, CAS 360No Comments

BGL will increase the base subscription fee for CAS 360 on 1 July 2024. 

It has been 2 years since BGL last increased CAS 360 software subscription fees. Since then, the CAS 360 Team has delivered hundreds of new features, enhancements and integrations including:

The time has therefore come to increase the CAS 360 software subscription fees.

From 1 July 2024, the subscription fee for CAS 360 will increase from $15 per company per annum plus GST to $17 per company per annum plus GST. 

Clients can “lock in current subscription pricing” by paying their CAS 360 software subscription fees in advance at the 2023 subscription rate before 1 July 2024. BGL will provide you with this opportunity in mid May 2024.

If you have questions regarding your BGL software subscription, please reply to this email or call your account manager at 1300 654 401.

April 23, 2024
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BGL Integrates with HeirWealth for Streamlined Wealth Transfer

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

BGL is proud to announce its integration with Sydney-based wealthtech HeirWealth, to automate valuation processing for efficient intergenerational wealth transfers.

“We are excited to add HeirWealth to the BGL Ecosystem,” said BGL’s Chief Executive Officer, Daniel Tramontana. “This integration will help clients effortlessly provide accurate valuations for assets and liabilities held within their SMSFs, companies and trusts managed in BGL’s Simple Fund 360 and Simple Invest 360 software to HeirWealth’s platform.” 

HeirWealth aims to help Australian SMSFs have better intergenerational conversations about money. The HeirWealth platform provides family investors and their professional advisers with a view of assets and liabilities across 40 different classes, including traditional investments such as shares and property and non-traditional assets such as collectibles.

Ray Tubman, Founder and CEO of HeirWealth, said, “The forthcoming intergenerational wealth transfer is going to present a lot of challenges. Whether you want to start having those conversations now or wait till later, centralising information in one secure location like HeirWealth is a great idea.” 

“The HeirWealth platform provides simple yet powerful wealth tracking that allows individuals, families and professional advisers to organise everything together in one place,” continued Tubman. “That includes traditional investments like term deposits, shares and property, as well as alternative investments like private equity and ‘assets of passion’ like fine wine, antiques and collectibles. You can even upload photos from your phone and leave annotations to capture your family’s story and legacy, so everything is recorded in one central vault and preserved for future generations.”

Jeevan Tokhi, General Manager of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs at BGL, said, “This integration is facilitated by BGL’s free and open API which provides asset balance data from Simple Fund 360 and Simple Invest 360 into HeirWealth, refreshing the data nightly. This allows firms to streamline their client’s financial world by consolidating all their financial and lifestyle assets, along with essential documents, into one easy-to-use application.” 

BGL’s 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.

About HeirWealth

HeirWealth is a wealthtech company that aims to harmonise intergenerational wealth transfers by providing investors, family offices and trusted advisers with a holistic view of family wealth, enabling them to get better organised and minimise administrative inefficiencies.

With a commitment to innovation and supporting intergenerational wealth transfers, HeirWealth stands as a catalyst for positive change in the industry, ensuring that the valuable nature of time is revered in all aspects of our clients’ financial journeys.

HeirWealth is an Australian and UK regulator approved platform that currently integrates with 20,000 financial institutions globally, benefiting from open banking participation, growing direct integrations and world class security credentials including ISO 27001 certification. For more information, please visit heirwealth.com or email [email protected]. 

April 18, 2024
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Simple Fund 360 and Simple Invest 360 Product Update – 4 April 2024

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

What's New?

Smart Reports – Trial Balance and General Ledger
The Smart Reports generative AI technology can now analyse Trial Balance and General Ledger data, providing detailed insights, predictive analysis, and issue detection. Users can apply filters in the new Trial Balance live view, and export reports to PDF, Excel, or Word. Learn More

BGL SmartDocs – Fast Data Entry
Our fast data entry feature now supports CBA statements spanning 2 financial years and has improved accuracy in processing AMEX credit card statements. Learn More

BGL SmartDocs – Rental Statements
The AI model has been upgraded to categorise reimbursements of property expenses as rental income rather than expenses. Learn More

Data Feeds – SuperStream Notifications
The new Firm Notification feature enables users to designate contact(s) to receive email notifications for Rollover/Release Authorities across all funds. This feature is exclusively available in Simple Fund 360. Learn More

Corporate Actions
The following ASX Corporate Actions have been updated:

  • DRP Price per share data added for Woodside Energy Group Limited (WDS).
  • Demerger data updated for New World Resources Limited (NWC).

Feed Management – Contract Notes Service
A new setting has been added to the Contract Notes Service data feed to provide email notifications of unsuccessful Contract Notes. Learn More

Reports – Common Report Settings
Common Report Settings have been enhanced to allow users to turn off specific options. Previously, all fields within the setting were automatically turned On and could not be disabled. Learn More

Plus, many more new features and improvements.

Stay tuned for future releases!

Jeevan Tokhi
Head of Product – Simple Fund 360, Simple Invest 360 and BGL SmartDocs 360
E: [email protected] | P: 1300 654 401
Connect with me on LinkedIn

April 5, 2024
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