A new daily feed from PPM has been added, automatically importing cash, investment and income data on a daily basis. This feed also includes foreign transactions.
1. Navigate to Feed Management:
|From the Main Toolbar, navigate to Connect.|
|Select Feed Management.||
Under the Wraps and Platforms section, select Setup.
2. From the Wrap and Platform Feed Management screen, Input the Feed Provider Details.
- Fund: Your current fund will be selected by default.
- Feed Provider: Select ‘Private Portfolio Managers'
- Account ID: Input the fund’s Private Portfolio Managers (PPM) Account Number.
- Bank Account: Select your primary PPM cash account
- Do not import data before date: Input the last date of any data that was manually entered prior to feed activation.
3. Download the pre-filled Authority Form
|Click on the Download Form button|
Please send the completed authority form to firstname.lastname@example.org
4. Holding Account
Bank Account Settings:
For any Bank Account associated with this feed, please enter the relevant Bank Code into the Security Code field. This will allow the feed to identify and post transactions to the correct existing Bank account.
Cash Account Codes examples (different Currencies)
For any Bank or Investment account associated with this feed, please enter the PPM Account Number (same number/code that was entered into Account ID above) into the Portfolio Code field. This will allow the feed to identify and post transactions to the correct existing Bank or Investment account.
Potential Duplicate Accounts
If you do not enter the Bank Account Codes and Portfolio Codes for existing accounts, the feed will automatically create new accounts and you might end up with duplicate holdings.
6. Select Save to finalise the Feed Setup.
|Click on the Save button at the bottom of the screen|
Type of data:
The following information is imported through the data feed:
- Investment movements (purchases and disposals)
- Income transactions (dividends, distributions and bank interest)
- Bank transactions
- Foreign holdings and foreign currency data is also imported via the PPM feed
Reconciling to PPM Reports:
- The PPM Annual Report includes cash transactions based on the financial year of their Accrual Date. The PPM Annual Report's Cash Ledger also provides the Settlement Date for each cash transaction.
- The feed will import cash transactions based on the Settlement Date, and the 30 June balance can then be reconciled using the Adjusted Accrual Balance given at the bottom of the Cash Ledger (this is where the PPM Annual Report adjusts for cash transactions that are displayed, but not yet settled).-
- The PPM Annual Report will sometimes include income based on settlement date.
The feed will import dividend income based on the settlement date, and distribution income based on accrual date for tax purposes.
Please be mindful of this when reconciling.
- Assuming the authority form is correctly filled out and signed, it should take 1-2 business days for the feed to be activated by PPM.
Daily automated feed:
The PPM feed will be automatically imported into SF360 daily.
Note: Balance data will only update if there is a corresponding transaction on that particular date.
The re-request function can be used to import historical transactions.
1. From Feed Management.
|Locate the PPM Wrap and Select the Re-Request Transaction Button located under the Actions column.|
2. From the Re-Request Transactions screen, Input the dates Do Not Load Before (earliest import date) and Do Not Load After (last import date). Transactions within this date range will be requested and imported.
3. Import the transactions from the chosen date range.
PPM will send through updated income tax components at year end, which will automatically update in SF360
How will transactions be coded?
All cash 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.
How do I setup the bank accounts related to the feed?
In Holding Accounts screen, ensure to add the bank code next to the relevant account's Security Code field.
Cash Account Codes
AUD example - CASH_INV_AUD
Foreign cash example - CASH_INV_USD
Which transactions will be matched?
Investment transactions (purchases and disposals) will be automatically matched to their corresponding Cash transactions by Simple Fund 360. Dividends and distributions will be matched to account 23900 and 23800 respectively during upload using the ASX codes. Interest income will also be automatically coded to the linked 25000 interest account.
Can historical transactions prior to the feed activation be uploaded?
Yes. Historical transactions are requested upon feed activation for Simple Fund 360. Perform a transaction re-request to obtain historical data.
What is the turnaround time for feed commencement once authority has been provided to PPM?
Assuming the authority form is correctly filled out and signed, it should take 1-2 business days for the feed to be activated by PPM.