What data is transferred from Simple Fund to Simple Fund 360 as part of the migration?
All fund data is migrated across. This includes fund details, member details, Pension Policy details, all transactions from the date of transfer dating all the way back to the fund's formation date and the chart of accounts (including all custom accounts you have created). Documents will also be migrated.
Note: The Depreciation Schedule is not migrated from Simple Fund to Simple Fund 360. However, depreciation history is migrated.
What Data Import Rules are migrated from Simple Fund Desktop to Simple Fund 360?
If the checkbox "Migrate Data Import Rules" is ticked, the utility will migrate only existing expense rules that are attached to the migrated funds. Global Rules will not be migrated to Simple Fund 360.
Any expense rules containing a wildcard character will be automatically converted to the Simple Fund 360 algorithm. This algorithm uses the "Contains" logic as opposed to the wildcards (%) or (_). Refer to Transaction Matching Rules for more information.
Once a fund is migrated and the success message is received, the migration utility will begin migrating documents to the Documents screen in Simple Fund 360.
The migration utility will need to remain open for documents to migrate. If you close the utility, document migration will commence again the next time you open the utility.
Do I have to migrate all my data at once?
You do not have to migrate all funds to Simple Fund 360 at once. You can migrate funds on an individual basis, a department basis or all at once. You can continue to work in Simple Fund desktop on any funds that have not been migrated. For Funds that have been migrated to Simple Fund 360 any transactions entered into Simple Fund desktop after migration will not be synchronised.
Do we sign up funds to The BGL Bank Data Service in Simple Fund before migrating funds to Simple Fund 360?
Funds do not need to be signed up to the Bank Data Service before migrating to Simple Fund 360. Funds can be signed up AFTER migrating to Simple Fund 360.
If a fund has already been signed up to the Bank Data Service, these details will be migrated across to Simple Fund 360 during the migration process.
No additional authority forms will need to be signed for bank accounts.
Is the Contract Notes service migrated to Simple Fund 360 (if I have signed up for the service in Simple Fund?)
The Contract Notes service was designed with Simple Fund 360 in mind. The migration process will ensure that any unique email addresses already setup in Simple Fund will be moved across during the migration process.
This means no change is necessary for your client. When the fund is migrated from Simple Fund to Simple Fund 360 the broker transactions will begin automatically feeding into Simple Fund 360 overnight, enabling you to focus on more important SMSF issues.
Refer to The Share Data Pack help for more information.
Can I migrate my Funds from Simple Fund 360 to Simple Fund?
Once funds have been migrated to Simple Fund 360 they cannot be migrated back to Simple Fund.The migration process is one way.
We currently use both Simple Fund and CAS, and run a Shared Database. Can we migrate our funds to Simple Fund 360?
If you are running a shared database between CAS and Simple Fund you can migrate funds to Simple Fund 360. The People information that is shared between Simple Fund and CAS will be migrated to Simple Fund 360.
Where do I obtain my Simple Fund 360 credentials used to migrate from Simple Fund to Simple Fund 360?
BGL will provide and assist you with all login and migration details via email during sign up. If you have misplaced these details please call BGL on 1300 654 401 for assistance.
Can I migrate a segregated Fund from Simple Fund to Simple Fund 360?
Note: Users must be running Simple Fund Version 2017.1 or greater in order to migrate segregated funds.
Segregated funds can be migrated to Simple Fund 360. Existing asset allocations are not migrated and a Segregation Policy will need to be created post migration in Simple Fund 360. Refer to Migrate Segregated Funds to Simple Fund 360 for further instructions.
What are the Internet browser requirements for Simple Fund 360?
- Google Chrome (Recommended browser)
- Internet Explorer (Version 11)
- Mozilla Firefox
What happens to the fund's bank accounts after migration?
A fund's bank account(s) will be converted to sub accounts in the Simple Fund 360 chart of accounts. See Bank Accounts for more.
They will appear under the account range 60400.
The bank details including BSB, account number and name are extracted from the Simple Fund Desktop Bank Accounts screen. Click here for more.
A member who has multiple accumulation accounts in Simple Fund.
Members can only have one accumulation account in Simple Fund 360. If a member had more than one accumulation account in Simple Fund, they will be combined into the one accumulation account upon migrating to Simple Fund 360.
Changes to gross up of Imputed / TFN / Foreign Credits
Simple Fund 360 does not gross up Imputed, TFN or Foreign credits to the income account.
When reconciling reports you may come across the following:
- A discrepancy between the income amount for dividends received in the two operating statements (to the value of the franking credits)
- The Fund Details screen does not have the option in Simple Fund 360 to gross up Imputed, TFN or Foreign credits. See Fund Details for more information.
Error: Exception Message "30/06/2012 is not a valid date"
- Go to Control Panel and select Region and Language Options.
- Select the Formats tab and under Format, select English (United States).
- Click Apply.
- Change the format back to English (Australia) again.
- Click OK.
You need to have the right to Migrate Funds
In the Access Levels Add/Edit screen in Simple Fund, the Migrate Funds check box needs to be ticked for you to be able to migrate funds.
To access this screen, go to Administration | User Maintenance in Simple Fund and click. You can create a new Access Level if required.
By default, only users with the Supervisor User Access has the right to migrate funds.
Refer to the Access Levels Add/Edit Help File on BGL Wiki for more information.
Reversionary Pension Details
Reversionary beneficiaries entered in the Nominated Beneficiaries screen of Simple Fund 360 will be migrated to Simple Fund 360.
However, when these details are solely noted in the Pensions screen, the reversionary beneficiary will NOT be reflected on Simple Fund 360.
For information on how to enter reversionary details to an existing pension on Simple Fund 360 click here.