Navigation to the Fund Details


From the Main Toolbar, go to Fund.

Select Fund details from the list.

Fund Details in Simple Fund 360


The Fund Details screen allows you to put in all fund specific information including:

  • Fund Name
  • Fund Formation Date
  • Fund Addresses
  • Fund Reporting Options

The SMSF screen allows you to input information directly into Sections A and L of the SMSF Annual Return. 

Fund Details


The Fund Details screen allows you to input and review the following information: 

Details 


Screen Options
Explanation
Fund NameInput the name of the fund.
Fund CodeInput the fund code.
Date FormedInput the fund start date.

Wind Up Date

Input the date the fund was wound up (if applicable).
System Start DateThe System Start Date is the start of the first active financial year the fund will be processed in Simple Fund Simple Fund 360. The System Start Date will automatically trigger daily Investment Revaluation and Member Allocation Journals from this date going forward.
Fund TypeThis will automatically be set to SMSF.
TFNInput the Tax File Number for the fund. 
ABNInput the Australian Business Number for the fund (if applicable).
ESA

Electronic Service Address for SuperStream. If the fund is registered through Simple Fund 360 this will display AUSPOST SMSF. It will be blank if not. The field is editable.

The SMSF Annual Return will collect the ESA from this field.

WPNInput the Withholding Payer Number of the fund (if the fund does not have an ABN and PAYG registration is required).
SFNInput the Superannuation Fund Number (if applicable).
RSE

Input the Registrable Superannuation Entity licence or number (if applicable).

Postal AddressInput the postal address of the fund.
Physical AddressInput the physical address of the fund. 

Reporting Options


Screen Options
Explanation
Financial YearThis field will display the current financial year of the fund.
Tax Effect AccountingSelect this check box to turn on Tax Effect Accounting. Simple Fund 360 will create a provision for deferred income tax (PDIT) for the fund. 
GST RegisteredSelect this check box if this fund is GST registered. Simple Fund 360 will deduct GST amounts from assets, income and expenses in reports. 
Resident FundSelect this check box if the fund is an Australian resident fund for income tax purposes. 
Include Realised Capital Losses in PDIT/FITB?

This option will treat realised capital losses as a timing difference when calculating PDIT

This is activated when Tax Effect Accounting is ticked.

Include Unrealised Capital Losses at 15%

This option will include unrealised capital losses in timing differences at a 10% tax rate when calculating PDIT. This option assumes losses will be applied against discounted gains and is not recommended where assets are generally sold within 12 months of acquisition.

This is activated when Tax Effect Accounting is ticked. 

Fund Tax RateLeave this as 15%, for a Non Complying SMSF switch the fund tax rate to 45%.


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. 


Section A


Section A
Information to Input
Status of SMSFIf the fund is an Australian Superannuation Fund for tax purposes, select Yes.
Use Tax Agent Address for postal address in tax returns?Select Yes to use the Tax Agent's address as the postal address. Select No to use the fund's postal address.

Important Changes to Fund Details screen in Simple Fund 360


If you were using Simple Fund Desktop, please note that in Simple Fund 360, the following grossing up options are not available:

Simple Fund 360 will not add/gross up imputation, TFN or foreign credits to income accounts. These amounts will be offset against the Income Tax Expense account (48500) of the fund.