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Simple Fund 360 Professional

1. Applied to f atransaction s date is equal to in range less or greater than the specified date code this Date unmatched transaction to the matching criteria selected in step 4 below Page 74 BGL Corporate Solutions Pty Ltd 2015 O Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Step 4 Allocate entries to the following ratios Select the matching criteria that Simple Fund 360 will use to code the unmatched transaction From the Value field Simple Fund 360 will match from the chart of accounts once you begin searching Select the Value field and type 25000 Select the Term Deposit interest account 4 Allocate entries in the following ratios Associated Account Value Transaction Type Amount Account T np 4 25000 WPTD Westpa Y 100 ADD LINE Step 5 Enter a name for the matching rule You will be able to input a name for the matching rule Leave the default name as Credit Interest Select Save to add the matching rule to Simple Fund 360 Task 4 2 2 Match a Dividend Dividend payments were included in the CSV upload for the CBA Shares Simple Fund 360 will automatically use the security details that will automatically be updated in Simple Fund 360 to match income details against your units on hand Review Matching From the Main Toolbar go to Accounting s p d Mia ACTUATING Select Transaction list from the list Accounting Chart of accounts T w Fe aa dha rap ir Transaction list Transactio
2. Note The Fund Dashboard s the first screen you will access after selecting a fund trom the Fund Selection screen To invite users from the Fund Dashboard select Share With and choose from one of the following Share With Trustee Auditor BGL Support BGL Corporate Solutions Pty Ltd 2015 Page 115 SimpleFund 360 sposo taning manu Profession Eto A summary of the members balances in real time is available from the Fund Dashboard with quick links to the Members List Pension Dashboard and Actuary Setting pages MEMBERS y Jones John Jones John P Age 66 P Age 66 520 480 90 im E Jones Mary A Age 60 Y Ages as at 30 06 2014 MEMBER LIST PENSION DASHBOARD ACTUARY SETTING A snapshot of the fund s position will display showing transactions that have been automatically loaded from the bank data service Transactions can be quickly reviewed and then Matched TRANSACTIONS Unmatched 11 11 2 Unmatched E Matched E Suggested Match UNMATCHED SUGGESTED MATCH TRANSACTION LIST Page 116 BGL Corporate Solutions Pty Ltd 2015 O Si mpleFu nd 560 SF360 Training Manual Professional Edition Finally from the Fund Dashboard you can review your Bank Feed setup and see your live bank balance DATA FEEDS setup Bank Feed View Bank Statement STATEMENT ACCOUNT DESCRIPTION FEED PROVIDER FEED STATUS BALANCE Australia amp New Zealand Banking Group Limited 012 O12
3. More details Contract date Settlement Date Select 77600 BHP AX which was previously added to the global Chart of Accounts Input 2388 Input a debit amount of 73 325 00 Click MORE to input purchase details Input purchase date 02 06 2000 Input settlement date 03 06 2000 to record the second purchase for BHP Shares Select 77 600 BHP Input 900 Input a debit amount of 35 964 00 Click MORE to input purchase details Input purchase date 70 72 2009 Input settlement date 73 72 2009 BGL Corporate Solutions Pty Ltd 2015 Page 52 Si m p i e 5 UN q 5 60 SF360 Training Manual Professional Edition Record purchase of Listed Unit Trusts Select Add line Select an account Input 78200 GPT which was previously added to the global Chart of Accounts Units Input 72 700 Amount Input a debit amount of 25 000 00 More details panel Click EE to input purchase details Contract date Input purchase date 07 70 1995 Settlement Date Input settlement date 04 70 7995 Record the opening Bank Balance as at 30 06 2013 Select an account Add New Account ad Select Create Bank Account select bank Make Default Bank Account Select this option BSB Number Enter your bank account details Account number Enter your bank account details Account Code Input a unique bank code Account Name Input V2 Plus Account Save Bank Account Click Select an account Select 6O40 ANZ Amount Input a debit amount of 477 0
4. NEW TRANSACTION Bank Statement Journal M Depreciation Corporate Action Page 89 O SimpleFund 360 SF360 Training Manual Professional Edition From the Transaction List you can now record the Return of Capital Date Reference Description Select an account Units Amount More details Return of Capital Details Account 60400 ANZV2 ANZ V2 Plus Asset Bank Bank Accounts v Default Bank 78200 GPT AX GPT Group Investment Input 26 04 2074 Input 787 Input Aeturn of Capital for GPT select Account 78200 GPT AX Input a 0 Input a credit amount of 2 500 00 Click to open the more details panel The original purchase parcel will be selected by default Units Debit Credit 2 500 00 0 00 0 000000 2 500 00 MORE Units in Listed Unit Trusts Australian Select Post to save the transaction Page 90 BGL Corporate Solutions Pty Ltd 2015 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Lesson 5 Pensions In this lesson you will learn the required steps to consider when commencing a pension Lesson overview e Task 5 1 Preliminary Requirements Before Pension Commencement e Task 5 2 Commencing a Pension e Task 5 3 Recording a Pension Payment e Task 5 4 Fund Pension Policies By the end of this lesson you will be able to identify the steps required to commence a pension reverse any deferred tax liabilities if applicable create entries prior
5. 1994 to 30 0 6 2013 System Start Date Are you entering opening balance yes No 0107 2013 Click i Once this step has been completed the BGL Training Fund can be selected form the Fund Selection List BGL Corporate Solutions Pty Ltd 2015 Page 23 S imp erun q 460 SF360 Training Manual Professional Edition Task 2 3 Fund Details and Fund Relationships Objective In this task you will learn how to input the general reporting information for the fund By the end of this task you will be able to e Input Fund Reporting Details e Input Address Details e Review Fund Setup Details e Input fund relationships Fund Details in Simple Fund 360 The Fund Details screen allows you to put in all fund specific information including e Fund Name e Fund Formation Date e Fund Addresses e Fund Reporting Options The SMSF screen allows you to input information directly into Sections A and L of the SMSF Annual Return Fund Details The Fund Details screen allows you to input and review the following information Details Screen Explanation Options Fund Input the name of the fund Name Fund Input the fund code Code Date Input the fund start date Formed Page 24 BGL Corporate Solutions Pty Ltd 2015 Screen Options Wind Up Date System Start Date Fund Type TFN ABN WPN SFN RSE Postal Address Physical Address SF360 Training Manual Professional Edition E
6. 360 SF360 Training Manual Professional Edition Task 5 3 Recording a Pension Payment Objective In this task you will learn how to post pension payments in Simple Fund 360 Transaction Details Date 01 06 2014 Reference 911 Description Pension Payment Input Account 41600 JJones Amount 5 000 00 Instructions From the Main Toolbar go to Accounting Select Transaction list from the list Select New Transaction Select Bank Statement Page 98 ede BSE ACCOUNTING Accounting Chart of accounts Transaction list Transaction matching NEW TRANSACTION Bank Statement Journal Y Depreciation Corporate Action BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao trainns Mana Protessiarai son From the Transaction List you can now record the Pension Payment Date Input 07 06 2074 Reference Input 977 Description Input Pension Payment Select an account Select Account 4760Q0 J ones Amount Input a debit amount of 5000 00 Account Units Debit Credit 60400 ANZV2 ANZ V2 Plus 0 00 9 000 00 Asset Bank Bank Accounts Default Bank 41600 JONJOHOO856P Pensions Paid Jones John Pension Account Based Pension 5 000 00 Expense Member Pensions Paid Select Post to save the transaction Pensions are paid out of the one account in Simple Fund 360 Account 41600 MEMBERCODE Account 41600 MEMBERCODE will be added to the chart of accounts when the pensio
7. Agent Address for postal Select Yes to use the Tax Agent s address as the postal address address in tax returns Select No to use the fund s postal address Page 26 BGL Corporate Solutions Pty Ltd 2015 Sim p leFund 360 SF360 Training Manual Professional Edition Instructions In this task we are going to input and complete the fund addresses and reporting details Input Fund Details From the Main Toolbar go to Fund Select Fund details from the list E Fund Fund dashboard Fund details Fund relationships From the Fund Details page you will be able to review the date formed TFN ABN and Financial Year These details will be saved from the Quick Fund Setup process Input Fund Address Details Fund Address Postal address Address Line Suburb Town State Postcode Physical Address Address Line Suburb Town State Postcode Select Save BGL Corporate Solutions Pty Ltd 2015 Input PO Box 8063 Input Brghton East Select Victoria Input 3787 Input 606 608 Hawthorn Road Input Brghton East Select Victoria Input 3787 Page 27 C SimpleFund 360 Fund Address Postal Address PO Box 8063 Suburb Town State Post Code Brighton East VICTORIA Y 3187 2 Creating Fund Relationships SF360 Training Manual Professional Edition Physical Address Same as Postal Address 606 608 Hawthorn Road Suburb Town State Post Code Brighton East VICTORIA kd 3187 The Fund Relationships screen a
8. If a user has forgotten their password they will need to follow these steps to reset the password 1 Navigate to your Simple Fund 360 login page and select Forgot your password 2 The user will be directed to the Forgot your password screen They will need to enter their email address and input a security code 3 Select Reset Password and an email will be sent to the user s email address This email will contain a new temporary password to use to log in to the Create your own unique password page The user can enter their new password and click Update to activate the new password A password can also be reset when logged in to Simple Fund 360 as an Administrator 1 From the left hand menu go to Settings 2 Select User List from the list 3 From the User List page find the user you wish to reset the password for and select the check box to the left At the top of the screen the Reset Password button will appear Select this to reset the user s password An email will be automatically forwarded to the selected user which will contain a new temporary password Page 14 BGL Corporate Solutions Pty Ltd 2015 O Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Lesson 2 Fund Setup This section will take you step by step through the process of setting up the BGL Training Fund in Simple Fund 360 This section will also go through the various accounts and transaction types that will assist in determining the accounts
9. Mary Jones Details TFN 999 999 870 Date of Birth 0603 1954 Address 606 608 Hawthorn Road East Brighton Victoria 3187 Member code change the member code to Mjones Account description Input Accumulation Mary Jones Start Date Input 14 06 7994 Service Period Start Date Input 21 06 1977 Once Mary has been created select No to input the members opening balances Once you have added the fund members with the start date as at 14 06 1994 from the Main Toolbar menu select Fund Fund Details and update the Financial Year to 01 07 2012 30 06 2013 BGL Corporate Solutions Pty Ltd 2015 Page 37 O Si m p e B UN q 5 60 SF360 Training Manual Professional Edition Task 2 5 Transactions and the Chart of Accounts Objective In this task you will learn about the various transaction types in Simple Fund 360 You will also learn how to navigate the chart of accounts in Simple Fund 360 By the end of this task you will be able to e recognise the differences between the transaction types e identify when to select the appropriate transaction types e create main accounts e identify the account code groups for each of these account types e identify when to create a normal control or sub account e identify the various tax and regulatory return labels The Chart of Accounts The Chart of Accounts is a list of accounts that every transaction you enter into Simple Fund 360 is coded to i e classified for management and repor
10. Pack Enter a Report Pack name and select Save Pack The Report Pack will now be added to the Select Report Pack list How to edit an existing Report Pack From the Reports screen select a Report Pack from Select Report Pack To add additional reports and documents to the Report Pack click Add or simply drag amp drop the report into the Drag amp Drop field To remove a report from the Report Pack select Options and from the drop down list select Remove Report Select Save Pack Changes to save the changes or exit from the Report Pack to abort any changes How to run a Report Pack To download a Report Pack in PDF follow the steps below 1 From the Reports screen select Select Report Pack and choose the Report Pack from the drop down list below Select the Reporting Dates for the Report For a custom reporting date select Custom Dates and input the Start and End date Select a Badge to attach to the pack Select Preview PDF Simple Fund 360 will produce the Report Pack in PDF which will be stored in the Documents Tab To download an individual report in PDF Word or Excel 1 On the left hand side of the Reports screen Drag amp Drop a report 2 Once the report has been dragged amp dropped select Options 3 Select either Download PDF Download Word or Download Excel Page 108 BGL Corporate Solutions Pty Ltd 2015 Si m p i C F U na 5 60 SF360 Training Manual Professional Editi
11. Transaction Search Transaction Search Refresh Transaction Filter Unmatched Manually Matched Auto Matched BGL Corporate Solutions Pty Ltd 2015 Explanation Select New Transaction and from the drop down list select a transaction type Type in the date account or reference of a transaction s you are looking for and select Search Filter the Transaction List by a specified date range Select Refresh to refresh the Transaction List and remove the search options you have input Select Transaction Filter to complete an advanced search for a specific transaction Narrow your search by inputting the following conditions e Bank account e Data Source Bank Data Contract Notes BT Wrap MYOB BankLink Xero Manual e Reference Het e Account e Description e Units e Debit e Credit e Created by e Last Modified by Multiple conditions can be selected click Add another condition to set up another condition Click on the link to display transactions that are currently unmatched Transactions matched through the ransaction Matching screen Click on the link to display transactions that have been manually matched only A blue tick will appear O Transactions matched through Simple Fund 360 Click on the link to display all transactions that have been auto matched only A green tick will appear under the Status column for automatically matched transactions Page 41 Journal Filter Select the
12. a pension member account to the fund you need to convert an existing accumulation member to pension phase 1 From the Member List screen select New Member Account and from the drop down list below select New Accumulation Member 2 Input the member s personal details If the member has been added to the Contacts list in Simple Fund 360 see Getting Started Add a Person begin inputting their name into the Select Member From Contacts search bar and select their name from the drop down list that appears below 3 Simple Fund 360 will create a MEMBERCODE based on the member s name which is editable Once you have saved the member account the MEMBERCODE s no longer editable 4 Input the following details of the member Account Explanation Details Account Insert an account description This is a mandatory field For example if the account Description is a pension account input the type of pension account such as Account Based Start Date Input the date the member joined the fund Nominate Explanation Beneficiaries Add select Add Beneficiary to nominate a beneficiary to the member Currently Beneficiary nominated beneficiaries can not be displayed on the Members Statements This feature has been added to the Simple Fund 360 Wishlist Upload Form Select Upload Form to upload a Binding Death Nomination Form View Form Select View Form to view the Binding Death Nomination Form 5 Select Save to add the member to the fund
13. add a new contact The Add Edit Person page will now display in a new pop up screen for you to input the member details for John Jones John Jones Details Surname Jones First Name S John Title Mr Sex Male TFN 999 999 941 Date of Birth OV1 1 1947 Address 606 608 Hawthorn Road Brighton East Victoria 3187 Add Edit Person Select Save John Jones will now be automatically selected in the Members List screen Member Code Change the member code to Jones Account description Input Accumulation John Jones BGL Corporate Solutions Pty Ltd 2015 Page 35 SimpleFund 360 Start Date Input 74 06 7994 Service Period Start Date Input 2008 11975 Add Personal Details TER Select Member From Contacts bese for rb er a Jormes John Beth Dabe io Pleriber Dae ih e i 7 Jones bdt Contaci Account Details meer LME Sart ie BOE Te BeCuTuUbs bon An Jones SF360 Training Manual Professional Edition pi fra 20 0B TTS fia Select Save to create John Jones as a member The following screen will display System Confirmation Would you like to input opening balances for this member Select No as we will be adding a second member to the fund Repeat the steps above to add Mary Jones as a member Mary Jones Details Surname Jones First Name S Mary Title Mrs Sex Female Page 36 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao rina vanua Presson son
14. check box next to Journal to filter the Transaction List to display Journals SF360 Training Manual Professional Edition only Bank Select the check box next to Bank Statement to filter the Transaction List to display Statement Bank Statements only Filter Corporate Select the check box next to Corporate Action to filter the Transaction List to display Action Filter Corporate Action transactions only System Select the check box next to System Journal to filter the Transaction List to display Journal Filter transactions posted by Simple Fund 360 only Depreciation Select the check box next to Corporate Action to filter the Transaction List to display Filter Depreciation Transactions only Status If the transaction displays a tick then Simple Fund 360 has confirmed that the transaction has been matched successfully If the transaction displays a warning symbol the transaction is currently unmatched Refer to Transaction Matching for more information on how to match the transaction Ds Note If you have used Member Data Clearing Account 94920 when inputting opening balances these journals will appear unmatched in the Transaction List This is normal do not attempt to change the journals See ask 2 6 of the Professional Training manual for more information Date Select Date to sort the Transaction list by ascending or descending dates Ref Select Ref to sort the Transaction List by ascending or descending transaction re
15. e Task 1 3 Invite user User Roles and Reset Passwords Page 4 BGL Corporate Solutions Pty Ltd 2015 O Si m pl e Fu na 560 SF360 Training Manual Professional Edition Task 1 1 Sign into Simple Fund 360 Let s get started Simple Fund 360 is the next generation SMSF solution from BGL Simple Fund 360 will give you access to your SMSF anywhere anytime on any device meaning you can connect with more people more often Sign into Simple Fund 360 To log in to Simple Fund 360 please follow three simple steps 1 Go to the Simple Fund 360 Login Page 2 Enter the Username and Password Login details will be provided by your trainer Note In order for staff clients advisors users and others to access Simple Fund 360 an invitation needs to be sent containing a username and password to the individual which will be used to access Simple Fund 360 A valid email address which will become the username will be required to complete the invitation Welcome to 360 Forgot your password 3 Click Sign In BGL Corporate Solutions Pty Ltd 2015 Page 5 Si m p e r UN d 5 6 0 SF360 Training Manual Professional Edition Task 1 2 Navigation and Help Objective In this task you will learn how to access all available resources for Simple Fund 360 You will learn general navigation and shortcut tips that will improve your efficiencies By the end of this task you will be able to e Access Simple Fund 360 Help e Navigation overview
16. it is well worth the effort as once all opening details have been entered your Superannuation compliance work will become a lot simpler Complex capital gains tax calculation transactions will become a breeze Full tax effect accounting journal entries and detailed member journal allocations can be generated with the click of a button which then allows you to generate valuable client financial and investment reports with no re keying of data required Input Member Account Balances The BGL Training Fund has two members consisting of John and Mary Jones For a detailed summary of the members balance as at 30 06 2013 refer to Appendix A Members Statements John Jones Preserved Balance Tax Free Component 58 939 30 Taxable Component 450 190 00 Total Member Balance 509 129 30 Mary Jones Preserved Balance Tax Free Component Taxable Component 422 201 56 Total Member Balance 422 201 56 BGL Corporate Solutions Pty Ltd 2015 Page 45 O Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Instructions In this task you will learn how to you how to input the members opening balances When inputting members balances you must set 1 The correct preservation amount and 2 The correct taxation components lt is important to record the correct preservation and taxation components amounts as they will affect the taxation on future withdrawals from the SMSF From the Main Toolbar go to Accounting Select Tr
17. or Cancel to abort the change After selecting Save the following screen will display Page 32 BGL Corporate Solutions Pty Ltd 2015 System Confirmation Would you like to input opening balances for this member 6 Select Yes to input opening balances for the member or No to return to the Member List BGL Corporate Solutions Pty Ltd 2015 Page 33 SimpleFund 360 srseoTranng manusi Present Instructions This task will now show you how to add individuals to the contacts screen and create accumulation members Create New Member Accounts After you have selected the BGL Training Fund From the Main Toolbar go to Member mg MEMEER Select Member list from the list Member Member list Contribution dashboard Pension dashboard Fund pension policies Select New Member Account New Member Account Select New Accumulation Member New Member Account New Accumulation Member New Pension Account Page 34 BGL Corporate Solutions Pty Ltd 2015 O Si m p e B UN q 5 60 SF360 Training Manual Professional Edition Add Personal Details Click New Contact to create your first member for the BGL Training Fund this will open the Contacts Screen in a new tab Note The Contacts screen will list all the people companies trusts or other entities previously created and linked to your tirm If the contact has been previously create and exists on the contacts database you will not be reguired to
18. to commencing a pension change a member account from accumulation to pension mode input actuary settings post pension payments view pension dashboard BGL Corporate Solutions Pty Ltd 2015 Page 91 Si mp e 5 UN q 50 U SF360 Training Manual Professional Edition Task 5 1 Preliminary Requirements Before Pension Commencement Objective Before commencing a pension you will need to review some of the following tasks e Income and expenses e Tax Effect Accounting e Write back of Deferred Tax Liability e Create Entries to Update Member Balance Income and expenses John Jones will start a pension on the 05 05 2014 All transactions have been uploaded and matched using Simple Fund 360 s Connected Services and Transaction Matching feature to the date of pension commencement When starting a pension you need to ensure that all transactions have been matched or entered and that nothing is left outstanding in all clearing or suspense accounts Tax Effect Accounting Tax etfect accounting creates a capital gains tax provision for investments that have increased or decreased in value but have not yet been sold The Create Entries process calculates timing differences on unrealised capital gains and posts an entry to the 89000 Deferred Tax Liability Account This task reverses the current provisions for tax deferred amounts and switches off tax effect accounting Since John Jones is about to start a pension no capital gains tax will appl
19. v New Rule v CR 1 106 88 Description Task 4 2 1 Creating a Transaction Matching Rule Simple Fund 360 uses matching rules to match bank statement transactions automatically These rules are based on certain conditions such as the description of a transaction or its value When an unmatched transaction meets a condition it is allocated to a predetermined account or investment code Matching rules are designed to further increase the automation of Transaction Matching in Simple Fund 360 Instructions The BGL Training Fund received bank interest on the 23 03 01 01 08 08 and the 03 07 We will now create a Transaction Matching Rule that will match all outstanding interest payments and set up a rule for any further interest payments that will be received in the future From the Main Toolbar go to Accounting ns Ma ACCOUNTING Select Transaction matching from the list Accounting Chart of accounts Transaction list Transaction matching From the Transaction Matching screen select New Rule next to the uncoded interest receipt Account 123456789 Suggestion New Transaction Search Comment 23 03 2014 ANZ V2 Plus Account v New Rule Credit merest v xL ape O DR 250 00 Description BGL Corporate Solutions Pty Ltd 2015 Page 73 O Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition This will open a wizard that will guide you through the five steps required to create a Transaction Matching Rule Ste
20. 123456789 BGLBankDataService Feed Operating 430 662 01 W A BGL Corporate Solutions Pty Ltd 2015 Page 117 SimpleFund 360 srao ring vanua Presson son Task 6 5 Close Financial Year Objective In this task you will learn how to balance the fund ledger forward to the next financial period after you have processed all the transactions and created entries for the financial year Instructions From the Main Toolbar go to Compliance COM PLLIAACE Select Period compliance from the list Compliance Period compliance Tax compliance This process is completed at the end of each financial year Closing the financial year will balance the ledger forward to the next financial year To balance the ledger forward to the next financial year select Close Period under the Action column on The following message will display Are you sure you want to close period Cancel Select OK Page 118 BGL Corporate Solutions Pty Ltd 2015 Si m pl eFu na 560 SF360 Training Manual Professional Edition Appendices e Appendix A Members Statements e Appendix B Detailed Purchase and Disposal Report e Appendix C Detailed Statement of Financial Position e Appendix D Investment Summary Report e Appendix E Detailed Operating statement BGL Corporate Solutions Pty Ltd 2015 Page 119 O Si m p e FU n q 5 6 0 SF360 Training Manual Professional Edition Appendix A Members Statements BGL TRAI
21. 72e accompanying notes form part of these financial statements as a footer in the Operating Statement and Statement of Financial Position Click No to remove Draft Copy in the heading of each report produced in the Report Pack Select either the Brackets or Minus Sign from the drop down list to determine how negative amounts in financial statements will appear for funds attached to this Badge Select No to remove dates appearing on the signature sections of reports and in the headings of trustee minute resolutions If No is selected the date field will be left blank for you to print the document and fill in manually If Yes is selected the date will pre fill BGL Corporate Solutions Pty Ltd 2015 C SimpleFund 360 SF360 Training Manual Professional Edition 4 Set the Reporting Options for the fund s attached to this Badge Report Explanation Option Tax Effect Select this option as this fund will account for PDIT Accounting Resident Click this check box if fund s attached to this Badge are Australian residents for Fund Income Tax purposes GST When a SMSF is registered for GST you will need to select this option By selecting Registered this option the Transaction List will update with a GST Rate and GST Amount field Create Entries will now also include GST calculations The Advanced Training Fund is not registered for GST do not tick this option Include This option will treat realised capital losses as a timing diff
22. 76 30 BGL Corporate Solutions Pty Ltd 2015 Page 53 SimpleFund 360 SF360 Training Manual Professional Edition Balancing Eniry Select Add line Account 94920 member Data Clearing Account Select an account Amount Input a credit amount of 895 287 30 oun Units Debit Credit 72400 WPTD Westpac Term Deposit 360 000 00 Investment Fixed Interest Securities Australian 77600 CBA AX Commonwealth Bank Of Australia 400 000000 19 976 00 MORE Investment Shares in Listed Companies Australian 77600 BHP AX BHP Billiton Limited 2 388 000000 43 325 00 MORE Investment Shares in Listed Companies Australian oO 77600 BHP AX BHP Billiton Limited 900 000000 35 964 00 MORE Investment Shares in Listed Companies Australian 78200 GPT AX GPT Group 12 700 000000 25 000 00 MORE Investment Units in Listed Unit Trusts Australian m 60400 ANZV2 ANZ V2 Plus 60400 ANZV2 411 016 30 Asset Bank Bank Accounts 94920 Member Data Clearing Account 895 281 30 Unallocated Once your Balancing entry has been entered save the transactions by selecting Post Note For training purposes we have utilised Account 94920 Member Data Clearing Account However when setting up a fund you will not be required to post to Account 94920 It is recommended to enter all components of the balance sheet in a single journal Manual Revaluation on Investments You must adjust your investment accounts up or down to their record
23. 8 00 25 000 00 23 768 00 18 053 00 950 600 86 895 281 30 55 319 56 49 604 56 BGL Corporate Solutions Pty Ltd 2015 Page 123 simpleFund 360 Appendix E Detailed Operating statement Gpt Group Stapled Securities Fully Paid Employer Contnibutions Concessions Jones John Jones Mary Interest Recerved Westpac Term Deposit mal Contbutons Non Concessions Expenses Accountancy Fees Benefits Accrued as a Result of Operations before Income Tax Income Tax Note 7 Income Tax Expense Benefits Accrued as a Result of Operations Page 124 SF360 Training Manual Professional Edition 1 200 1 200 97 353 42 634 42 634 54 719 BGL Corporate Solutions Pty Ltd 2015
24. After 30 06 2014 B 4 Select Import Transaction Matching for Buys and Sells When using the BGL Bank Data and the Contract Note Service simultaneously most purchase and disposal transactions will be automatically matched Automatic Match Instructions From the Main Toolbar go to Accounting ran Roll ACCOUNTING Select Transaction list from the list Accounting Chart of accounts Transaction list Transaction matching On the 01 07 2013 the BGL Training Fund sold 2000 BHP Billiton shares Simple Fund 360 will automatically match the Contract Note against the Bank Data The default method for this disposal will be set to Most Tax Effective This journal can be edited from the Transaction List screen if required On the 06 07 2013 the BGL Training Fund purchased 1000 units of BHP Billiton Limited Simple Fund 360 will automatically match the Contract Note against the Bank Data no user interaction is required Select the paperclip icon from the Transaction List and Simple Fund 360 will load the documents page You will be able to view the contract note PDF for a particular purchase or disposal BGL Corporate Solutions Pty Ltd 2015 Page 81 SimpleFund 360 sposo taning manu Protest Eto Suggested Match Instructions From the Main Toolbar go to Accounting ACCOUNTING Select Transaction matching from the list Accounting Chart of accounts Transaction list Transaction matching From the Transacti
25. Corporate Solutions Pty Ltd 2015 Page 85 oO SimpleFund 360 SF360 Training Manual Professional Edition Task 4 4 Dividend Distribution Reinvestment Objective In this task you will learn how to record units issued under a dividend reinvestment plan A dividend reinvestment is an additional purchase of units by way of dividends received from the investment to fund the purchase Any residual dividend reinvestment balance that remains after unit purchases is allocated to account 62500 Dividend Reinvestment Residual Account Transaction Details Date Reference Security Dividend Amount Imputed Credit Units Investment Cost Dividend Reinvestment Residual Amount Page 86 26 03 2014 987 7 7600 BHP AX 1349 92 578 54 19 1292 00 57 92 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao raining Mana Pees son Instructions From the Main Toolbar go to Accounting ADCOUNTIH 5 Select Transaction list from the list Accounting Chart of accounts Transaction list Transaction matching Select the New Transaction NEW TRANSACTION Select Journal Bank Statement Journal Ders eciation Corporate Action From the General Journal page you can now record a Dividend Reinvestment for BHP Date Input 26 09 2074 Reference Input 987 Description Input Dividend Reinvestment tor BHP Select Dividend Distribution Reinvestment Select an Input 7 600 BHP AX account Un
26. Fund 360 will not be able to recognise the original cost base and will therefore calculate incorrect capital gains Fund Investments must be entered at the original purchase price Refer to Appendix B Detailed Purchase and Disposal Report Page 48 BGL Corporate Solutions Pty Ltd 2015 te SimpleFund 360 SF360 Training Manual Professional Edition Instructions In this task you will learn how to input all investment history From the Main Toolbar go to Accounting wich ntl ACCOUNTS Select Transaction list from the list Accounting Chart of accounts Transaction list Transaction matching Select the New Transaction NEW TRANSACTION Select Journal Bank Statement Journal Cy a Corporate Action BGL Corporate Solutions Pty Ltd 2015 Page 49 QO SimpleFund 360 srao rang Mana Protessiarai son Record purchase of Westpac Term Deposit Date Input 30 06 2073 Reference Input 3 Description Investment Purchase History Select an account Select Create Investment Select Investment Investment Type Select Fixed nterest Securities Australian Investment Code Inout WPTD Name Westpac Term Deposit New Investment Account Account Class Sub Account Investment Type Fixed Interest Securities Australian Attach to all funds Select Funds w 1 Selected Inactive Account Code Investment Code 72400 WPTD Name Westpac Term Deposit Save Investment Select Account Account 72400 WPTD w
27. Mana Protessiarai son Create Entries to Update Member Balance In Simple Fund 360 you need to create entries the day before the pension starts This step needs to be completed so assets are valued at their net market value on the commencement day of the pension This will also update the member balance which will be reported to the ATO as the purchase price of the pension Instructions John Jones will start a pension on the 05 05 2014 You will need to create entries on the 04 05 2014 From the Main Toolbar go to Compliance COMPLIANCE Select Period compliance from the list 7 P Compliance Period compliance Tax compliance Follow these steps to complete the part year Create Entries 1 Under the Create Entries Period heading input the financial year as 01 07 2013 to 04 05 2014 Create Entries Period Start Date 0107 2013 E End Date 04 05 2014 E Create Entries ia NO Display Member Allocation Worksheet Tax Adjustment View Losses Depreciation 2 Select Create Entries BGL Corporate Solutions Pty Ltd 2015 Page 95 Si m p e 5 U na 5 60 SF360 Training Manual Professional Edition Task 5 2 Commencing a Pension Objective In this task we will be commencing an Account Based Pension for John Jones on the 05 05 2014 Instructions From the Main Toolbar go to Member P ka MEMEER Select Member list from the list Member Member list Contribution dashboard Pension dashbo
28. NING FUND MEMBER S INFORMATION STATEMENT FOR THE YEAR ENDED 30 JUNE 2013 JOHN JONES Total Benefit 509 129 30 Preservation Components Preserved 509 129 30 Restricted non preserved Unrestricted non preserved Tax Components Tax Free 98 939 30 Taxable 450 190 00 Death benefit at 30 6 2013 1 000 000 00 MARY JONES Total Benefit 422 201 56 Preservation Components Preserved 422 201 56 Restricted non preserved Unrestricted non preserved Tax Components Tax Free Taxable 422 201 56 Death benefit at 30 6 2013 1 000 000 00 Page 120 BGL Corporate Solutions Pty Ltd 2015 SF360 Training Manual Professional Edition Appendix B Detailed Purchase and Disposal Report DETAILED PURCHASE AND DISPOSAL REPORT AT 30 JUNE 2013 Date Details Uruts Urut Price Amount shares in Listed Companies Australian Bhp Billiton Limited Ordinary Fully Paid 0206 2000 Purchase 2 266 U000 18 1425 4532500 107122009 Purchase 900 0000 29 9600 33 964 00 328 U000 79289 00 Commonwealth Bank of Australa Ordinary Fully Paid 21 10 2010 Purchase 40 0000 49 9400 19 976 00 400 0000 19 976 00 Units in Listed Unit Trusts Australian Gpt Group Stapled Securtties Fully Paid 011071993 Purchase 12 700 0000 1 9683 23 000 00 12700 0000 23 000 00 124 265 00 BGL Corporate Solutions Pty Ltd 2015 Page 121 simpleFund 360 SF360 Training Manual Professional Edition Appendix C Detailed Statement of Financial Position Balance She
29. Objective In this task you will learn how to update the fund ledger to the next accounting period to begin working on current year transactions Instructions From the Main Toolbar go to Fund FLA Select Fund details from the list Fund Fund dashboard Fund details Fund relationships Fund export Under the Reporting section change the Financial Year to the following 07 07 2073 to 30 06 2074 Reporting Financial Year OV07 2013 B to 30 06 2014 B If you wish to close period to the next financial year navigate to compliance screen and select the close period option For more information Click Here f Tax Effect Accounting w Include realised Capital Losses in PDIT FITE GST Registered y Include unrealised Capital Losses at 10 Resident Fund Fund Tax Rate 459 O 45 Non Complying Fund Save Once the Financial Year has been updated select ES Page 62 BGL Corporate Solutions Pty Ltd 2015 S i m p e F U na 5 6 0 SF360 Training Manual Professional Edition Lesson 3 BGL Data Services This section will take you step by step through the process of setting up the BGL Training Fund for e Task 3 1 BGL Bank Data Service e Task 3 2 Share Data Pack BGL Corporate Solutions Pty Ltd 2015 Page 63 Si m p e H UN d 5 60 SF360 Training Manual Professional Edition Task 3 1 Setup The BGL Bank Data Service The Bank Data Service is the most efficient way of obtaining bank data for S
30. Panel Click Other Non Assessable Amounts Input Tax Free Amount 400 00 and Tax Deferred Amount 700 00 Select an account Select Account 23900 BHP Amount Input a credit amount of 2200 00 More details panel Click MORE Dividend Details Input Franked Dividend of 2 200 00 and Franking Credit of 942 86 Continue entering the remaining operating statement items by selecting Add Line Account Description Amount 24700 Increase in Market Value 52 553 00 30100 Accountancy Fees 1 200 00 25000 WPTD Interest Westpac Term Deposit 4 800 00 24200 JJones Contributions Employer 7500 and Personal Non Concessional 20 000 27 500 00 24200 Employer Contribution 8000 00 MJones 48500 Income Tax Expense 42 634 00 49000 Profit Loss Allocation Account 54 719 00 To save the transaction select Post Page 60 BGL Corporate Solutions Pty Ltd 2015 O SimpleFund 360 The following message will display Message SF360 Training Manual Professional Edition unrealised movement in your Financial Statements When entering manual revaluation entries L Transactions with no units entered to an investment account a corresponding amount must be posted to the 24700 account If you wish to adjust 4 cost base please refer to By posting this transaction SF360 will not be able to reconcile the the help files below for the correct steps How to Enter a Cost Base Adjustment How to Enter a Return of Capital Do you want to cont
31. Shares Date 01 07 2013 Type Disposal Investment BHP Billiton Limited Amount 60000 00 BGL Corporate Solutions Pty Ltd 2015 Page 79 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Units 2000 Share Purchase details On the 6th of July the BGL Training Fund purchased 1000 units of BHP Billiton Limited Ordinary Fully Paid Shares Date 06 07 2013 Type Share Purchase Investment BHP Billiton Limited Amount 32090 00 Units 1000 Instructions Re Request Transactions From the Main Toolbar go to Home A CONNECT Select Manage data feeds from the list Connect Manage data feeds Superstream Connections Lodgement Under the Share Data Packs section select Start Using Start Using 1 Navigate to the Share Data Pack Management dashboard under the Tools column select the BGL Training Fund Re Request Transactions 2 Select the button 3 From the Re Request Transactions screen change the dates Do Not Load Before to 01 07 2013 and Do Not Load After to 30 06 2014 Page 80 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao trainns Mana Protessiarai son Re Request Transactions Transactions from the previous day will be automatically imported each night You may re request transactions for any given period using the inputs below Note Transactions prior to the last Create Entries Date will not be imported Do Not Load Before 0107 2013 05 Do Not Load
32. Simple Fund 360 Professional Training Manual BGL SimpleFund 360 Table of Contents Lesson 1 Simple Fund 360 Administration Task 1 1 Sign into Simple Fund 360 Task 1 2 Navigation and Help Task 1 3 Invite User User Roles and Reset Passwords Lesson 2 Fund Setup Task 2 1 Create a Badge Task 2 2 Quick Fund Setup Task 2 3 Fund Details and Fund Relationships Task 2 4 Add SMSF Members Task 2 5 Transactions and the Chart of Accounts Task 2 6 Input Balance Sheet Items Task 2 7 Input the Operating Statement Task 2 8 Update Ledger to Current Year Lesson 3 BGL Data Services Task 3 1 Setup The BGL Bank Data Service Task 3 2 Setup The Share Data Pack Lesson 4 SMSF Processing Task 4 1 Upload a CSV Bank Statement Task 4 2 Transaction Matching Task 4 3 Tax Payments Task 4 4 Dividend Distribution Reinvestment Task 4 5 Return of Capital Lesson 5 Pensions Task 5 1 Preliminary Requirements Before Pension Commencement Task 5 2 Commencing a Pension Task 5 3 Recording a Pension Payment Task 5 4 Fund Pension Policies Lesson 6 Preparing Year End Reports Task 6 1 Create Entries Process Task 6 2 Prepare Report Packs Task 6 3 Customise a Letter Task 6 4 Fund Dashboard Task 6 5 Close Financial Year Appendices Appendix A Members Statements Appendix B Detailed Purchase and Disposal Report Appendix C Detailed Statement of Financial Position Appendix D Investment Summary Report Appendix E Detailed Operating statement SF360 Tr
33. This amount is automatically calculated based on the taxable and tax free components of the member s balances upon pension commencement Balance The current account balance of the member Member Accounts Member accounts will appear in the 50000 account range in the chart of accounts and can only be added through the Members screen Simple Fund 360 uses a MEMBERCODE to represent each member account the MEMBERCODE is the sub account for each member The MEMBERCODE will consist of e Up to twelve alphanumeric characters e An auto generated combination of the first three letters from the member s surname plus the first three letters of the member s first name In addition a further five numbers and the first letter of the member s account type accumulation or pension will be form the code For Example First Name Last Name Account Type MEMBERCODE Account Code John Jones Accumulation JONJOHO0001A 50001 JONJOHO0001A BGL Corporate Solutions Pty Ltd 2015 Page 31 SOU FUN rs SF360 Training Manual Professional Edition Member accounts are fund specific unique to each fund and will only appear in the Fund chart of accounts in Simple Fund 360 Add a Member When a member account is added the default is an accumulation account Each member in Simple Fund 360 can only have one accumulation account Refer to the ATO website for more information on superannuation interests if you would like to add
34. a Clearing Account 94920 509 129 30 Unallocated aid To post the journal select Post Repeat the above steps for Mary Jones Mary Jones Details Date Input 30 06 2073 Reference Input 2 Description Opening Balance Mary Jones Select an account Credit 50010 MJones Debit 94920 Member Data Clearing Account Amount Input a credit amount of 422 207 56 BGL Corporate Solutions Pty Ltd 2015 Page 47 Si m p C 5 UN q 5 60 SF360 Training Manual Professional Edition Mary Jones Details Tax Free Component Taxable Component Input 422 207 56 Preservation Amounts Input a Preserved Balance of 422 201 56 Units Debit Credit 422 201 56 j 50010 MJones Opening Balance Jones Mary Accumulation Accumulation Mar Member Opening Balance 94920 Member Data Clearing Account 94920 422 201 56 Unallocated Note For training purposes we have utilised Account 94920 Member Data Clearing Account However when setting up a fund you will not be required to post to Account 94920 It is recommended to enter all components of the balance sheet in a single journal Input Investment History When entering investment history purchases must use the more details panel and input the actual date of purchase The contract date must be entered in to provide accuracy of your reports and calculations for further processing If the contract date has not been entered when you dispose of the investment in the future Simple
35. adge Any changes you make to a fund s options outside of the Badge screen will only affect that particular fund the Badge option will remain unchanged Page 16 BGL Corporate Solutions Pty Ltd 2015 SimpleFund 360 sposo taning anu Protests zation Instructions From the Main Toolbar go to Settings e SETTINGS Select Badge from the list Settings adge User list User roles Contacts Email template Notification Lodging party 1 From the Badge screen select Create New Badge 2 Badge Name In the Badge Name field input the name you want to give the Badge BGL Corporate Solutions Pty Ltd 2015 Page 17 O Si m p i e 5 UN q 5 6 0 SF360 Training Manual Professional Edition 3 Set the General Report Settings for the Badge These settings determine how the financial reports produced by the fund s attached to this Badge will produce financial information Report Setting Rounding Show Comparatives Include Sign Time Stamp Reporting Entity Disclaimer Draft Copy Negative Amounts Date Documents Page 18 Explanation Click Yes to prepare rounded financial statements for fund s attached to the Badge Click No as there are no comparative amounts from the prior financial year Click Yes to include the sign in front of all numerical figures in financial statements Click No to remove the date and time prepared on the Financial Reports Click No Select Yes to display
36. age 111 Si m p e H UN d 5 60 SF360 Training Manual Professional Edition Task 6 3 Customise a Letter In this task you will learn how to change and prepare customised documents in Simple Fund 360 By the end of this lesson you will be able to e Edit a standard letter template e Upload a customised template e Create a customised letter Details Simple Fund 360 will provide clients with a standard docx template for letters and minutes Each letter or minute can be customised by following three steps 1 Downloading the report template 2 Editing the report template 3 Uploading the template into Simple Fund 360 Instructions From the Main Toolbar go to Reports Select Reports from the list Documents Step 1 Download the report template From the left hand menu click Custom Reports and select Add Custom Reports The Add Custom Report screen will display To download the template select Download Doc Page 112 BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 sesso raning mana Proessionat ston Get Your Template Download the report template and make your changes x Download Doc Step 2 Editing The Report Template The default template will now download and you will now be able to customise a letter using Microsoft Word One you have completed editing the letter you will need to save your changes and upload the docx file back into Simple Fund 360 Save the document to a l
37. aining Manual Professional Edition 11 19 16 21 24 30 38 45 59 62 63 64 67 70 71 72 83 86 89 91 92 96 98 100 103 104 107 112 115 118 119 120 121 122 123 124 Page 2 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao raining Mana Peessona son Welcome to Simple Fund 360 This training manual will help load a new superannuation fund process current year transactions and prepare year end financial statements BGL assume you have some general knowledge of accounting for superannuation funds This Training Manual is divided into six lessons Lesson 1 Simple Fund 360 Administration The Help and Training Resources section provides an overview of Simple Fund 360 and will explain how to get the most out of the software and documentation Lesson 2 Fund Setup This section will take you step by step through the process of setting up the BGL Training Fund in Simple Fund 360 This section will also go through the various accounts and transaction types that will assist in determining the accounts to use when posting transactions in Simple Fund 360 Lesson 3 BGL Data Services This section will guide you through setting up the BGL Bank Data Service and the Share Data Pack Lesson 4 SMSF Processing This section will show you how to process current year transactions Lesson 5 Pensions This section will focus on how to commence a pension in Simple Fund 360 Lesson 6 Preparing Year End Reports T
38. ansaction list from the list Select the New Transaction Select Journal ening BeF ACCOUN TIH Accounting Chart of accounts Transaction list Transaction matching NEW TRANSACTION Bank Statement Journal ry a Corporate Action From the Transactions screen input the members opening balances Date Reference Description Select an account Amount More Details Panel Page 46 Input 30 06 2073 Input 7 Opening Balance John Jones Select Account 50070 JJones opening Balance Input a credit amount of 309 729 30 Select MORE to enter the opening Balance Details BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao trainns Mana Protessirai son Rollover Components Input Tax Free Component 58 939 30 Input Taxable Component 450 190 00 Preservation Amounts Input a Preserved Balance of 509 129 30 Rollover Components Tax Free Component 58 939 30 Taxable Component Element Taxed in the Fund 450 190 00 Element Untaxed in the Fund 0 00 Total 509 129 30 Preservation Amounts Preserved Amount 209 129 30 Restricted Non Preserved Amount 0 00 Unrestricted Non Preserved Amount 0 00 Total 509 129 30 Select an account Select Account 94920 Member Data Clearing Account Amount Input a debit amount of 309 729 30 Account Units Debit Credit 50010 JJones Opening Balance Jones John Accumulation Accumulation Joh 509 129 30 Member Opening Balance ail 94920 Member Dat
39. ard Fund pension policies Select New Member Account Sl car ties ieee oe seat x Select New Pension Account New Member Account F New Accumulation Member New Pension Account Follow the steps below to commence a pension for John Start Date Input 05 05 2074 as the pension start date Select the pension account Select Account Based Pension type Select Accumulation Select John Jones accumulation account to convert When the account is Account selected the current account balance will be displayed Page 96 BGL Corporate Solutions Pty Ltd 2015 O Si m p e H UN q 5 6 0 SF360 Training Manual Professional Edition Is the full balance being If Yes is selected and the accumulation account is to be ceased after the used for the pension transfer select the Cease Original Member Account check box If No is selected input either the Percentage of members balance or Specific amount being transferred from the existing account Select Yes and tick Cease Original Member Account check box What component would the Select Unrestricted Non Preserved amount be transferred to Save Select Save and from the drop down list select Save Only Simple Fund 360 will automatically calculate the tax free proportion for the pension account You can check the tax free proportion calculated by Simple Fund 360 from the Member List once you have added the pension account BGL Corporate Solutions Pty Ltd 2015 Page 97 SimpleFund
40. at will auto match similar future transactions By selecting Yes Simple Fund 360 will create a Data Import Rule and will automatically code this transaction if it reoccurs Select No Task 4 2 4 Employer Contribution Employers must pay their employees the Superannuation Guarantee Contributions SGC at the rate of 9 50 of their salary and bonuses effective from 1 July 2014 An employer making SGC for an employee gets a tax deduction for this payment It forms part of the salary of the employee Often SMSF members operate their own businesses and pay themselves the SG contribution as part of their salary package Transaction details Date 07 10 2013 Type Employer Contribution Member John Jones Amount 1875 22 BGL Corporate Solutions Pty Ltd 2015 Page 77 C Si m pl e F U na 560 SF360 Training Manual Professional Edition Instructions From the Main Toolbar go to Accounting a ACC UAT Select Transaction matching from the list Accounting Chart of accounts Transaction list Transaction matching Account Search for Account 24200 ones More Details Select More Details and allocate the employer contribution Contribution Detalls Total Contributions 1 875 22 Employer 1 875 22 Match Tick the check box and select Match Account 123456789 Suggestion New Transaction Search Comment re pe Ve FaR Account 24200 JJones Contributions Jones Joh v New Rule 3 DR 1 875 22 Description More Deta
41. count a corresponding amount must be posted ta the 24700 account If you wish to adjust 4 cost base please refer to the help files below for the correct steps How to Enter a Cost Base Adjustment How to Enter a Return of Capital Do you want to continue Select Ok Page 56 BGL Corporate Solutions Pty Ltd 2015 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Revaluations for investments will be done daily or during create entries process as this transaction relates to opening balances you will need to confirm the message Note For training purposes we have utilised Account 94920 Member Data Clearing Account However when setting up a fund you will not be required to post to account 94920 It is recommended to enter all components of the balance sheet in a single journal Input Fund Liabilities To complete the setup for the BGL Training Fund the liabilities of the SMSF need to be entered Referring to Appendix C Detailed Statement of Financial Position there is Income Tax Payable and Provision for Deferred Income Tax Liability to account for These accounts are already established in the global chart of accounts and do not need to be created Instructions In this task you will learn how to account for the funds liabilities From the Main Toolbar go to Accounting Ee ACCOUNTING Select Transaction list from the list Accounting Chart of accounts Transaction list Transaction match
42. d sell transactions including PDFs from all major Australian Brokers The Contract Notes Data Service will e Read the data from the Contract Note e Add the transaction to the ledger e Attach a pdf copy of the contract note to the transaction e Automatically add new investments from any purchase e Automatically process Disposals and generate the CGT entries from any sale e Automatically generate all GST Entries To view a list of the currently supported brokers refer to he Share Data Pack Help Details Within Simple Fund 360 contract notes are automatically uploaded overnight directly into the specific fund Each fund will have its own unique email address Supported contract notes that have been forwarded to the address either by the online broker or manually sent will be read by the Contract Note Service and uploaded into Simple Fund 360 SimpleFund 360 Email your contract notes directly to BGL To subscribe to and set up the Contract Note Service you will need to complete the following steps 1 Set up the Contract Note Service for selected funds 2 Add and notify supported brokers of the unique email address 3 Set up a forward email address and enter any required passwords BGL Corporate Solutions Pty Ltd 2015 Page 67 Sim p leFund 360 SF360 Training Manual Professional Edition Instructions Contract Note Service Setup From the Main Toolbar go to Home CONNECT Select Manage data feeds fr
43. dress Begin Automating your Buys and Sells Once the brokers have been notified any contract note that has been sent to the unique email address will be processed in Simple Fund 360 automatically BGL Corporate Solutions Pty Ltd 2015 Page 69 O Si m p e B UN q 5 60 SF360 Training Manual Professional Edition Lesson 4 SMSF Processing This section will show you how to process current year transactions by loading a CSV bank statement and using the Transaction Matching screen This lesson will cover the most common type of transactions such as share purchases investment disposals fund contributions un der over provisions payment of the Supervisory Levy income tax payment and general expenses Lesson overview e Task 4 1 Load A CSV Bank Statement e Task 4 2 Transaction Matching Screen e Task 4 3 Tax Payments e Task 4 4 Dividend Distribution Reinvestment e Task 4 5 Return of Capital Page 70 BGL Corporate Solutions Pty Ltd 2015 O Si m p e 5 U na 5 60 SF360 Training Manual Professional Edition Task 4 1 Upload a CSV Bank Statement Instructions From the Main Toolbar go to Connect CONNECT Select Manage data feeds from the list Connect Manage data feeds Superstream Connections Lodgement Under the Banks section select Get Started Import into Simple Fund 360 1 From the Bank Feed Management screen under the Actions column select Import CSV File for the bank account you are
44. ealised Capital Losses at 10 Reporting Financial Year ovo7 201i3 0 to 30 06 2014 fi If you wish to close period to the next financial year navigate to compliance screen and select the close period option For more information Click Here sy Tax Effect Accounting Include realised Capital Losses in POIT FITB GST Registered Include unrealised Capital Losses at 10 v Resident Fund Fund Tax Rate 45 45 Non Complying Fund Select Save BGL Corporate Solutions Pty Ltd 2015 Page 93 Si m p e 5 U nda 5 60 SF360 Training Manual Professional Edition Writeback of Deferred Tax Liability From the Main Toolbar go to Accounting Select Transaction list from the list mi ent ACCOUNTING Accounting ese Sets oe m me ee arar i A l b i ft if i li i e m a i Pa Transaction matching Select the New Transaction NEW TRANSACTION Select Journal Bank Statement Journal Ders eciation Corporate Action From the General Journal screen you can write back the deferred tax liability Date Reference Description Select an account Amount Select an account Amount Save Page 94 Input 07072013 Input 577 Input PD 7 Wrteback Select Account 89000 Deferred Tax Liability Input a debit amount of 33 000 00 select Account 49350 Writeback FITB PD T Input a credit amount of 5000 00 Select Post BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 srao rang
45. ect Journal 2 Input the date of the transaction and a reference number Simple Fund 360 will automatically produce a reference number but it is editable You can include a description of the transaction in the Description box 3 Under the Account heading click on the Select an account check box and begin typing or select the accounts for quick reference you can type the account name to the transaction for each side If you are recording a split transaction one or more sides of the transaction involves two or more accounts select Add Line and select the additional account 4 Input the amounts of the transaction in the fields below the Debit and Credit columns 5 After you have entered all information for the transaction select Post to add the transaction and to return to the Transaction List or select Post amp Add Another to add the transaction to the Transaction List but remain on the Journal screen Page 44 BGL Corporate Solutions Pty Ltd 2015 Si m p e r UN d 5 6 0 SF360 Training Manual Professional Edition Task 2 6 Input Balance Sheet Items Objective In this task you will learn how to input opening balances for the SMSF members and balance sheet items By the end of this task you will be able to Input members balances e Input investment history e Manually revalue investments Input fund liabilities Details The process of entering the opening balances into Simple Fund 360 can seem daunting at first but
46. ed market value as at the 30 06 2013 Market value Original Cost Price Note The manual revaluation of investments is only required when entering opening balances This is a once off process Investments will be automatically revalued daily or during the create entries process To process the manual revaluations please refer to Appendix D Investment Summary Report Page 54 BGL Corporate Solutions Pty Ltd 2015 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Instructions In this task you will learn how to revalue investments to the current market price From the Main Toolbar go to Accounting in ACCOUNTING Select Transaction list from the list Accounting Transaction list Transaction matching Select the New Transaction NEW TRANSACTION Select Journal Bank Statement Journal Cy a Corporate Action Record the movement in market value for all investments Investment accounts must be adjusted up or down to their market value Simple Fund 360 distinguishes between a purchase transaction and a market value transaction based on whether units have been entered Therefore units must NOT be input when recording market value increases or decreases Date Input 30 06 2073 Reference Input 4 Description Revaluation on Investments Select an account Select Account 7 7600 BHP AX Units Do not enter any units as this will prompt Simple Fund 360 to treat this transaction as a reval
47. erence when calculating realised the provision for deferred income tax future income tax benefit for fund s attached capital to this Badge losses in his check box will be automatically ticked when Tax Effect Accounting is ticked PDIT FITB Include This option will include unrealised capital losses in timing differences at the 10 tax unrealised rate when calculating the provision for deferred income tax future income tax benefit capital This option assumes losses will be applied against discounted gains and is not losses at recommended where assets are generally sold within 12 months of acquisition 10 his check box will be automatically ticked when Tax Effect Accounting is ticked Fund Tax Leave this as 15 for a Non Complying SMSF switch the fund tax rate to 45 Rate Default Input the default financial year as 01 07 2013 30 06 2014 Financial Year 5 Set the Revaluation Order for Managed Funds Unit Trusts and Shares in Listed Companies The Badge applied to a fund will determine which price is used when investment revaluations are calculated Refer to Simple Fund 360 Help for further information 6 When printing the SMSF Annual Return the following PDF options can be applied to any fund attached to a badge e Print all Member pages from Section F G e Display signature box on all returns and schedules e Display member TFN in Section F G e Display fund TFN on return and schedules 7 Include Notes At badge level tick t
48. et As at 30 June 2013 Investments Shares in Listed Companies Australian Units in Listed Unit Trusts Australian Fixed Interest Securities Australian Other Assets V2 Plus Account Total Assets Less Liabilities Income Tax Payable Total Liabilities Net assets available to pay benefits Liability for accrued benefits allocated to members accounts Jones John Total Liability for accrued benefits allocated to members accounts Page 122 6 7 2013 130 616 56 43 053 00 411 076 30 13 555 00 13 555 00 931 330 86 422 201 56 931 330 86 BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 srao rina vanua Presson Eston Appendix D Investment Summary Report Investment Summary Accounting Report As at 30 June 2013 Investment Units Market Market Average Accounting Unrealised Movement Price Value Cost Cost Overall Current Year Cash Bank Accounts V2 Account 411 016 3000 411 016 30 411 016 30 411 016 30 411 016 30 411 016 30 Fixed Interest Securities Australian Westpac TD 360 000 0000 360 000 00 360 000 00 360 000 00 360 000 00 360 000 00 Shares in Listed Companies Australian BHP Billiton Limited 3 288 00 31 3700 103 144 56 24 11 79 289 00 23 855 56 23 855 56 Commonwealth Bank Of 400 00 69 1800 27 672 00 49 94 19 976 00 7 696 00 7 696 00 130 816 56 99 265 00 31 551 56 31 551 56 Units in Listed Unit Trusts Australian GPT Group 12 700 00 3 8400 48 768 00 1 97 25 000 00 23 768 00 18 053 00 48 76
49. ferences Account Select Account to sort the Transaction List by ascending or descending account numbers Description If a Description has been recorded when inputting a transaction it will display in this column Units Select Units to sort the Transaction List by ascending or descending unit numbers Debit The Debit amount of a transaction will display in this column Credit The Credit amount of a transaction will display in this column Page 42 BGL Corporate Solutions Pty Ltd 2015 Si mp e j UN q 50 U SF360 Training Manual Professional Edition Transaction Types The following transaction types can be input in Simple Fund 360 Bank Statement Journal Depreciation Corporate Action How to record a Bank Statement Transactions recorded as a bank statement will post a double sided entry to the Transaction List with one side of the transaction recorded to the fund s bank account Single sided bank statements cannot be added to the Transaction List in Simple Fund 360 1 From the Transaction List screen select New Transaction From the drop down list select Bank Statement Input the date of the transaction and a reference number Simple Fund 360 will automatically produce a reference number but it is editable You can include a description of the transaction in the Description box Under the Account heading select the bank account from the Select an account box For Simple Fund 360 to automatically select
50. for you to match Transactions can be e Automatically matched Bank statement transactions which Simple Fund 360 can reconcile will be matched automatically for you e Suggested matches Bank statement transactions that cannot be instantly reconciled will be matched by Simple Fund 360 for you to review as suggested matches You can then accept the suggestion and match the transactions e Manually matched Any remaining unmatched transactions can be reconciled and coded by you To match a transaction from the Main Toolbar go to Accounting select Transaction matching from the list and select Unmatched 10 Suggested Unmatched Transaction List The page is divided into two sections e on the left you have the outstanding entries that were uploaded from the Bank Data Service that are yet to be allocated or coded Page 72 BGL Corporate Solutions Pty Ltd 2015 SimpleFund 360 sresorraning Mana Protester ation e onthe right you have the matching criteria This is where you can allocate the transaction to an account and input any additional information if required Once you have allocated the account and input more details if applicable to the transaction select the match check box This will activate the Match icon for you to confirm the allocation To confirm and match the transaction select Match Account 123456789 Suggestion New Transaction Search Comment fF Plus iaai ANZ V2 Plus Account 30100 Accountancy Fees
51. he check box for each note you wish to include in the financial statements Notes are automatically numbered by SF 360 8 Upload Your Logo On the right hand side of the screen select Upload Logo to add a firm logo to all documents and reports Upload your firm logo from its stored location on your computer BGL Corporate Solutions Pty Ltd 2015 Page 19 O Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Copy Badge Defaults From You can choose to use settings from an existing badge Click on the drop down list to select an badge Attach Funds On the right hand side of the screen select Attach Funds to add or remove fund s to the Badge Default Relationships You can add the following default relationships of fund s attached to the Badge e Fund Contact e Fund Tax Agent e Fund Auditor e Fund Advisor Once you have finished inputting all badge information click Save Page 20 BGL Corporate Solutions Pty Ltd 2015 O Si m p e B UN q 5 60 SF360 Training Manual Professional Edition Task 2 2 Quick Fund Setup Objective There are three methods to add a fund to Simple Fund 360 In Simple Fund 360 you will be able to e Establish a new SMSF which will create and prepopulate all supporting documentation Coming Soon e Migrate your SMSF from Simple Fund to Simple Fund 360 e Use Quick Fund Setup This task will take you through how to add a fund using the Quick Fund Setup method Detail
52. his section explains how to prepare your SMSF for year end reporting 2015 BGL Corporate Solutions Pty Ltd This Training Manual has been prepared by BGL Corporate Solutions Pty Ltd for users of Simple Fund 360 Every effort has been made to ensure the accuracy and completeness of this Manual However the software author or supplier cannot be held liable for any errors or omissions and this Manual should not be relied upon as a detailed specification of the system In addition the software author and supplier reserve the right to issue revisions enhancements and improvements to the software at any time without notice This Manual forms part of the cloud software which is subject to a Cloud Software Subscription Agreement It therefore remains the property of the software author and supplier and is subject to copyright and trade secrets protection It must not be copied disposed of distributed or otherwise be made available to any person other than employees of the authorised Simple Fund 360 client without the prior consent of the software author and supplier BGL Corporate Solutions Pty Ltd 2015 Page 3 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Lesson 1 Simple Fund 360 Administration This lesson will provide an overview of Simple Fund 360 and will explain how to get the most out of the software and documentation Lesson overview e Task 1 1 Sign into Simple Fund 360 e Task 1 2 Navigation and Help
53. il Page 78 BGL Corporate Solutions Pty Ltd 2015 Si m p e F UN q 5 60 SF360 Training Manual Professional Edition The following message will display on post Would you like to create a rule that will auto match similar future transactions By selecting Yes Simple Fund 360 will create a Data Import Rule and will automatically code this transaction if it reoccurs Select No Task 4 2 5 Buy and Sell transactions The BGL Training Fund has been set up to use the Contract Note Service to process transactions automatically for all listed ASX investments refer back to Task 3 2 on how to setup the Share Data Pack Once a trade has been settled and a contract note has been sent to the funds unique email address the Contract Note Service will process the buy or sell overnight and upload the transaction data without any user interaction In addition to this you have the ability to re request transaction data for any given period using the re request function In this task we will be using the re request function to import a buy and a sell transaction The contract notes were forwarded to the unique email address prior to the set up of the Contract Note Service If a fund has not been set up to use the Share Data Pack but automates bank data refer to Transaction Matching for Unitised Investments help Investment Disposal details On the 1st of July the BGL Training Fund sold 2000 BHP Billiton Limited Ordinary Fully Paid
54. ill now display Amount Input a debit amount of 3360 000 00 Page 50 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao anna Mana Proessona son Record the purchase of CBA Shares Select an account Add New Account Select Create Investment Select 7vesiment Investment Type Select Shares in Listed Companies Australan Securities Select CBA ANX Investment Code Field will automatically populate based on the security code selected Name Field will automatically populate based on the security code selected New Investment Account Account Class sub Account Investment Type Shares in Listed Companies Australian Securities CBA AX Commonwealth Bank Of Au Attach to all funds Select Funds w 15elected Inactive Account Code Investment Code 77600 i CBAAX Name Commonwealth Bank Of Australia Select an account Select 77600 CBA AX Units Input 400 Amount Input a debit amount of 379 976 00 More details Click MORE to input purchase details BGL Corporate Solutions Pty Ltd 2015 Page 51 oO SimpleFund 360 SF360 Training Manual Professional Edition Contract date Settlement Date Input purchase date 27 70 2070 Input settlement date 24 70 2070 Record the purchase of BHP Shares at the respective parcel dates for CGT purposes Select Select an account Units Amount More details Contract date Settlement Date Select Select an account Units Amount
55. imple Fund 360 You have the ability to fully automate the flow of bank data from all major banks directly into Simple Fund 360 The Bank Data Service will provide you with the following benefits e A reduction in manual data entry e Increased accuracy in transaction matching e Improvements in workflow and productivity e Proactive compliance and tax planning opportunities For a list of all supported banks please refer to the Simple Fund 360 Help Supported Banks Bank Feed Setup From the Main Toolbar go to Connect Select Manage data feeds from the list Under the Banks section select Get Started Get Started From the Bank Feed Management dashboard you can subscribe to and set up the BGL Bank Data Service You will need complete the following steps for each fund 1 Input bank account details into Simple Fund 360 2 Complete the Automated Data Feed section prepare Authority Forms 3 Confirmation 4 Begin automating your Bank Data Step 1 Input the Fund s Bank Account Details into Simple Fund 360 First the fund s bank account s need to be reviewed or added to Simple Fund 360 Fund Chart of Accounts For help click here Page 64 BGL Corporate Solutions Pty Ltd 2015 SimpleFund 360 sesso taing Mana Protessiorai Eatin 1 Under the Actions column select Setup Bank Feed ACTIONS Setup Bank Feed 0 2 Input your Bank Account details Account Name John And Mary Jones ATF BGL Traini
56. ing Select the New Transaction NEW TRANSACTION Select Journal Bank Statement Journal Ders eciation Corporate Action BGL Corporate Solutions Pty Ltd 2015 Page 57 SimpleFund 360 Date Reference Description Select an account Amount More Details Panel Select an account Amount Add Line Select an account SF360 Training Manual Professional Edition Input 30 06 2073 Input 3 Input Fund Liabilities Select Account 85000 Income Tax Payable Input a credit amount of 8 555 00 Select set Financial Year to 2012 13 Select Account 89000 Deferred Tax Liability Input a credit amount of 3000 00 M Ae Select Account 94920 Member Data Clearing Account Amount Input a debit amount of 73 555 00 ACi Units Debit Credit 85000 Income Tax Payable Refundable 8 555 00 MORE Liability i 89000 Deferred Tax Liability Asset 5 000 00 Liability d 94920 Member Data Clearing Account 13 555 00 Unallocated Once your balancing entry has been entered save the transaction by selecting Post For training purposes we have utilised Account 94920 Member Data Clearing Account However when setting up a fund you will not be required to post to Account 94920 It is recommended to enter all components of the balance sheet in a single journal Page 58 BGL Corporate Solutions Pty Ltd 2015 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Task 2 7 Input the Operating S
57. inue Select Ok Revaluations for investments will be done daily or during create entries process as this transaction relates to opening balances you will need to confirm the message Account Units Debit Credit 23800 GPT AX Gpt Group Stapled Securities Fully Paid 3 500 00 Income Distributions Received e 23900 BHP AX Bhp Billiton Limited Ordinary Fully Paid 2 200 00 Income Dividends Received i o 24700 Changes in Market Values of Investments 52 553 00 Income is 30100 Accountancy Fees 1 200 00 Expense g m 25000 WPTD Westpac Term Deposit 4 800 00 MORE Income Interest Received i m 24200 JJones Contributions Jones John Accumulation Accumulation John Jo 27 500 00 MORE Income Member Contributions i 24200 MJones Contributions Jones Mary Accumulation Accumulation Mary Jo 8 000 00 MORE Income Member Contributions n 48500 Income Tax Expense 42 634 00 Allocation s 49000 Profit Loss Allocation Account 54 719 00 Allocation m Operating statement can now be referenced to Appendix E Detailed Operating Statement BGL Corporate Solutions Pty Ltd 2015 Page 61 SimpleFund 360 sposo taning manu Professions Eto Task 2 8 Update Ledger to Current Year
58. ionship Fund Export Provides a dashboard that helps to deliver a quick performance snapshot Access to the details of the fund including reporting options and contact details Allow quick and convenient access to identify and edit contacts of a fund Create an Export of the Fund Data Members Fund must be selected Members List Contribution Dashboard Pension Dashboard Fund Pension Policies Track current member balances add new members and edit existing members This dashboard will provide real time information on members contributions This dashboard will provide real time information on a members pension account From this page you will be able to request an Acturial Certificate and input the fund s pension policies Accounting Fund must be selected Chart of Accounts Transaction List Transaction Matching The Chart of Accounts page is a list of the accounts used by Simple Fund 360 This screen is where all transactions will be entered From this screen you will be able to automate data entry through transaction matching rules BGL Corporate Solutions Pty Ltd 2015 Page 7 S imp erun q ote U SF360 Training Manual Professional Edition Investment Fund must be selected Investment In this screen select and review all live reports as required Report Investment This screen will display all listed securities and pricing information Security List Investment A dashboard will be available sh
59. its Input 79 Amount Input a debit amount of 7292 00 Dividend Input a credit amount to account 23900 BHP AX for 7349 92 Select the More Details Amount panel to review franking credits BGL Corporate Solutions Pty Ltd 2015 Page 87 SimpleFund 360 SF360 Training Manual Professional Edition Residual Input a debit amount to account 62500 for 37 92 Account Units Debit Credit 77600 BHP AX BHP Billiton Limited 19 000000 1 292 00 x Ww Investment Shares in Listed Companies Australian 23900 BHP AX Bhp Billiton Limited Ordinary Fully Paid 23900 BHP AX 1 349 92 Income Dividends Received i 62500 Dividend Reinvestment Residual Account 62500 57 92 x v Asset Page 88 BGL Corporate Solutions Pty Ltd 2015 C SimpleFund 360 Task 4 5 Return of Capital SF360 Training Manual Professional Edition Objective In this lesson you will learn how to record return of capital transactions A return of capital is where the value of shares is decreased due to a capital return and the number of shares remains the same Details Date 26 04 2014 Reference 182 Security 78200 GPT AX Units 0 Amount 2500 00 Instructions From the Main Toolbar go to Accounting Select Transaction list from the list Select New Transaction Select Bank Statement BGL Corporate Solutions Pty Ltd 2015 wis Gee ACC CUNT EAS Accounting Chart of accounts Transaction list Transaction matching
60. llows you to easily identify and manage all contacts that are related to a fund at one glance From the Relationships screen you can e View and edit existing contacts e Add new contacts e Remove contacts Instructions From the Main Toolbar go to Fund Select Fund relationships from the list FUNDO Fund Fund dashboard Fund details Fund relationships Fund export Simple Fund 360 Contacts already added will appear under the Contacts List If a Contact does not yet exist in the Contacts screen simply select Add New Company or Add New Person a new tab will open and allow you to add them to the contact list Page 28 BGL Corporate Solutions Pty Ltd 2015 SimpleFund 360 sposo taning manu Protests zation 1 Drag amp Drop the Contact from the Contact List to the Relationship Group Accountant slit DRAG amp DROP PEOPLE HERE DELETE Smith Jones and Associates 2 Repeat this step for the remaining Fund Relationships Accountant 2 Auditor 92 amp DELETE DELETE DRAG amp DROP PEOPLE HERE DRAG amp DROP PEOPLE HERE Fund Contact s amp Tax Agent sit Trustee 92e DELETE DELETE DELETE DRAG amp DROP PEOPLE HERE DRAG amp DROP PEOPLE HERE DRAG amp DROP PEOPLE HERE BGL Corporate Solutions Pty Ltd 2015 Page 29 Si m p e J UN q 5 60 SF360 Training Manual Professional Edition Task 2 4 Add SMSF Members Objective In this task you will learn how to create the member accounts B
61. n Shortcut Action Ctrl Shift Add to the list Esc Cancel out of a new transaction without saving View multiple pages View multiple pages in Simple Fund 360 at the same time by using tabbed browsing There are three main ways to open a link in a new tab Hold down Ctrl Left Click on the link Right click on a link and select open a new tab Ctrl T to open a new tab Right click on the main menu in Simple Fund 360 to open a new tab A O N Acceptable date formats When entering transactions the following formats are valid in the Transaction List e DDMMYY e DDMMYYYY e DD MM YY e DD MM YYYY Example 2nd July 2014 can be entered as e 020714 e 02072014 e 02 07 14 e 02 07 2014 Browser Zooming e In order to zoom in press control Windows or command Mac with the key e To zoom out press control Windows or command Mac with the key e To restore zoom to 100 select control Windows or command Mac an d 0 Fund Favourites From Fund Selection select the w to the left of the Fund Code as this will add the fund to the favourites list To filter on your favourite funds from the Fund Selection screen select Favourites FAVOURITES H SHOW ALL Page 10 BGL Corporate Solutions Pty Ltd 2015 O SimpleFund 360 SF360 Training Manual Professional Edition Task 1 3 Invite User User Roles and Reset Passwords In this task you will learn e How to invite users e How to manage user role se
62. n Manage your firms notification settings Lodging Create or manage all lodging parties these credentials will be used to electronically lodge Party ATO compliance forms Task 1 2 3 Simple Fund 360 Conventions One of the main objectives of Simple Fund 360 is to enable superannuation data to be entered as quickly as possible The following design features are just some of the ways Simple Fund 360 speeds up the data entry process 1 Within all transaction screens you are able to skip to the next field using the 7abkey 2 When entering cash payments or receipts Simple Fund 360 will automatically post the bank entry to the selected bank account 3 Use the standard windows shortcut keys Cut Ctrl X Copy Ctrl C and Paste Ctrl V to move data amongst fields MAC users can use standard Mac shortcut keys Cut Cmd X Copy Cmd C and Paste Cmd V 4 You can right click on your mouse in any screen to view a menu of options Date entry shortcuts Simple Fund 360 has its own shortcut keys should you prefer to use the keyboard rather than the mouse Some common shortcut keys used throughout Simple Fund 360 are as follows Shortcut Action Ctr Shift Z Create a new line item in the transaction screen Ctr Enter Post a transaction Ctrl Shift Enter Post current transaction and add another transaction BGL Corporate Solutions Pty Ltd 2015 Page 9 Si m p C 5 UN q 5 60 SF360 Training Manual Professional Editio
63. n is created BGL Corporate Solutions Pty Ltd 2015 Page 99 Si m p C 5 U na 5 60 SF360 Training Manual Professional Edition Task 5 4 Fund Pension Policies Objective Actuarial certificates can be externally sourced or automatically requested within Simple Fund 360 By the end of this task you will be able to manually input the actuarial percentage To automatically request a actuarial certificate through Simple Fund 360 from Act2 or Accurium refer to Simple Fund Help Fund Pension Policies Details The BGL Training Fund has received an Actuarial Certificate with an actuarial percentage of 45 this will need to be manually entered into Simple Fund 360 Instructions From the Main Toolbar go to Member m w Da Ss ME MEEF Select Fund pension policies from the list Member Member list Contribution dashboard Pension dashboard Fund pension policies Select New Actuarial Certificate New Actuarial Certificate 1 From the drop down menu select Manually Enter Details Ensure the fund s current financial year is set to 2013 14 Page 100 BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 sposo taning manu Protest Eto Requesting an Actuarial Certificate Simple Fund 360 allows you to request an actuarial certificate automatically from one ofthe actuary providers without having to manually enter any data You will receive an estimated actuarial percentage allowing
64. n matching On the 03 10 2013 and 03 042014 you will find both dividend payments have been automatically matched BGL Corporate Solutions Pty Ltd 2015 Page 75 O Si m p e 5 U na 5 60 SF360 Training Manual Professional Edition Dividend Details EDENES Cash Distribution Tax Paid Offset Franking Credits Dividend Franked 732 00 713 71 Dividend Untranked 0 00 Foreign Income Tax Offset The dividend details can be reviewed by editing the transaction and selecting the More icon Task 4 2 3 Accountancy Fees On the 12th of December the BGL Training Fund paid an annual accounting fee of 1106 88 By the end of this task you will be able to process an accounting expense Transaction Details Date 12 12 2013 Accounting Fee 1106 88 Account 30100 Accountancy Fees Instructions From the Main Toolbar go to Accounting ACCOUNTIHS Select Transaction matching from the list Accounting Chart of accounts Transaction list Transaction matching Account Search for Account 30100 Accountancy Fees Match Tick the check box and select Match Page 76 BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 sesso raring manual Protessionat ston Account 123456789 Suggestion New Transaction Search Comment eo Account 30100 Accountancy Fees v New Rule Jw Fees DR 1106 88 CR Coo CR 1 106 88 Description The following message will display on post Message Would you like to create a rule th
65. ng Fund BSB 012 012 Bank Account Number 123456789 BANK ACCOUNT DETAILS Chart Code 60400 ANZV2 ANZ V2 Plus Account Name John and Mary Jones ATF BGL Training Fund BSB 012 012 Bank Account Number 123456789 Bank Australia amp New Zealand Banking Group Limited ANZ E Trade Support Branch 6 75 Dorcas Street South Melbourne VIC 32705 Step 2 Automated Data Feed 1 Under the Automated Data Feed section select BGL Bank Data Service as the Feed Provider 2 Select Print Form Simple Fund 360 will now populate the Authority Form which the fund s trustee s must sign A BGL Signing Guide can be prepared by selecting Print Letter 3 Signed Authority form will need to be sent to BGL Data Services Reply Paid 88518 NORTH ROAD VIC 3187 No postage stamp is required Step 3 Confirmation BGL will keep you updated in regards to the status of the Bank Feed via the Feed Status column BGL Corporate Solutions Pty Ltd 2015 Page 65 QO SimpleFund 360 sposo Tramino nana Protssions Eon Step 4 Begin Automating Your Bank Data Once the bank authority form has been approved transactions will automatically be uploaded overnight into the Fund without any user interaction The Feed Status will change to Feed Operating within Simple Fund 360 Page 66 BGL Corporate Solutions Pty Ltd 2015 Si m p e J UN q 5 60 SF360 Training Manual Professional Edition The BGL Contract Note Service will provide data for buy an
66. ntries Period heading input the full financial year of the fund Create Entries Period End Date 30 06 2014 Start Date Oroz 2013 Create Entries i NO Display Member Allocation Worksheet 2 Now select Create Entries 3 The Create Entries will appear in the Create Entries table below CREATE ENTRIES DATES FINANCIALYEAR CREATED BY CREATED DATE FINANCIAL YEAR STATUS Open 08 08 2014 Training Victoria 01 07 2013 30 06 2014 2014 4 To open the Create Entries Report select the Print icon under Action Print Reverse Entries BGL Corporate Solutions Pty Ltd 2015 Page 105 Q SimpleFund 360 ___sracorrarng nara Protessions Eon Note You are able to undo the create entries process by selecting Reverse Entries under the Actions column Page 106 BGL Corporate Solutions Pty Ltd 2015 Si m p e H UN d 5 60 SF360 Training Manual Professional Edition Task 6 2 Prepare Report Packs Objective In this task you will learn how to prepare and print year end reports using Simple Fund 360 By the end of this task you will be able to e set up customised reporting options for financial reports e prepare various member reports e prepare various investment reports e prepare trustee minutes or resolutions Financial Reports in Simple Fund 360 The Reports screen prepares a full set of financial statements investment reports member reports ledger reports and other documents for superann
67. ocation that you will be able to access Step 3 Uploading the template into Simple Fund 360 From the Add Custom Report screen input the Report Name for example WelcomeLetter ADD CUSTOM REPORT Report Name WelcomeLetter Select Browse and navigate to the customised docx file BGL Corporate Solutions Pty Ltd 2015 Page 113 SimpleFund 360 Upload Your Template Upload a new template or replace the old template ho Q W a h Upload Doc SF360 Training Manual Professional Edition Once you have chosen the customised letter select the Upload Doc button The customised letter has been uploaded and can be selected from the Reports screen Page 114 BGL Corporate Solutions Pty Ltd 2015 Si m p e 5 UN q 5 60 SF360 Training Manual Professional Edition Task 6 4 Fund Dashboard Objective The Fund Dashboard is the home landing page for each fund providing you with a complete snapshot of the fund s position The Fund Dashboard allows you to review any unmatched transactions enter new transactions update the Fund Details and set up bank feeds From the Fund Dashboard you can easily connect the fund s Trustees Auditors or grant access to the BGL Support Team to assist you with any queries you may have in Simple Fund 360 Navigation From the Main Toolbar go to Fund Select Fund dashboard from the list Fund Fund dashboard Fund details Fund relationships Fund export
68. of the Main Toolbar and Tabs Simple Fund 360 Conventions Task 1 2 1 Getting Help To access Simple Fund 360 Help and documentation from the upper menu select Help What would you like help with Enter key words in the search field to find the appropriate help file or search the menu on the left hand side Alternatively you can contact BGL Support through the BGL Client Centre or telephoning 1300 654 401 Task 1 2 2 Main Toolbar and Tabs The Main Toolbar or Tab options may not display if your user role restricts your access to these areas An overview on the Main Toolbar and Tab functions are outlined below Home Fund Selection The Fund Selection page will allow users to view or select funds Getting Started This page is used to help you navigate the menus and tabs in Simple Fund 360 Quick Fund Setup The quick setup screen will allow the user to input the core details of the fund Page 6 BGL Corporate Solutions Pty Ltd 2015 C A W p a Connect Manage Data Feeds SuperStream Connections Lodgement ZAN SF360 Training Manual Professional Edition Manage or setup data feeds used by a fund or firm From this screen you are able to register funds to comply with SuperStream Choose which application you would like to connect or disconnect with Simple Fund 360 Manage tax lodgement for the SMSF annual return and schedules Fund Fund must be selected Fund Dashboard Fund Details Fund Relat
69. om the list Connect Les So ate Fe l ae Manage data feeds Superstream Under the Share Data Packs section select Start Using Step 1 Setup Contract Notes From the Share Data Pack Management dashboard under the Actions column for the selected fund click Setup Contract Notes Step 2 Add Supported Brokers for the fund Select the broker s used within the fund from the list You will need to have at least one broker Click Add Broker to add multiple brokers Select ETRADE and CommSec Next Select For a list of supported brokers click here Page 68 BGL Corporate Solutions Pty Ltd 2015 Si m p i e H UN q 5 60 SF360 Training Manual Professional Edition Step 3 Forward all emails and enter a E trade Password An optional step is available that will allow users to input email addresses so the Contract Note Service can then forward all broker emails received to a client or 3rd party If the SMSF is using ETRADE as one of the supported brokers the E trade password will need to be entered which normally takes the form of the User ID For training purposes ignore both fields and select swe The unique email address will be created For example SF3607raining bg notes com au Step 4 Broker Notification To notify supported brokers of the fund s unique email address refer to the Share Data Pack help From this page you can download detailed instructions on how to notify brokers of a fund s unique email ad
70. on BGL Corporate Solutions Pty Ltd 2015 Page 109 oO SimpleFund 360 SF360 Training Manual Professional Edition Screen Features Screen Feature Select Report Pack Delete Report Pack Clear Reporting Dates Start Date End Date Badges Options Settings Download Excel Download Word Download PDF Page 110 Explanation Select an existing Report Pack from the drop down list below Select Delete Report Pack to delete the selected Report Pack Select Clear to remove all the currently selected reports Filter the financial period that the Report Pack will display The following options are available e Current Financial Year e Previous Financial year e Current Quarter e Previous Quarter e Custom Dates To input Custom Dates use the Start Date and End Date fields Select the Calendar to input the Start Date of the period Select the Calendar to input the End Date of the period The fund s Badge will appear Select Add New Badge from the drop down list to create a new Badge in Simple Fund 360 Select Use Default Badge to use the default Badge settings for the Report Pack Select for a list of settings and download options available for the report Select for a list of report options and settings available for the report The list of settings changes depending on the report selected Select Download Excel to download the Report Pack to Excel Select Download Word to download the Repor
71. on Matching page you will notice any buy or sell transactions that cannot be automatically matched by Simple Fund 360 will appear under the suggested match heading The Disposal Method for any sell transaction by default will be set to Most Tax Effective To match the transaction tick the check box and select Match Suggestion New Transaction Account 123456789 04 07 2013 ANZ V2 Plus Description S 2000 BHP More Detai New Rule v CR 60 000 00 Units 2 000 00000C Sell 2000 Units BHP Account 77600 BHP_AX Simple Fund 360 will now match the transaction against the Bank Data that was previously uploaded Page 82 BGL Corporate Solutions Pty Ltd 2015 O SimpleFund 360 Task 4 3 Tax Payments Objective SF360 Training Manual Professional Edition An ATO Notice of Assessment was received for the BGL Training Fund The original assessment of 8 555 00 has decreased to 8 000 00 By the end of this task you will be able to e Record an under or over provision of income tax payable e Record the income tax payment e Record the payment of the Supervisory Levy Details Transaction Details Account 30400 ATO Supervisory Levy 85000 Income Tax Payable 48600 Prior Years Under Over Provision for Income Tax 60400 Cash at Bank BGL Corporate Solutions Pty Ltd 2015 Amount DR 321 00 Dr 8 555 00 Cr 555 00 Cr 8 321 00 Page 83 Si m p e 5 U na 5 60 SF360 Training Manual Professional Edition Inst
72. orting The tasks will cover how to prepare report packs custom letters and how to prepare your SMSF for the next financial year Lesson overview e Task 6 1 Create Entries Process e Task 6 2 Prepare Report Packs e Task 6 3 Customise a Letter e Task 6 4 Fund Dashboard e Task 6 5 Close Financial Year BGL Corporate Solutions Pty Ltd 2015 Page 103 Si m p e r UN d 5 6 0 SF360 Training Manual Professional Edition Task 6 1 Create Entries Process Objective In this task you will learn how to create year end entries By the end of this task you will be able to e create year end entries e reverse year end entries e identify journals recorded by the create entries process e understand how Simple Fund 360 calculates and allocates profit tax and members balances The Create Entries Process in Simple Fund 360 The create entries process is split into the following functions e Automatic Daily Journals e Year End Create Entries Automatic Daily Journals Automatic Daily Journals are calculated by Simple Fund 360 on a daily basis and will complete the following automatically e Investment Revaluation journals With the integration of BGL s ASX and UUT Automated Data Feed into Simple Fund 360 automatic investment revaluations are conducted on a daily basis This will allow Simple Fund 360 to calculate the daily changes in market values of investments which provides you access to real time investment information e Membe
73. owing a quick performance snapshot Dashboards Investment Dashboard that allows users to input a fund s investment strategy Strategy Corporate Actions From this screen you will be able to process a bonus issue share split share consolidation or demerger Compliance Period From this page you will be able to process final closing entries Compliance Tax To provide users with the ability to view and edit the ATO compliance forms Tax return Compliance Schedules BAS Reports Reports The Reports Screen will allow users to view and build reports Live Reports In this screen select and review all intelligent reports as required Documents The Documents Screen will allow users to upload view and digitally sign documents Page 8 BGL Corporate Solutions Pty Ltd 2015 RIIMMIAFELIING ZAN 5 dlls ple UI q 90U SF360 Training Manual Professional Edition Settings Badge The badge screen will allow users to customise the interface and reports of SF360 User List The user list will allow administrators to manage all users that have been invited to Simple Fund 360 User Roles From this page you will be able to manage and create user permissions for Simple Fund 360 Contacts From this page view relevant information regarding the people companies or trusts linked to your firm Email The email template screen will allow users to view and edit email templates that Simple Template Fund 360 will forward to your contacts Notificatio
74. p 1 Target Funds Select the fund s to apply this new rule Select Apply to all funds to make a global rule or select specific funds from the Select Funds drop down list This will be a fund specific rule Do Not tick apply to all funds 1 Target Funds Apply to all funds Select Funds w 0 selected Step 2 Apply rule to Bank Accounts In Simple Fund 360 you have the ability to apply rules to selected bank accounts or all bank accounts Selecting Apply to all bank accounts will apply the rule to all bank accounts Apply to all bank accounts Step 3 When bank transactions match All or Any of the following conditions Choose to apply all or any of the following conditions to determine the criteria required for transactions to match the new rule You can create and specify the following conditions Note Change the Match Condition to Contains Criteria Explanation Description If an unmatched transaction s description matches all or some of the description value input for the rule code this unmatched transaction to the matching criteria selected in step 4 below Amount If a transaction s amount is equal to in range less or greater than the specified value code this unmatched transaction to the matching criteria selected in step 4 below Reference _ If atransaction s reference number is or contains the specified reference value input code Ref this unmatched transaction to the matching criteria selected in step 4 below
75. password On the first login the user can enter a new password and click Update to activate the new password Page 12 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 srao trainns Mana Pees eon Navigation to the User Roles screen From the Main Toolbar go to Settings SETTINGS Select User roles from the list Settings Setting User Roles User Role Settings are provided to Users when they are invited to Simple Fund 360 These settings determine what the Users can access within Simple Fund 360 How to Manage User Role Settings Select Add New User Role to create a new role or you can edit an existing User Role by clicking the Edit button under the Action column for the particular user Adding a New User 1 Select Add New User Role 2 Enter the name of the new User Role up to twenty characters Click Save 3 The new User Role will now appear in the User Roles list Click the Edit button under the Action column to edit the access settings for the new User Role 4 To edit the settings of the user for each option available select On or Off under the Role Options column for each option For Email Settings select the frequency for each email by selecting the drop down arrow and choosing from the list below 5 Once you have finished editing the options select Save to keep the settings or Cancel to abort the changes BGL Corporate Solutions Pty Ltd 2015 Page 13 How to Reset the User Password if required
76. r Allocation journals Income and expense transactions are allocated to members on a daily basis This will allow Simple Fund 360 to calculate the daily profit loss that is attributable to each member of the fund and provide you with real time member balances Year End Create Entries This needs to be activated by the Simple Fund 360 user at year end and will Finalise profit allocation to members and determine year end balances at 30 June Finalise investment revaluations at 30 June Calculate PDIT FITB If the fund is applying Tax Effect Accounting Offset any foreign TFN and franking credits against Income Tax Payable Determine the net capital gain Calculate Income Tax Payable 0O O A W N Page 104 BGL Corporate Solutions Pty Ltd 2015 SimpleFund 360 sposo taning manu Professions Eto 7 Calculate the fund s Exempt Current Pension Income and non deductible expenses 8 Calculate and populate the figures in the SMSF Annual Return and the ATO Schedules For more information on the tax calculations performed refer to the Simple Fund vs Simple Fund 360 help Instructions For the BGL Training Fund we are going to finalise the 2013 2014 financial year and create entries for the entire year From the Main Toolbar go to Compliance eee Select Period compliance from the list Compliance Period compliance Tax compliance Follow these steps to complete the year end Create Entries 1 Under the Create E
77. ructions From the Main Toolbar go to Accounting _ a ACCOUNTING Select Transaction list from the list Accounting Chart of accounts T ra r aat r hak a Transaction list ransaction matching Select New Transaction NEW TRANSACTION Select Bank Statement Bank Statement Journal T Depreciation Corporate Action From the Transaction List you can now record the Income Tax Payment Date Input 2701 2014 Reference Input 33 Description Input come Tax Payment Select an account Select Account 85000 Income Tax Payable Amount Input a debit amount of 8 321 00 More details Click EEE to open the more details panel Tax Instalment Details Set the financial year to 2072 73 SMSF Supervisory Levy This will automatically set to 321 00 based on the financial year Under over provision for Income Tax Input 555 00 Page 84 BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 sposo tanin manu Protests Eto Tax Instalment Detalls ENN Financial Year 2012 13 T Tax Refunded Paid 8 000 00 SMSF Supervisory Levy 321 00 Under Over Provision for Income Tax 555 00 3 555 00 8 321 00 Total Tax Allocated Total Paid Select Post to save the transaction Simple Fund 360 will now post the following transactions Account Amount 30400 ATO Supervisory Levy Dr 321 00 85000 Income Tax Payable Dr 8 555 00 60400 Cash at Bank Cr 8 321 00 48600 Under over provision for Income Tax Cr 555 00 BGL
78. s Quick Fund Setup Wizard The 2012 Financial Statement and other supporting schedules for the BGL Training Fund are detailed in the Appendices Instructions Creating a New Fund From the Main Toolbar go to Home l A HOME Select Quick fund setup from the list Hane c tion Fund selectio Setting started Quick fund setup BGL Corporate Solutions Pty Ltd 2015 Page 21 Si mp e H UN q 50 U SF360 Training Manual Professional Edition Input the Fund Details Select Badge Set to Default Badge Fund Name Input BGL Training Fund Fund Code Input a unique fund code ABN Input your fund s ABN TFN Input your fund s TFN Date Formed Input 74 06 7994 Financial Year Input 74 06 7994 30 06 2073 System Start Date Input 07 07 2073 System Start Date The System Start Date is the start of the first active financial year the fund will be processed in Simple Fund 360 The System Start Date will automatically trigger daily Investment Revaluation and Member Allocation Journals from this date going forward Page 22 BGL Corporate Solutions Pty Ltd 2015 Q SimpleFund 360 srao raning vanua Presson son Quick Fund Setup About this screen In this screen you can quickly setup a new fund Mandatory fields are marked with an asterisk Select Badge Edit Badge Fund Name Fund Code Default Badge BGL Training Fund SF360 ABN TFN Fund Type SMSF Date Formed Financial Year 14 06 1994 14 06
79. s ATF BGL Training Fund 0 00 Asset Bank Bank Accounts Default Bank 23900 BHP AX Bhp Billiton Limited Ordinary Fully Paid MORE Income Dividends Received The More Details Panel is characterised by the account selected The panel is responsive to the account you select allowing you to input additional transaction information when required For example when entering a dividend account and selecting the More Details Panel Simple Fund 360 will display a Dividend Details panel where you can now enter the tax data that relates to that specific dividend BGL Corporate Solutions Pty Ltd 2015 Page 39 SimpleFund 360 sfaso taining tan Petsson tton Dividend Details EE Cash Distribution Tax Paid Offset Franking Credits Dmid end Franked 100 00 42 B6 Umidend Unfranked o oo Foreign Income Tax Offset Assessable Foreign Source Income Australian Franking Credits from a New Zealand Company Net Payment 100 00 42 86 This feature eliminates the need for you to access different screens for different transactions greatly improving the efficiency of transaction input Navigation From the Main Toolbar go to Accounting imei ACCOUNTING Select Transaction list from the list Accounting Chart of accounts Transaction list Transaction matching Page 40 BGL Corporate Solutions Pty Ltd 2015 C SimpleFund 360 SF360 Training Manual Professional Edition Screen Buttons Screen Functions New
80. t Pack to Word Select Download PDF to download the Report Pack as a PDF Type in a report name to search for that report in the report list below BGL Corporate Solutions Pty Ltd 2015 O Si m p e F UN q 5 6 0 SF360 Training Manual Professional Edition Search for a Report Drag amp Drop Select a report s from the Financial Reports Letters Minutes and Work Paper Reports your Lists Click on the report and drag it from the List and drop it in the Drag amp Drop field to Reports here add itto the Report Pack Custom Select Custom Reports to create or select your custom reports in Simple Fund 360 Reports Financial Select Financial Reports to open the list of financial reports available in Simple Fund 360 Reports Investment Select Investment Reports to open the list of Investment Reports available in Simple Reports Fund 360 Letters Select Letters Minutes to open the list of letters and minutes available in Simple Fund Minutes 360 Work Paper Select Work Paper Reports to open the list of working papers available in Simple Fund Reports 360 Audit Select Audit Reports to open the list of Audit Reports available in Simple Fund 360 Reports Save New Select Save New Report Pack to save a new Report Pack Report Pack Select Save Pack Changes to save any changes made to an existing Report Pack Download Select Download Report Pack to prepare your customised Report Pack Report Pack BGL Corporate Solutions Pty Ltd 2015 P
81. tatement Objective In this task you will learn how to input the Operating Statement for comparative purposes This step is optional based on whether you wish to report this year s profit and loss statement with comparative balances from the previous year By the end of this task you will be able to e Record dividend and distribution transactions with taxable components e Record expenses e Record income tax expense when setting up a fund e Record profit allocation Instructions In this task you will learn how to input Operating Statement items as at 30 06 2013 You will be using Journals to enter the Operating Statement items From the Main Toolbar go to Accounting Maai ACCOUNTING Select Transaction list from the list a Accounting Chart of accounts T or a 7 Eh i I A il l F a4 i yl li i ee Pas T rare artim reostekrhine Transaction matching Select the New Transaction NEW TRANSACTION Select Journal Bank Statement Journal ey Corporate Action BGL Corporate Solutions Pty Ltd 2015 Page 59 S LLL p i erun q 9 O U SF360 Training Manual Professional Edition Note The investment income and expense accounts have been automatically created This occurred when the investment accounts were created Date Input 30 06 2073 Reference Input 6 Description Operating Statement Select an account Select Account 23800U GPT Amount Input a credit amount of 3500 00 More Details
82. this bank account by default when entering bank statement transactions tick the Default Bank check box Click on the next Select an account box Begin typing and select the other account for quick reference you can type the account name If you are recording a split transaction one or more sides of the transaction involves two or more accounts select Add Line and select the additional account Input the amount of the transaction to the other account as either a Debit or Credit The bank account fields will automatically post a corresponding entry if you post a Debit amount to the other account Simple Fund 360 will post a Credit to the bank for the same amount and vice versa After you have entered all information for the transaction select Post to add the transaction and return to the Transaction List or select Post amp Add Another to add the transaction to the Transaction List but remain on the Bank Statement screen BGL Corporate Solutions Pty Ltd 2015 Page 43 How to record a Journal A Journal transaction will post a double sided entry to the Transaction List The main difference between Bank Statement and Journal transactions is that a Bank Statement transaction requires one side of the transaction to involve a fund s bank account Single sided journal transactions cannot be added to the Transaction List in Simple Fund 360 1 From the Transaction List screen select New Transaction From the drop down list sel
83. ting To access the Chart of Accounts From the Main Toolbar go to Accounting Select Chart of Accounts from the list Accounting Chart of accounts Transaction list Transaction matching Page 38 BGL Corporate Solutions Pty Ltd 2015 Si m p e J UN q 5 60 SF360 Training Manual Professional Edition Account Classification There are three types of accounts listed in Simple Fund 360 that define the Chart of Accounts Normal Able to code directly to a normal account There is no need to break up or further classify a normal account example Account 30100 Accounting Fees Control Summary account in the Chart of Accounts used to divide or further classify accounts You Account cannot post directly to a control account but you can post to the sub accounts once they have been established example Account 60400 Bank Accounts Sub This account is used to divide or break a Control Account into more detailed categories There Account is now greater consistency in the Chart of Accounts when referencing the sub account Sub accounts are now identified using codes which usually takes the form of your ASX code example Account 77600 BHP The Transactions Screen Transaction Input in Simple Fund 360 The Transaction List in Simple Fund 360 allows for single screen data input When entering or matching bank statement entries you will notice that specific accounts will flag a More Details Panel 60400 Jones John And Mary Jone
84. ting PDIT Realised Capital This check box will be automatically ticked when Tax Effect Accounting s ticked Losses in PDIT FITB BGL Corporate Solutions Pty Ltd 2015 Page 25 na 46U SIMpPIerUNe SF360 Training Manual Professional Edition Screen Explanation Options Include This option will include unrealised capital losses in timing differences at a 10 tax rate Unrealised when calculating PDIT This option assumes losses will be applied against discounted Capital gains and is not recommended where assets are generally sold within 12 months of Losses at acquisition 15 his check box will be automatically ticked when Tax Effect Accounting is ticked Fund Tax Leave this as 15 for a Non Complying SMSF switch the fund tax rate to 45 Rate Trust Deed Upload Option Explanation Trust Deed Upload Input the Deed Source and Deed Last Modified The Trust Deed can be uploaded to the Documenis screen After adding the details click Save to store the information or Cancel to abort the change Select SMSF to open the tax return details screen SMSF View Select the SMSF View in Fund Details to populate Sections A and L for the SMSF Annual Return Section A Section A Information to Input Status of SMSF If the fund is an Australian Superannuation Fund for tax purposes select Yes Fund Benefit Structure Input whether the fund s benefit structure is e Defined Contribution e Defined Benefit e Hybrid Fund Use Tax
85. to use when posting transactions in Simple Fund 360 Lesson overview e Task 2 1 Create a Badge e Task 2 2 Quick Fund Setup e Task 2 3 Fund Details and Fund Relationships e Task 2 4 Add SMSF Members e Task 2 5 Transactions and the Chart of Accounts e Task 2 6 Input Balance Sheet Items e Task 2 7 Input the Operating Statement e Task 2 8 Update Ledger to Current Year BGL Corporate Solutions Pty Ltd 2015 Page 15 Si m p e H UN q 5 60 SF360 Training Manual Professional Edition Task 2 1 Create a Badge Badges Badges control the look and feel of Reports Dashboards and Letter Templates in Simple Fund 360 A Badge is related to a fund This relationship is displayed in e The Badge screen where a fund can be attached to a Badge e The Quick Fund Setup screen when setting up a new fund A fund can only have one Badge The following options can be edited in a Badge e The Badge Name e General Report Settings e Reporting Options e Firm Logo e Fund Relationships e Set the Revaluation Order for Managed Funds Unit Trusts and Shares in Listed Companies e Set SMSF Annual Return PDF options e Notes to the Financial Statements If you do not create or set a customised Badge option for a fund the Default Badge will apply The default badge will also apply for funds migrated from Simple Fund Desktop What happens if change any of these Badge options within a fund Will this overwrite the options originally created by the B
86. ttings e How to reset the user password if required Invite User and User Roles in Simple Fund 360 Simple Fund 360 allows you to invite users such as Clients Employees Auditors and Advisors to review a fund s information You are able to determine what these users can access and see by editing the User Role settings of each user Navigation to the Invite User screen From the Main Toolbar go to Settings Select User list from the list Select Invite New Users BGL Corporate Solutions Pty Ltd 2015 SETTINGS Settings E ma i temi p l ate Invite New Users Page 11 How to Invite a User 1 Input the User details Details Explanation First Name Input the user s first name Last Name Input the user s last name Email Input a valid email address that we effectively become the username 2 Select the User Role From the drop down list select the role you want to assign to the individual 3 Select all funds or a specific number of funds for a User to have access to Option Explanation Select Select this check box to allow the user to access all funds The user will also have All Funds access to any new funds added to Simple Fund 360 Select Selecting this option will only give the user access to the specific fund s selected Funds 4 Select Invite User to send an email invitation to the user or Cancel to abort the invitation An email will be sent to the user s email address containing a new temporary
87. uation Amount Input a debit amount of 23 855 56 Select an account Select Account 78200 GPT Units Do not enter any units for Simple Fund 360 to treat this transaction as a revaluation BGL Corporate Solutions Pty Ltd 2015 Page 55 QO SimpleFund 360 sFoso anny Manual Protessional Eton Amount Input a debit amount of 18 053 00 Select Select an account Select Account 7 600 CBA AX Amount Input a debit amount of 37 696 00 Balancing Entry Select Select an account Select Account 94920 member Data Clearing Account Amount Input a credit amount of 49 604 56 Account Units Debit Credit 77600 BHP AX BHP Billiton Limited 23 855 56 Investment Shares in Listed Companies Australian 78200 GPT AX GPT Group 18 053 00 Investment Units in Listed Unit Trusts Australian i 77600 CBA AX Commonwealth Bank Of Australia 7 696 00 Investment Shares in Listed Companies Australian a 94920 Member Data Clearing Account 49 604 56 Unallocated ii Once your balancing entry has been entered save the transactions by selecting Post The following message will display Message By posting this transaction SF360 will not be able to reconcile the unrealised movement in your Financial Statements When entering manual revaluation entries Le Transactions with no units entered to an investment ac
88. uation funds You can also access real time financial information and set up report packs from this screen Real Time Financial Information Simple Fund 360 provides a real time view of a fund s financial performance allowing instant access to timely and accurate information year round Informed decision making and information transparency are just a few of the benefits from Simple Fund 360 real time reporting capabilities Simply add a Report Pack to view instant and timely financial information Navigation to the Reports screen From the Main Toolbar go to Reports Select Reports from the list BGL Corporate Solutions Pty Ltd 2015 Page 107 C S LLL p M UN a O U SF360 Training Manual Professional Edition Add and Customise your own Report Packs A Report Pack is your own customised source of financial statements Simple Fund 360 allows you to simply Drag amp Drop reports from the report list into a Report Pack to then view download and print How to add a Report Pack 1 ee From the left hand menu select the reports that you want included in the report pack From Custom Reports Financial Reports Investment Reports Letter Minutes Work Paper Reports or Audit Reports select the report by clicking Add or simply drag amp drop the report into the Drag amp Drop field To remove a report select next to the report After you have selected the reports to include in the Report Pack select Save New Report
89. uploading transactions to 2 The Import CSV screen will display Click Start Importing CSV File to begin 3 Locate the CSV file on your server or computer by selecting Choose File Choose your CSV File No File Selected Choose File 4 The transactions contained within the CSV file will show below 5 Select Import 6 Once the CSV file has been imported into Simple Fund 360 you will be directed to the Transaction Matching screen to reconcile any unmatched transactions from the CSV upload BGL Corporate Solutions Pty Ltd 2015 Page 71 Si m p C B UN q 5 60 SF360 Training Manual Professional Edition Task 4 2 Transaction Matching Objectives After completing this lesson you will be able to use the Transaction Matching screen to process the following types of transactions e Task 4 2 1 Creating a Transaction Matching Rule e Task 4 2 2 Match a Dividend e Task 4 2 3 Accountancy Fees e Task 4 2 4 Employer Contribution e Task 4 2 5 Buy and Sell transactions Details Transaction Matching allows you to quickly and easily review and code outstanding uploaded bank statements in Simple Fund 360 Transactions uploaded from an automated source such as the Bank Data Service can be reconciled to the correct accounts before they are uploaded to the Transaction List Any unmatched transactions are uploaded to account 91000 Bank Data Clearing Account which then triggers them to appear in the Transaction Matching screen
90. xplanation Input the date the fund was wound up if applicable The System Start Date is the start of the first active financial year the fund will be processed in Simple Fund Simple Fund 360 The System Start Date will automatically trigger daily Investment Revaluation and Member Allocation Journals from this date going forward This will automatically be set to SMSF Input the Tax File Number for the fund Input the Australian Business Number for the fund if applicable Input the Withholding Payer Number of the fund if the fund does not have an ABN and PAYG registration is required Input the Superannuation Fund Number if applicable Input the Registrable Superannuation Entity licence or number if applicable Input the postal address of the fund Input the physical address of the fund Reporting Options Screen Options Financial Year Explanation This field will display the current financial year of the fund Tax Effect Select this check box to turn on Tax Effect Accounting Simple Fund 360 will create a Accounting provision for deferred income tax PDIT for the fund GST Select this check box if this fund is GST registered Simple Fund 360 will deduct GST Registered amounts from assets income and expenses in reports Resident Select this check box if the fund is an Australian resident fund for income tax purposes Fund Include This option will treat realised capital losses as a timing difference when calcula
91. y the end of this task you will be able to e Add an individual to the contacts screen e Add an Accumulation member Navigation From the Main Toolbar go to Member egs Select Member list from the list Member Member list Contribution dashboard Pension dashboard Fund pension policies Member List The Member List is the main screen in the Members section It contains the following on screen features e List of current members e Add anew member account e Edit an existing member s account information e Input member transactions Page 30 BGL Corporate Solutions Pty Ltd 2015 a i SF360 Training Manual Professional Edition Screen Features Member Explanation Information Member Name Each member s name will display on screen with their age recorded alongside the name Member Code An auto generated code used to identify a member s balance income and expense MEMBERCODE accounts in the fund This code is created when a member is added to the fund Account Insert an account description This is a mandatory field For example if the account is Description a pension account input the type of pension account such as Account Based Account Type The type of member account accumulation or pension Start Date The date the member account commenced in the fund End Date The date the member account was ceased if ceased in the fund Tax Free The tax free percentage of the member s account balance will display
92. y to his portion of disposals in the fund Therefore a provision for deferred income tax is no longer relevant to his portion of the fund Since Mary is also soon to begin a pension we will write back the provision for the whole fund and switch off Tax effect Accounting NOTE If you choose to use tax effect accounting for example if you have a fund with both pension and accumulation members you will need to write back a proportion of PDIT that relates to the pension members proportion of assets This would require you to calculate the proportion and reduce the relevant amount from PDIT clearing against the 49300 MEMBERCODE account for the pension member The pension members proportion of assets can be calculated using the members weightings in the fund For example in this fund you could calculate John s proportion of assets and clear the amount using the 89000 account and 49300 JJones Page 92 BGL Corporate Solutions Pty Ltd 2015 QO SimpleFund 360 sposo taning manu Profession Eto Turn Off Tax Effect Accounting Tax Effect Accounting can be switched off from Fund Details Reporting From the Main Toolbar go to Fund FUND Select Fund details from the list Fund Fund dashboard Fund details Fund relationships Fund export Under the Reporting section untick the Tax Effect Accounting check box This will automatically untick the following check boxes e Include realised Capital Losses in PDIT FITB and e Include unr
93. you to complete the year end accounts immediately Alternatively you can manually enter actuary details if you have already obtained an Actuarial Certificate Manually Enter Details 2013 2014 7 Manually Enter Details 2 Select Manually Enter Details 3 Update the pension policy for 2013 14 financial year Actuarial Percentage Period Leave the default year as 07072013 to 30 06 2074 Certificate Provider Select Other Actuarial Percentage Input 45 General Exp Percentage Select Use Actuarial Investment Exp Percentage Select Use Actuarial Certificate Status Select Confirmed Certificate Creation Select Manual BGL Corporate Solutions Pty Ltd 2015 Page 101 SimpleFund 360 sposo aang anu Professional Eto New Actuary For FY 2014 Actuarial Percentage Period Certificate Provider 01 07 2013 to 30 06 2014 Other Actuarial Percentage 45 General Exp Use Actuarial Investment Exp Use Actuarial 45 45 Certificate Status Certificate Creation CONFIRMED MANUAL T Labels CONFIRMED MANUAL Close Save Once the pension policy has been updated select ES l Actuarial certificates can be uploaded into Simple Fund 360 from the Documents page Page 102 BGL Corporate Solutions Pty Ltd 2015 oO Si m pl e 5 U na 5 60 SF360 Training Manual Professional Edition Lesson 6 Preparing Year End Reports This section explains how to prepare your SMSF for year end rep

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