Entity Details in Simple Fund 360
The Entity Details screen allows you to identify and manage all general details that are related to an entity. From the entity details screen, users are able to:
- Edit entity names and codes
- Edit and add significant entity dates
- Add Identification numbers
- Enter Address details
Navigation to the Entity Details screen in Simple Fund 360
The Entity Details screen can be accessed by hovering your cursor over Fund from the Main Toolbar and selecting Entity Details from the side menu. 
Details
The Entity Details screen allows you to input and review the following information:
|
Screen Options
|
Explanation
|
|---|---|
| Name | Input the name of the Entity. |
| Code | Input the Entity code. |
| Financial Year | This field will display the current financial year of the entity |
| Trust Type | Select the type of trust |
Dates
|
Screen Options
|
Explanation
|
|---|---|
| Date Formed | Input the entity start date. |
|
Wind Up Date |
Input the date the entity was wound up (if applicable). |
| System Start Date | The System Start Date is the start of the first active financial year the Entity will be processed in Simple Fund 360. The System Start Date will automatically trigger daily Investment Revaluation and Member Allocation Journals from this date going forward. |
Trust Address
|
Screen Options
|
Explanation
|
|---|---|
| Postal Address | Input the postal address of the entity. |
| Physical Address | Input the physical address of the entity. |
Reporting
|
Screen Options
|
Explanation
|
|---|---|
| GST Registered | Select this checkbox if this entity is GST registered. Simple Fund 360 will deduct GST amounts from assets, income and expenses in reports. |
| Resident trust | Select this checkbox if the entity is an Australian resident entity for income tax purposes. |
| Automatic Revalutions | Enable Automatic daily security revaluations. See Automatic Revaluation of Securities for more information. |
Trust Deed Upload
|
Option |
Explanation |
|---|---|
|
Trust Deed Upload |
Input the Deed Source and Deed Last Modified. The Trust Deed can be uploaded to the Documents screen. |
After adding the details, click Save to store the information or Cancel to abort the change.
Select SMSF to open the tax return details screen.
The Deed Source field is usually the third party that prepared the Trust Deed.This field will appear in some reports such as the "Fact Finder Advisor Extract" report
Default Disposal Method
Select a default disposal method (CGT Treatment) in Entity Details for all disposal transactions to call upon. The initial default is "Most Tax Effective", with three other options to select: Least Tax Effective, First In First Out or Last In First Out.
| Disposal methods available | Explanation |
|---|---|
| Most Tax Effective | System will apply the most tax-effective method in matching the cost base for the disposal of an asset |
| Least Tax Effective | System will apply the least tax-effective method in matching the cost base for the disposal (e.g. in order to utilise the capital loss carried forward) |
| First In First Out | System will match the cost base of an asset based on the date of purchase, with the parcel acquired first to be matched first for the disposal |
| Last In First Out | System will match the cost base of an asset based on the date of purchase, with the parcel acquired last to be matched first for the disposal |