Welcome to the November edition of Class FAQs. The holiday season is fast approaching. At Class Support, we are here to support you throughout December and January with the exceptions of public holidays.
Throughout this month, we are excited to help answer your popular questions around property purchase processing. Here are some articles you may find helpful.
- Check out the Help Centre pages on what to do when processing a Property Purchase.
- How to set up LRBA borrowing arrangements on Class
- How to use the Class Depreciation Worksheet. If you already have a depreciation report from a third-party deprecator, simply use the Manual Override function.
- Property Valuation for residential properties are easy and free of charge on Class, you can also process manual valuations too.
- Property Sales process is explained in this article in detail.
- After selling the property, don’t forget to click on the Sell All button in the Deprecation worksheet, so the cost base can be taken into account with the sales proceeds.
We would also like to draw your attention to some MFA (Multifactor Authentication) questions we received from you.
- Managing MFA (Multifactor Authentication) is a simple process on Class. If you change your mobile device and no longer have access to the configured authenticator app, you will need to reset MFA.
- If you are not able to log into Class even after entering the authentication code, please check out this article for auto-time settings on your phone/device.
- If you are an Auditor and would like to manager your team’s access/MFA to Class, please refer to this article.
To view the FAQs newsletters from past months, please click here.
If you have any questions regarding the articles above, please feel free to contact Support on 1300 851 057 or email email@example.com.
P.S. This month we continue to ask your help with the tax statements collection process. After 30/06/2020, the Class team has been collecting copies of FY2020 annual tax statements which help you to generate automated tax statements for you and the Class community. We would greatly appreciate it if you can provide us with annual tax statements of the investments (particularly for managed funds) you hold.
You can either navigate to Fund > Fund Documents or Periodic Processing > Tax Statement Console (recommended), select a particular investment, upload document, then send us an email with the fund code to firstname.lastname@example.org.
Email us a scanned copy of the tax statement (redact any sensitive information) to email@example.com .
We thank you in advance for your assistance.