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Simple Fund 360 and Simple Invest 360 Update Release July 2021

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

We are excited to announce a huge update to Simple Fund 360 and Simple Invest 360 including integration with our new digital signing partner, FuseSign! This means we now support 3 digital signing solutions in our product suite.

You can learn what’s new in Simple Fund 360 and Simple Invest 360 from our product teams at our New Features Webinar on Tuesday 10 August at 10:30 AEST.
Register Now >>>

Check out the full release notes in the BGL Community >>>

What's New?

Simple Fund 360 and Simple Invest 360 digital signing with FuseSign now available!

We are thrilled to announce FuseSign has joined the BGL ecosystem as our latest integration partner! Made for accountants by accountants, FuseSign is an affordable, intuitive and easy to use Digital Signature solution. Learn More >>>

Special BGL & FuseSign offer!

Sign up for a FuseSign Business Lite plan (or above) and pay only 1 credit per document pack for all your BGL documents (unlimited signees, unlimited number of users from as little as $0.90 per signee and no lock-in contract). To find out more, visit www.fusesign.com/bgl/ and start your 14-day FREE trial.

Stay tuned! CAS 360 integration with FuseSign will be released in the coming weeks.

Exclusive to Simple Fund 360

Fund Dashboard: Significant improvements have been made to the SMSF Dashboard allowing users to quickly add notes, review client queries, view a snapshot of fund investments and view members balances.

New Report Screen: As the most frequently visited screen in Simple Fund 360, BGL has listened to your feedback and delivered a new and improved report screen! The new screen includes enhanced filters, improved search and visibility plus the ability to tag reports and use tag filters!

SMSF Auditors Panel: BGL launched the SMSF Auditors Panel on 14 July 2021. The BGL SMSF Auditors Panel is a list of BGL client firms and specialist SMSF auditors who either use the BGL API to access Simple Fund 360 data or who log into Simple Fund 360 to complete audits. The BGL Auditors Panel can be found on the BGL website or via the Fund Dashboard and Help menu in Simple Fund 360.

Compliance Change: The Simple Fund 360 Contributions Dashboard and Contributions Breakdown Report now account for the legislative change extending the Non Concessional Contribution Bring Forward age to 65, 66 for Non-Concessional Contributions made from 1st July 2020 (effective 1st July 2021).

Exclusive to Simple Invest 360

New Dashboards: New Dashboards for trust, companies and individuals allow users to quickly add notes, review client queries, view a snapshot of fund investments and review key relationships.

To learn all about Simple Invest 360 and how it can benefit you, we invite you to attend our free, live webinar series! 

Can’t make it to the live webinars? Register anyway to get the recordings.

Why did BGL develop
Simple Invest 360?

Presented by BGL’s Founder and Managing Director Ron Lesh and the Head of Simple Fund 360, Matt Crofts.

Monday 26th July at 10:30 AEST

Register Now

Simple Invest 360 accounting
and tax features

Presented by Simple Invest 360 Product Manager Andrew Paszko alongside Simple Invest 360 Business Analyst, Andrew Perera.

Wednesday 11th August at 11.30 AEST

Register Now

Simple Invest 360 for
accountants and planners

Presented by Simple Invest 360 Product Manager Andrew Paszko and the Head of Simple Fund 360, Matt Crofts.

Wednesday 25th August at 10.30 AEST

Register Now

Simple Invest 360, our investment portfolio platform, is now available!

By News, Product Updates, Simple Invest 360No Comments

Today we announce the launch of Simple Invest 360, our intelligent cloud-based software to help accountants streamline CGT compliance administration for Trusts, Companies and Individuals.

This exciting NEW product wraps several disparate investments and CGT based tools under one unified solution. We are automating the tedious process of CGT record-keeping and Financial Reporting. In layman’s terms, Simple Invest 360 saves an accountant time no matter what the tax structure: Trust, Company, or Sole Proprietor. Simple Invest 360 uses the same proven and award-winning smart engine that powers Simple Fund 360, the No. 1 SMSF solution.

Simple Invest 360 achieves time savings by leveraging automated corporate actions, smart machine learning categorisation and integrated accounting work papers.

Many clients go to their accountants for tax advice only to find out that they may have already made a mistake with major investment decisions. Primarily, this happens because people did not keep or could not explain to the accountant their multiple asset classes and tax structures. Simple Invest 360 solves this problem, with the Client, Accountant, and Planner, now working entirely in the cloud on daily automated wealth positions.

Simple Invest 360 transpires into spending less time on the preparation and thereby reducing costs. Accountants can spend more time on other matters & increase fees, as when your clients are making better investment decisions, they will value the advice. With more value delivered, clients are less likely to switch accountants. Reduced preparation and switching costs enable more time to acquire new customers for those looking to expand their services.

Early on we knew that we had to move fast while really listening to what the client’s end goal was. Having open and honest communication not only between ourselves but also with our beta clients meant that we were able to understand at a deeper level how to solve the issue of not only providing the client with a robust CGT engine for tracking their investments, but also a seamless year end workflow which makes allocating accounting profit and tax to beneficiaries a breeze.

Andrew Paszko - Simple Invest 360 Product Manager

But don’t take my word, here’s what our beta clients are telling us about why they love using Simple Invest 360:

Makes it easy to track shares and dividends, especially when clients may not supply all of the documentation you can reconstruct history. Quickly do CGT calcs and reports.

Amber Williams, Trident Business Group

Easy to use cloud base software with smart transactions matching, great for keeping CGT records. "Live" portfolio reports and review function to keep you up to date with your current investments, projected CGT and tax planning.

Olga Petrovskaya, Sinclair Wilson

The Simple Invest 360 team led by Andrew Paszko started with just a single developer: Yang Huang, and a software tester: Mario Blagejovic. From the get-go, the small group were laser-focused on only combining value-added features while staying close to the customer.

Once the plans were drawn up and a challenging roadmap set by myself and Ron Lesh, the Simple Invest 360 team combined forces with the larger Simple Fund 360 team to working collectively through 2020 & 2021 on the new project. Critically, the Simple Fund 360 teams provided valuable advice and experience to the younger team. The additional resources were needed to decouple some of the SMSF related functions and deal with the complexity of multiple tax structures to support Trusts, Companies, and Sole Proprietors.

The newer Simple Invest 360 team had the added challenges of Melbourne 2020 and 2021 lockdowns and needed to form good bonds as a second Software Developer, Nathan Mitchell, and new Business Analyst, Andrew Perera, completed the team. While the Simple Fund 360 team still had to deliver major compliance changes including TBAR, Superstream and COVID early release. Despite the added challenges, both teams hit every milestone. In many cases, earlier than planned.

With the early Beta Launch of Simple Invest 360 last October, valuable feedback from our beta clients was delivered into today’s successful product launch two weeks ahead of schedule.

Now the good news. All current Simple Fund 360 clients from today have free access to 5 entities until the 31st of August 2021. No catches, no drawn-out signup process. Simply login using your existing Simple Fund 360 credentials and add a New Entity. Choose from a Trust, Company or Individual and get started today. For all other BGL clients or new to BGL clients, contact your account manager on 1300 654 401 or navigate our website and enjoy the same free trial.

Learn more about Simple Invest 360 >>>

CAS 360 New Features Webinar recap with BGL Product Advocate, Alissa Haralambopoulos!

By BGL Update, CAS 360, Product Updates, TechnologyNo Comments

All in all, a feature packed webinar from our CAS 360 team, with plenty of auto completing and time saving features.

CAS 360 New Features Webinar recap with BGL Product Advocate, Alissa Haralambopoulos!

Wow, what a release… times 2 (and a bit)!

In the latest CAS 360 New Features Webinar, Warren Renden, our product head for CAS 360, ran us through the new features released across November & February’s updates, including a sneaky second February release which covers some pretty important ASIC changes.

First up, let’s quickly duck back to November 2020 (no lockdown required, promise!). In this month’s release, look out for the ability to customise the company selection screen, and add a filter which shows the company status – trading, SMSF Trustee etc), also the introduction of Google address integration makes entering in addresses faster, thank you auto complete! There has also been some work done to the contact functions, with the addition of the foreign jurisdictions as CAS 360 further expands across international waters! Multiple email addresses for a client, or multiple contact numbers? No worries, these can now be added in too! You can also now store important identity information like drivers’ licence or passport details, handy to have on file, if you need to set up any new companies.

Working with Trusts? Or want an easier way to manage them?

CAS 360, now has a template you can download, enter in all your trust details, and we can import these trusts in for you. Which leads me into the second update released in February.

The updates in this February release covered the addition of the following trust functions; a new report that can show the Register of Trust Relationships, also a report for Trust Events. You can now prepare more documents for Unit Trusts transactions, such as the allotment journal.

Also, part of the February release, the introduction of a Casual Name in the contacts screen.

You can use this to generate those letters or emails and not have to worry about changing Robert to Bob, Jessica to Jess, also great with this new feature, the clients proper name will still be used in the documents, just not in the greeting of the email or letter.

As part of the additional release in February, CAS 360 has you covered for the recent ASIC changes on Illegal Phoenix activity. A very clear validation error will now come up when lodging a Form 370 or 484 to advise of any changes regarding the cessation of a director. If this form is lodged more than 28 days after the event, the effective date will now be overwritten by the lodgement date.

This webinar took a slight detour when the topic of auto reminders was raised, with lots of attendees wanting to see this feature in action. If you haven’t had a chance to look into this yet, make sure you check it out. The ability to set up and have reminders sent to those clients that can often be a bit forgetful, especially with the option of sending email or SMS reminders, can be a massive time saver. Best of all they automatically stop, once the documents have been signed, and even better still, the SMS function is included in your CAS 360 subscription, at no extra cost!

Another notable mention is the ability to auto import company details from ASIC when you take on a new client. A great way to ensure the company details you’re bringing in, are accurate.

All in all, a feature packed webinar from our CAS 360 team, with plenty of auto completing and time saving features. Well done to the CAS 360 team on another great release!

Simple Fund 360 New Features Webinar recap with BGL Product Advocate, Alissa Haralambopoulos!

By Homepage, In the Media, Product Updates, Simple Fund 360, TechnologyNo Comments

‘It’s not magic!’ but one could certainly be forgiven for thinking there has to be a bit of it happening behind the scenes!

Simple Fund 360 New Features Webinar recap with BGL Product Advocate, Alissa Haralambopoulos!

In the latest Simple Fund 360 New Features Webinar, Matt Crofts, our wonderful head of Simple Fund 360, ran us through what’s new, what’s been added, and what’s to come, and let me tell you, implementing even one of these new features is sure to add back time to your day!

From the introduction of having more control over digital signing with the addition of priority groups, yes, now you can elect that trustees/members sign first, ensuring tax agents or auditors don’t receive any notifications until it’s their turn, to the addition of the ability to add Direct comparatives for those often-occurring interim accounts. This release sure covers a lot.

The emphasis on using the account view, basically makes the need to run general ledger reports to gain a running balance, redundant. The detail in which this account view is now able to drill down is worth checking out, my personal favourite is the bank accounts, or the PAYG Instalments, which now shows which year each instalment relates too.

Another great addition is the ability to create % splits within the transaction rule screen, think of those monthly life insurance premiums, that historically had to be split manually, you can now simply set up a percentage rule of say 40% to be allocated to one member, and 60% to the other, and going forward this will now pick up this split. Also, great to be used in the instance where you have fortnightly or monthly rent payments that are split between Rent Income, Agent Fees, Property expenses, simply click ‘Review before Applying’, and any adjustments that need to be made can be done to the transaction, without needing to add the accounts in every time.

There’s also been an update to the corporate actions available for the 2021 financial year, for those of you processing on a regular basis. Also, in the investment space, the addition of a security description for those ASX listed securities that start to get a bit messy, think preference shares, convertible notes etc.

The new Feed Management License report also provides users with a great way to export and view their subscription usage in excel, both overall as a firm, and then drilling down into each fund.

Last but not least on the Simple Fund 360 front (note this feature is also available in Simple Invest 360), and this is truly where I think the magic is, is the update to the CGT/Smart Docs report function. Think of those funds you receive from another firm, after the initial excitement of winning a new client wears off, the realisation of having to recreate opening balances kicks in, and when this involves a vast investment portfolio, and receiving a huge unrealised capital gains report with multiple parcel purchases, a slight sense of dread is understandable.

“Not anymore! Simply upload the Unrealised CGT report into the CGT – Smart Docs screen, and the ‘magic’ of smart docs will read the report and input into the information into the software… historical data.. DONE!”

Not to be forgotten is also the extensive amount of work the team have put in, in developing our newest kid on the block, Simple Invest 360, the magic of Simple Fund 360, is now available for Trust, Company and Individuals.

The most noteworthy update in this latest release is the Tax Reconciliation screen, and distribution allocation functionality. Making working out your Taxable and Accounting Profit, and where it’s all going a breeze. If ever you found yourself as an SMSF processor, wishing for the ability to achieve the kind of efficiency you were getting with super funds with your trusts and companies, Simple Invest 360, is the answer. If you’re interested, jump onto our website, search for Simple Invest 360 and register for our Beta phase.

Looking forward to the next release and will definitely be keeping an eye on what’s to come, particularly in the historical and external contributions space, as well as the greatly anticipated workflow management screen.

All in all, a wonderful release of some great functions, features and well quite frankly magic! A big well done to the Matt Crofts, Andrew Paszko and both the Simple Fund 360 & Simple Invest 360 teams.

In case you missed it, you can watch the Simple Fund 360 New Features webinar recording below!

CAS 360 Software Update Release February 2021

By BGL Update, CAS 360, Homepage, Product UpdatesNo Comments

Hello everyone and welcome to 2021!

For the first release of 2021, the CAS 360 team have worked on some great new features.

Adding a new Company

When adding a new company to CAS 360, you can now import the basic company information directly from ASIC.

If you toggle on the ‘Import from ASIC?’ CAS 360 will conduct a real time search of the ASIC register and find the company for you.

Clicking on import, will add the company to your CAS 360 company list, and also import the basic company information (Company Name, Number, Company type and class).

Trust Documents

CAS 360 is the best place to manage all of the trusts that your firm looks after, with industry leading trust features.

In this update, we add more documentation for trusts.

When preparing unitholder transactions, if there is an allotment transaction, CAS 360 will now prepare a unit allotment journal, and for unit transfers CA360 will now prepare a unit transfer journal.

New Trust registers have also been added, with a new Register of Trust Relationships, which will show all of the position holders in the trust. Also, a new Register of Trust Events has been added, which will show all event transactions that have taken place inside the trust.

New Contacts screens

This update sees a huge change in the way contact data is entered into CAS 360. We have added new fields and grouped a number of key data fields.

We have added support for ‘Other Names’ which include ‘Casual Name’ a long time requested feature, soon this casual name will be appearing on documents such as letters.

We have also added a whole heap of new contact fields, including identification numbers, and company number types for company contacts. 

New Health Check for Company Details and Holding Company

For New Zealand Companies we have expanded the health check to now include General Company Details and Holding company information.

CAS 360 will now check this information every day with the NZ Companies Office and alert you if there have been any changes.

Live Checks (checking when inside the company) has also been added for Company Details and Holding Companies.

If you would like to view the full release notes for February 2021 please click here to visit the BGL Community.

See you next update!

Warren

Simple Fund 360 Software Update Release October 2020

By BGL Update, Homepage, Product Updates, Simple Fund 360, Simple Invest 360No Comments

The Simple Fund 360 and Simple Invest 360 teams have delivered their first release for October 2020 with some exciting new features and client wish list items ticked off! Check out the full release notes on the BGL Community >>>

Learn what’s new direct from our product team by attending our New Features Webinar on 13 October at 11:30 AEDT. Register Now >>>

Digital End to End

The team continues its focus on removing paper and improving the digital experience for clients. This October, we have added a new Upload Authority Form feature to make the bank feed authority setup process faster and more secure for clients. We have also made it simpler for clients to upload any CSV files they may have received from clients and keep track of these in our Feed Management screen.

We have simplified the 2020 tax reporting season by providing you with digital distribution tax statement data for over 530 commonly held investments. This update supports:

  • All Vanguard ETFs and popular Vanguard managed investments
  • All BetaShare ETFs
  • All ETFSecurity ETFs

Continuing the digital theme, we have added a Compilation Report and Engagement Letter to the growing list of documents that can now be digitally signed using both Adobe Sign and DocuSign.

For Financial Planning focused firms, we are excited to announce a new Time Weighted Performance page that has been modified from our mobile interface to take advantage of the larger screen real estate. This MOBILE first approach allows both you and your clients to VIEW the same performance data, without the need to switch to a separate Client View application. This is available for both our Simple Fund 360 and Simple Invest 360 Beta Clients.

Client Wish lists

We have managed to tick off several clients wish lists. Users can now view a contact’s mobile and email address directly from the Fund Relationships screen. Plus, the CGT Register Detailed Report when exported to excel now includes the description of CGT transaction.

Order Documents

The Smarter SMSF Order Document page has a fresh new look! In addition, 3 new documents can now be completed, including;

  • Add or Remove a Fund Member
  • Lost Trust Deed
  • Lost Pension Deed (Affirmation and Confirmation)

Simple Invest 360 (Closed Beta)

We have added several new features to Simple Invest 360:

  • Added support for individual investors. Simple Invest 360 now supports all investor types – Individuals, Trusts and Companies.
  • A new Appropriation Statement report now available for Trusts and Companies.
  • A new Tax Reconciliation report now available for Trusts.

Plus, digital signing solutions Adobe Sign and DocuSign are now available for the following documents in Simple Invest 360:

  • Compilation Report Company
  • Compilation Report Trust
  • Trustee Minute – Family Trust
  • Trustee Minute – Unit Trust
  • Trustee Resolution – Family Trust
  • Trustee Resolution – Unit trust
  • Trustee Declaration
  • Directors Declaration

If you are interested in shaping the Early Release of Simple Invest 360, click here to register your interest for closed beta >>>

Don’t forget to register for BGL REGTECH 2020 to see get a sneak peek at Stage 2 of our AI-Powered BGL Smart Docs feature and a look at Simple Invest 360 – the next evolution in automating your Investments for Trusts, Companies and Individuals.

What’s new in your BGL Data Services?

By BGL Update, Homepage, Product Updates, Simple Fund 360No Comments

The BGL Data Services Team have recently released some exciting new features and enhancements in Simple Fund 360 and we would love to share these with you.

New Features and Feeds

What’s in the Pipeline?

The Product Team are currently working on a new signed authority forms upload. This feature will streamline the authority form process and enhance security for you and your clients. Keep an eye out on the BGL Community for further announcements! In the meantime, please continue to email your authority forms to [email protected].

The BGL Client Experience Team are working closely with the BGL Data Services Team to improve your experience with us. If you have any feedback, please email us at [email protected].

ANZ Authority Forms

We have been experiencing delays in processing ANZ authority forms. The BGL Data Services Team are actively working with ANZ to rectify these problems. To help clients in dealing with these processing delays, we are working with ANZ to provide clients with up to TWO YEARS HISTORICAL DATA!

We sincerely apologise for these delays and appreciate your patience with us.

Bankwest Managed Investments

The Bankwest Cash Management Account product was closed on 31 August 2020. BGL is working to update our systems to reflect this change. For further information, please refer to the BWAMI website.

Please Note: If you have any BWAMI accounts registered with BGL’s Bank Data Service, these accounts will be updated to ‘Account Closed’.

We look forward to sharing more with you soon!

CAS 360 Software Update Release August 2020

By BGL Update, CAS 360, Homepage, Product UpdatesNo Comments

Another month of lock-down has passed in Melbourne, however this does not stop the CAS 360 team from delivering some great features.

In the August release we have a number of new integrations where you can connect to CAS 360.

My BGL

First of all, we have the MyBGL. MyBGL will allow you to see all the information related to your CAS 360 subscription. From here you are able to view your usage, upgrade or downgrade your subscription level as well as view all of your billing and payment information.

To see MyBGL in action – watch our video 👉

GreatSoft

A new addition to the CAS 360 integrated Practice Management suite of applications. You can now share contact information between CAS 360 and GreatSoft to ensure that your data is always update and accurate.

To see the GreatSoft integration in action – watch our video 👉

ChangeGPS

Blueprint by ChangeGPS is now connected to CAS 360. This will allow you to create beautiful structure diagrams based on the Company, Trust, Super Fund and Contact data inside CAS 360. Perfect for that next client meeting where you need to discuss their corporate structure.

To see the ChangeGPS integration in action – watch our video 👉

LightYear Docs

The integration between LightYear Docs and CAS 360 is now live. This will allow you to connect CAS 360 to your LightYear Docs account and push newly registered companies from LightYear Docs to CAS 360.

To see the LightYear Docs integration in action – watch our video 👉

Trust Improvements

This update continues on our previous releases around trust management, we have released 23 improvements to Trust Events, as well as adding a new Trust Report allowing you to prepare a full report for each and every trust. We have also released Trust Distributions for New Zealand trusts.

Interface Improvements

We have updated the icons used in the left hand side panel to give a greater feel, we have also improved every table view in CAS 360 from the Company Selection screen, Annual Review / Return screen and the Shareholders screens. We have also improved all the popovers in CAS 360 for better feel and performance.

Other new features

A range of other new features have also been added, with improvements to the registers, improvements to the share / unit transfer forms and new merge fields for document customisation.

Oh, and one last thing...

We have released our electronic filing of the Singapore company annual return with ACRA from inside CAS 360.

This includes the whole box and dice for Singapore Annual Returns with integration with CorpPass, support for the Singapore jurisdiction across the CAS 360 application, a new Singapore Annual Return screen, with the ability to prepare the Annual Return, sent it to your client, and then file the Annual Return, and make the payment to ACRA all from within CAS 360. It’s Brilliant.