BGL releases multi-fund reporting for TBAR
SMSF software provider BGL has released new features on its software to allow multi-fund reporting for the TBAR along with a TBAR management dashboard for reviewing reporting requirements for clients.
BGL chief executive Ron Lesh said BGL has built a transfer balance dashboard and a TBAR management dashboard to assist clients in managing the TBAR process.
“Clients can review member accounts, determine reporting requirements, prepare TBAR files and lodge TBAR files for multiple funds with the ATO,” said Mr Lesh.
“BGL’s Simple Fund 360 TBAR release uses artificial intelligence to help accountants and administrators in the management of TBAR process and also supports all TBAR reporting — pre 30 June 2018 and post 30 June 2018.”
The TBAR management dashboard, he said, will tell users what they need to report for clients and when to report it, while the transfer balance dashboard shows each member's total super balance and allows users to add external accounts.
“The TBAR dashboard then uses this data to determine TBAR reporting due dates for all funds,” added Mr Lesh.
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.