BGL releases Simple Fund 360 Annual Tax Statement tool

BGL is proud to announce the release of a Simple Fund 360 Annual Tax Statement Tool to automate the processing of tax statement distribution data.

“This new tool will save our clients heaps of time in reconciling Annual Tax Statement data for listed trusts and managed funds” says Ron Lesh, BGL’s Managing Director. “The tool automates the processing of tax data by calculating the amount of each tax component and applying this over distributions received by the SMSF during the year. It makes the annual reconciliation process a breeze. The tool even allows clients to add their own data or change the allocations to make sure everything balances.”

“There have already been 12 Simple Fund 360 releases this calendar year” added Lesh. “Apart from the Annual Tax Statement release, we have also released Engage by BGL, our mobile app and Stage 3 of our AI that uses our smart matching technology allocate transactions to ledger accounts”.

“Part of the update to smart matching helps to automate the processing of distribution components in wrap data feeds” noted Lesh. “From now on, transactions from feed providers will be automatically updated with their respective tax components as Simple Fund 360 receives the information. It’s truly great technology and gets us closer to our goal of The Zero Touch SMSF”.

“Last but not least – Engage by BGL, which was announced at BGL REGTECH 2019, is now available for download from the App Store” advised Lesh. “I’m really proud of the Simple Fund 360 team! The release of Engage by BGL mobile app is a great achievement and will change the way our clients engage with their clients. It will help firms meet the growing demand for improved contribution, pension and investment reporting and transparency”.

“To find out more about the new Tax Statement Tool, Engage by BGL or AI Stage 3, visit us at Stand #50 at XEROCON Brisbane 2019 next week” Lesh said.