SMSF software provider BGL Corporate Solutions (BGL) has added Mebourne-based company accountantsGPS to its suite to offer its clients an SMSF check-up report, which can provide a comprehensive analysis of a fund’s compliance and financial situation to evaluate how the fund is progressing in key areas.
BGL managing director Ron Lesh said the report includes SMSF documentation, investment performance, investment policy development, contribution strategies, investment property performance (including debt position), insurance and estate planning.
“The report will help Simple Fund 360 clients to determine whether the trustees and members of a fund will meet their compliance obligations as well as their longer-term investment and retirement goals,” he said.
George Haramis, chief executive and co-founder of the Fiduciary Group and accountantsGPS, said accountants can now undertake a comprehensive analysis of their clients’ SMSF across a number of key areas, adding additional value to trustees and members and eliminating the time, cost and angst of trying to create a report manually.
Jeevan Tokhi, head of Simple Fund 360 at BGL, said the integration allows BGL clients to log in to the accountantsGPS platform using their Simple Fund 360 credentials. Clients can then authorise Simple Fund 360 to pass information relating to all or a select number of their SMSFs to the accountantsGPS platform.
“BGL’s API will pre-fill 95 per cent of the information required to complete the SMSF check-up report, making this a simple, streamlined process that takes just a few minutes per fund. Importantly, it means clients can provide the report for their SMSFs without requiring an Australian Financial Services (AFS) Licence,” he said.
