Welcome to financial year 2009 !!

The 2008 year has been a hectic one at BGL. With substantial changes to corporate and superannuation law in both Australia and overseas BGL has had many challenges to meet during the past 12 months. Coupled with the release of our new database, report writer and the new way our applications produce forms, there has certainly been a lot of change.

The next year we see as one of consolidation and an opportunity to release a number of new products to clients. One of the first entrants will be CAS Forms, and new modules that will allow clients to prepare virtually any form in CAS. This will be followed by the report writer, a new query module and updates to all our web modules. There certainly is a lot in store for 2009.

Finally let me take this opportunity to thank you for your continued support wish you a successful and prosperous 2009

Did you know you can be rewarded by introducing a colleague or business associate to BGL who subsequently invests in any BGL subscription?

You could earn Products & Services vouchers up to the value of $100. Check out the Client Referral page on the website for more details or contact the Sales and Marketing team 1300 654 401 or info@bglcorp.com.au.

BGL Subscription Renewal Prices for all products will increase form 1 July 2008. The overall price increase is around 8% as BGL has not increased prices since 1 July 2006 so this price increase is a necessary catch up. BGL has decided so as  to avoid large prices increases every 2 years, in future we will increases prices in line with inflation each year. We feel this is fairer to clients and fairer to BGL.

BGL is committed to always provide you with exceptional value for money. This commitment is an underlying principal of BGL from which we will never falter.

BGL Hands on Product Training courses are run by experienced BGL trainers who are there to guide you through each step of the course and answer any questions you may have. The training courses are a great way for you to learn the BGL products and get the best use of them. Courses for the first half of 2008 are filling fast, so you need to book early to secure your place. To find out more about the BGL Training courses and or to register, visit the BGL Website.

New locations
BGL Hands on Training courses are held regularly in Adelaide, Brisbane, Melbourne, Perth and Sydney in the upcoming months, BGL will also be offering Hands on Training courses in:
Albury
Gold Coast

With the Training Guide for July to December 2008 currently available you can also check out the latest training dates and course content for each session on the BGL website:

• CAS Introduction
• CAS Advanced
• Company Secretarial Requirements
• Simple Fund Introduction
• Simple Fund Advanced
• Simple Fund Pensions
• Simple Fund for Trustee

Look out for the Product Update Seminar information that we will shortly be sending out to you.

If you have any training related questions, please speak to our Training Coordinator Claire de Freitas on 1300 654 401 or by email at training@bglcorp.com.au

You can register for all Hands on Training sessions through the BGL Client Centre clients.bglcorp.com.au

Did you know by introducing your clients to Simple Fund, Simple Invest or Simple Ledger you can earn commission on all subscriptions purchased?

By purchasing Simple Fund, Simple Invest or Simple Ledger your clients can

• Process accounting transactions of their own Super Funds
• Manage their investments
• Handle their own day-to-day accountants

and much more then by passing their data files to you, you can reduce your data entry and focus on the high value services.

The Simple Fund Team is currently looking for additional beta testers to assist with the transition to the 2nd round of Simplified Superannuation changes.

You will have the opportunity to make suggestions for improvement and become familiar with the new Self managed superannuation fund annual return 2008 (NAT 71226). The new SMSF annual return replaces the old fund income tax and regulatory return and member contribution statements (MCS)

These benefits however come with some obligations. For BGL to gain the utmost benefit from a beta release program we need you to:

• Download and install all beta updates as soon as they are available (Note: All releases will be on the internet so you will need a broadband internet connection)
• Be responsible for your own backup and restore process
• Actively use the new software for your day to day work
• Notify us immediately of any errors you find in the software
• Provide us with your suggestion for improvements

If you are interest in becoming Simple Fund 11.1 beta tester please send an email to clientrel@bglcorp.com.au

Become a member of a BGL Product User Group. This is your opportunity to network with other BGL clients, share your ideas and learn more about the BGL products.

Dates for the next meetings are as follows:

State	User Group	Next meeting
Melbourne	Simple Fund Professional CAS Simple Fund Trustee	25 Aug 12 Aug 24 July
Perth	Simple Fund Professional Simple Fund Trustee	TBC 30 July
Sydney	Simple Fund Professional CAS	4 Sept TBC
Brisbane	Simple Fund Professional	Aug TBC
Gold Coast	Simple Fund Professional	13 Aug
Hobart	Simple Fund Professional	TBC
Adelaide	Simple Fund Professional	TBC
Canberra	Simple Fund Professional	August TBC

To register for any of the above User Groups, visit the BGL website. Your confirmation including venue details will be provided when you register and print your confirmation. Alternatively, you can contact Jess Campbell in the Sales and Marketing Team by email info@bglcorp.com.au or on 1300 654 401.

New User Groups in 2008
BGL are establishing User Groups in Geelong and Tamworth, to be held in the forthcoming months. Please email Robyn Riley our Client Relations Coordinator clientrel@bglcorp.com.au. if you would like to attend a User Group in any of these areas.

BGL Client Services offers a comprehensive ASX and Managed Fund data feed service utilising the latest web technology to import ASX and Unlisted Unit Trust (UUT) data directly into your Simple Fund, Simple Invest and Simple Ledger software.

Data is available on a daily, monthly, quarterly, annual or ad hoc basis depending on your individual needs. ASX data includes price and dividend data and ASX/UUT data includes prices, dividend / distribution and UUT Asset Allocation data.

The data is sourced directly from ASX and Morningstar Research Pty Ltd and supported by BGL, so you can be confident that the data is accurate and correctly licensed for distribution.

Benefits

• Fast, automated service and seamless integration with your BGL software


• Subscribe online 24/7 and receive data instantly


• Combine your software and data providers and remove any third party reliance


• Transparent, easy-to-understand pricing policy plus a 30 day money back guarantee


• Request one off daily ASX data at $55.00

Subscribing

• On the LHS of the Screen, under Your Subscriptions, select Purchases and Upgrades


• On the Purchases & Upgrades Page select Subscribe to BGL Client Services ASX and Managed Funds Data Feed


• Select the Products for Datafeed


• Confirm (Data Feed shopping Cart), finalise the invoice amount and you will then become a subscriber

Welcome
Kenneth Das as Support Consultant
Pablo Rodriguez as Support Consultant
Prakash Sastry as Senior Programmer

Congratulations
Shamindhi DeSilva and Anthony Costa are now both qualified BGL trainers

Version 11.0 (13/06/2008) is currently available on our web site. To download the latest update, please log in to the BGL Client Centre.

CASNet version 6.0 has also been updated and released to clients. CASNet 6.0 is currently available for download from the BGL website. Clients installing CASNet 6.0 are advised to follow the installation instructions carefully.

The CAS team are currently working on version 11.1 due for release in July. Version 11.1 contains numerous new features, and enhancements to improve the way in which our clients and their companies are managed through CAS. Many of these enhancements are from clients who attended the recent update seminars and took part in the wish list survey. The CAS team have worked tirelessly to incorporate as many of these wish lists as possible and we are certain that all clients will receive a remarkable benefit from these changes.

The current CAS release contains major changes for Singapore and Hong Kong clients as well as a few minor changes for Australian and New Zealand clients.Clients who have not yet upgraded to version 11 it is advised that the installation instructions are followed carefully. There have been many compliance changes in version 11 and it is advised that this update is run as opposed to waiting for the release of version 11.1 in July.

ASIC News

The Corporations Act requires public companies, disclosing entities, large proprietary companies, registered schemes and small proprietary companies controlled by foreign companies to prepare financial reports.

Disclosing entities and registered schemes are required to lodge the financial reports within three months of the end of the financial year. All other companies must lodge their financial reports within four months of the end of the financial year.

CAS Tip of the Month

Re-instating Annual Reviews back to the Annual Review Screen for processing.

Once you have processed the Annual Company Statement through CAS, it will no longer appear on your annual review screen.

Problem

What do I do if you need to make a change or process it again?

Solution

CAS Explorer | Tracking / Tasks | Data Input

This function gives clients the opportunity to change the status of a document.

By selecting a company, then clicking on the second search icon next to ‘document / year’ all the documents for this specific company will appear.

By selecting an annual company statement, CAS will then allow you to edit the status of that document. If the status level is changed from ‘Doc Processed’ to ‘Doc Received’, the annual review will re-appear in the annual review screen.

Simple Fund release 11.0 (08/05/2008) is currently available on our web site. It contains a new updated look and the new improved database engine called nexus as well as over 30 other changes and bug fixes.

The Simple Fund team is currently finalising Simple Fund Release 11.1 containing the  2nd round of better superannuation legislation changes that come into effect for the 2008 Financial year.

The volume of superannuation changes contained in Release 11.1 is unprecedented and  BGL encourage all parties involved in SMSF administration to attend the Simple 11.1 Update session held around Australia in August 2008.

The main changes to Simple Fund 11.1 include:

• new 2008 SMSF Annual Return that only SMSFs will be able to lodge. 
• significant changes to member contributions reporting for SMSFs  
• major changes  to ‘Form F’ Fund Income Tax Return
• changes to the MCS for all funds pre 2007 and post 2007
• enhanced 2008 Audit work papers module
• No TFN’s and Contributions changes

Simple Fund Tip
BGL Support staff are getting a lot of question about how to crystallise the pre- July 1983 component. The crystallisation occurs automatically when you balance a fund forward to the 2008 Financial year. This crystallization process is contained in the current Release 11.0 of Simple Fund. In actual fact it has been available to clients since last July 2007 with the release 10.1 of Simple Fund.  Here is a reprint of an earlier newsletter article that explains the crystallization in more detail.
The ATO requires Superannuation providers to crystallise the pre-July 1983 component of a superannuation interest before 30 June 2008. Superannuation providers who do not calculate the crystallised pre-July 1983 component by 30 June 2008 may be subjected to an administrative penalty from the ATO.
Simple Fund users should therefore ensure that they have completed the following three step process before 30th June 2008.

1. Ensure you have input your earliest eligible service period date into the “Date commenced Service Period” date field in each Members | Details screen.
2. Ensure you have accounted for all Pre 83 amounts and finalized the 2007 Financial Year accounts where possible.
3. From the Fund Details screen Click 'Balance Forward'. Select the three check boxes and process the Balance Forward to the 2007-2008 financial year During the balance forward process Simple Fund will automatically determine the crystallised segment of the tax free component of a member's superannuation interest. A Balance Forward Report will be generated at 01/07/2007 showing the balances and components for each of the member's in the fund at 30/06/2007. It will then show the journals posted by the system that were needed to correctly place the member's balance into the appropriate Taxable and Tax Free accounts (5xx/001 - 5xx/006).

You have now met the ATO requirements to calculate the crystallised pre-July 1983 component by 30 June 2008.

Simple Invest Version 6.0 (28/05/2008) is currently available on our web site. To download the latest update, please log in to the BGL Client Centre. 

Please review the full installation instructions available from the BGL Client Centre before running this update.

In the last update we have added the new merger and demerger facilities to enable our clients to process those corporate actions in an accurate, fast and reliable way.  We have also significantly improved the Register Selection screen and the disposals deletion process. Please refer to the latest features document available in the BGL Client Centre for all new features and bug fixes available in version 6.0 dated 27th of May 2008.

We have scheduled a major Simple Invest update in the second half of the year and we encourage all Simple Invest clients to come forward with their improvement suggestions.


Tip of the Month
BGL Client Services ASX Data Feed Service was introduced in 2007. In response with client demand we have enhanced the offering by adding Managed Fund data.

Simple Invest can be enabled to automatically download licensed ASX and Managed Fund data and load the data directly into the security screen Market 1 - 10 list so users can easily revalue investments as part of the revaluation process. The process is fully integrated within Simple Invest with no third party software required. All support is handled directly by BGL Support Consultants.

To subscribe to the BGL Client Services ASX and Managed Fund Data Feed Service log in to the BGL Client Centre at clients.bglcorp.com.au and visit the 'Purchases and Upgrades' page. 

Simple Invest Version 3.0 (19/03/2008) is currently available on our web site. To download the latest update, please log in to the BGL Client Centre. 

Clients who have not updated to the latest version please note the following Important information :
Simple Ledger is required to be run from the server with a user account with administration rights to the server
You can not run this update from a workstation connected to the serve
You can not install this update with a limited user account if you are running a standalone (single user non networked PC
Nexus strongly recommends that you setup the database files on the same local drive where the database is to be installed

Simple Ledger team will be delivering a minor update in early August. The update will include further improvements to the Singapore XBRL module and enhancements to the Backup/Restore facility.

Tip of the Month
Did you know that additional freeform notes can be added to the Notes to the Financial Statements.

This feature will enable users to setup text paragraphs in the Notes to the Financial Statements. This option is currently available to all Balance Sheet accounts and we  intended add it for Profit and Loss accounts shortly to accommodate for the changing reporting requirements.

The notes text can be added in the account details and it can be set to appear before and/or after amounts in the Notes to the Financial Statements. For more information please refer to the help topic in the Account Details screen.