Published by XU Magazine on 18 September 2023
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BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF), investment management and AI powered paper-to-data solutions, is proud to announce it has been recognised as an ABA100® Winner for Business Innovation in the Australian Business Awards 2023 for its AI-powered paper-to-data solution, BGL SmartDocs 360.

The Australian Business Awards are an annual comprehensive awards program that recognises organisations demonstrating the core values of business innovation, product innovation, technological achievement and employee engagement via established business and product award categories.

“This is a  truly remarkable achievement and a testament to the extraordinary efforts and dedication of our product development teams,” said BGL’s Managing Director Ron Lesh. “I couldn’t be prouder of their hard work developing our unique, innovative paper-to-data solution.”‍

BGL SmartDocs 360 is a multi-award winning, AI-powered paper-to-data solution that helps businesses unlock their full potential by transforming paper documents into smart digital data. The solution provides both Retail and Developer versions (currently in beta), meaning it can be integrated into any software solution or used by any business to convert paper into data.

“Unlike other solutions that require the creation of templates for each document layout, BGL SmartDocs 360 learns from documents submitted through its unique training engine,” added Lesh. “Once BGL SmartDocs 360 has learned the document type (it takes approximately 10 documents of the same type), it will permanently process the document type even if the layout of the document changes. The document can be either a PDF or an image.”

As a flagship product, BGL SmartDocs 360 positions BGL to expand its global reach by delivering a paper-to-data solution to organisations across the globe and industries seeking to streamline operations and improve efficiency.

Published by XU Magazine on 05 September 2023
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BGL Corporate Solutions has announced the release of Annual Tax Statement automation using BGL SmartDocs in Simple Fund 360 and Simple Invest 360.

BGL SmartDocs is a multi-award-winning, AI-powered paper-to-data solution fully integrated with BGL’s SMSF administration and investment management software, Simple Fund 360 and Simple Invest 360.

“This release is a huge achievement by our Big Data, Simple Fund 360 and Simple Invest 360 Product Teams and I’m extremely proud of everyone involved,” said Ron Lesh, BGL’s Managing Director. “This amazing new feature will free up valuable time for our Simple Fund 360 and Simple Invest 360 clients by eliminating the need for manual data input or the hassle of deciphering tax statements from Managed Funds, ETFs and Trusts.”

“BGL clients can simply upload or email Annual Tax Statements (image or PDF files) directly to their Simple Fund 360 or Simple Invest 360 software,” continued Lesh. “The built-in BGL SmartDocs feature will read the statement, extract the data and calculate the distribution tax components pre-filling the relevant fields in Simple Fund 360 or Simple Invest 360. The BGL SmartDocs feature displays the statement alongside the calculations providing a simple reconciliation process.”

Jeevan Tokhi, Head of Simple Fund 360 at BGL, said, “BGL continues to innovate and remove manual data entry for clients. In 2019, we released a tool that automated tax data processing by calculating the amount of each tax component and applying this to distributions received during the year. We extended in 2021 by automatically creating year-end accrual transactions and warnings in our built-in workpapers. Now, we have the incredible feature of extracting the tax components from the Annual Tax Statement PDF. This release is yet another step forward in the evolution of our zero-touch technology.”

BGL SmartDocs is currently reading two million pages per month and loading the extracted data into Simple Fund 360 and Simple Invest 360.

Published by XU Magazine on 03 April 2023
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BGL Corporate Solutions (BGL), Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, has announced its Simple Fund 360 and Simple Invest 360 solutions are now integrated with Australian cryptocurrency tax software, Syla, to automate cryptocurrency transaction data for SMSF, company, individual and trust portfolios. “We are excited to add Syla to the BGL Ecosystem,” said Ron Lesh, BGL’s Managing Director.

“The integration allows BGL clients to easily sync their clients’ crypto transaction data from any digital currency exchange connected to their Syla account directly into their Simple Fund 360 and Simple Invest 360 software.”

“With 1 in 4 Australians investing in crypto, it’s becoming more challenging for accountants to get the compliance work done, particularly when investors could be using any crypto exchange,” added Lesh. “A single portfolio could have hundreds or even thousands of crypto trades. Integrating Syla will automate the journal entry process for every crypto purchase and sale, saving BGL’s Simple Fund 360 and Simple Invest 360 clients significant time and effort.”

Nick Christie, Co-Founder of Syla, said, “A portfolio with crypto investments could be a bit of a trauma-inducing experience in the past, particularly when it came to compliance work. The tedious entry of manual journals for every crypto purchase and sale surely sent many accountants close to madness. With the launch of this integration between Syla and BGL, we’ve really flipped the experience entirely around. Manual journals are out, and instant sync is in.

BGL clients can now sync all crypto trades, income and other transaction data from any crypto exchange into their Simple Fund 360 and Simple Invest 360 software, ensuring the compliance work can be easily sorted.”

BGL’s free and open API is highly regarded and used extensively across the industry, with 350+ data feed and integration partners in the BGL Ecosystem delivering a holistic experience to BGL clients.

For more information, please visit here.

Published by XU Magazine on 10 March 2023
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Published by XU Magazine on 07 March 2023
Click here to read on the XU Magazine website

On Tuesday 28 February 2023, the Albanese government announced that earnings on superannuation balances above $3 million will be subject to a 15% tax rate hike to 30% up from the current rate of 15%. This is not a modest change. It is a substantial change to your super.

“The politicians are quick to label companies that make an error in their payroll wage theft – well, I’m calling them out now for Super Theft,” said BGL’s Managing Director Ron Lesh. “Apart from breaking an election promise, this new tax would appear to have been their intention before the election. It is unfair to hard-working Australians who have legally saved for their retirement and have accumulated balances through making contributions and smart investing. And just another example of the Albanese government’s total disregard for the financial well-being of Australians.”

“Today, this new tax will affect between 80,000 and 120,000 hard-working Australians. With no indexation applied to the $3 million cap, the Financial Services Council estimates this number will rise to 500,000 over time,” noted Lesh.

“Limiting politicians, public servants and judge’s defined benefit pensions to what can be earned with the current $1.7 million balance transfer cap would be a much better way for the Government to raise revenue”, added Lesh.

“Since the Albanese Government came into power, we’ve already seen huge increases in interest rates, electricity, gas, food and services. With this new tax, I’m deeply concerned Labor will soon come after Australians with changes to negative gearing, franking credits, capital gains tax, wealth or inheritance taxes, or even taxing the value of the family home,” says Lesh.

“So, I urge Australians to stand up and be counted, to share this message with family, friends and workmates and be vigilant in protecting their financial future,” concluded Lesh.

Published by XU Magazine on 30 January 2023
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BGL Corporate Solutions, Australia’s leading provider of company compliance, self-managed superannuation fund (SMSF) and investment portfolio management software, has announced its BGL Masterclass will return as a live and in-person event in March 2023.

“We are excited to hit the road and catch up with our clients in Adelaide, Brisbane, Hobart, Perth and Sydney,” said Ron Lesh, BGL’s Managing Director. “The BGL Masterclass is a must-attend event for BGL CAS 360, Simple Fund 360 and Simple Invest 360 clients wanting to learn how to unlock the full potential of their software and boost their productivity”.

Presented by BGL product experts Warren Renden, Head of CAS 360, Jeevan Tohki, Head of Simple Fund 360 and Andrew Paszko, Simple Invest 360 Product Manager, the BGL Masterclass will cover topics including new and key features and their benefits, best practice workflow and processes, essential BGL Suite integrations and time-saving tips, tricks, and shortcuts. Plus, attendees will get a sneak peek at BGL’s product roadmaps.

“BGL launched its Masterclasses in 2020 as a live and in-person event,” continued Lesh. “However, like everyone else, we were forced to move online during the pandemic. So, we are thrilled to finally run the BGL Masterclasses as intended, as an in-person, interactive and immersive team learning experience for our clients”.

“Educating our clients to ensure they have the skills and knowledge to get the most out of their BGL software is a top priority,” added Lesh. “That’s why we provide our clients with extensive learning and help resources, including live and on-demand online product training options, live webinars, education weeks and more.”

The BGL Masterclass will take place in Hobart (02/03), Adelaide (07/03), Perth (08/03), Sydney (21/03), Brisbane (22/03) and Melbourne (28/03).

For more information and to secure tickets, please visit www.bglcorp.com/bglmasterclass.

Published by XU Magazine on 13 December 2022
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BGL Corporate Solutions, Australia’s leading provider of SMSF, investment portfolio and company compliance management software, is proud to announce the release of the electronic lodgment of the Company Tax Return in its investment portfolio software solution, Simple Invest 360.

“This is a fantastic achievement and another industry first for the Simple Invest 360 product team, and I am incredibly proud of them,” said Ron Lesh, BGL’s Managing Director.

“With the ATO’s approval, BGL clients can now prepare and electronically lodge the 2022 Company Tax Return in Simple Invest 360, streamlining their compliance workflow.”

This latest release supports the 2022 Company Annual Tax Return and associated schedules. These are populated automatically by Simple Invest 360’s CGT engine. The release also includes automatically generated reports such as a Declaration of Dividends, a Dividends Paid Minute, a Directors’ Report and a Dividend Statement.

Previously, clients would have had to manually create all the supporting documentation in MS Word or Excel. Andrew Paszko, Simple Invest 360 Product Manager at BGL, said: “Simple Invest 360 is in a class of its own, offering investment reporting, CGT tracking, shareholder register, dividend payment, full set of financials, accounting workpapers and now electronic lodgment of the Company Tax Return all in one user-friendly software.”

Simple Invest 360 is an end-to-end investment portfolio management solution for companies, individuals and trusts. It keeps track of investments, distributes profit, provides a complete set of financial reports and prepares trust and company tax returns with electronic lodgment to the ATO. Simple Invest 360 integrates with BGL’s CAS 360 and Simple Fund 360 solutions. It also provides integrated accounting workpapers, digital signing, 350+ data feeds, registry integration and BGL SmartDocs – BGL’s industry-leading paper-to-data solution.

Want to see Simple Invest 360 in action? Click here to watch a demo.

Published by XU Magazine on 08 November 2022
Click here to read on the XU Magazine website

BGL Corporate Solutions, Australia’s leading provider of SMSF, investment portfolio and company compliance management software, is proud to announce it has been recognised on the 2022 Australia’s Best Workplaces™ for Women List.

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“This is a fantastic achievement for BGL and recognises the teams’ passion and commitment to fostering an inclusive and equitable workplace culture” said Ron Lesh, BGL’s Managing Director. “BGL is one of only 30 organisations to receive this recognition following a survey of more than 20,000 female employees from Australia’s Great Place to Work ® Certified™
organisations.”

Presented by Great Place to Work®, the inaugural Best Workplaces for Women™ List highlights organisations across the country committed to fostering equity in the workplace and ensuring all employees feel safe, heard, challenged and valued.

“Our People and Culture team work hard to provide BGL’s 200+ employees with a safe, inclusive, and friendly work environment, and I’m extremely proud of them” continued Lesh. “We can only achieve BGL’s goals with inspired and passionate people that feel empowered to produce outstanding results for our clients.”

Nadine Freitag, People & Culture Manager at BGL, said: “This recognition means a lot to BGL. As a company operating in the technology sector, historically male-dominated, we are thrilled to know our female workforce feels equal and valued at BGL. Everyone here has worked hard to achieve this recognition, and we are excited for what’s next. So watch this space!”

In recent years, BGL has become an accredited Mental Health First Aid Skilled Workplace, Great Place to Work ® Certified™, and was recognised as the 6th best technology workplace in Australia and New Zealand in the 2021 AFR BOSS Best Places to Work List. With the help of Joel Clapham, Founder and Chief Mental Health Champ at Hearten Up, BGL has also supported 36 staff to become accredited Mental Health First Aiders.