Smart Docs - CGT (Beta)

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The Smart Docs - CGT screen has been designed to assist users with entering last year's financials/ opening balances for investments by allowing for the upload of Financial Statements directly into Simple Fund 360. 


Navigation


To access the feature, please follow the steps detailed below

From the Main Toolbar, hover the cursor over the Accounting icon. 6.png
From the Accounting side-menu, select Smart Docs - CGT 26.png

 

Uploading Financial Statements


To begin the process, users must first upload the Financial Statements into Simple Fund 360. To upload Financial Statements, from within the Smart Docs - CGT screen, users can directly drag and drop files over to the Drop or Browse Files box on the left hand side of the screen, or click the cursor within the box. 
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Locate the PDF file of the Financial Statement

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Select Open

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Select Add More to select additional Financial Statements for upload. Select Confirm to begin the upload.
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Note that browsers that are compatible with the feature are Google Chrome, Firefox and Microsoft Edge. File formats that are supported for the upload are PDF, image/jpeg, image/png. 

 

Once the Report has been uploaded.


Once the upload is completed, users will be presented with a table on the left hand side of the screen. The table contains rows that categorise the security type of the imported information, as well as columns that summarise the financial data imported from the uploaded report. 

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Users will be able to reconcile the subtotals in the table with the report data. This can be done by selecting a security from within the table and seeing the corresponding subtotal line in the report highlighted. 

If Simple Fund 360 could retrieve the security code from the report, Simple Fund 360 will create and/or select the account for user. If the user believes that the security is created under the incorrect account, the user will have two options:
  • create the transactions first and then process a transaction recode, or
  • delete the incorrect account and create a new one themselves

Note that the initial view  may not cover the entire table. Scrolling to the right may reveal further information within the table.

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Invalid Transactions

Users may be presented with the icon 'Invalid Transactions' as seen in the icon below. 
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This simply indicates that in order to successfully enter this transaction into Simple Fund 360, there are detail(s) that requires clarification.

To fix this issue, click on the security description with the accompanying apostrophe to expand the row. An account selector will appear, highlighted in red, along with the transactional information below, also with a reddish hue. 

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Click the account selector to determine the correct account for the transaction. If the account is not an existing account within Simple Fund 360, users can add a new account by selecting the Add New Account button.

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Once the appropriate account has been selected, the account will appear with a green hue, it will no longer be invalid and will be ready for import. 

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Note that the amount of Invalid Transactions needs to be zero in order to import the data into Simple Fund 360.

 

Entries

Revaluation Entry:
Upon expanding an imported transaction, users may encounter a revaluation entry

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This entry is simply the Market Value less the Original Cost. 


Notional Gains:
Depending on where the report is coming from, Notional Gains, as recognised in Simple Fund 360, are not always referred to as Notional Gains. Please see the below example.

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In this particular Unrealised Capital Gains report, anything recognised in the Deferred column will come through as a Notional Gain in Simple Fund 360.

 

Distributions:
Distribution information can be accessed via the Distribution tab when viewing a selected transaction. 

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This tab will contain information regarding the Tax Deferred, Tax Free and AMIT amounts.

 

Properties:
In regards to a property purchase, the units will appear similar to below. 

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The unit will appear as '1' for the purchase as the parcel is created. Any additional transactional information must remain '0', as to not impact the initial parcel or be misconstrued as an additional sale or purchase. 

 

Adding and deleting entries:
Additional entries can be added from within this screen. Once a security description has been expanded, an Add Entry button will appear, enabling the user to add an additional line item. 

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Entries can be deleted by selecting the little red 'x' symbol on the left hand side of each transaction. 

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Importing the transactional information into Simple Fund 360


Once users have reviewed the information within the table and there are no longer any invalid transactions, the transactional information is ready to import. This process can be completed by selecting the Create button on the top right hand corner of the screen.

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You will be prompted with a confirmation message. If you are ready to proceed, select Create
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Transactions will now be imported into Simple Fund 360. Note that the transactions will be created as unmatched using the clearing account = 94910

 

Reports currently supported


The following reports are currently supported

Provider Report
Class Unrealised Capital Gains
SuperMate Accrued Capital Gains
BGL: Simple Fund 360 Unrealised Capital Gains - Detailed
BGL: Simple Fund Desktop Investment Summary Report
BGL: Simple Ledger Detailed Unrealised Capital Gains Report

 

 

 

 

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