This article will provide you guidance on how to successfully transition your SMSF's on to Class from Manual sources.
We will run through the steps;
Prepare Data Files & Reports
- Create a separate folder for each fund on your PC or Shared Drive
- Fill in the Manual Data Collection Form and save for each fund
Note: Ensure that all Amounts are only 2 decimal places
- Add the following reports to your fund folders
- Member Statements - Trial Balance - Detailed Balance Sheet and Operating Statement - Investment Summary as at book Close Date - Report showing Purchase Parcel details (Acquisition Date, Quantity, Cost Base, Cost Base Adjustments) for all investments held at book close date. - Total Super Balance (if records available) - TBAR cancellations and pending cancellations (if records available) - TBAR Events History (please use Manual data collection form for SMSF) - For Wrap and Broker accounts, please provide either a Broker or Wrap statement that shows all of the assets held in the broker or Wrap account - For bank account details, please provide either the bank statement with the BSB and Account Number clearly readable, or alternatively provide a list of BSB's, account numbers, and fund codes that the bank accounts belong to. If you have multiple bank accounts in a fund, you should also include a means for the team to tell which account belongs to which BSB/Account Number
- 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.
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. Please be aware that any missing details or reports may result in a delay in transitioning your funds. Once a fund has been loaded, we will advise you that this has occurred along with any assumptions we may have made during this process.
The Class Transitions team can perform additional services for you, including entering historical transactions, portfolio reconstructions, entering depreciation schedules, and data feed identification. For more information please see Additional Transitions Services