BGL SmartDocs will remain FREE to ALL users of Simple Fund 360 and Simple Invest 360 until the end of April 2021.
SmartDocs by BGL will save you countless hours and increase the speed of processing by importing bank data into Simple Fund 360 by simply scanning and uploading bank statements. Supported by optical character recognition technology, this application of document scanning brings the following benefits:
1. It greatly simplifies the process of bank transaction importing.
2. It allows historical transactions to be uploaded, thereby providing more flexibility.
3. It offers an easy option for those who have not set up a bank data feed.
From the Main Menu select Accounting and navigate to Smart Matching.
Select your Bank Account and click .
Drag and drop your Bank Statements directly on Drop or Browse Files
Once uploaded, select Confirm to proceed or click on the minus icon on the top right corner to remove.
Simple Fund 360 will read the Bank Statement that was uploaded and will automatically prepopulate the Fast Data Spreadsheet (Result Ready).
To Import the Bank Data into Simple Fund 360 Select
1. Upload multiple documents
Multiple statements can be uploaded and processed at one time, which greatly improves efficiency.
Select documents and drag them to the Drop or Browse. Multiple documents can be dragged at one time. Once completed, the number of documents uploaded will display next to the Confirm button. Users can further add documents by clicking on the Add More button below. Select Confirm to proceed and all uploaded statements will be processed.
Note: Documents currently supported are bank statements in PDF, image/jpeg and image/png format. The system will alert users with an error message if the file format is not accepted.
2. Process password-protected documents
Some documents may be password protected. For Simple Fund 360 to read encrypted bank statements, you will be required to enter the password.
3. Document Upload via QR Scan
Bank statements can be uploaded via QR-scanning. Once the QR-code is scanned from a smartphone, files can be transferred from the smartphone to Simple Fund 360 directly. Users can also take a photo of a statement to upload.
Hover the cursor to the top right of the Drop/Browse
Click on the QR-code and a magnified QR-code will display. Use the smartphone camera to scan the code. Then select Take a Photo or Browse Photos from existing files stored on your phone.
4. Display of scanned documents
Bank Statements will display on the right-hand side of the screen once processed, with the name of the original file shown on the top bar. Multiple view options are available per users' needs as detailed below.
4-1. Users can have a quick overview of the bank statements uploaded in a catalogue mode from the left sidebar.
4-2. View a particular page using the up or down arrow, or enter a page number directly in the page field.
4-3. Zoom in or out using the plus and minus button to adjust the page size or select a particular size from the drop-down list.
4-4. Download the machine-read version of the statement by selecting the download icon; Exit the page by selecting the cross icon.
4-5. More advanced view options are available from the drop-down lists by selecting
5. Text Indicators
On the side panels, there will be dots in different colours indicating texts that have been recognised by the system. The account information is indicated in blue and transaction data is in green. Users can hover the cursor to a dot and particular texts will then be highlighted, which are further tagged in a type-written format.
In the unlikely event where texts recognised are deemed unreasonable by the system, a red banner will display beside the texts to alert users. (e.g. transactions are not in chronological order)
6. Transaction Reviewing & Editing
Transactions can be reviewed and edited on the Fast Data Entry screen.
To review a particular text, hover the cursor to the item on the Bank Statement displayed on the right, and the corresponding field from the Fast Data Entry on the left would be highlighted, and vice versa. This applies to both descriptions and figures.
To edit a transaction on the Fast Data Entry screen on the left, hover the cursor to a populated field to update texts.
BGL is constantly improving this technology. Some developments in the making are listed here:
1. To distinguish statements from different banks and process them accordingly. At this stage, users need to ensure the right bank account is selected before uploading statements.
2. Further, increase the accuracy of system recognition. From time to time, users may still need to check the balance and update figures where a red alert indicator displays.
3. To support more banks in terms of recognising and processing their statements. At the moment, not all banks are supported. Please check Supported Banks tab for a list of banks supported and note this list will be constantly updated.
If the system fails to read transactions from your bank statement, please contact BGL via email firstname.lastname@example.org and provide relevant statements.
The system will apply Machine Learning algorithms in recognising the uploaded statements, where the bank statements are from an unsupported bank (check the List of Supported Banks below). The following message will display when Machine Learning is deployed, alerting users of the potential inaccuracies in reading the documents.
The Machine Learning algorithms will also be applied to documents in other table formats.
Please note: below is just one example. Files in different table formats may also be recognised through Machine Learning.
Where the Machine Learning algorithms fail to recognise an uploaded document, the following message will display.
List of Supported Banks (Last updated date: 09 Oct 2020)
|1||AFG Home Loans|
|4||ANZ Share Investing|
|7||Australian Military Bank|
|10||Bank of us|
|11||Bank of Heritage Isle|
|12||BankSA (Bank of South Australia)|
|18||BOM (Bank of Melbourne)|
|19||BOQ (Bank of Queensland)|
|22||BWA Managed Investments|
|27||Connective Home Loans|
|28||CUA (Credit Union Australia)|
|30||FinHQ Administration Service Wrap|
|31||Goulburn Murray Credit Union|
|38||La Trobe Financial|
|42||Matrix Portfolio Service|
|47||Mortgage Mart of Australia|
|54||People's Choice Credit Union|
|55||Queensland Country Bank / Credit Union|
|56||Rabobank / RaboDirect|
|57||Regional Australia Bank|
|59||Service One Alliance Bank|
|62||SWSCU (South West Slopes Credit Union)|
|63||Teachers Mutual Bank|
|64||TPT Wealth / Tasmanian Perpetual Trustee|
|66||WAW Credit Union|