Welcome to the March edition of Class FAQs.

Upcoming MFA Changes

Due to the ATO Security requirements, the following 2 changes will be implemented in Class in the near future:

1. The "Remember me" functionality for the multifactor authentication codes must now be limited to less than 24 hours. We will change the current "Remember me" time frame from 30 days to less than 24hrs. Class access controllers in your business will also have the option to reset the MFA for Class administrators and other app users. Please keep a lookout for the in-app "shoutout" notifications
2. Multi-Factor Authentications will become mandatory for all users of Class, Client View and Mobile App. We will turn this required function on for all members, beneficiaries, investors, and trustees closer to the end of the financial year. We are also working on enabling access controllers and fund administrators to reset MFA for members, beneficiaries and investors.

Please refer to future What's New articles for detailed updates. 

Director ID Transitional Arrangements

From 5 April 2022,  new directors appointed for the first time now must obtain their director ID prior to their appointment. Under current arrangements, new directors appointed for the first time between 1 November 2021 and 4 April 2022 have 28 days to apply for their director ID. For detailed requirements, please visit this link.

Bulk Processing

Did you know that Class' bulk processing functions will save you lots of effort and time?

1. BulkClassify Cash and Bulk Generate Income and Auto match at the business level 
2. Bulk processing corporate actions at the business level 
3. Process Authority forms for Data feeds in Bulk at the business level

Data Feeds 

2022 lodgment date is approaching, and the following articles on data feeds will help you use Class to its full potential:

• Class supports 200+ feeds. To learn more about our feeds, please check out the Data Feeds Overview.
• If there is an issue with one of your data feeds, the Data Feeds Status page will provide you with the latest updates.
• If your data feed has started, but the investment holdings are duplicated, this article will help you resolve the issue. 
• If your working data feeds are showing feeds no longer active status, you can find the reasons in this article.
• When your data feed is active, but there is no data loaded after a certain date, please refer to Feeds: Data not flowing through to the Fund after a particular date for the solution to this issue.
• If you have some feeds that are unbalanced and missing some transactions, you can click on the Request History Buttonto fill in those gaps. 
• If your NAB data feed has stopped due to a change of BSB number, hereis how to reactivate it. 

FAQ newsletters from previous months can be viewed here.

Feel free to contact us via Live Chat, via email (Support@class.com.au) or call us on 1300 851 057.