BGL launched a new SuperStream Electronic Service Address (ESA) called BGLSF360 that supports SuperStream Rollovers, Release Authorities and Contributions. As of 01/10/2021, all new registrations will use the BGLSF360 ESA Only. Existing Australia Post registrations will continue to be supported for Contribution data only. The BGLSF360 ESA will be the recommended SuperStream integration.
Note: The BGLSF360 ESA is free of charge when registering directly with Simple Fund 360.
What is SuperStream?
SuperStream is a government reform designed to enhance the efficiency of the super system. Under SuperStream, employers are required to make super contributions, both data and payment, on behalf of their employees electronically. All super funds, including SMSFs, must receive contribution data and payments electronically in accordance with the SuperStream standard.
SuperStream Gateways will collect your contribution data from employers and distribute this data to your SMSF.
This means that employers will be able to send superannuation contributions and data to multiple funds in one standard electronic format, instead of sending information to separate funds in multiple formats.
Australia Post will provide Simple Fund 360's SuperStream Gateway
BGL has partnered with Australia Post to provide SuperStream services. If you are registered with Australia Post, you will be supported for Contribution Data only in Simple Fund 360.
As of 01/10/2021, all new registrations on Simple Fund 360 will use the BGLSF360 ESA Only.
What happens if I migrate my funds from Simple Fund to Simple Fund 360?
If you have already registered and paid for SuperStream in Simple Fund, no refund will be provided for a fund upon migration to Simple Fund 360. No further renewal will be required as the service forms part of your subscription in Simple Fund 360. Once migrated any correspondence from Australia Post in regards to renewals for a fund now on Simple Fund 360 can be disregarded.
Any prior contribution data obtained via SuperStream prior to migration for the fund will still be accessible from Simple Fund 360 post-migration.
Where can I find the Electronic Service Address (ESA)?
The Electronic Service Address (ESA) is required by employers so that they can send contribution data to that address. Each SuperStream Gateway has a unique ESA.
The ESA is available in the Trustee/Employer Notification Letters which can be prepared after you have registered the fund for SuperStream.
The ESA will also be saved under Fund | Fund Details.
Data will automatically match when data feeds are active. The Superstream data and cash transactions entered must meet the following conditions to automatically match the transaction:
- The total dollar amount is identical.
- The Superstream data and cash transactions dates are on the same day or the Bank transaction is a day after the contribution transaction.
|From the Main Toolbar, go to Accounting.||
|Select Transaction list||
1. Select New Transaction and from the drop-down list, select Bank Statement.
2. Under the Account heading, select the bank account from the Input Bank Account box. Next, begin typing and select 24200/MEMBERCODE from the Input Account box.
3. For funds that have been registered with Australia Post, the Contribution Details panel will come up with the SuperStream Data and when the data was last updated.
4. Select the SuperStream Data link for a list of the contribution transactions.
Apply the following filters directly from the More details Panel:
- Current Financial Year (default)
- Previous Financial Year
- Next Financial Year
- Custom Dates
5. In the New Transaction screen, input the Date of the transaction.
6. Under the Credit column, input the contribution amount received. If the date and amount match the data from the SuperStream Contribution Data, Simple Fund 360 will automatically fill in the Description and Contribution Details and will post a corresponding entry to the bank account fields on-screen.
7. Select Post