This article will provide you guidance on how to successfully transition your funds onto Class from BGL 360.
We will run through the steps;
1. Setting Badges
Please ensure you complete the following steps first before exporting your fund's reports.
- Navigate to Settings -> Select Badge -> Select "Default Badge"
- In General Report Settings, please ensure Rounding, TFN and DOB are set up as below:
- Under SMSF Annual Return PDF Options, ensure TFN and DOB are set up as below:
- Save
2. Prepare Fund Specific Reports
Create 2 new report packs in BGL 360 and add the below reports to the newly created report packs:
| Pack 1. Fund Specific Reports Required - PDF |
|---|
| - Fund Summary |
| - Member Statement |
| - SMSF Annual Return |
| - Trial Balance |
| - Detailed Statement of Financial Position |
| - Unrealised Capital Gains - Detailed |
| - Balance Review |
| - Contribution Breakdown Report |
| - Investment Summary |
| - Corporate trustee (see the note for how to create this report on BGL360) |
| - Detailed Operating Statement |
| - Operating Statement |
| Pack 2. TBAR events - PDF (from 30/06/2017 to current year) |
| - Transfer Balance Account Summary |
| Additional information to set up data feed if it does not show in BGL360 reports (optional) |
| - For Wrap and Broker accounts, please provide the statement that shows all of the assets |
| - For Bank accounts, please provide the BSB and Account Number |
All reports of one fund should be put into the same folder and the folder must be named with the Fund code used on Class. A separate folder should be created for the next fund. Once all reports have been added for each fund folder, place the fund folders into a batch folder. Zip your batch folder ready for uploading
Note: Please ensure that all financial information is provided at the book close date 30 June XXXX.
Note: How to create Corporate trustee report
Corporate trustee report needs to be created as a custom report. This report will provide us information of the corporate trustee and its ACN
Please follow the below steps on how to create the report:
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Select Custom Reports, and then select Add Custom Report (please ensure you put on the report date before you do this step)
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The Add Custom Report screen will display. Under the Get Your Template heading, select Download Doc
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Simple Fund 360 will download the Custom Letter Template. Open up the Microsoft Word document, delete everything except for "Trustee Minute/Resolution" part, and save it
- Select Custom Reports and then select Add Custom Report.
- The Add Custom Report screen will display. Input the Report Name (we call it "Corporate trustee")
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Under the Upload Your Template heading, select Browse. Select your Custom Letter from its stored location
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Select Upload Doc
- Once it's done, drag the Corporate Trustee (1) and drop it into the reporting package area (2)
3. Submit Files to TMS
For step-by-step instructions on how to submit your files please see the Transitions Management System article.
Timelines & More
- It will take between 1 to 2 weeks for your funds to be loaded by Class.
- Any missing information or reports may delay transitioning your funds.
- We will advise you if any assumption was made during the transition process once the fund has been loaded.
The Class Transitions team can perform additional services. For more information please see Additional Transitions Services
What's Next?
Once the Transitions team has loaded your Funds to Class, please complete the Transitions Review Guide and accept/reject funds on the TMS.