BT is in the process of moving all Wrap accounts across to their Panorama platform this year in batches. BGL will automatically convert and create the relevant BT Panorama feeds for your funds.
BT Panorama provides the following integrations with Simple Fund 360
- BT Panorama to simple Fund 360 - A data feed from BT Panorama to Simple Fund 360 provides you with a daily data feed of assets held within an SMSF’s BT Panorama account including cash and investment information, market values, transactions and income components. It can be granted on either an Adviser or Account level and a Historical data refresh is provided by default.
- Simple Fund 360 to BT Panorama - A connection can be activated to automatically retrieve external asset and additional SMSF information (such as member balances, member contributions caps and pension limits) from BGL Simple Fund 360 through to an SMSF’s BT Panorama account.
Request authorisation to receive a data feed of your client’s BT Panorama account data into your Simple Fund 360 software:
For client’s with a BT Panorama Adviser:
- Ask your client to send a request to their BT Panorama Adviser to authorise a data feed for ‘BGL Simple Fund 360’
For client’s WITHOUT a BT Panorama Adviser:
- Ask your client to send an authorisation email to BT Panorama (template provided below)
Email address: firstname.lastname@example.org
Email subject: BGL 360 – BT Panorama data feed request (Account subscription)
Dear Panorama support,
Please setup a data feed to BGL Simple Fund 360 for the below account(s) under my investor ID <2xxxxxxxx> with a daily update frequency.
I authorise my account data to be sent to BGL Corporate Solutions.
The authority process can take up to 5-6 business days. Once approved data will begin feeding into Simple Fund 360.
Setup in Simple Fund 360
You can establish a data feed from BT Panorama to Simple Fund 360 that will provide you with a daily data feed of assets held within a client’s BT Panorama SMSF account including cash and investment information, market values, transactions and income components.
The data feed can be established as follows:
|From the Main Toolbar, go to Connect|
|Select Feed Management from the list.|
|Select the Wraps and Platforms Global tab.|
1. From the Wrap and Platform Global tab, select (+) Setup.
2. The Setup Wrap and Platform Feed screen will appear. Begin typing the fund name into the field and select it from the drop-down list below.
3. Select BT Panorama as the Feed Provider.
4. Input the External Reference/Account ID.
You can find the Account ID on the top right-hand corner of your BT Panorama Cash Statement. The Account ID is usually the Client Number.
Note: If data has been entered manually for this feed prior to its activation, input a Do not import data before date in the relevant field to the last date of manual data entry.
5. Select the BT Panorama Cash Management Account for the fund the authority is being granted for (authority will need to be granted for each bank account).
If you do not set this up, the feed will automatically create new accounts and you might end up with duplicate accounts.
6. Select Save
Distribution transactions and tax components
Simple Fund 360 automatically updates wrap feed distribution transactions with their respective final tax components when the annual statement is made available.
For more information, please refer to Distribution transactions and tax components
Authority Process - Adviser
The following instructions are for the adviser to authorise the feed on the BT Panorama platform.
- When the adviser logs into BT Panorama, the adviser will need to navigate to the Data Feeds Screen (Business > Data feeds)
- Click on the ‘Create new data feed' button:
- The below pop-up will appear where they will need to select the following;
- Software Provider/Vendor – in this case, it will be ‘BGL Simple Fund 360’.
- The subscription level – generally for BGL it will be account level.
The adviser will then need to enter the account name or number for the fund they are authorising. Alternatively the adviser can select 'Adviser' subscription level if they want to send data for all of their accounts to BGL.
- Once they have completed the above, please tick the box authorising BT Panorama to send the data to BGL. Then click ‘Create Feed’.
- The first file will then run overnight.
How will BT Transactions be coded?
- All cash, income, and investment transactions will be allocated to the correct account in Simple Fund 360. For purchases of new investments not previously held by the fund, new accounts will be created and transactions will be automatically allocated.
Which BT Transactions will be matched?
- Investment and Income transactions will be automatically matched to their corresponding Cash transactions by Simple Fund 360.
- Investment transactions will also match with their corresponding income transactions (for example, Dividend/Distribution Reinvestment Plans).
- Any Cash transaction that is not investment related (e.g. an expense) will be automatically matched once a Transaction Matching Rule has been set up.
Which BT Transactions will not be matched?
- Transactions like expenses will not be automatically matched by Simple Fund 360 unless you have Transaction Matching Rules set up. You can match those transactions through the Transaction Matching screen and create Transaction Matching Rules if applicable.
- If the BT Income Transaction is not on the same date as the BT Bank Transaction, these transactions will also not be automatically matched by Simple Fund 360.
- You will need to match those through the Transaction Matching screen.