Skip to main content

How to Delete a Fund in Simple Fund 360

 

Information 

Fund(s) can be deleted from the Fund Selection or Entity Workflow.

By default, only Admin users have the ability to delete funds. This user role option can be switched on for employees. Refer to User Roles.

The deleted fund count can be found in the top right-hand corner of the Fund Selection page.


When a fund has been accidentally migrated from Simple Fund Desktop to Simple Fund 360. Please delete the fund from Simple Fund 360 and continue your work on Simple Fund desktop.

Warning

Deleted funds can't be restored in Simple Fund 360; please consider this prior to removal.

The following will be removed when a fund is deleted and cannot be restored:

  • All Transaction Data
  • All CGT Data
  • All Financial Reports

BGL recommends that you take the following precautions prior to deleting a fund:

  1. Export all transaction lists and CGT registers out of Simple Fund 360 as either a PDF or Excel file
  2. Transfer the fund being deleted to another Firm. Please see Fund Transfer for more information
  3. Run reports for the fund and store these external to Simple Fund 360

Recommended reports to export prior to deleting a fund in SF360


Before you delete a fund in SF360, we recommend exporting the following reports from the Reports screen. This is so that if you need to be restored, we are able to use these reports to enter opening balances for the fund.

* We recommend exporting the reports based on when the fund was last finalised
* We recommend ensuring the reports are exported as un-rounded.

The reports we recommend are:

1. Balance Sheet
2. Operating Statement
3. Members Statement
4. Investment Summary Report
5. Unrealised Capital Gains Report - Detailed
6. SMSF Annual Return
7. Trial Balance
8. General Ledger

NOTE: There may be other reports you deem more appropriate or necessary to include as part of the export prior to deleting the fund. 

A fund can be deleted in two ways below. One is through Entity Selection and the other is through Entity Workflow.

Entity Selection 

 

From the Main Toolbar, select Home.

Select Entity Selection.

Screen_Shot_2020-08-26_at_2.21.54_pm.png

 

 

  1. Select the checkbox to the left of the fund(s) to delete.

  2. Select the Delete button and follow the prompts to confirm the deletion.

    Warning

    Deleted funds can't be restored in Simple Fund 360; please consider this prior to removal.


Entity Workflow

 

From the Main Toolbar, select Home.

Select Fund workflow

efee.png

 

  1. Select the Quick Links option. (The three-dot icon)mceclip2.png
  2. Select Delete Fund

        Warning

        Deleted funds can not be restored in Simple Fund 360; please consider this prior to removal.

         mceclip4.png

        3. Follow the prompts to confirm the deletion.

Tip

Simple Fund 360 will not allow you to delete a fund with part-year create entries. To remove the safeguard reverse current year Create Entries and try again.

Related articles