Sage 2015 SuperFund 2015 SuperFund User Manual
Below you will find brief information for SuperFund 2015. SuperFund 2015 is a software designed for managing superannuation funds. You can easily add and manage clients funds, investments, assets, and process transactions, and many more. It also provides standard reports for various superannuation fund operations.
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SuperFund 2015
User Manual
Important Notice!
Every effort has been made to ensure that this User Manual is accurate at the time of printing; however there may be some inaccuracies due to the continuous improvements made to the module.
An updated User Manual may be available for download from HandiSoft’s Internet site www.sagehandisoft.com.au
.
The following Licence Agreement will appear as a splash screen prior to the installation of the Software.
Licence Agreement
Important - Read Carefully: Permission to use this Software is conditional upon you, the customer, agreeing to the terms set out below. By passing beyond the splash screen, installing, copying, downloading, accessing or otherwise using the Software, you agree to be bound by the following terms. If you do not agree to the terms, do not pass beyond the screen, install, copy, download, access or otherwise use the Software but promptly return this Software and any accompanying materials to HandiSoft or its
Authorised Distributor with proof of payment, and any Licence Fee you have paid will be refunded to you.
This licence agreement may be amended or replaced in its entirety at any time to facilitate changed operating conditions. In the event this occurs, the then current licence agreement will be the prevailing version. A copy of the operating licence agreement may be accessed from within the Licences tab in any HandiSoft module.
Copyright
© HandiSoft Software Pty Ltd 2015. All rights reserved.
Copyright in the Software and in the Documentation is owned by HandiSoft Software Pty Ltd. ("HandiSoft"). No part of the Software or the Documentation may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying, recording, taping or information storage and retrieval systems) without the prior written permission of HandiSoft
Software Pty Ltd.
The copyright in the Software and the Documentation is protected by Australian national copyright laws (including the Copyright
Act 1968 (Cth)) and by international copyright treaties.
1. Words with defined meanings
1.1 Unless defined elsewhere in this Agreement, a word or expression starting with a capital letter has the meaning given to that word or expression set out in clause 15 of this Agreement.
2. Disclaimer
2.1 You acknowledge that you have sought independent professional advice in relation to the Software and Documentation, and that you are not relying on the advice or judgment of HandiSoft. To the extent permitted by law, the Software and the
Documentation are provided on the basis that:
2.2
(a)
(b)
HandiSoft, its officers, employees, contractors, agents and Authorised Distributors are not responsible for the results of any actions taken by you in reliance on information in the Software or Documentation, nor for any error or omission in the Software or Documentation;
HandiSoft, its officers, employees, contractors, agents and Authorised Distributors are not engaged in and do not represent by providing the Software and Documentation that they are providing any legal, accounting, professional or other advice or services; and
(c) HandiSoft, its officers, employees, contractors, agents and Authorised Distributors are not respo nsible for the results of any actions taken by you in reliance on information contained in any third party software or data, embedded in or provided in conjunction with the Software or Documentation, nor for any error or omission in such third party software or data.
Connected Services
In order to provide a more comprehensive offering of Handisoft Software, Handisoft discloses that there may be Third
Party Software Products or Services which are embedded into this module that may link to sources operated by other external parties (Connected Services). Notwithstanding that the Third Party may be affiliated with Handisoft, Handisoft has no control over these externally linked sources, all of which have their own separate terms and conditions including privacy and data collection practices. You will be responsible for all fees and charges associated with the Connected
Services and must do anything (including executing a document) that the external party reasonably requires giving full effect to the Connected Services and the transactions it contemplates.
3. Grant of rights
3.1
3.2
3.3
Subject to your payment of the Licence Fee, HandiSoft grants to you a non-exclusive licence ("Licence") during the Term to use the Software and Documentation at the Site, for your own internal purposes only, on the terms and conditions set out in this Agreement.
The Licence entitles a single accounting practice to install and operate the Software for one site of access only, notwithstanding it may be connected with other associated branches, affiliates and subsidiaries through a central server and/or a hosting environment, and is limited to the number of concurrent network Users specified on the Invoice and the
Software for that particular Site. You must purchase the Software for each location and site of access. In the avoidance of doubt, the Licence is Site- specific and individual accounting practice must have its own individual Licences.
If there is a limit to the number of Users of the Software, number of networks, or other restriction specified on the Invoice and in the Software, or otherwise imposed upon the Licence under this Agreement, the Licence to use the Software will be restricted accordingly. You may only increase the limits specified in the Invoice or Licence by paying such fees as are
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Licence agreement SuperFund 2015
3.4 applicable to the increased limits. No reduction of Licence Fees will be provided in the event any limits are reduced during the Term.
If your accounting practice shares offices with another unrelated accounting practice, both accounting practices must purchase the Software in their own right, even if the parties share a common computer system.
4. Duration of agreement
4.1
4.2
4.3
4.4
This Agreement commences on the date of its acceptance by you and will continue in effect until the expiry of the current financial year on 30 June ("Term"), unless extended in accordance with clause 4.2, or terminated in accordance with clauses 4.3, 4.4 or 12.
Subject to clauses 4.3 and 4.4, you may extend the Term for further one year periods by paying the then current Annual
Renewal Fee for the extended period in accordance with clause 8.
The current Annual Renewal Fee must be paid, or arrangements for payment acceptable to HandiSoft made, by the due date specified by HandiSoft for the Term to be extended.
Without limiting any other right to terminate this Agreement under clause 12, HandiSoft may terminate this Agreement upon expiry of any financial year, by giving you written notice on or before expiry of the then current financial year.
HandiSoft will not unreasonably terminate this Agreement.
5. Your obligations
5.1
5.2
You are not permitted to purchase the Software with an additional tax agent reference number for use by another tax agent without HandiSoft’s written consent.
Subject to this Agreement, and to any non-excludable provisions at law (including the Copyright Act 1968 (Cth)), you must not, and must not allow or cause any other person to:
(i) print, copy or reproduce the Software or Documentation by any means or in any form other than to make one copy of the Software for back-up and security purposes;
5.3
(ii) give, lease, rent, lend, assign (other than as expressly permitted under this Agreement), licence, sub-licence, transfer, distribute, disclose, disseminate, or publish the Software in any form to any other person or attempt to do any of these acts;
(iii)
(iv) modify, adapt, alter, reverse engineer or decompile the Software; or modify or change the database other than through use of the Software; create or recreate, or attempt to create or recreate, the source programs, object programs or any other aspect of the Software in whole or in part. access, install or use the Software other than at the Site in accordance with this Agreement; (v)
(vi) use the Software for sublicensing, timesharing, rental, facility management, service bureau usage, or third party training purpose.
You agree to indemnify and keep indemnified HandiSoft, its officers, employees, contractors, agents and Authorised
Distributors against any loss or damage incurred by them as a result of use of the Software or Documentation by you, your employees, contractors or agents that is not in accordance with this Agreement.
6. Configuration and installation
6.1
6.2
The Software may only be installed on a computer at the Site.
The Index File provided with the Software is specific to you, the Licensee. Any change will require a new Index File. You must not circumvent the Index File system needed to operate the Software, or use an index file which has not been provided to you by HandiSoft.
7. Use of software and documentation
7.1
7.2
Subject to your payment of the Licence Fee, applicable taxes and any other fees specified in the Invoice in full, upon installation of the Software pursuant to clause 6, you may use the Software and Documentation in accordance with the terms of this Agreement.
You must, upon receiving a written request from HandiSoft, allow HandiSoft to access the Site, during ordinary business hours, as reasonably necessary to audit your compliance with the terms and conditions of this Agreement and the restrictions in clauses 3 and 5.
7.3 If the Term of this Agreement is not extended in accordance with clause 4.2, the Licence will automatically terminate on the expiry of the then current Term, and you acknowledge and agree that no further notice is required to you from HandiSoft to effect such termination.
8. Fees
8.1
8.2
8.3
8.4
You must pay the Licence Fee, applicable taxes and any other fees listed in the Invoice in full.
You acknowledge that a Deposit, if taken, is non-refundable in the event that you do not pay the Balance or proceed with installation of the Software in accordance with clause 6.
The Annual Renewal Fee is invoiced annually in advance for each financial year commencing 1 July in the relevant year and ending 30 June in the subsequent year. Each year, on or before 1 July, HandiSoft may increase the Annual Renewal
Fee. You must pay the Annual Renewal Fee on or before 1 July of each year of the Term.
Without limiting any other right or remedy of HandiSoft or its Authorised Distributors, interest on overdue amounts is payable by you at the rate of 15% per annum, from the date the amount became overdue until it is paid in full, inclusive of interest. Interest accrues daily.
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9. Intellectual property rights
9.1
9.2
9.3
All Intellectual Property Rights relating to or subsisting in the Software and Documentation, including all enhancements, modifications, alterations, customisations or adaptations to the Software (whether created by HandiSoft or any other person), remain the property of HandiSoft. The Licence granted under clause 3 does not make you the owner of the
Software or Documentation nor does it cause any transfer of Intellectual Property Rights relating to or subsisting in the
Software or Documentation.
You must not alter, change, remove, obscure or otherwise effect any modification to any notice or other indication of
HandiSoft’s ownership of the Software and its Documentation or of its Intellectual Property Rights relating to or subsisting in the Software and Documentation.
You must ensure that each copy of the Software and Documentation in your possession bears such notices relating to
HandiSoft’s ownership of the Software and Documentation and of its Intellectual Property Rights relating to or subsisting in the Software and Documentation as HandiSoft may direct. In the absence of any specific direction by HandiSoft, you must ensure that all notices appearing on the Software and Documentation are reproduced and maintained in their entirety on all copies made by you.
10. Updates, software maintenance and support, and third party software and data
10.1 You acknowledge that HandiSoft has no obligation to develop Updates. During the Term you may receive Updates (if any) for the Software, including instructions and/or Documentation that HandiSoft considers reasonably necessary to assist in a smooth transition for use of any Update. Updates may include revisions to Documentation. Unless you have subscribed to the optional CD update services, you must have internet and email access for Updates to be supplied to you.
10.2 If HandiSoft provides you with an Update:
(i) the terms of this Agreement will continue to apply in all respects to the Update which will be deemed to be the
Software or Documentation for the purposes of this Agreement; ii) if requested by HandiSoft, you must return the Software and Documentation (and all copies) that was used prior to the Update to HandiSoft, or otherwise deal with it in accordance with HandiSoft’s reasonable directions.
10.3 HandiSoft may, in its absolute discretion, withhold or refuse to provide support and maintenance if you have failed to install, within a reasonable time, all available Updates provided in respect of the Software.
10.4 Technical support and Updates will only be supplied so long as the Software is used under conditions and on operating environments for which the Software is designed.
10.5 The technical support provided under this Agreement is limited to telephone and email support of the Software by
HandiSoft during normal business hours. There may be times when you allow our Support Consultant to connect to your computer remotely. The remote access is purely for the Support Consultant to quickly demonstrate tasks that would otherwise take too long to explain. Remote access is not generally used to have a Support Consultant complete processes.
Whilst all reasonable efforts shall be made to ensure a secure environment, Handisoft offer no guarantee and provide no warranty (express or implied) that the remote access to your computer will be secure or private. Handisoft accepts no liability for any and all security incidents, including any loss or damage suffered by you arising out of any failure to protect your data, network, systems, software or equipment.
10.6 If you require any additional technical support not covered under this Agreement, including telephone, onsite or online support, HandiSoft may, in its absolute discretion, provide that additional technical support to you at its then current rates for such services.
10.7 Any supplemental software code provided to you as part of the support services shall be considered part of the Software and subject to the terms of this Agreement.
10.8 You must provide HandiSoft with reasonable assistance as requested by HandiSoft for the purpose of providing you with maintenance and support.
10.9 If, in the course of obtaining maintenance and support services from HandiSoft, you provide any personal information about an individual, including, personal information about any officer or employee, then you warrant that in providing such personal information you have complied with your legal obligations under the Privacy Act 1988 (Cth.), including the
National Privacy Principles in Schedule 3 of that Act.
10.10 You consent to HandiSoft using any technical or confidential information which you provide to it:
(i) to enable HandiSoft to perform maintenance and support services; and
(ii) for its business purposes, including for the purpose of product support and development.
HandiSoft agrees not to use such technical information in a form that personally identifies you, or where such information is comprised of information identified by you as ‘confidential’ or subject to privacy laws, prior to consent being provided by you.
10.11 HandiSoft is not required to support any third party software or data, whether or not the third party software or data is provided by HandiSoft in connection with your use of the Software.
10.12 If HandiSoft provides you with any third party software or data, then your use of that third party software or data is subject to such terms as may be imposed by the relevant third party and must only be used for the purposes for which it is provided.
10.13 You agree that HandiSoft is not liable or otherwise responsible if a third party changes the terms (including as to payment) on which it licences any software or data. Without limiting the foregoing, it is your responsibility to pay any fees associated with your use of such third party software or data.
10.14 Notwithstanding any other provision of this Agreement, you agree to indemnify and keep indemnified HandiSoft, its officers, employees, contractors, agents and Authorised Distributors against any third party claim or action (including but not limited to reimbursement of legal costs), loss, damage, or expense incurred by them as a result of a failure by you, your employees, contractors or agents to comply with this clause 10.
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Licence agreement SuperFund 2015
11. Warranties and limitation of liability
11.1 HandiSoft warrants that:
(i) it has the full right, power and authority to enter into and perform this Agreement; and
(ii) to the best of its knowledge, the use by you of the Software or Documentation in accordance with this Agreement, will not infringe the Intellectual Property Rights or moral rights of any person, and HandiSoft indemnifies and agrees to keep you indemnified from and against any loss, damages and expenses, including but not limited to, reasonable legal fees which you may suffer and incur as a result of any claim, action or proceeding arising directly from any breach of the warranty contained within this clause, provided that HandiSoft is not liable for any indirect, consequential or economic loss or damage suffered by you in connection with this Agreement.
11.2 You acknowledge that:
(i) the Software was developed without consideration of your objectives and needs; and
(ii) software in general is not error-free, and agree that the existence of errors in the Software will not constitute a breach of this Agreement by HandiSoft.
11.3 HandiSoft provides the Software and Documentation "as is".
11.4 Except as expressly provided in this Agreement, no warranties are made with respect to the Software or Documentation by any person, including but not limited to HandiSoft, any of its officers, employees, contractors, agents and Authorised
Distributors.
11.5 In the event any third party software or data is provided with or embedded in the Software, notwithstanding anything to the contrary, no warranties are made by HandiSoft, its officers, employees, contractors, agents, or Authorised Distributors, with regard to such third party software or data, including but not limited to its accuracy or reliability.
11.6 To the extent permitted by law, HandiSoft or any of its officers, employees, contractors, agents or Authorised Distributors will not be liable to you for any loss, costs, expenses or damages incurred by you as a result of using the Software and
Documentation.
11.7 Notwithstanding any other term in this Agreement, to the extent that consumers have the benefit of certain rights or remedies under the Trade Practices Act and similar state and territory laws in Australia, in respect of which liability may not be excluded, then to the maximum extent permitted by law, such liability is limited, at HandiSoft’s option, to:
(i) in the case of the Software, Documentation or other goods supplied under this Agreement:
A. replacement of the goods; or
B. correction of defects in the goods; or
C. the cost of having defects in the goods corrected; or
(ii) in the case of services provided under this Agreement, replacement of the services.
11.8 To the extent permitted by applicable law, HandiSoft or any of its current or former officers, employees, contractors, agents or Authorised Distributors (Those Indemnified) will not be liable for any direct, indirect, general, special, incidental or consequential damages arising out of or in any way related to the provision of any goods or services by HandiSoft or
Those Indemnified, pursuant to this Agreement and including your use of or inability to use the Software or Documentation, even if HandiSoft or any of Those Indemnified have been advised of the possibility of such consequence.
11.9 You acknowledge that any times quoted for delivery and installation of the Software and/or performance of maintenance and support services are estimates only, and that HandiSoft accepts no liability whatsoever for failure to meet those estimated times.
11.10 You acknowledge that you are responsible for ensuring that your operation of the Software does not breach any laws, or obligation of confidentiality or privacy owed to any person, and for maintaining the security of any databases which are accessed, used or managed by the operation of the Software. You indemnify and keep indemnified HandiSoft against any action, proceeding, claim, loss, injury or expense arising out of any failure by you to comply with your obligations in this clause
12. Termination
12.1 This Agreement may be terminated immediately by written notice from HandiSoft in any of the following circumstances:
(i) if you are in breach of any term of this Agreement;
(ii)
(iii)
(iv)
(v) if you, being a corporation, become the subject of insolvency proceedings; if you, being a firm or partnership, are dissolved; if the Software is otherwise outside your effective control; or if there is a change in ownership which effectively alters control of you.
12.2 You may terminate this Agreement by notice in writing to HandiSoft in the event that HandiSoft has breached a material term of this Agreement and failed to rectify such breach within 30 days of a notice requesting HandiSoft to do so.
12.3 Upon termination of this Agreement:
(i) the Licence is revoked; and
(ii) you must immediately pay all fees, charges or other payments owing under this Agreement; and
(iii)
(iv) you must either destroy or return any remaining copies of the Software and Documentation, in the manner directed by HandiSoft; and you hereby grant HandiSoft a licence to enter upon the Site(s) at which copies of the Software and Documentation may be situated and remove same in the event of non-compliance with the above subclause, and you must render all reasonable assistance to facilitate this action.
12.4 Termination of this Agreement will be in addition to any other remedies which either party may have under this Agreement or otherwise and does not affect any rights or obligations that had accrued at the time of termination.
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SuperFund 2015 Licence agreement
13. Governing law and jurisdiction
13.1 This Agreement and the transactions contemplated by this Agreement are governed by the law in force in Western
Australia.
13.2 Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of Western Australia and courts of appeal from them.
14. General
14.1 If you purchase any additional modules of the Software from HandiSoft, increase the limits under clause 3.3 of this
Agreement, or if HandiSoft otherwise agrees to alter the configuration of the Software, then the terms of this Agreement will continue to apply to your use of the Software as reconfigured.
14.2 You acknowledge that in entering into this Agreement you have not relied on any representations or warranties about its subject matter except as expressly provided by this Agreement.
14.3 This Agreement constitutes the entire agreement of the parties about its subject matter and supersedes all previous agreements, understandings and negotiations on that subject matter.
14.4 You may assign your rights and obligations under this Agreement with the prior written consent of HandiSoft, provided that the assignee executes a deed of novation pursuant to which it agrees to be bound by the terms of this Agreement..
14.5 A party may exercise a right, power or remedy at its discretion, and separately or concurrently with another right, power or remedy. A single or partial exercise of a right, power or remedy by a party does not prevent a further exercise of that right, power or remedy or an exercise of any other right, power or remedy. Failure by a party to exercise or delay in exercising a right, power or remedy does not prevent its exercise. A party is not liable for any loss caused by the exercise or attempted exercise of, failure to exercise, or delay in exercising the right, power or remedy.
14.6 A provision of, or a right created under this Agreement may not be waived or varied except in writing, signed by the party or parties to be bound.
14.7 The rights, powers and remedies provided in this Agreement are cumulative with and not exclusive of the rights, powers or remedies provided by law independently of this Agreement.
14.8 Neither party is liable for any breach of its obligations under this Agreement (other than an obligation to pay any moneys or to indemnify) if the breach resulted from a cause beyond its reasonable control.
14.9 If any provision of this Agreement is held to be invalid, unenforceable or illegal for any reason, this Agreement will remain otherwise in full force apart from such provision which will be deleted.
14.10 Each indemnity in this Agreement is a continuing obligation, separate and independent from the other obligations of the parties and survive the termination of this Agreement.
14.11 Clauses 2, 5, 9, 10, 11, 12, 13, 14, and any other clause which by its nature is intended to continue, shall survive the termination of this Agreement for any reason.
15. Definitions and interpretation
15.1 The following words have these meanings in this Agreement unless the contrary intention appears.
Agreement means this Agreement as it may be amended from time to time by written agreement between the parties.
Annual Renewal Fee means the fee designated as such in the Invoice, as amended by HandiSoft from time to time in accordance with clause 8.3.
Authorised Distributor means an entity appointed by HandiSoft to maintain and support the Software and
Documentation.
Balance means the residue of the Licence Fees payable after the deduction of the Deposit.
Deposit means the agreed amount of the Licence Fees initially payable in accordance with the Invoice..
Documentation means all manuals, handbooks, and other material, whether in hard copy or electronic form, in relation to the Software and its use, and provided by HandiSoft under this Agreement.
Licence Fees means the total fees specified in the Invoice.
HandiSoft means HandiSoft Software Pty Limited ABN 91 089 780 218.
Intellectual Property Rights means all intellectual property rights of whatever nature including all rights conferred under statute, common law or equity, including, without limitation, all copyrights, patent rights, trade mark rights, design rights, trade secrets, and all other intellectual property as defined in Article 2 of the Convention Establishing the World Intellectual
Property Organisation of July 1967.
Licence Fee means the fee designated as such in the Invoice.
Index File is an unlock key which allows access to the nominated Software modules and specified number of concurrent network Users to access the Software.
Invoice means HandiSoft’s or the Authorised Distributor’s standard form invoice as sent to you in relation to your ordering of the Software or Updates.
Site means the geographical location of access address specified in the Invoice.
Software means the object code version of the suite of computer programs known as the ‘HandiSoft Software’, as detailed in the Invoice and includes any Updates provided to you under this Agreement.
Updates means an executable file that modifies the Software by correcting bugs or errors, or by making minor improvements to the functionality of the Software, and includes new versions of the Software which HandiSoft generally makes available to licencees of the Software that have entered into an agreement with HandiSoft and paid the relevant
Annual Renewal Fee. Updates do not include any new products, including new products based on the Software, which are licensed separately, and for which an additional charge, separate to the Annual Renewal Fee, is payable.
User means a person accessing any part or all of the Software at any given point in time. For the avoidance of doubt, any background tasks created or spawned by an individual user is not to be treated as a separate user. If, however, a
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Licence agreement SuperFund 2015
background task or process created by a particular individual user is still running then that individual user is deemed to be accessing the Software at that point in time.
15.2 In this Agreement unless the contrary intention appears:
(i)
(ii)
(iii) the singular includes the plural and vice versa; a reference to a statute, ordinance, code or other law includes regulations and other instruments under it and consolidations, amendments, re-enactments or replacements of any of them; and a reference to "you" is a reference to the customer specified in the Invoice.
15.3 Any marginal notes or headings are included for convenience and do not affect the interpretation of this Agreement.
Information regarding additional agents
To protect your interests we wish to clarify several situations where you need to exercise care:
The licence entitles a single accounting practice to install and operate the Software for one site of access. At that one site of access, you may operate the Software at the same time subject to the limits of the total number of concurrent network user licences you have purchased for use during the Term. To clarify:
You must purchase the nominated Software for each site of access. For example, if you had two branches (Sydney and
Melbourne) and the software was installed only at Sydney, and the Melbourne branch remotely accesses the Sydney installation, then you must purchase the nominated Software twice.
If your practice shares offices with another accounting practice, and the practices are not in partnership, both accounting practices must purchase the nominated Software in their own right. This is the case, even where you share a common computer system.
Where a client purchases an additional tax agent reference number, this is not an additional licence. It is simply an addition to your program to lodge tax returns under another tax agent name and number. It in no way allows you, the licence holder, to give a copy of the Software to the additional tax agent. You are not permitted to purchase the Software with an additional tax agent reference number for use by another tax agent without Sage's written consent.
Connected Services Terms of Use
By accessing or using HandiSoft’s Connected Services, you acknowledge and accept the following Terms of Use.
Handisoft may at any time amend this Terms of Use and the Licence Agreement without notice.
Disclaimer
Handisoft does not represent or warrant that the above Connected service (herafter “Service”) or the Customer's use thereof will be uninterrupted or error-free, that defects will be corrected, or that the Service or the server that makes it available are free of viruses or other harmful components.
Handisoft does not warrant or represent that the use or the results of the use of the Service or the materials made available, as part of the Service will be correct, accurate, timely, or otherwise reliable.
Handisoft shall not be responsible for unauthorised access to or alteration of transmissions or data, any material or data sent or received or not sent or received, or any transactions or agreements entered into through the use of the Service.
The Customer specifically agrees that Handisoft is not responsible for any content or data sent using and/or included in the
Service.
Handisoft and/or its suppliers, shareholders, directors and employees make no representations about the suitability, reliability, availability, timeliness, security and accuracy of the Service for any purpose. The Service is provided "as is" and without warranty of any kind. Handisoft hereby disclaims all warranties and conditions with regard to the Service, including all implied warranties, fitness for a particular purpose, title and non-infringement.
In no event shall Handisoft and/or its suppliers, shareholders, directors and employees be liable for any direct, indirect, punitive, incidental, special, consequential damages or any damages whatsoever including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with the use or performance of the Service, with the delay or inability to use the Service, the provision of or failure to provide the Service, whether based on contract, tort, negligence, strict liability or otherwise, even if Handisoft has been advised of the possibility of such damages. The Customer's sole and exclusive remedy is to discontinue using the Service
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Contents
History of changes 11
Chapter 1.
Installing and configuring SuperFund 2015 13
Chapter 2.
The Client database 27
Chapter 3.
Adding and changing funds 35
Chapter 4.
Managing assets 61
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Contents SuperFund 2015
Chapter 5.
Maintaining data 99
Chapter 6.
Transactions 107
Chapter 7.
General Ledger 137
Chapter 8.
Reports 141
Superannuation terms
Index
145
151
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History of changes
Changes made
The following changes have been made to this manual:
Version released 21 September 2015
Added information on employer in-specie expense payments .
Version released 15 June 2015
First release of 2015 version.
Version released 11 March 2015
Updated information on claimable and payable GST.
Added information on the Members Contributions report.
Added information on cancelling insurance policies .
Version released 19 December 2014
Added information on the Client Portal .
Version released 13 October 2014
Updated images and descriptions.
Updated the EULA to include HandiSoft Connect.
Added information on HandiSoft Connect.
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Chapter 1. Installing and configuring
SuperFund 2015
SuperFund 2015 is a practice-level program for preparing compliance accounts for nonreporting self-managed superannuation funds.
SuperFund 2015 has been designed specifically for integration with HandiTax 2015 and
HandiLedger 2015.
SuperFund 2015 enables you to do the following:
Determine Account Based, Allocated or Market Linked Pension minimum and maximum values and deductible amounts.
Reconcile and control all movements in each member's Preserved, Restricted Nonpreserved and Unrestricted Non-Preserved accounts, as required by legislation.
Integrate with HandiLedger to produce journal entries for members’ account distributions, members’ additional information journals and tax reconciliation notes.
Prepare Net Market values of all types of Investments, including Real Property valuations.
Check statutory compliance areas - Investment Strategy, SGC compliance, contribution deductibility rules, contribution limit rules, In-house assets, Lifetime CGT Caps.
Integrate with HandiTax to prepare the Superannuation Fund income tax returns, supporting
Trust Distributions, Interest, Dividends, Franking Credits, Foreign tax credits, Tax Rebates,
TFN credits and PAYG instalments.
Calculate “Eligible Service Period” data for members up to crystallisation date (Year ended
30th June 2007).
The HandiSoft Software Suite shares client information and transaction data between programs.
For example, if a client changes their address, you record the new address in only one program
– all other programs update instantly.
You should upgrade SuperFund 2015 annually to ensure that:
Your practice complies with any legislative changes.
You can transfer accounting information into the current year taxation forms.
You are able to obtain software support.
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Chapter 1. Installing and configuring SuperFund 2015 SuperFund 2015
Running SuperFund 2015
To run the SuperFund 2015 program, double-click on the desktop icon. The "Starting
SuperFund 2015" window will open for you to log in as a user.
Closing SuperFund 2015
When you have finished using SuperFund 2015 you can use either of the following methods to exit the program.
From the Fund menu, click Exit.
Click the window close button on the top right corner.
Configuring SuperFund 2015
If this is the first time your practice has used SuperFund 2015, you must configure the program before entering any data.
If your practice has previously used SuperFund 2015, we recommend that you check the configuration settings that are discussed in the following sections.
SuperFund 2015 program information
The "About SuperFund 2015" window displays license and version information about the
SuperFund 2015 program you have installed. You can use it to check whether you are running the latest version of SuperFund 2015.
Opening the "About SuperFund 2015" window
From the Help menu, click About. The "About SuperFund 2015" window will open.
Changing screen colours:
You can change the colours of the screen settings to suit your display settings.
1. From the Options menu, click Customise Colours. The program will open the “Controls
Colour Setup” window.
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Figure 1: The "Controls Colour Setup" window
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SuperFund 2015 Menu descriptions
The “Controls Colour Setup” window allows you to specify the colours for the following areas:
Option
Row Colours
Gridlines
Other
Description
Select Enable row colouring to have background colours for rows in tables.
The Colour1 and Colour2 fields specify the background colours for alternate rows in tables.
Select Horizontal to have gridlines between rows in tables, and Vertical to have gridlines between columns in tables.
The
Colour field specifies the colour for the gridlines.
The Focused field option specifies the colour for the currently selected data entry field.
The Icon bar option specifies the background colour for the Access Panel.
The Application background option specifies the background colour for the HandiSoft program.
The Application background option specifies the background colour for the HandiSoft program.
2. Set the screen colours as required. To do this, click the button next the relevant field, and select the colour from the “Colour” window.
The
Preview area will show you how the new colours would appear.
3. If necessary, click
Load Default to revert the colours back to the original settings.
4. Click
OK to confirm the new colour settings and close the “Controls Colour Setup” window.
The colours have now been set up for the logged in user.
Menu descriptions
Fund menu
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Figure 2: The Fund menu
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Chapter 1. Installing and configuring SuperFund 2015
Option
Select a Fund
Add a New Fund
Reselect a Fund
Fund Setup
Balances Carried
Forward
Actuary Percentage
Deferred Tax
Investment Strategy
Next Years Details
Prior Years Details
Close the Year
Re-open the Year
Users
Exit
Description
Opens the “Select a Fund” window for you to select a fund and year for further processing.
Opens the “Add a new Fund” window for you to add a new fund to the database.
Displays a list of funds and years that you have selected during this session, and enables you to quickly reselect one.
Opens the “Fund Opening Setup” window for you to set up the opening values for the selected fund. This is intended for adding existing funds that were created in previous years. It is not available if you are setting up a new fund in the current year.
Opens the “Opening Balances as at” window showing the balances brought forward from the previous year.
Enables you to view and set up the actuary percentage for the selected fund.
Opens the “Deferred Tax” window for you to view and enter details of any deferred tax for the selected fund.
Opens the “Investment Strategy” window for you to view and set up the investment strategy for the selected fund.
Moves to the next financial year for the selected fund.
Moves to the previous financial year for the selected fund.
Closes the currently selected year for the selected fund.
Re-opens the currently selected closed year for the selected fund.
Opens the “Users” window for you to manage SuperFund 2015 userfs.
Exits from the SuperFund 2015 program.
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SuperFund 2015
Members menu
Option
Members
Pensions
Member allocations
Insurance Policies
Assets menu
Figure 3: The Members menu
Description
Opens the “Fund Members” window for you to add, view and edit details of the selected fund’s members.
Opens the “Pensions” window for you to add, view and edit details of pensions being received by the members of the selected fund.
Opens the “Member Allocations” window where you can specify how the fund earnings are to be allocated to the members.
Enables you to view, add and edit details of insurance policies held by the selected fund.
Menu descriptions
Option
Accounts
Figure 4: The Assets menu
Description
Enables you to view, add and edit details of the following accounts held by the selected fund.
Bank Accounts
Term Deposits
Loans to others
Loans from others
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Chapter 1. Installing and configuring SuperFund 2015
Financial Investments
Enables you to view, add and edit details of the following financial investments held by the selected fund.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Property/Real Estate
Partnerships
Other Financial Assets
Enables you to view, add and edit details of non-specific financial assets held by the selected fund.
Opens the “Property” window for you to add, view and edit details of real estate property owned by the selected fund.
Artwork, Collectables,
Metals or jewels
Opens the “Artwork, Collectables, Metals or
Jewels” window for you to add, view and edit details of artworks and collectables owned by the selected fund.
Other Physical Assets
Opens the “Other Physical Assets” window for you to add, view and edit details of nonspecific physical assets owned by the selected fund.
Instalment Warants
Opens the “Instalment Warrants” window for you to add, view and edit details of instalment warrants raised for acquiring assets.
Revaluation
Enables you to add, view and edit details of revaluations for financial investments and artworks collectables, metals or jewels held by the selected fund.
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SuperFund 2015
Transactions menu
Menu descriptions
Option
Bank Statements
Expenses
Repayments for Loans from Others
Contributions
Contribution Splitting
Benefits
Interest
Figure 5: The Transactions menu
Description
Opens the “Bank Statement Entry/Import” window for you to enter and import bank statements. The bank statement entries can then be processed as transactions.
Enables you to add, view and edit details of expenses incurred by the selected fund in the following areas:
General
Pensions
Insurance Premiums and Fees
Opens the “Loans from Others - Loan
Repayment” window for you to add, view and edit details of repayments of loans from others.
Opens the “Contributions” window for you to add, view and edit details of contributions made by the members of the selected fund.:
Opens the “Contribution Splitting” window for you to add, view and edit details of contributions split between the members of the selected fund.
Opens the “Benefits” window for you to add, view and edit details of benefits received from members of the selected fund.
Enables you to view, add and edit details of interest earned by the selected fund from the following:
Bank Accounts
Term Deposits
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Chapter 1. Installing and configuring SuperFund 2015
Dividends
Enables you to view, add and edit details of dividends received by the selected fund from the following share holdings:
Listed Companies
Trust Distributions
Unlisted Companies
Enables you to view, add and edit details of distributions received by the selected fund from the following trusts:
Listed Trusts
Managed Fund
Distributions
Partnership
Distributions
Rental Income
Unlisted Trusts
Enables you to view, add and edit details of distributions received by the selected fund from the managed funds.
Enables you to view, add and edit details of distributions received by the selected fund from partnerships.
Opens the “Rental Income” window for you to view, add and edit details of rents received from properties owned by the selected fund.
Other Income
Opens the “Income – Other Financial
Assets”, “Income – Artwork, Collectables,
Metals or Jewels” or “Income – Other
Physical Assets” window for you to view, add and edit details of income received from assets owned by the selected fund
Return of Capital
Opens the “Shares in Listed Companies -
Return of Capital” “Shares in Unlisted
Companies - Return of Capital”, “Units in
Listed Trusts - Return of Capital” “Units in
Unlisted Trusts” - Return of Capital”,
“Managed Funds - Return of Capital” or
“Partnerships - Return of Capital” window for you to view, add and edit details of capital returns.
Tax Payments/Refunds Opens the “Tax Payments &Refunds” window for you to add, view and edit details of tax payments and refunds made or received by the selected fund.
Repayments for Loans to Others
Opens the “Loans to Others - Loan
Repayment” window for you to add, view and edit details of repayments of loans to others.
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SuperFund 2015
Asset Additions
Opens the “Property Additions” or “Additions
– Other Physical Assets” window for you to add, view and edit details of additions made to properties or other physical assets owned by the selected fund.
Menu descriptions
Ledger menu
Option
Chart of Accounts
GL Transactions
Account Setup
Figure 6: The Ledger menu
Description
Opens the “Chart of accounts” window for you to add, view and edit the selected fund’s
Chart of Accounts.
Opens the “Transactions” window for you to view and edit details of transactions made by the selected fund.
Opens the “HandiLedger Account Setup” window for you to select the accounts for the selected fund to which transactions will be posted to HandiLedger.
Reports menu
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Figure 7: The Reports menu
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Chapter 1. Installing and configuring SuperFund 2015
Option Description
Cash Book
Generates a report showing cash book entries for the selected fund during the current financial year.
Expenses
Generates a report that provides a summary of the expenses for the selected fund during the current financial year.
Purchases and
Disposals
Generates a report that lists all the purchases and disposals by the selected fund during the financial year.
GST Reconciliation
For funds registered for the GST , this report
lists all the payable and claimable GST amounts.
PAYG Witholding
Reconciliation
Generate a report that reconciles the PAYG withholding liability against PAYG amounts withheld.
Investment Income
Unrealised Capital
Gains
Generates a report showing the income from investments held by the selected fund.
Realised Capital Gains
Generates a report showing capital gains from that have been realised in investments by the selected fund.
Generates a report showing capital gains that have not yet been realised in investments by the selected fund.
Investment Summary
Generates a report summarising the investments held by the selected fund.
Investment Class
Summary
Generates a report summarising the investment classes held by the selected fund.
Investment Strategy
Generates a report showing the percentage of investment in each investment class.
TFN Credit
Generates a report listing the Tax File
Number credits for the selected fund.
Imputation Credit
Generates a report listing the Imputation credits for the selected fund.
Foreign Tax Credit
Members Statements
Generates a report listing the Foreign Tax credits for the selected fund.
Generates a report showing details of a selected member or all members of the selected fund.
Members Contributions Generates a report listing details of contributions to the fund by a selected member or all members.
Tax Reconciliation
Generates a report that reconciles the tax payments and receipts for the selected fund.
Note: The Tax reconciliation Report now includes Excess Contribution Tax provisions.
Accounting Profit
Breakdown
Generates a report that details the profit made by the selected fund.
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SuperFund 2015
Distribution Errors
Opening Balances
Client Notes Report
Saved Reports
Options menu
Generates a report that identifies potential errors in the way distribution data from
Managed Funds and Trusts has been entered.
Generates a report showing the selected fund’s opening balances for the year.
Generates a report showing the notes attached to all or selected clients.
Opens the “Saved Reports” window for you to edit and preview previously saved reports.
Menu descriptions
Figure 8: The Options menu
Option Description
Investment Categories
Opens the “Investment Categories” window for you to allocate a target percentage of the investments to each category.
Customise Colours
Opens the “Controls Colour Setup” window for you to customise the window colours.
Client Note Types
Fonts
Page Setup
Opens the “Client Note Types” window for you to create and edit client note types.
Opens the “Fonts” window for you to set up font styles for reports and documents.
Opens the “Page Setup” window for you to configure the page and print setting for printed documents and reports.
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Chapter 1. Installing and configuring SuperFund 2015
Tools menu
SuperFund 2015
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Figure 9: The Tools menu
Option
ASX Codes
APIR Codes
Import ASX Closing
Values
Change ASX Codes
BankLink Import
Bank Statement Search
Terms
Export Fund Data to
HandiTax
Transfer Selected Fund
Data Out
Transfer Fund Data In
Client Details
Calculator
Description
Opens the “ASX Codes” window for you to view and edit the Australian Stock Exchange codes and prices for listed companies and trusts.
Opens the “APIR Codes” window for you to view and edit the Asia Pacific Investment
Register codes for managed investments.
Opens an import window for you to load a file containing the ASX closing values.
Enables you to change the ASX codes for shares in listed companies and units in listed trusts held by the fund.
Enables you to import transactions from a
BankLink XML file to the fund.
Opens the “Auto-code Search
Words/Phrases” window for you to view, add and edit search words and phrases used by
SuperFund 2015 to automatically code imported bank transaction entries.
Creates a file with the fund data, which is detected and used by HandiTax to enter information in tax returns.
Creates a .zip file with files containing the selected fund’s data, which can be saved to a specified location or attached to an email.
Enables you to import files containing a fund’s data from a specified .zip file into
SuperFund 2015.
Opens the “Clients” window that lists all the clients in your HandiSoft client database.
Opens the calculator.
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SuperFund 2015
Help menu
Send Email Message
Document Manager
Jobflow Manager
Reindex or Rebuild
Database Files
Opens an email window for you to send an email.
Runs the Document Manager if you have it installed.
If you have Practice Manager installed, runs
Jobflow Manager.
Re-indexes or rebuilds the database
Menu descriptions
Option
Help Topics
Online Support
Online Education
View Release Notes
About
Figure 10: The Help menu
Description
Opens the online help window.
Directly access the HandiSoft website
Knowledge Base and HandiHints areas.
Send a standard email to HandiSoft Support.
Directly access the HandiSoft website
Training and Professional Services areas.
Displays the release notes for the program.
Opens the “About SuperFund 2015” window, which provides program version and licensing information.
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Chapter 2. The Client database
The Client database, which is shared by all HandiSoft programs, records details of your firm's clients. If a client changes their address, you need only to record that change in one HandiSoft program because all HandiSoft programs automatically update to reflect the change.
When you add a fund to SuperFund 2015, you create a record in the Entity database, which is also accessed by HandiLedger 2015. However, if you want to use data from SuperFund 2015 in
HandiTax 2015, there must also be a record in the Client database.
Opening the Client database
To open the Client database:
From the Tools menu, click Client Details. The "Clients" window will open.
Figure 11: The "Clients" window
The "Clients" window displays a summary view of the Client database, listing each client on a single line.
If the client has been tagged, the entry will be displayed in bold text.
Tip: You can use the Ref, Name and TFN columns to order your data. For example, if you want to list the clients in TFN order, click the TFN… heading.
To see more details on a specific client, highlight the client and then click View to open the
"Clients Detail" window.
Tip: For information on the fields in the "Clients" window, press F1 to display the online help.
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Chapter 2. The Client database SuperFund 2015
Listing selected clients
When you enter or edit clients in the “Clients Detail” window, you can allocate them to a specific
Partner, Manager, Staff member and Office. You can also indicate whether the client is current or not.
When you list the clients in the "Clients" window, you can use the
Client Type field to display only those clients who are current or those who are not. You can use the ID Type and ID
Member fields to display only those clients that have been allocated to a specific Partner,
Manager, Staff member or Office.
For more information, please refer to the "Advanced Features 2015" manual.
Finding and ordering clients
You can go directly to a client in the "Clients" window by clicking the
Find button. This will open the "Find/Order" window, which you can also use to change the order in which the clients are listed in the "Clients" window.
Figure 12: The "Find/Order" window
To find a client
1. On the "Clients" window, click the Find button to open the "Find/Order" window.
2. On the upper part of the window, select the client area on which you want to search. You can use your up and down arrow keys to move through the selection.
3. In the Find field, type the search text. As you type the initial characters, SuperFund 2015 will highlight the first client matching the search text.
4. Click OK to close the "Find/Order" window when you have completed the search.
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SuperFund 2015 Using the "Clients Detail" window
To order the clients
1. On the "Clients" window, click Find to open the "Find/Order" window.
2. On the upper part of the window, select the client area on which you want the clients ordered in the "Clients" window. You can use your up and down arrow keys to move through the selection.
3. Click OK to close the "Find/Order" window.
Using the "Clients Detail" window
The "Clients Detail" window displays detailed information on a client.
To access the "Clients Detail" window:
1. From the Tools menu, click Client Details to open the "Clients" window.
2. Highlight the relevant client and then click View. The "Clients Detail" window will open.
Figure 13: The "Clients Detail" window
Tip: The View button toggles between the “Clients” and the "Clients Detail" window. For example, if you click View from within the "Clients Detail" window, you will be returned to the
"Clients" window.
Tip: For information on the fields in the "Clients Detail" window, press F1 to display the online help.
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Chapter 2. The Client database SuperFund 2015
Adding a new client
If you have not already added a client to the Client Database in another HandiSoft program (for example, HandiTax 2015), you can add it in SuperFund 2015 as follows:
1. From the Tools menu, click Client Details to open the "Clients" window.
2. Click New.
3. Complete the "Clients Detail" window, and then click Save.
Note: After adding a client, you will still have to add the fund in SuperFund 2015. Refer to
Chapter 3, “Adding and changing funds”.
Copy details from another client
If you are adding a client that has the same address, phone number and email information as an existing client, you can use the Copy details button to speed up your data input.
1. On the “Clients Detail” window, complete the Details fields.
2. Click Copy details and then, on the “Attention” window, click OK.
3. On the “Client selection” window, highlight the client from which the details are to be copied.
4. Click Select.
5. On the “Clients Detail” window, the Addresses, Phone Numbers and Email Addresses fields will be automatically completed.
Accessing the Client Portal
The Client Portal provides a secure and convenient way of transferring documents between you and your clients.
To manage a client’s access to the Client Portal, on the “Clients Detail” window, in the
Client
Portal field click to open the “Client Portal Configuration for” window.
For more information on the Client Portal, see the Document Manager User Manual.
Recording a client note
Within the Client database, you are able to attach notes to the clients. The information that you can include in a client note is unlimited. For example, you may want to record the date you received financial information from a client, or information relating to the client’s proposed business venture.
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SuperFund 2015 Recording a client note
Add a client note
1. From the View menu, click Client Details.
2. On the "Clients" window, highlight the client.
3. Click Notes. The "Client Notes For" window will open, listing the notes currently attached to the client.
Figure 14: The "Client Notes For" window
Note: You can also add notes to a client by clicking Notes on the “Clients Detail” window.
4. Click New to open the “Client Note” window.
Figure 15: The "Client Note" window
5. Enter details of the note, and then click Save and Close.
Tip:When you enter a note, you assign a specific Note Type. This makes it easier to search for notes.
Adding and editing client note types
When you create a client note, you can assign a note type to it. This enables you to filter notes by their note type.
The following default note types are available:
Invoicing
JobFlow
Superannuation
Tax
General
Consulting
Debtors
In addition to the default types, you can also create, edit and delete your own custom note types.
1. From the
Options menu, click Client Note Types to open the “Client Note Types” window.
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Chapter 2. The Client database SuperFund 2015
Figure 16: The "Client Note Types" window
2. To add a new note type, click
Add. On the “Add Note Type” window, enter a name for the new note type.
3. To edit or delete an unused custom note type, highlight the note type, and click Edit or
Delete.
4. If required, you can change the order in which the note types are listed by highlighting a note type and clicking the blue arrows to move it up or down.
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SuperFund 2015 Sending SMS messages to clients
The Client Notes report
You can generate a report that lists that lists notes attached to all or specified clients.
1. From the Reports menu, click Client Notes Report to open the “Client Notes Report” window.
Figure 17: The "Client Notes Report" window
2. Complete the fields to specify the client notes to be included.
3. Click Query to run the report.
Sending SMS messages to clients
If you have purchased the optional HandiSoft Notify SMS module, you can send SMS messages to clients with a recorded mobile telephone number.
1. From the Tools menu, click Client Details to open the “Clients” window.
2. Highlight the client to be the recipient of the SMS message.
3. Click
View to open the “Clients Detail” window.
4. Under
Phone Numbers, highlight the required mobile number and click SMS.
5. Complete the “SMS Message window fields as required and click Send to send the SMS message.
For more information on SMS messaging, refer to the “HandiSoft Advanced Features 2015” manual.
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Chapter 2. The Client database SuperFund 2015
Client extra details
If you have the Practice Manager program installed, you can store and retrieve additional client information from all your HandiSoft programs.
Figure 18: The "Client Extra Detail" window
For more information on the Client Extra Details facility, please refer to the "Advanced Features
2015" manual.
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Chapter 3. Adding and changing funds
This chapter describes how you would add new superannuation funds and edit existing ones.
Adding a superannuation fund
The following procedures describe how you would add a Super fund to SuperFund 2015 and import existing balances.
Adding fund details
1. From the
Fund menu, click Add a New Fund to open the “Add a New Fund” window.
Figure 19: The "Add a New Fund" window
2. If you want the fund to have a corresponding record in the Client database, click in the
Reference Field and select the client. If there is no existing client, you can add one . See
Chapter 2, “The Client database”.
Caution: If you create a fund without a corresponding record in the Client database,
HandiTax 2015 will not be able to use fund data exported from SuperFund 2015.
3. Complete the remaining fields as required.
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Chapter 3. Adding and changing funds SuperFund 2015
Tip: For information on the “Add a New Fund” window fields, press F1 to access the online help.
4. Click Save.
5. On the “Select a master chart” window, select the “Chart of Accounts” for the new fund.
Registering for the GST
If the fund is registered for the GST, and can claim a refund for GST paid.
On the “Add a New Fund” window, under Year Details, select the Registered for GST check box. This will enable the GST Payable and GST Claimable fields in the SuperFund 2015 transaction windows.
During data entry, SuperFund 2015 will take 1/11th of the cost (cost, purchase fee, disposal fee, expense, etc) and automatically enter it into the GST Claimable or GST Payable field.
Note: In many cases the fund can only claim 75% of the GST paid. Therefore, even though
SuperFund 2015 fills the GST Claimable field with 100% of the GST, you will need to determine what amount the fund is entitled to claim and adjust the value accordingly.
Setting up an existing fund
After you have added an existing fund, the “Fund Opening Setup” window will open for you to enter details of members and assets.
The Fund Setup balance date is now locked to the day before the first year starting date.
Note: This window is only available if you are setting up an existing fund that has a commencement date before the currently selected year. It is not used for setting up new funds.
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Figure 20: The "Fund Opening Setup" window
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SuperFund 2015 Setting up an existing fund
Entering opening balances
1. On the “Fund Opening Setup” window, highlight Carried Forward Balances and click
Setup to open the “Opening Balances” window.
Figure 21: The "Opening Balances" window
2. Enter any carried forward tax losses, capital losses and foreign tax losses.
3. Click
Save and then Close.
Adding member details
1. On the “Fund Opening Setup” window, highlight Member Details and click Setup to open the “Fund Members” window.
2. Click New to enter details of a fund member.
3. Complete the “Member Details” window and click Save.
Figure 22: The “Member Details" window
4. To add more members, click New, enter their details and click Save.
Tip: For information on the “Member Details” window fields, press F1 to access the online help.
5. Click Close when you have added all the fund members.
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Chapter 3. Adding and changing funds SuperFund 2015
Entering member opening balances
1. On the “Fund Opening Setup” window, highlight Opening Balances and click Setup to open the “Member Opening Balances” window.
Tip: If you are setting up a Super fund with a member that has an existing Pension
and Accumulation account, you must set up the Pension account opening balances after
setting up Accumulation account opening balances here.
2. Complete the “Member Opening Balances” window and click Save.
Figure 23: The “Member Opening Balances" window
3. Click the blue arrows to enter the opening balances for other fund members, and click
Save.
Tip: For information on the “Member Opening Balances” window fields, press F1 to access the online help.
4. Click Close when you have entered the opening balances for all the fund members.
Setting up pensions
1. If any members are receiving pensions from the fund, on the “Fund Opening Setup” window, highlight Pensions and click Setup to open the “Pensions” window.
Tip: If you are setting up a Super fund with a member that has an existing Pension
2. Click New to add details of a pension.
3. On the “Pension” window, enter details of the pension.
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SuperFund 2015 Setting up an existing fund
Figure 24: The “Pension" window
Note: For a transition to retirement pension, select the Transition to Retirement check box.
4. Click New to enter information on another pension, and click Save.
Tip: For information on the “Pension” window fields, press F1 to access the online help.
5. Click Close when you have entered all the pensions.
Setting up member allocations
1. On the “Fund Opening Setup” window, highlight Member Allocations and click Setup to open the “Member Allocations” window.
Figure 25: The “Member Allocations" (Member tab) window
2. For each member of the fund, enter the percentage allocation.
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Chapter 3. Adding and changing funds SuperFund 2015
Under Allocation Method, you can select Based on members opening balances to automatically allocate the funds based on the members’ opening balances. This is the preferred method for continuing funds.
Note: The Based on members Opening Balances option does not take into account the dates that members made their contributions. If you want to weight the allocations to allot more to members who made contributions earlier, then you must select the
Manually
Assign Allocation to Each Member option and complete the table.
3. If any of the members are receiving a pension, click on their tabs to set the amounts allocated to their pension and accumulation accounts.
4. For each account, enter the percentage allocation.
Under Allocation Method, you can select Based on account opening balances to automatically allocate the funds based on the opening balances of the accounts.
5. Click Save.
Tip: For information on the “Member Allocations” window fields, press F1 to access the online help.
6. If necessary, you can click Worksheet to open the “Member Allocation Worksheet” window.
7. Click Close when you have entered the members’ allocations.
Adding insurance policies
1. To enter details of insurance policies held by members of the fund, on the “Fund Opening
Setup” window, highlight Insurance Policies and click Setup to open the “Insurance
Policies” (list) window.
2. Click New to add details of insurance policies.
3. On the “Insurance Policies” window, enter details of a policy and click Save.
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Figure 26: The “Insurance Policies" window
4. Click
New to enter information on another insurance policy, and click Save.
5.
Note: The Term Life or TPD Insurance Policies now allow alternative deductibility percentages.
Tip: For information on the “Insurance Policies” window fields, press F1 to access the online help.
6. Click Close when you have entered all the insurance policies.
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SuperFund 2015 Setting up an existing fund
Adding fund assets
On the “Fund Opening Setup” window, highlight the asset type and click Setup to add the following types of assets:
Bank accounts
Term deposits
Loans to Others
Loans from Others
Shares in listed companies
Shares in unlisted companies
Units in listed trusts
Units in unlisted trusts
Managed funds
Partnerships
Other financial assets
Property
Artworks and collectables
Other physical assets
Instalment warrants
Term Deposits
1. On the list window, click
New to add the asset type.
2. Complete the applicable window with information on the asset.
Figure 27: The “Term Deposits” window
3. Click Allocation to allocate percentages of the asset to fund members.
4. Click Save.
Tip: For information on the “Allocation of tax” window fields, press F1 to access the online help.
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Chapter 3. Adding and changing funds
5. Click New to add another asset.
6. Click Close when you have entered the assets of that type.
SuperFund 2015
Adding receivables
If the fund has cash from interest, loans, dividends, income from assets, distributions and return of capital from shares that has been declared but not received, you can add details of the receivables.
1. To enter details of distributions, on the “Fund Opening Setup” window, under Receivables, highlight one of the following to open the relevant window, and click Setup:
Bank Account Interest
Term Deposit Interest
Loan Repayments
Listed Company Dividends
Unlisted Company Dividends
Listed Trust Distributions
Unlisted Trusts Distributions
Managed Fund Distributions
Partnership Distributions
Rental Income
Other Financial Asset Income
Artwork, Collectables Etc. Income
Other Physical Asset Income
Listed Shares Return of Capital
Unlisted Shares Return of Capital
Listed Trusts Return of Capital
Unlisted Trusts Return of Capital
Managed Funds Return of Capital
Partnerships Return of Capital
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SuperFund 2015 Setting up an existing fund
Figure 28: The “Units in Listed Trusts - Distributions” window
2. Click New to add details of a distribution with a receivable amount.
Figure 29: The "Units in Listed Trusts – Distribution" window
3. Complete the fields as required.
4. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview Transaction check box to preview the transaction before posting it to HandiLedger.
5. If required, use the blue arrows to edit another distribution, or click
New to add a new one.
6. Click Save and then Close.
Adding tax refund provisions
1. To enter details of tax receivables, on the “Fund Opening Setup” window, under
Tax
Refund Provisions, highlight one of the following and click Setup to open the relevant window.
Tax Refunds
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Chapter 3. Adding and changing funds
PAYG Refunds
PAYG Withholding Refunds
GST Refunds
Figure 30: The "Tax Refunds" (List) window
2. Click New to add details of tax to be refunded.
3. On the relevant window, enter details of a tax liability, and click Save.
Tax Refunds
PAYG Refunds
PAYG Withholding Refunds
GST Refunds
SuperFund 2015
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Figure 31: The “Tax Refunds" window
4. Click New to enter information on another tax receivable, and click Save.
Tip: For information on the tax window fields, press F1 to access the online help.
5. Click
Close when you have entered all the tax receivables.
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SuperFund 2015 Setting up an existing fund
Adding tax payable provisions
1. To enter details of tax liabilities, on the “Fund Opening Setup” window, under
Tax Payable
Provisions, highlight one of the following, as required, and click Setup to open the relevant window.
Excess Contributions Payments
Tax Payable
PAYG Payments
PAYG Witholding
GST Payable
Figure 32: The "Excess Contributions Payments" (List) window
2. Click New to add details of tax that is payable.
3. On the relevant window, enter details of a tax liability and click Save.
Excess Contributions Payments
Tax Payable
PAYG Payments
PAYG Witholding
GST Payable
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Figure 33: The “Excess Contributions Payments" window
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Chapter 3. Adding and changing funds SuperFund 2015
4. Click New to enter information on another tax liability, and click Save.
Tip: For information on the tax window fields, press F1 to access the online help.
5. Click
Close when you have entered all the tax liabilities.
Adding deferred tax values
1. To enter year opening and closing deferred tax values, on the “Fund Opening Setup” window, highlight Deferred Tax and click Setup to open the “Deferred Tax” window.
2. Click New to add deferred tax values.
3. On the “Deferred Tax” window, enter the year opening and closing deferred tax values and click
Save and Close.
Figure 34: The “Deferred Tax" window
Tip: For information on the “Deferred Tax” window fields, press F1 to access the online help
Adding deferred expenses and loan repayments
You can add expenses that have been deferred and carried over to the current year.
1. On the “Fund Opening Setup” window, depending on the type of expense, highlight
Loan
Repayments, General Expenses, Pension Payments or Insurance Premiums and
Fees, and click Setup to open the “Loans from Others - Loan Repayment” “General
Expenses”, “Pension Payments” or “Insurance Premiums and Fees” window.
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Figure 35: The "General Expenses" (list) window
2. Click New to add the deferred Loan Repayment, General Expense, Pension Payment or
Insurance Premium and Fees.
3. Enter details of the expense and click Save and Close.
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SuperFund 2015 Setting up investment categories
Figure 36: The “General Expenses" window
Tip: For information on the window fields, press F1 to access the online help
Note: If you want to make payment on a deferred expense , click
Payments to open the
“Expense Payments” window.
Setting up investment categories
You can specify target maximum and minimum investment percentages for the selected fund.
1. From the Options menu, click Investment Categories to open the “Investment Categories” window.
Figure 37: The "Investment Catagories" window
2. In the Minimum and Maximum columns, for each investment category, enter the target minimum and maximum percentages for the selected fund.
3. Click Save and then Close.
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Chapter 3. Adding and changing funds SuperFund 2015
4. The “Investment Strategy” window gives you a graphical indication of whether the selected fund’s investment category percentages are within the target ranges.
5. From the Fund menu, click Investment Strategy.
Figure 38: The "Investment Strategy" window
6. If necessary, you can click Setup to open the “Investment Categories” window to change the target percentages.
7. Click
Close to exit the “Investment Strategy” window.
Viewing and editing funds
You are able to change details of funds entered in SuperFund 2015.
Viewing and editing fund details
1. From the Fund menu click Select a Fund to open the “Select a Fund” window.
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Figure 39: The "Select a Fund" window
2. To select a fund for processing, highlight the required fund and year and click Select.
3. To edit details of a fund, highlight the fund and click Edit to open the “Fund Details” window.
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SuperFund 2015 Viewing and editing funds
Figure 40: The "Fund Details" window
4. Edit the fields on the “Fund Details” window as required and then click Save and Close.
5. To add or edit fund years, on the lower buttons click
New or View. In the Year Details fields enter the required information.
The Year Details fields
Note: If the fund is registered for the GST, you must select the Registered for GST check box to enable the GST Payable and GST Claimable fields on the transaction windows.
6. To return to the Fund Years list view, click View on the lower buttons.
Tip: For information on the “Select a Fund” and “Fund Details” window fields, press F1 to access the online help.
Setting the Actuary Percentage
1. From the Fund menu click Actuary Percentage to open the “Actuary Percentage” window..
Figure 41: The "Actuary Percentage" window
2. Enter the Actuary Percentage for the fund, and click OK.
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Chapter 3. Adding and changing funds SuperFund 2015
Tip: Use the Member Allocation Worksheet to balance the amounts allocated to pension
and accumulation accounts with the Actuary Percentage.
Adding and editing members
1. Select the required fund:
From the Fund menu click Select a Fund.
Highlight the required fund and click Select.
2. On the Access Panel, click Members or, from the Members menu, click Members to open the “Fund Members” window.
Figure 42: The "Fund Members" window
3. The Active Members pane lists all the current members of the fund, and the Inactive
Members pane lists those members who have exited the fund.
Adding a member
1. On the “Fund Members” window, click
New to open the “Member Details” window.
2. Complete the “Member Details” window fields and click
Save.
Tip: For information on the “Member Details” window fields, press F1 to access the online help.
3. To add another member, click New and enter the details.
4. Click Close to return to the “Fund Members” window.
Editing a member
1. On the “Fund Members” window, highlight the required member and click Edit to open the
“Member Details” window.
2. Complete the “Member Details” window fields and click
Save.
If you select
Yes for Pension Mode, the member will have a ‘Y’ in the “Fund Members” window Pension Mode column.
If you enter a date in the Date Exited field, the member will be listed in the In-active
Members pane.
3. If required, click the blue arrows to display another member’s details.
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SuperFund 2015 Adding and editing members
4. Click Close to return to the “Fund Members” window.
To enter a member’s opening balance
1. From the Fund menu, click Fund Setup to open the “Fund Opening Setup” window.
Note: The Fund Setup menu command will only be available if the fund’s commencement date is before the currently selected year.
2. Under Members, highlight Opening Balances and click Setup to open the “Member
Opening Balances” window.
3. Use the Blue Arrows to display the required member.
4. Complete the “Member Opening Balances” window fields and click Save.
Tip: For information on the “Member Opening Balances” window fields, press F1 to access the online help.
5. If required, click the blue arrows to display another member’s opening balances.
6. Click Close to return to the “Fund Opening Setup” window.
Setting members’ pensions
You can enter details of pensions received from the fund by members.
1. From the Members menu, click Pensions to open the “Pensions” window, which lists all the pensions received by members.
Figure 43: The "Pensions" window
2. To add a new pension or edit the highlighted pension, click New to open the “Pension” window.
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Chapter 3. Adding and changing funds SuperFund 2015
Figure 44: The "Pension" window
3. In the Member field, select the member who is receiving the pension, and complete the other field as required.
Note: For a transition to retirement pension, select the Transition to Retirement check box.
4. Click Save to save the information.
5. If necessary, click New to create a new pension, or use the blue arrows to edit another pension.
6. Click Close to return to the “Pensions” window.
7. Click Close to exit from the “Pensions” window.
Setting member allocations
You can set the amount that each member is allocated from the fund, and the amounts allocated to the members’ accumulation and pension accounts.
1. From the Members menu, click Member Allocations to open the “Member Allocations” window.
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SuperFund 2015 Setting member allocations
Figure 45: The "Member Allocations” window
2. Under Allocation Method, you can select Based on members opening balances to automatically allocate the funds based on the members’ opening balances. This is the preferred method for continuing funds.
Note: The Based on members opening balances option does not take into account the dates that members made their contributions. If you want to weight the allocations to allot more to members who made contributions earlier, then you must select the
Manually
assign allocation to each member option and complete the table.
3. If you select the Manually assign allocations to each member option, in the Allocation% column, enter the percentage to be allocated to each member.
Note: The allocations must add up to 100%
4. Members receiving a pension will have a tab to set the amounts to be allocated to their pension and accumulation accounts.
5. If required, click a Member tab.
Figure 46: The "Member Allocations” (Member tab) window
6. Under Allocation Method, you can select Based on account opening balances to automatically allocate the funds based on the opening balances of the member’s accounts.
7. If you select the Manually assign allocations to each account option, in the Allocation% column, enter the percentage to be allocated to each accounts.
Note: The allocations must add up to 100%
Worksheet to open the “Member Allocation Worksheet” window.
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Chapter 3. Adding and changing funds SuperFund 2015
Figure 47: The "Member Allocation Worksheet” window
9. Click
Save and then Close.
The Member Allocation Worksheet
The Member Allocation Worksheet is used for funds with members in pension mode. The various allocation amounts are used to match member accumulation and pension allocations with the fund's actuary percentage and pension exempt income.
Using the Worksheet
To balance the fund correctly the aim is to have all Balance fields set to “0.00”. A tick or cross will be displayed next to each figure to indicate if the value is in balance. When all four balance amounts have green ticks, the distributions are balanced. This is achieved by manipulating the values allocated to each member and their accumulation and pension accounts. The manipulation of these figures will automatically determine the percentage of income/loss to be allocated to each member and the member accounts.
Example 1:
A fund has two members, John and Mary Smith. John has pension and accumulation accounts and Mary is in accumulation mode only. The actuary percentage has been calculated to be
35%.
During the year the fund has received $69,333.33 in taxable income, and has paid $2,100 worth of deductible expenses (note, deductible insurance premiums and pension payments are not subject to the actuarial percentage and are not included here)
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Figure 48: The "Member Allocation Worksheet” window
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SuperFund 2015 The Member Allocation Worksheet
The income and expense values are shown in the Taxable Income/Loss box:
The actuarial calculation is as follows:
Based on the member opening balances, we can see that the total allocation to members is correct:
However, the fund’s accumulation and pension requirements have not been met. The Totals box below shows that the Calculated and Required amounts are not equal for the
Accumulation or Pension accounts. The Accumulation requirement is $8,590.93 too high and the Pension requirement is $8,590.93 too low.
The pension allocation needs to be manually adjusted. This can be done by moving some of
John’s accumulation allocation to his pension account.
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Chapter 3. Adding and changing funds SuperFund 2015
Reducing John’s accumulation account by $8,590.93 and increasing his pension account by
$8,590.93 using the Accounts box automatically adjusts his pension percentages, and the fund is now balanced:
We can now exit the window and save the calculated allocation percentages. These will update the “Member Allocations” ( Members / Member Allocations) window.
We can now check that the fund is in balance by reconciling the $23,531.67 with the sum of the
Exempt Pension Income and Pension Non-deductible Expenses from the Tax Reconciliation report ($24,266.67 - $735 = $23,531.67).
To run the Tax Reconciliation report, from the Reports menu, click Tax Reconciliation.
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The sum of the accumulation members’ contributions tax and income tax values will also equal the Gross Tax amount on the Tax Reconciliation report ($750 + $2,073.03 + $4,482.22 =
$7,305.25).
John Smith:
Mary Smith:
Tax Reconciliation:
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SuperFund 2015 The Member Allocation Worksheet
Example 2:
Using the same fund as the above example, but this time John is retired and in pension mode only and the actuarial percentage has been calculated to be 70%.
By allocating income based on the account opening balances, John’s pension isn’t receiving the required actuary percentage of income of $47,063.33.
Figure 49: The "Member Allocation Worksheet” window
Since John is the only pension member, we need to allocate some of Mary’s funds to John in order to satisfy his pension requirement of 70% as per the actuary percentage. Reducing her allocation by the required $9,711.48 and increasing John’s allocation using the Members box will balance the fund.
Figure 50: The "Member Allocation Worksheet” window
Exiting the form and saving the calculated allocation percentages will update the “Member
Allocations” window with the new percentages.
Example 3:
Using a similar fund as in the first example, this time Mary transferred a large portion of her balance to another fund just after the beginning of the year. Based on the opening balances, the member allocations are shown on the window below to be $30,560.60 to John and
$36,672.73 to Mary. However, due to the large transfer out by Mary, the actuary percentage has been assessed at 50%.
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Chapter 3. Adding and changing funds SuperFund 2015
Figure 51: The "Member Allocation Worksheet” window
Mary’s allocation of $36,672.73 must be reduced to reflect her substantially lower balance over the year, and John’s balance must be increased in order to achieve his pension requirement.
As a result of Mary’s transfer the member allocations are determined to be $56,005.36 for John and $11,227.97 for Mary. By entering these values in to the Members box the worksheet calculates the new allocation percentages as shown below:
Figure 52: The "Member Allocation Worksheet” window
Finally, John’s accumulation and pension allocations must be adjusted to account for the $13.45 difference shown in the Totals box above. Increasing John’s pension allocation by $13.45 and reducing his accumulation account by the same amount in the
Accounts box, as shown below, means the fund is now balanced:
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Figure 53: The "Member Allocation Worksheet” window
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SuperFund 2015 Excess Contribution
Exiting the window and saving the calculated allocation percentages will update the “Member
Allocations” window with the new percentages.
Excess Contribution
The Tax Reconciliation Report now includes a provision for Excess Contribution Tax.
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Chapter 4. Managing assets
This chapter describes how you would manage the assets owned by the funds.
GST payments and claims
Funds that are registered for the GST will be required to pay GST on some transactions and claim a refund of GST on others. During data entry, SuperFund 2015 will take 1/11th of the cost
(cost, purchase fee, disposal fee, expense, etc) and automatically enter it into the
GST
Claimable or GST Payable field. These fields are only available for funds that are set up in
SuperFund 2015 as being registered for the GST for the year.
Do the following to set up a fund and year as being registered for the GST:
1. From the Fund menu, click Select a Fund to open the “Select a Fund” window.
Figure 54: The "Select a Fund" window
2. On the upper pane, highlight the required fund.
3. Under Fund Years, highlight the required year.
4. Click Years and View to display the Year Details fields.
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Chapter 4. Managing assets SuperFund 2015
Figure 55: The Year Details fields
5. Select the Registered for GST check box.
6. Click Save.
7. If required, click Select to select the fund and the year for further management.
Note: In many cases the fund can only claim 75% of the GST paid. Therefore, even though
SuperFund 2015 fills the GST Claimable field with 100% of the GST, you will need to determine what amount the fund is entitled to claim and adjust the value accordingly.
Purchasing assets
Purchasing bank accounts and term deposits
You can add bank accounts and term deposits to the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the Assets menu, point to Accounts and then click one of the following:
Bank Accounts
Term Deposits
Depending on your selection, a window will open, listing the accounts of that type that are owned by the fund.
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Figure 56: The "Bank Accounts" (list) window
3. To add a new account, on the list window click New to open the “Term Deposits” or “Bank
Accounts” window.
4. Complete the fields as required and click Save.
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SuperFund 2015 Purchasing assets
Tip: If you want to include bank account details when exporting data to HandiTax , on
the “Bank Accounts” window, select the
Use account details on tax return for refund check box.
5. If required, use the blue arrows to display details of another account.
6. Click Close to return to the list window.
Loans to and from others
You can enter details of loans made to and from other individuals and entities by the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the
Assets menu, point to Accounts and then click one of the following:
Loans to Others
Loans from Others
Depending on your selection, a window will open, listing the loans to or from others.
Figure 57: The "Loans to Others" (list) window
3. To add a new loan, on the list window click New to open the “Loans to Others” or “Loans from Others” window.
Figure 58: The "Loans to Others" window
4. Complete the fields as required and click Save.
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Chapter 4. Managing assets
5. If required, use the blue arrows to display details of another loan.
6. Click Close to return to the list window.
SuperFund 2015
Purchasing financial assets
You can enter details of financial assets purchased for the fund.
1. Select the fund for which the financial asset is being purchased.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click
Select.
2. From the
Assets menu, point to Financial Investments, and then, depending on the financial asset being purchased, click one of the following.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
Figure 59: The "Shares in Listed Companies" (list) window
3. On the window that opens, click New to add the asset:
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
4. Complete the fields in the window and click Save and Close.
Purchasing other financial assets
You can enter details of other financial assets purchased for the fund.
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SuperFund 2015 Purchasing assets
1. Select the fund for which the financial asset is being purchased.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the
Assets menu, click Other Financial Assets to open the “Other Financial Assets”
(list) window.
Figure 60: The "Other Financial Assets" (list) window
3. To add a new asset, click New to open the “Other Financial Assets” window.
Figure 61: The "Other Financial Assets" window
4. Complete the window fields, and click
Save and Close.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable and GST Payable fields. However, if the fund is not able to claim or is not required to pay the full GST amount, you must change the value to what can be claimed or needs to be paid.
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Chapter 4. Managing assets SuperFund 2015
Purchasing insurance policies
You can enter details of insurance policies purchased for the fund.
1. Select the fund for which the insurance policy is being purchased.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Members menu, click Insurance Policies to open the “Insurance Policies” (list) window.
Figure 62: The "Insurance Policies" (list) window
3. To add a new policy, click New to open the “Insurance Policies” window.
Figure 63: The "Insurance Policies" window
4. Complete the window fields, and click Save and Close.
Purchasing property/real estate
You can enter details of properties purchased for the fund.
1. Select the fund for which the property is being purchased.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Property/Real Estate to open the “Property” (list) window.
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SuperFund 2015 Purchasing assets
Figure 64: The "Property" (list) window
3. To add a new property, click New to open the “Property” window.
4. Complete the window fields.
Figure 65: The "Property" window
Note: If the property has depreciable assets at the time of acquisition, you must enter their
total value in the Depreciable field.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Payable and GST Claimable fields. However, if the fund is not able to claim the full GST amount, you must change the GST Claimable values to what can be claimed.
5. Click Save and Close to return to the “Property” (list) window.
6. If you entered a value in the
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Chapter 4. Managing assets SuperFund 2015
Purchasing artworks, jewellery and collectables
You can enter details of artworks jewellery and collectables purchased for the fund.
1. Select the fund for which the asset is being purchased.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Artwork, Collectables, Metals or Jewels to open the
“Artwork, Collectables, Metals or Jewels” (list) window.
Figure 66: The “Artwork, Collectables, Metals or Jewels" (list) window
3. To add a new asset, click New to open the “Artwork, Collectables, Metals or Jewels” window.
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Figure 67: The “Artwork, Collectables, Metals or Jewels" window
4. Complete the window fields.
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SuperFund 2015 Purchasing assets
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable and GST Payable fields. However, if the fund is not able to claim the full GST amount, you must change the values to what can be claimed.
5. Click Save and Close.
Purchasing other physical assets
You can enter details of other physical assets purchased for the fund.
1. Select the fund for which the asset is being purchased.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Other Physical Assets to open the “Other Physical Assets”
(list) window.
Figure 68: The "Other Physical Assets" (list) window
3. To add a new asset, click New to open the “Other Physical Assets” window.
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Chapter 4. Managing assets SuperFund 2015
Figure 69: The "Other Physical Assets" window
4. Complete the window fields.
Note: If the physical asset has depreciable component assets at the time of acquisition, you
must enter their total value in the Depreciable field.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the
GST Claimable and GST Payable fields. However, if the fund is not able to claim the full GST amount, you must change the GST Claimable values to what can be claimed.
5. Click
Save and Close to exit to the “Other Physical Assets” (list) window.
6. If you entered a value in the
window.
In-specie contributions
With the exception of residential investment properties, asset purchases can be made as "inspecie" contributions, where members directly contribute the asset to the fund. The contribution is non-taxable. However, you can select the Concessional check box if the contribution is concessional.
This allocation is separate to the other allocation percentage which allocates the ownership and
income from the asset. When the asset is added as in-specie, no bank transaction should occur, and the HL transaction should substitute the member's contribution account(s) for the bank account. The in-specie allocation percentage should only be available in the year the asset was purchased, after then it is irrelevant.
When you select the
In-specie contribution check box on any of the asset purchasing windows, the “Asset Allocation” window will have an In-specie% column for you to enter the In-
specie percentages for the members. See ‘ Allocating assets to members ’ on page 89.
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SuperFund 2015 Viewing and editing assets
Figure 70: The "Asset Allocation" window
Viewing and editing assets
Viewing and editing bank accounts and term deposits
You can view and edit details of bank accounts and term deposits owned by the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the Assets menu, point to Accounts and then click one of the following:
Bank Accounts
Term Deposits
Depending on your selection, a window will open, listing the accounts of that type that are owned by the fund.
3. To edit or view details of an account, on the list window, highlight the asset and then click
Edit or View to open the “Term Deposits” or “Bank Accounts” window.
4. Complete the fields as required and click Save.
5. If required, use the blue arrows to display details of another account.
6. Click Close to return to the list window.
Viewing and editing loans to and from others
You can view and edit details of loans to and from others by the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the Assets menu, point to Accounts and then click one of the following:
Loans to Others
Loans from Others
Depending on your selection, a window will open, listing the loans made by the fund.
3. To edit or view details of an account, on the list window, highlight the asset and then click
Edit or View to open the “Loans to Others” or “Loans from Others” window.
4. Complete the fields as required and click Save.
5. If required, use the blue arrows to display details of another loan.
6. Click Close to return to the list window.
Transferring funds between bank accounts
You can transfer funds from one bank account to other accounts.
1. Select the required fund. From the Fund menu click Select a Fund.
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Chapter 4. Managing assets SuperFund 2015
2. From the Assets menu, point to Accounts and then click Bank Accounts to open the
“Bank Accounts” window.
3. Highlight the bank account from which the funds are to be transferred and click Transfer.
The “Bank Account Funds Transfer” window will open.
Figure 71: The “Bank Account Funds Transfer” window
4. In the Date and Amount column fields, enter the date and amount being transferred.
5. In the Account column, press F2 or click to select the bank account to which the funds are being transferred.
6. Click Save.
7. If required, click New to enter details of another transfer.
8. Click Close to return to the “Bank Accounts” window.
Viewing and editing financial assets
You can view and edit details of financial assets owned by the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the Assets menu, point to Financial Investments and then click one of the following:
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
Depending on your selection, a window will open, listing the assets of that type that are owned by the fund.
3. To edit or view details of a financial asset, on the list window, highlight the asset and then click
Edit or View to open one of the following windows:
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
4. Complete the fields as required and click Save.
5. If required, use the blue arrows to display details of another investment.
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6. Click Close to return to the list window.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable fields. However, if the fund is not able to claim the full GST amount, you must change the value to what can be claimed.
Viewing and editing insurance policies
You can view and edit details of financial assets owned by the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the Members menu, click Insurance Policies.
The “Insurance Policies” window will open, listing insurance policies held by the fund.
3. To edit or view details of an insurance policy, on the list window, highlight the policy and then click Edit or View to open the “Insurance Policies” window.
4. Complete the fields as required and click Save.
5. If required, use the blue arrows to display details of another policy.
6. Click Close to return to the list window.
Cancelling insurance policies
You can cancel insurance policies held by members of the fund as follows
1. From the Members menu, click Insurance Policies to open the “Insurance Policies” (list) window.
2. Highlight the insurance policy to be cancelled, and click Edit.
3. On the “Insurance Policies” window, in the Date Cancelled field, enter or click to select the cancellation date of the policy.
Tip: For information on the “Insurance Policies” window fields, press F1 to access the online help.
4. Click
Save and Close to exit the “Insurance Policies” window.
When you close the financial year, insurance policies with a
Cancellation Date earlier than or equal to the year-end date will not be included in the roll over to the next year.
Viewing and editing physical assets
You can view and edit details of financial assets owned by the fund.
1. Select the required fund. From the Fund menu click Select a Fund.
2. From the Assets menu, click one of the following:
Property/Real Estate
Artworks Collectables, Metals or Jewels
Other Physical Assets
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Depending on your selection, a window will open, listing the assets of that type that are owned by the fund.
3. To edit or view details of a physical asset, on the list window, highlight the asset and then click Edit or View to open one of the following windows:
Property
Artwork, Collectables, Metals or Jewels
Other Physical Assets
4. Complete the fields as required and click Save.
5. If required, use the blue arrows to display details of another asset.
6. Click Close to return to the list window.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Payable and GST Claimable fields. However, if the fund is not able to claim the full GST amount, you must change the
GST Claimable value to what can be claimed.
Consolidating and splitting share holdings
Creating consolidations and splits
You can consolidate and split a fund’s share holdings to create a smaller or larger number of shares.
1. Select the required fund. From the Fund menu, click Select a Fund. Highlight the required fund and click
Select.
2. On the
Access panel, click Listed Shares, or, from the Assets menu, point to Financial
Investments and then click Shares in Listed Companies. The “Shares in Listed
Companies” (list) window will open, listing the selected fund’s share holdings.
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Figure 72: The "Shares in Listed Companies" (list) window
3. Do any of the following:
To batch consolidate or split all the Fund’s share holdings of shares with a specific ASX code, highlight one such holding and click Consolidate/Split. The “Consolidation/Split -
Shares in Listed Companies” will open.
To consolidate or split a single share holding, highlight the share holding and click Edit to open the “Shares in Listed Companies” window.
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Figure 73: The "Shares in Listed Companies" window
Click Consolidate/Split to open the “Consolidation/Split - Shares in Listed Companies” window.
Figure 74: The "Consolidation/Split - Shares in Listed Companies” window
4. Complete the fields as required and click Save.
The “Shares in Listed Companies” (list) window will show the share holdings that have been consolidated or split with their Quantity reduced to zero. New holdings reflecting the splits or consolidations will be created. If you view the new holdings on the “Shares in Listed
Companies” window, the Purchased/Issued date field will show the date of the split or consolidation, and the Purchased (CGT) date will show the original purchase date of the shares.
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Note the following:
In the batch mode, consolidation records are created for each individual share holding using the Calculation fields to determine the resulting number of shares. When multiplying and rounding each individual share holding, the result may not be the same as multiplying and rounding the total number. Also, if the number is specified manually, the number in each share holding would need to be modified as well. The batch transaction, therefore, corrects any of these errors by modifying the results based on the share holding that has most rounding applied to it.
Simple example - 2 share holdings, 1 with 14 shares, 1 with 21 shares, a 9 to 1 consolidation (rounded up).
35/9 rounded up = 4
14/9 rounded up = 2 (rounded as if it were 18 shares, 4 more)
21/9 rounded up = 3 (rounded as if it were 27 shares, 6 more)
In this example, because the second share holding has been rounded the furthest, it would be reduced to 2 giving us the correct overall result.
After any consolidation or split, the resulting share holding should have the same
Total
Cost and Purchase (CGT) date as the original share holding, and its Total Value should also be equal. A revaluation record will be automatically created at the issue date if the value isn't equal to the cost.
Viewing and editing consolidations and splits
You can view, edit and delete details of consolidations or splits of share holdings.
1. Select the required fund. From the Fund menu, click Select a Fund. Highlight the required fund and click
Select.
2. On the
Access panel, click Listed Shares, or, from the Assets menu, point to Financial
Investments and then click Shares in Listed Companies. The “Shares in Listed
Companies” (list) window will open, listing the selected fund’s share holdings.
3. Highlight a share holding that has been consolidated or split and click Edit to open the
“Shares in Listed Companies” window .
4. Note: The Quantity of a consolidated or split share holding should be 0.
5. Click
Consolidate/Split to open the “Consolidation/Split - Shares in Listed Companies” window.
6. Edit the fields as required. To delete the consolidation or split, click Delete.
7. Click Save.
Any changes will flow through to the new holding and, if the record is deleted, the new share holding and any other details associated with it (revaluations, dividends etc.) will be deleted as well. A consolidation can only be edited or deleted within the year that it occurred.
Instalment Warrants
SuperFund 2015 allows you to enter assets that have been acquired using an Instalment
Warrant arrangement.
Instalment Warrant arrangements enable SMSFs to acquire an asset through a series of agreed instalment payments. An Instalment Warrant arrangement typically involves an initial upfront payment, and the balance of the purchase price is lent to the SMSF by the issuer of the warrant.
The borrowing and the applicable interest are repaid in instalments. The SMSF is usually only required to fund the initial upfront payment.
For more information on this topic please refer to the applicable government legislation.
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In SuperFund 2015, we enter both the instalment warrant and the asset at the same time, as the two are linked.
Entering the instalment warrant and the associated asset
The following example illustrates the process:
The SMSF purchased an investment for $24,000, and incurred a $200 purchase fee, giving a
Capital Cost of $24,200. The asset was acquired with an initial payment of $4,400, and an instalment warrant arrangement to mature on 01/03/2016, which included Prepaid Interest of
$1,000, a $200 Borrowing Fee and a Loan Amount of $21,000.
1. From the Assets menu, click Instalment Warrants.
Figure 75: The "Instalment Warrants" window
2. On the “Instalment Warrants” window click New.
3. On the “Instalment Warrant” window, complete the Details section. Select the Property option in the
Asset Type field, as the SMSF has used the instalment warrant to purchase property.
4. On the “Property” window, complete the relevant details and click Save and Close.
5. Now, on the “Instalment Warrant” window, complete the remainder of the Instalment
Warrant details. Click
Save and Close.
Figure 76: The "Instalment Warrant” window
6. SuperFund will then generate the journal entry for both the instalment warrant and the asset acquired. Click Post and Close.
7. The Investment Summary report will reflect both the Physical Asset acquired and the Loan amount of the Instalment Warrant arrangement.
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Processing the instalment payments
The instalment payments are processed as follows:
1. From the Transaction menu, click Repayments for Loans from others.
Figure 77: The "Loans from Others -Loan Repayment" (list) window
2. On the “Loans from Others - Loan Repayment” (list) window, click New to open the “Loans from Others - Loan Repayment” window.
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Figure 78: The "Loans from Others - Loan Repayment" window
3. In the Loan field, select the correct Instalment Warrant arrangement.
4. Click Save and Close.
5. SuperFund 2015 will then generate a journal entry. Click Post and Close.
6. The Investment Summary report will open. Click
Post and Close.
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Revaluation of assets
You can revalue the assets owned by the selected fund.
Revaluing financial investments
To revalue the financial investments owned by the fund, do the following.
1. Select the required fund. From the Fund menu, click Select a Fund. Highlight the required fund and click Select.
2. From the Assets menu, point to Revaluation and then click Financial Investments. The
“Revaluation - Financial Investments” window will open.
Figure 79: The "Revaluation - Financial Investments" window
3. To revalue individual investments, in the Rev.Date and Value columns, enter the valuation date and the valuation.
4. To revalue multiple investments, do the following:
In the first column, select the check boxes of the investments being revalued.
Tip: To select all the check boxes, click Tag All.
Click Revalue
On the “Revaluation” window, enter the Revaluation Date and click OK.
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SuperFund 2015 will automatically insert the revaluation date and value for the selected investments.
If required, in the Value column, enter the new value for each investment.
5. Click Save and Close.
Revaluing artworks, collectables, metals and jewels
To revalue the artworks, collectables, metals and jewels owned by the fund, do the following.
1. Select the required fund. From the Fund menu click Select a Fund. Highlight the required fund and click Select.
2. From the Assets menu, point to Revaluation and then click Artworks, Collectables,
Metals or Jewels. The “Revaluation – Physical Assets” (list) window will open.
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Figure 80: The "Revaluation - Physical Assets" (list) window
3. Highlight the asset to be revalued and click Edit to open the “Revaluation - Physical Assets” window.
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Figure 81: The "Revaluation - Physical Assets" window
4. Complete the fields in the window and click
Save.
5. If required, use the blue arrows to move to another asset for revaluation.
6. Click Close to return to the list window.
7. Click Save and Close.
Revaluing other physical assets
To revalue other physical assets owned by the fund, do the following.
1. Select the required fund. From the Fund menu click Select a Fund. Highlight the required fund and click Select.
2. From the Assets menu, click Other Physical Assets to open the “Other Physical Assets”
(list) window.
3. Highlight the asset to be revalued and click Edit to open the “Other Physical Assets” window.
4. Click Revaluations to open the “Asset Revaluation” window.
Figure 82: The "Asset Revaluation" window
5. To edit an existing revaluation, click Edit, or to add a new revaluation, click New. The
“Revaluation” window will open.
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Figure 83: The "Revaluation" window
6. Complete the fields in the window and click Save.
Note: If the asset has depreciable components, the Non-depreciable Assets Revaluation field will be updated automatically.
7. If required, use the blue arrows to move to another revaluation.
8. Click Close to return to the list window.
9. Click
Save and Close.
Revaluing property
To revalue properties owned by the fund, do the following.
1. Select the required fund. From the Fund menu click Select a Fund. Highlight the required fund and click Select.
2. From the Assets menu, click Property/Real Estate to open the “Property” (list) window.
3. Highlight the asset to be revalued and click Edit to open the “Property” window.
4. Click Revaluations to open the “Property Revaluation” (list) window.
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Figure 84: The "Property Revaluation" window
5. To edit an existing revaluation, click Edit, or to add a new revaluation, click New. The
“Property Revaluation” window will open.
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Figure 85: The "Property Revaluation" window
6. Complete the fields in the window and click Save.
Note: If the asset has depreciable components, the Non-depreciable Assets Revaluation field will automatically be updated.
7. If required, use the blue arrows to move to another revaluation.
8. Click Close to return to the list window.
9. Click
Save and Close.
Disposing of assets
This section shows how to record the disposal of assets by the fund.
Disposing of financial assets as a batch
If you have multiple holdings of the same financial asset type, you dispose of assets as batch rather than having to do so individually from each holding.
1. Select the fund which is disposing of the financial assets.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, point to Financial Investments, and then, depending on the financial asset being purchased, click one of the following.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
3. On the window that opens, highlight the asset to be disposed of, and click Dispose.
Note: The Dispose button enables you to batch dispose of assets from multiple holdings of the same asset type. Highlight one of the holdings and click
Dispose. The disposals will be applied in order of first bought – first sold.
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Chapter 4. Managing assets
Depending on the type of asset, one of the following windows will open.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
SuperFund 2015
Figure 86: The "Disposal - Shares in Listed Companies” window
4. Under
Disposal Details, enter the relevant information. Ensure that the Quantity does not exceed what the fund owns on the disposal date.
5. If you have HandiLedger installed, select the Add transactions to HandiLedger check box to post the transactions to HandiLedger. If the disposals are over a number of holdings, a transaction will be created for each holding.
6. Click Save to confirm the disposals.
7. On the bottom row of buttons, click Disposals to activate the buttons.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable fields. However, if the fund is not able to claim the full GST amount, you must change the value to what can be claimed.
Disposing of financial assets individually
If necessary, you can dispose of financial assets individually from each holding.
1. Select the fund which is disposing of the financial assets.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
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2. From the Assets menu, point to Financial Investments, and then, depending on the financial asset being purchased, click one of the following.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
3. On the window that opens, highlight the asset to be disposed of, and click Edit. Depending on the type of asset, one of the following windows will open.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
Figure 87: The "Shares in Listed Companies” window
4. On the bottom row of buttons, click Disposals to activate the buttons.
5. To add a new disposal, click New and complete the fields on the Disposal window.
6. Click Save and Close.
Off-market buy-back of listed shares
Listed share disposals can be marked as "Off-market buy-backs". In this type of disposal the entity buys the shares back for a set price, comprising a capital component and a franked dividend amount.
1. On the “Disposal - Shares in Listed Companies” window select the Off-Market Buy-Back check box.
2. Complete the Tax Value, Capital Component and Franking Credit fields. The Franked
Dividend field will be completed for you.
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Disposing of other financial assets
You can enter details of other financial assets disposed of by the fund.
1. Select the fund which is disposing of the financial asset.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Other Financial Assets to open the “Other Financial Assets”
(list) window.
3. Highlight the asset being disposed of, and click
Edit to open the “Other Financial Assets” window.
Figure 88: The "Other Financial Assets” window
4. In the Disposal Date and Consideration fields enter the date of the disposal and the value for which it was sold.
5. Complete the window fields, and click
Save and Close.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable and GST Payable fields. However, if the fund is not able to claim the full GST amount, you must change the values to what can be claimed.
Disposing of property/real estate
You can enter details of properties purchased for the fund.
1. Select the fund which is disposing of the property.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Property/Real Estate to open the “Property” (list) window.
3. To dispose of a property, highlight the property and click Edit to open the “Property” window.
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Figure 89: The "Property" window
4. In the Disposal Date and Consideration fields enter the date of the disposal and the value for which the property was sold.
5. Complete the window fields, and click Save and Close.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Payable and GST Claimable fields. However, if the fund is not able to claim the full GST amount, you must change the GST Claimable value to what can be claimed.
Disposing of artworks, jewellery and collectables
You can enter details of the disposal of artworks jewellery and collectables.
1. Select the fund which is disposing of the asset.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Artwork, Collectables, Metals or Jewels to open the
“Artwork, Collectables, Metals or Jewels” (list) window.
3. To dispose of an asset, highlight the asset and click Edit to open the “Artwork, Collectables,
Metals or Jewels” window.
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Figure 90: The "Artwork, Collectables, Metals or Jewels" window
4. In the Disposal Date and Consideration fields enter the date of the disposal and the value for which the asset was sold.
5. Click Save and Close.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable and GST Payable fields. However, if the fund is not able to claim the full GST amount, you must change the values to what can be claimed.
Disposing of other physical assets
You can enter details of the disposal of other physical assets.
1. Select the fund which is disposing of the asset.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the
Assets menu, click Other Physical Assets to open the “Other Physical Assets”
(list) window.
3. To dispose of an asset, highlight the asset and click Edit to open the “Other Physical
Assets” window.
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Figure 91: The "Other Physical Assets" window
4. In the Disposal Date and Consideration fields enter the date of the disposal and the value for which the asset was sold.
5. Click Save and Close.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable and GST Payable fields. However, if the fund is not able to claim the full GST amount, you must change the values to what can be claimed.
Allocating assets to members
This section shows how allocate individual assets to the fund members. Any assets that are not
allocated individually, will default to what is specified in the “Member Allocations” (
Members /
Member Allocations) window.
Allocating financial assets
You can allocate financial assets to the fund members.
1. Select the fund which is allocating the financial asset.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, point to Financial Investments, and then, depending on the financial asset being allocated, click one of the following.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
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3. On the window that opens, highlight the asset to be allocated, and click Edit. Depending on the type of asset, one of the following windows will open.
Shares in Listed Companies
Shares in Unlisted Companies
Units in Listed Trusts
Units in Unlisted Trusts
Managed Funds
Partnerships
4. To allocate the asset, click Allocation to open the “Asset Allocation” window.
Note: The In-specie% column will only be available if the In-specie Contribution check box on the asset window is selected. This is used where members directly contribute the asset to the fund.
Figure 92: The "Asset Allocation" window
5. In the Member column, press F2 or click to select the fund members to whom the asset is to be allocated. In the Allocation % column, type the percentage to be allocated to the members.
Note: The total must be 100%.
6. Click Save and Close.
Allocating other financial assets
You can allocate other financial assets to members of the fund.
1. Select the fund which is allocating the financial asset.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the
Assets menu, click Other Financial Assets to open the “Other Financial Assets”
(list) window.
3. Highlight the asset being allocated, and click Edit to open the “Other Financial Assets” window.
4. To allocate the asset, click Allocation to open the “Asset Allocation” window.
Note: The In-specie% column will only be available if the In-specie Contribution check box on the asset window is selected. This is used where members directly contribute the asset to the fund.
5. In the Member column, press F2 or click to select the fund members to whom the asset is to be allocated. In the Allocation % column, type the percentage to be allocated to the members.
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Note: The total must be 100%.
6. Click Save and Close.
Allocating property/real estate
You can allocate values of property owned to the fund members.
1. Select the fund which is allocating the property.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Property/Real Estate to open the “Property” (list) window.
3. Highlight the property to be allocated and click Edit to open the “Property” window.
4. Click Allocation to open the “Asset Allocation” window.
Note: The In-specie% column will only be available if the In-specie Contribution check box on the asset window is selected. This is used where members directly contribute the
(non residential) property asset to the fund.
5. In the Member column, press F2 or click to select the fund members to whom the asset is to be allocated. In the Allocation % column, type the percentage to be allocated to the members.
Note: The total must be 100%.
6. Click
Save and Close.
Allocating artworks jewellery and collectables
You can allocate the value of artworks jewellery and collectables to the fund members.
1. Select the fund which is allocating the asset.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Artwork, collectables, metals or jewels to open the
“Artwork, Collectables, Metals or Jewels” (list) window.
3. Highlight the asset to be allocated, and click Edit to open the “Artwork, Collectables, Metals or Jewels” window.
4. Click Allocation to open the “Asset Allocation” window.
Note: The In-specie% column will only be available if the In-specie Contribution check box on the asset window is selected. This is used where members directly contribute the asset to the fund.
5. In the Member column, press F2 or click to select the fund members to whom the asset is to be allocated. In the Allocation % column, type the percentage to be allocated to the members.
Note: The total must be 100%.
6. Click Save and Close.
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Allocating other physical assets
You can allocate the values of other physical assets to fund members.
1. Select the fund which is allocating the asset.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Assets menu, click Other Physical Assets to open the “Other Physical Assets”
(list) window.
3. Highlight the asset to be allocated, and click
Edit to open the “Other Physical Assets” window.
4. Click Allocation to open the “Asset Allocation” window.
Note: The In-specie% column will only be available if the In-specie Contribution check box on the asset window is selected. This is used where members directly contribute the asset to the fund.
5. In the Member column, press F2 or click to select the fund members to whom the asset is to be allocated. In the Allocation % column, type the percentage to be allocated to the members.
Note: The total must be 100%.
6. Click Save and Close.
Deleting assets
It is possible to delete assets from SuperFund 2015.
1. From the Fund menu, click Select a Fund to open the “Select a Fund” window.
2. In the top pane, highlight the required fund. In the lower pane, highlight the year in which the asset to be deleted was created.
Note: You can only delete an asset in the year it was created. SuperFund 2015 will update the following years automatically.
Note: If the asset was acquired before the year that the fund was entered into SuperFund
2015, select the year that the fund was entered.
3. Click Select.
4. If the year has been closed, from the Fund menu, click Re-open the Year to re-open it.
5. From the Assets menu, open the list window of the asset to be deleted. For example, to delete an artwork, from the
Assets menu, click Artwork, Collectables, Metals or Jewels to open the “Artwork, Collectables, Metals or Jewels” (list) window.
If the asset was acquired before the year that the fund was entered into SuperFund 2015, from the Fund menu, click Fund Setup to open the “Fund Opening Setup” window.
Highlight the asset type and click Setup.
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Figure 93: The “Artwork, Collectables, Metals or Jewels” (list) window.
6. Highlight the asset to be deleted and click Delete.
Caution: The following step will delete all records of the asset, including General
Ledger entries, for the selected and following years. They can only be re-instated from a backup.
7. Click Ok on the “Attention” window.
The asset will be deleted from SuperFund 2015. If required, you can now close the year . See
Chapter 5, “Maintaining data”.
Depreciating properties and physical assets
Properties and physical assets owned by the fund can have depreciable and non-depreciable components that you can record and manage.
Adding properties and physical assets
or physical asset , you can allocate the initial cost to the
Non-
depreciable and Depreciable fields on the “Property” or “Other Physical Assets” windows.
When you Save the property or physical asset to SuperFund 2015, the transaction in
HandiLedger will include entries for the non-depreciable and depreciable amounts.
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Chapter 4. Managing assets SuperFund 2015
Setting up depreciation schedules
Before you can enter depreciable assets for properties or physical assets, you have to set up depreciation schedules for them.
1. From the Assets menu, click Property/Real Estate or Other Physical Assets to open the
“Property” (list) or “Other Physical Assets” (list) window.
2. Highlight the applicable property or physical asset and click Depreciation to open the
“Depreciation Schedules” window.
Figure 94: The "Depreciation Schedules" window
3. To add a new schedule, click New to open the “Depreciation Schedule” window.
Figure 95: The "Depreciation Schedule" window
4. Complete the fields and click Save and Close.
5. Click Close to exit the “Depreciation Schedules” window.
Adding the depreciable assets
If you have included a depreciable component value when adding a property/real estate or
physical asset , you must add the depreciable assets to the value of that entered. You can also
add and dispose of depreciable assets after the acquisition of the property or physical asset..
1. From the Assets menu, click Property/Real Estate or Other Physical Assets to open the
“Property” (list) or “Other Physical Assets” (list) window.
2. Highlight the applicable property or physical asset and click
Depr. Assets to open the
“Depreciable Property Assets” (list) or “Other Physical Asssets – Depreciable Assets” (list) window.
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Figure 96: The "Depreciable Property Assets" (list) window
3. To add a new depreciable asset, click New to open the "Depreciable Property Assets" or
“Depreciable Property Assets” window.
Figure 97: The "Depreciable Property Assets" window
4. Complete the Asset Details and Depreciation fields.
Note: It is important that you select the Existing Asset check box if this asset was part of the property or physical asset when it was acquired by the fund, and its Cost is included in the “Property" window” or “Other Physical Assets" window” window Depreciable field. This prevents a duplicate HandiLedger transaction being created.
The Existing Asset check box will not be available if there is no value entered in the
“Property” or “Other Physical Asset” window Depreciable field.
Note: You can select the depreciation method to be Diminishing Value or Prime Cost.
The method for existing assets will default to Diminishing Value.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable and GST Payable fields. However, if the fund is not able to claim the full GST amount, you must change the values to what can be claimed.
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5. Click Save to save the depreciable asset detail.
6. If required, click New to add another depreciable asset.
Note: The total cost of existing depreciable assets should equal the value entered in the
“Property” or “Other Physical Assets” window Depreciable field.
7. Click Close to exit the window.
Disposing of depreciable assets
You can edit and dispose of depreciable assets attached to a property or physical asset..
1. From the Assets menu, click Property/Real Estate or Other Physical Assets to open the
“Property” (list) or “Other Physical Assets” (list) window.
2. Highlight the applicable property or physical asset and click Depr. Assets to open the
“Depreciable Property Assets” (list) or “Other Physical Asssets – Depreciable Assets” (list) window.
3. Highlight the depreciable asset to be edited or disposed of and click Edit to open the
"Depreciable Property Assets" or “Other Physical Assets – Depreciable Assets” window.
4. To dispose of the asset, complete the Disposal fields.
5. Click Save and Close to exit the window.
After adding, editing or disposing of depreciable assets, you should revalue the affected
or physical asset . See page 81.
Viewing the depreciation history
You can view the depreciation history details of depreciable assets attached to a property or physical asset.
1. From the Assets menu, click Property/Real Estate or Other Physical Assets to open the
“Property” (list) or “Other Physical Assets” (list) window.
2. Highlight the applicable property or physical asset and click Depr. Assets to open the
“Depreciable Property Assets” (list) or “Other Physical Asssets – Depreciable Assets” (list) window.
3. Highlight the depreciable asset to be edited or disposed of and click History to open the
“Depreciation History Details” window.
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Figure 98: The "Depreciation History Details" window
4. Click Close to exit the window.
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Allocating assets to pools
You can allocate assets to the Low Value, General, or Long Life pool.
1. From the Assets menu, click Property/Real Estate or Other Physical Assets to open the
“Property” (list) or “Other Physical Assets” (list) window.
2. Click Depreciation to open the “Depreciation Schedules” window.
3. Click Pooling to open the “Depreciation Pools” window.
.
Figure 99: The "Depreciation Pools" window
4. Complete the fields and click Save and Close.
Tip: For information on asset pooling, please see the HandiLedger 2015 User Manual.
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Chapter 5. Maintaining data
This chapter discusses possible methods of fixing data corruption.
Resolving data corruption
If you suspect that the data on your computer is corrupted, you may be able to fix it by rebuilding the database:
If this does not resolve the problem, it is likely that the data will need to be restored from backup. When in doubt, contact our Software Support department for further advice.
Rebuilding the database files
This option attempts to restore integrity to corrupted SuperFund 2015 data files. There are two types of rebuilds available: -
Option Description
Re-Index only
Rebuild (Re-index and
Pack)
Performs a re-index on your existing data files. This is significantly faster than a full rebuild.
Reads all the data in your existing data files, validates each data field, and then writes the data to new data files.
Note: Where data files are damaged to the extent that data can no longer be read, then performing a rebuild will not restore this data. In such cases, restoring from backup is your best option (refer to the "Advanced Features 2015" manual).
1. Exit all computers out of all HandiSoft programs (excluding the SuperFund 2015 program on your computer).
2. From the Tools menu, click Reindex or Rebuild Database Files to open the “Reindex or
Rebuild Data” window.
Figure 100: The “Reindex or Rebuild Data” window
3. Under Data files, select the files to be reindexed or rebuilt.
4. Click Reindex or Rebuild.
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5. The "Attention" window will appear for each file that SuperFund 2015 rebuilds. In each case, click OK to continue.
6. If any error messages result when you are rebuilding the files, write down the message and then contact the HandiSoft Software Support department for assistance.
Managing code lists
You can import and edit the following code lists with prices. These lists are used for selection when adding and maintaining investments for a fund.
ASX - Companies and trusts listed on the Australian Stock Exchange, with their share prices.
APIR - Trusts and managed funds listed on the Asia Pacific Register for products in the financial services industry.
Importing code lists
The ASX and APIR code lists with prices are made available as text files which you can import into SuperFund 2015. There are three file types available.
EzyChart
Metastock
Stock Easy
1. From the
Tools menu, click Import ASX Closing Values.
2. On the “Select the ASX Code File to use for data import” window, In the
Files of Type field select the file type you would like to use to import the list.
3. Highlight the required file and click Open to import the list.
Entering and editing codes
You can manually enter and edit individual ASX, and APIR codes.
1. From the Tools menu, click ASX Codes or APIR Codes.
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Figure 101: The "ASX Codes" (list) window
2. On the “ASX Codes” (list) or “APIR Codes” (list) window, click New to add a new code or
Edit to edit the highlighted code.
Figure 102: The "ASX Codes" window
3. On the “ASX Codes” or “APIR Codes” window, click Codes to make the upper row of buttons active to add or edit a code and its name.
4. Click
Prices to make the lower row of buttons active to add or edit price information for the code.
5. Click Save to save your changes.
6. If required, add another code, or use the blue arrows to highlight a code for editing.
7. Click Close to exit the window.
Changing ASX codes from a specified date
You can change the ASX codes for shares in listed companies and units in listed trusts held by all the funds. You can specify the date from when the changes take effect.
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1. From the Tools menu, point to Change ASX Codes and then click Shares in Listed
Companies or Units in Listed Trusts. The “Change ASX Codes – Shares in Listed
Companies” or “Change ASX Codes – Units in Listed Trusts” window will open.
Figure 103: The "Change ASX Codes" window
2. In the
Date of Change field, enter the date from which the change is to take effect.
3. In the
ASX Code and New ASX Code fields, enter the old and new ASX codes.
4. Click OK.
Figure 104: The "Fund Year Profit" window
5. In the “Attention” window, click Yes if you want continue with the change.
Exporting SuperFund data to HandiTax
You can export data from SuperFund 2015 to HandiTax to be included in tax returns. To do this:
1. From the SuperFund 2015
Tools menu, click. Export Fund Data to HandiTax.
2. When you open the associated client’s superannuation return in HandiTax, it will detect that
Superfund data is available.
Note: HandiTax will only be able to detect and use the data if the fund has a corresponding
SuperFund 2015. See Chapter 2, “The Client database”.
Tip: If you want to include bank account details when exporting data to HandiTax, on the
“Bank Accounts” window, select the Use account details on tax return for refund check box.
Closing and re-opening years
Closing a year
At the end of every financial year, you should close the year and roll assets and liabilities into the following year. SuperFund 2015 provides a checklist to ensure that you have completed the required steps.
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1. If you have not already done so, from the Fund menu, click Select a Fund to select the fund and the year to be closed.
2. From the Fund menu, click. Close the Year to open the “Year Closing and Rollover
Checklist” window.
Figure 105: The “Year Closing and Rollover Checklist” window
The “Year Closing and Rollover Checklist” window ensures that you complete all the closing tasks in the correct sequence.
3. Under Step 1, click Confirm if you have completed the related task. If you want to remove the confirmation from a task, clear its check box.
Tip: If you want to perform the task, click Close to exit the window. The confirmations you have entered will remain when you next open the window.
4. When you have completed the three tasks under Step 1, you can click Lock year to prevent any further data entry for the year.
5. Under Step 2, click View to open a Member Statement report. If the member statements are correct, click Confirm.
6. Click Distribute profit in HandiLedger to distribute the fund profit in HandiLedger.
7. Under Step 3, click View to open a Tax Reconciliation report. The “Fund Year Profit” window will open for you to confirm or change the benefits accrued amount. Click
Ok.
Figure 106: The "Fund Year Profit" window
8. If the tax reconciliation is correct, click
Confirm.
9. Click
Create provision in SuperFund and HandiLedger to create a tax provision for the fund in SuperFund 2015 and HandiLedger.
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10. Under Step 4, click Close year and roll over all assets and liabilities to close the year and roll over the assets and liabilities into the next year.
11. Click OK on the “Information” window and Yes on the “Attention” window to rolling over the depreciation schedules and assets.
12. On the HandiLedger “Budget Roll Over” window click
Actuals to roll over the actual balances as budget balances the next year.
13. Click OK on the “Information” window.
The year will now be closed and the fund rolled over to the next year. To return to the closed year, from the Fund menu, click Prior Years Details.
Re-opening a year
You can reopen a year if you need to change any of the data for that year.
1. If you have not already done so, from the
Fund menu, click Select a Fund to select the find and the year to be re-opened.
2. From the Fund menu, click. Re-open the Year.
The year will be re-opened for you to change any data.
Transferring fund data
You can transfer selected fund data between SuperFund 2015 installations. Users can now change the single year fund transfer to include all the following years in the export and this will also avoid data corruption.
Note: You cannot import data that was originally exported from a different version of SuperFund
2015.
Transferring data out
You can transfer the data from the selected fund to a file, which can then be imported into another SuperFund 2015 installation.
1. Ensure that you are running the current version of SuperFund 2015. From the Help menu, click
About.
2. If necessary, from the Fund menu, click Select a Fund to select the fund and year to be transferred out.
3. From the Tools menu, click Transfer Selected Fund Data Out.
4. Click Accept for the transfer to include all following years in the export folder.
5. Select either Complete fund data or Selected year only as follows.
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6. From the Tools menu, click Transfer Selected Fund Data Out to open the “Fund Data
Transfer” out window.
Figure 107: The "Fund Data Transfer" window
7. To copy the data files to a folder on your computer or network, click Select Folder and select the destination folder.
8. To email the files, click Email recipient. The files will be compressed into a .zip file and attached to an email for you to send.
Transferring data in
You can transfer previously exported data into your SuperFund 2015 installation.
Note: You cannot import data that was exported from a different version of SuperFund 2015.
1. From the Tools menu, click Transfer Fund Data In.
2. Select the zip file containing the data to be transferred in and click Open.
3. Click Ok to the Attention window.
Figure 108: The "Fund Status" window
4. A status window will indicate successful transfer in. Click OK.
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Chapter 6. Transactions
The SuperFund 2015 Transactions menu provides a number of data entry options.
SuperFund 2015 provides special menu options that increase the speed of data entry and help ensure that data is input into SuperFund 2015 correctly. These are discussed in more detail in the following chapters.
Managing expenses
You can view, edit and enter any expenses incurred by the fund..
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Expenses, and then, depending on the expense type, click one following:
Options
Description
General
Pensions
Insurance
Premiums and
Fees
Any general expenses incurred by the fund
Pension payments to fund members
Premiums and fees paid for insurance policies.
Figure 109: The "General Expenses" window
3. On the window that opens, click New or Edit to add an expense or edit the highlighted expense. Depending on the expense type, one of the following windows will open.
General Expenses
Insurance Premiums and Fees
Pension Payments
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Figure 110: The "General Expenses" window
4. Complete the fields as required.
Click the blue arrows to move from one expense to another.
Click
New to create a new expense.
5. If you have HandiLedger installed, select the
Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
6. Complete the fields, and click Save.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Claimable field. However, if the fund is not able to claim the full GST amount, you must change the value to what can be claimed.
7. If required, click New to create a new expense or use the blue arrows to edit another expense.
8. When you have finished adding and editing expenses, click Close.
Recording employer in-specie expense payments
You can record in-specie expense payments made by the employer to the fund.
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Expenses, and then click General to open the
“General Expenses” (list) window.
3. Click New to open the “General Expenses” window.
4. Under Details, enter details of the expense payment.
5. In the Member field, select the fund member for whom the employer is making the payment.
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6. In the Contribution Type field select Employer Contribution.
Managing expenses
7. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
8. Click
Save to save the expense details, and then Close to exit the “General Expenses” window.
Repaying loans from others
You can make repayments on loans to the fund from others.
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and year, and click Select.
2. From the Transactions menu, click Repayments for Loans from Others to open the
“Loans from Others - Loan Repayment” (list) window.
Figure 111: The "Loans from Others - Loan Repayment” (list) window
3. Click New or Edit to add a loan repayment. The “Loans from Others - Loan Repayment” window will open.
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Figure 112: The "Loans from Others - Loan Repayment" window
4. Complete the fields as required.
5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
6. Click Save.
7. If required, click New to add a loan repayment or use the blue arrows to edit another repayment.
8. When you have finished adding and editing loan repayments, click Close.
Deferring payment of expenses
When you enter expenses into SuperFund 2015, you can defer the payment to a later date on the “General Expenses” ,”Insurance Premiums and Fees” and “Pension Payments” windows.
When you close the year, any unpaid expenses will be carried forward as liabilities to the next year.
To make a payment on an expense that has already been entered, do the following:
1. From the Transactions menu, point to Expenses, and then, depending on the expense type, click one following:
Options Descriptions
General
Pensions
Insurance
Policies
Any general expenses incurred by the fund
Pension payments to fund members
Premiums and fees paid for insurance policies.
2. On the window that opens, highlight the expense to be paid and click Payments to open the
“Expense Payments” window.
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Figure 113: The "Expense Payments" window
3. To record a new payment, click
New to open the “Expense Payment” window.
Figure 114: The "Expense Payment" window
4. Complete the details of the payment.
5. If you have HandiLedger installed, select the Add/modify HandiLedger transaction check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
6. Click
Save.
7. If required, use the blue arrows to edit another expense.
8. When you have finished paying expenses, click
Close.
Contributions to super funds
SuperFund 2015 enables you to enter member contributions to the super finds.
Managing member contributions
You can view, edit and delete contributions made by members to super funds:
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. On the
Access Panel or from the Transactions menu, click Contributions. The
“Contributions” window will open, listing all the contributions made to the fund.
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Figure 115: The "Contributions" window
3. To add a new contribution, click New, and enter the details of the contribution on the
“Member Contribution” window.
Figure 116: The "Member Contribution” window
4. To edit a contribution, highlight the contribution and click Edit.
5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the
Preview transaction check box to preview the transaction before posting it to HandiLedger.
6. To delete a contribution, highlight the contribution to be deleted and click Delete.
Note: Contribution Tax is automatically calculated at 15% on the concessional contributions.
Excess Contribution Tax needs to be manually entered on the “Tax Payment/Refund”
( Transactions / Tax Payments) window. Either the fund or the member can pay it. It is also
possible to split taxable contributions made by members the previous year between members.
Splitting member contributions
You can split taxable contributions made by members the previous year between members.
1. Select the fund.
From the Fund menu, click Select a Fund.
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On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, click Contribution Splitting. The “Contribution Splitting” window will open, listing all the contributions split between members.
Figure 117: The "Contribution Splitting" window
3. To add a new contribution split, click
New, and enter the details on the “Contribution Split” window.
Figure 118: The "Contribution Split” window
4. To edit a contribution split, highlight the split and click Edit.
Note: You can split up to 85% of the contribution. The remaining 15% is retained for the member’s tax obligations.
5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
6. To delete a contribution split, highlight the contribution to be deleted and click Delete.
Managing benefits
You can enter details of the following benefits received by and from the selected fund.
Rollover transfers in and out
Lump sums received
Insurance proceeds
Pensions
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Adding and editing benefits
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, click Benefits. The “Benefits” window will open, listing all the benefits received by and from the fund.
Figure 119: The "Benefits" window
3. Click New or Edit to add a new benefit or edit the highlighted benefit. The “Benefit” window will open.
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Figure 120: The "Benefit" window
4. In the Type field, select the benefit type, and complete the remaining fields.
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5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
6. If required, use the blue arrows to edit another benefit, or click New to add a new benefit.
7. Click
Save and then Close to return to the “Benefits” window.
8. Click
Close to exit the “Benefits” window.
Managing income
Bank accounts interest
1. Select the required fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Interest, and then click Bank Accounts. The “Bank
Accounts - Interest” (list) window will open, listing all the interest earned by the fund.
Figure 121: The “Bank Accounts - Interest” (list) window
3. Click New, Edit or View to add an interest receipt, or edit or view the highlighted receipt.
The “Bank Accounts - Interest” window will open.
Figure 122: The “Bank Accounts - Interest” window
4. Complete the fields as required.
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5. If the fund has received the interest, select the Received check box and, in the Date
Received field, enter the date it was received.
6. If you have HandiLedger installed, select the Modify/Add transaction to HandiLedger check box to change or create the transaction in HandiLedger. Select the
Preview
Transaction check box to preview the transaction before posting it to HandiLedger.
7. If required, use the blue arrows to edit another interest receipt, or click New to add a new one.
8. Click
Save and then Close to return to the “Bank Accounts - Interest” (list) window.
9. If applicable, you can click Delete to delete the highlighted interest receipt.
10. Click Close to exit the “Bank Accounts - Interest” (list) window.
Term deposits interest
1. Select the required fund.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Interest, and then click Term Deposits. The “Term
Deposits - Interest” (list) window will open, listing all the interest earned by the fund.
Figure 123: The “Term Deposits - Interest” (list) window
3. Click New, Edit or View to add an interest receipt, or edit or view the highlighted receipt.
The “Term Deposits - Interest” window will open.
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Figure 124: The “Term Deposits - Interest” window
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4. Complete the fields as required.
5. If the fund has received the interest, select the Received check box and, in the Date
Received field, enter the date it was received.
6. If you have HandiLedger installed, select the Modify/Add transaction to HandiLedger check box to change or create the transaction in HandiLedger. Select the
Preview
Transaction check box to preview the transaction before posting it to HandiLedger.
7. If required, use the blue arrows to edit another interest receipt, or click New to add a new one.
Dividends from listed companies
1. Select the required fund.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. On the Access Panel click Dividends or, from the Transactions menu, point to
Dividends, and then click Listed Companies. The “Shares in Listed Companies -
Dividends” window will open, listing all the dividends earned from listed companies.
Figure 125: The “Shares in Listed Companies - Dividends” window
3. Click
New, Edit or View to add a dividend receipt, or edit or view the highlighted dividend receipt. The “Shares in Listed Companies – Dividend Issue” window will open.
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Figure 126: The "Shares in Listed Companies - Dividend Issue" window
4. Complete the fields as required.
5. If the fund has received the dividend, select the Received check box and, in the Date
Received field, enter the date it was received.
6. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
7. If required, use the blue arrows to edit another dividend payment, or click
New to add a new one.
8. Click Save and then Close to return to the “Shares in Listed Companies - Dividends” window.
9. If applicable, you can click Delete to delete the highlighted dividend receipt.
10. Click Close to exit the “Shares in Listed Companies - Dividends” window.
Dividends from unlisted companies
1. Select the required fund.
From the
Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click
Select.
2. From the
Transactions menu, point to Dividends, and then click Unlisted Companies.
The “Shares in Unlisted Companies – Dividends” window will open, listing all the dividends earned from unlisted companies.
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Figure 127: The “Shares in Unlisted Companies - Dividends" window
3. Click
New, Edit or View to add a dividend receipt, or edit or view the highlighted dividend receipt. The “Shares in Unlisted Companies – Dividend Issue” window will open.
Figure 128: The "Shares in Unlisted Companies - Dividend Issue" window
4. Complete the fields as required.
5. If the fund has received the dividend, select the Received check box and, in the Date
Received field, enter the date it was received.
6. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the
Preview Transaction check box to preview the transaction before posting it to HandiLedger.
7. If required, use the blue arrows to edit another dividend payment, or click New to add a new one.
8. Click Save and then Close to return to the “Shares in Unlisted Companies - Dividends” window.
9. If applicable, you can click Delete to delete the highlighted dividend receipt.
10. Click Close to exit the “Shares in Unlisted Companies - Dividends” window.
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Distributions from listed trusts
A super fund can receive a statement of earnings, and declares income from distributions based on the date the statement is received (and pays tax on it accordingly), though it may receive the actual funds at a later date. Distributions can be marked as received when the actual funds are received, and distributions not received are rolled over from year to year. The "receivable" distributions are listed in the investment summary and opening balance reports so the total fund balance is equal to the total of the member balances.
1. Select the required fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Trust Distributions, and then click Listed Trusts.
The “Units in Listed Trusts – Distributions” window will open, listing all the distributions earned from listed trusts.
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Figure 129: The “Units in Listed Trusts - Distributions” window
3. Click New, Edit or View to add a distribution, or edit or view the highlighted distribution. The
“Units in Listed Trusts – Distribution” window will open.
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Figure 130: The "Units in Listed Trusts – Distribution" window
4. Complete the fields as required.
5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview Transaction check box to preview the transaction before posting it to HandiLedger.
6. If the distribution funds have been received, under Total, select the Received check box and, in the
Date Received field, enter the date the funds were received. Funds that have not been received can be rolled over to following year as receivables.
7. If you intend reinvesting all or part of the distribution, under Total, in the Reinvestment field, enter the amount to be reinvested.
8. If required, use the blue arrows to edit another distribution, or click New to add a new one.
9. Click Save and then Close to return to the “Units in Listed Trusts – Distributions” window.
10. If applicable, you can click Delete to delete the highlighted distribution.
11. Click Close to exit the “Units in Listed Trusts – Distributions” window.
Distributions from unlisted trusts
1. Select the required fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Trust Distributions, and then click Unlisted
Trusts. The “Units in Unlisted Trusts – Distributions” window will open, listing all the distributions earned from unlisted trusts.
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Figure 131: The “Units in Unlisted Trusts – Distributions” window
3. Click New, Edit or View to add a distribution, or edit or view the highlighted distribution. The
“Units in Unlisted Trusts – Distribution” window will open.
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Figure 132: The "Units in Unlisted Trusts – Distribution" window
4. Complete the fields as required.
5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the
Preview Transaction check box to preview the transaction before posting it to HandiLedger.
6. If the distribution funds have been received, under Total, select the Received check box and, in the
Date Received field, enter the date the funds were received. Funds that have not been received can be rolled over to following year as receivables.
7. If you intend reinvesting all or part of the distribution, under Total, in the Reinvestment field, enter the amount to be reinvested.
8. If required, use the blue arrows to edit another distribution, or click New to add a new one.
9. Click Save and then Close to return to the “Units in Unlisted Trusts – Distributions” window.
10. If applicable, you can click Delete to delete the highlighted distribution.
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SuperFund 2015
11. Click Close to exit the “Units in Unlisted Trusts – Distributions” window.
Managing income
Distributions from managed funds
1. Select the required super fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. On the
Access Panel or from the Transactions menu, click Managed Fund Distributions.
The “Managed Funds – Distributions” window will open, listing all the distributions earned from managed funds.
Figure 133: The “Managed Funds – Distributions” window
3. Click New, Edit or View to add a distribution, or edit or view the highlighted distribution. The
“Managed Funds – Distribution” window will open.
Figure 134: The "Managed Funds – Distribution" window
4. Complete the fields as required.
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5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview Transaction check box to preview the transaction before posting it to HandiLedger.
6. If the distribution funds have been received, under Total, select the Received check box and, in the Date Received field, enter the date the funds were received. Funds that have not been received can be rolled over to following year as receivables.
7. If you intend reinvesting the distribution, under Total, in the Reinvestment field, enter the number of units to be acquired.
8. If required, use the blue arrows to edit another distribution, or click New to add a new one.
9. Click Save and then Close to return to the “Managed Funds – Distributions” window.
10. If applicable, you can click Delete to delete the highlighted distribution.
11. Click
Close to exit the “Managed Funds – Distributions” window.
Distributions from partnerships
1. Select the required super fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, click Partnership Distributions. The “Partnerships –
Distributions” window will open, listing all the distributions earned from investing in partnerships.
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Figure 135: The “Partnerships – Distributions” window
3. Click
New, Edit or View to add a distribution, or edit or view the highlighted distribution. The
“Partnerships – Distribution” window will open.
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Figure 136: The "Partnerships – Distribution" window
4. Complete the fields as required.
5. If the fund has received the distribution, select the Received check box and, in the Date
Received field, enter the date it was received.
6. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview Transaction check box to preview the transaction before posting it to HandiLedger.
7. If required, use the blue arrows to edit another distribution, or click
New to add a new one.
8. Click Save and then Close to return to the “Partnerships – Distributions” window.
9. If applicable, you can click Delete to delete the highlighted distribution.
10. Click Close to exit the “Partnerships – Distributions” window.
Deferring receiving of distributions
When you enter distributions into SuperFund 2015, you can defer the receiving of the money to a later date by leaving the Received and Date Received fields blank on the “Units in Listed
Trusts - Distribution”, “Units in Unlisted Trusts - Distribution”, “Managed Funds - Distribution” and “Partnerships – Distribution” windows.
When you close the year, any unpaid distributions will be carried forward as receivables to the next year.
To receive a payment from a distribution that has already been entered, do the following:
1. From the Transactions menu do any of the following, depending on the type of distribution:
Click Managed Fund Distributions.
Point to Trust Distributions, and then click Listed Trusts.
Point to Trust Distributions, and then click Unlisted Trusts.
Click Partnership Distributions.
2. On the window that opens, highlight the distribution to be paid and click Edit. Depending on the distribution type, one of the following windows will open.
Units in Listed Trusts - Distribution
Units in Unlisted Trusts - Distribution
Managed Funds - Distribution
Partnerships - Distribution
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3. Select the Received check box and, in the Date Received field, enter the date the money was received.
4. If you have HandiLedger installed, select the Add/modify HandiLedger transaction check box to create a transaction in HandiLedger. Select the Preview transaction check box to preview the transaction before posting it to HandiLedger.
5. Click Save.
6. If required, use the blue arrows to edit another distribution.
7. When you have finished receiving distributions, click Close.
Return of capital
1. Select the required super fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Return of Capital and click either Listed
Companies, Unlisted Companies, Units in Listed Trusts – Return of Capital, Units in
Unlisted Trusts – Return of Capital, Managed Funds or Partnerships. The “Shares in
Listed Companies – Return of Capital”, “Shares in Unlisted Companies – Return of Capital”,
“Units in Listed Trusts – Return of Capital”, “Units in Unlisted Trusts – Return of Capital”,
“Managed Funds – Return of Capital” or “Partnerships – Return of Capital” window will open, listing all the returns of capital from share holdings.
Figure 137: The “Shares in Listed Companies – Return of Capital” (list) window
3. Click
New, Edit or View to add a return of capital, or edit or view the highlighted return. The
“Shares in Listed Companies – Return of Capital” or “Shares in Unlisted Companies –
Return of Capital” window will open.
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Figure 138: The "Shares in Listed Companies – Return of Capital" window
4. Complete the fields as required.
If the funds have been received, under Receipt, select the Received check box and, in the
Date Received field, enter the date of receipt. To defer the receipt, leave the fields under
Receipt blank.
5. If you have HandiLedger installed, select the Add transaction to HandiLedger check box to create a transaction in HandiLedger. Select the Preview Transaction check box to preview the transaction before posting it to HandiLedger.
6. If required, use the blue arrows to edit another return, or click New to add a new one.
7. Click Save and then Close.
Tax payments and refunds
You can add, edit and delete records of Excess Contributions Payment, PAYG, PAYG
Withholding and GST payments and refunds.
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, click Tax Payments/Refunds. The “Tax Payments &
Refunds” window will open, listing all the tax payments and refunds made or received by the fund.
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Figure 139: The "Tax Payments & Refunds" window
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Chapter 6. Transactions SuperFund 2015
3. Click New to add a payment or refund, or Edit to change the highlighted payment or refund.
The “Tax Payment/Refund” window will open.
Figure 140: The "Tax Payment/Refund" window
4. Complete the fields as required.
5. If the payment or refund has been made, click
Payments to open the “Tax Payments” window.
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Figure 141: The "Tax Payments" window
6. If you have HandiLedger installed, under Generate opening Transactions and Generate
Payment Transactions, select the Modify/Add transaction to HandiLedger check box to change or create an opening and payment transaction in HandiLedger. Select the
Preview
Transaction check boxes to preview the transactions before posting it to HandiLedger.
7. Click
Save.
8. If required, use the blue arrows to edit another payment or refund, or click
New to add a new one.
9. Click Close to return to the “Tax Payments & Refunds” window.
10. If required, to delete a payment or refund, highlight the payment or refund and click Delete.
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SuperFund 2015 Tax payments and refunds
Making or receiving a tax payment or refund
After you have entered a tax payment or refund amount, you can record and manage payments and receipts via the “Tax Payments” window.
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the
Transactions menu, click Tax Payments/Refunds to open the “Tax Payments &
Refunds” window.
3. Highlight the payment or refund to be made or received, and click Payments to open the
“Tax Payments” window.
Figure 142: The "Tax Payments" window
4. Click New to open the “Tax Payment” window.
Figure 143: The "Tax Payment" window
5. Under Payment Details, enter details of the payment or refund being made received.
6. If you have HandiLedger installed, select the Modify/Add transaction to HandiLedger check box to change or create the transaction in HandiLedger. Select the
Preview
Transaction check box to preview the transaction before posting it to HandiLedger
7. Click Save and Close.
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Managing properties
SuperFund 2015
Property additions
You can add, edit and delete records of additions to property owned by the selected fund.
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, point to Asset Additions, and then click Property
Additions. The “Property Additions” window will open, listing all the additions made to the fund’s properties.
Figure 144: The "Property Additions" window
3. Click New to create a new addition, or Edit to change the highlighted addition. The
“Property Addition” window will open.
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Figure 145: The "Property Addition" window
4. Complete the fields as required.
5. If you have HandiLedger installed, select the Modify/Add transaction to HandiLedger check box to change or create the transaction in HandiLedger. Select the
Preview
Transaction check box to preview the transaction before posting it to HandiLedger.
6. Click Save.
7. If required, use the blue arrows to edit another addition, or click New to add a new one.
8. Click Close to return to the “Additions” window.
9. If required, to delete an addition, highlight the addition and click Delete.
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SuperFund 2015 Managing properties
Rental income
You can add, edit and delete records of rental income from properties.
1. Select the fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Transactions menu, click Rental Income. The “Rental Income” window will open, listing all the rental income receipts from the fund’s properties.
Figure 146: The "Rental Income" window
3. Click New to add a rental receipt, or Edit to change the highlighted receipt. The “Rent” window will open.
Figure 147: The "Rent" window
4. Complete the fields as required.
Note: If the selected fund is registered for the GST , SuperFund 2015 will automatically
complete the GST Payable field.
5. If the fund has received the payment, select the Received check box and, in the Date
Received field, enter the date it was received.
6. If you have HandiLedger installed, select the Modify/Add transaction to HandiLedger check box to change or create the transaction in HandiLedger. Select the
Preview
Transaction check box to preview the transaction before posting it to HandiLedger.
7. Click Save.
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8. If required, use the blue arrows to edit another rental income receipt, or click New to add a new one.
9. Click Close to return to the “Rental Income” window.
10. If required, to delete a rental receipt, highlight the receipt and click Delete.
Processing bank statements
You can manually enter or directly import bank statements, and then quickly process the entries as transactions in SuperFund 2015.
Auto-code settings
If you manually enter or import bank statements into SuperFund 2015, you can create a set of auto-code rules that match search words and phrases with specified transaction details. Bank statement entries containing the search words or phrases are then automatically coded as the transactions specified in the rule.
When you code bank statement entries on the “Bank Statement Entry/Import” window, you can
click Store to save the settings as a rule.
You can also set up your auto-code rules as follows:
1. From the Tools menu, click Bank Statement Search Terms to open the “Auto-code
Search Words/Phrases” window.
Figure 148: The “Auto-code Search Words/Phrases” window
2. To add a new rule, click
New to open the “Auto-code Settings” window.
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Figure 149: The “Auto-code Settings” window
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SuperFund 2015 Processing bank statements
3. Under Search Word/Phrase, type two words or phrases that will be used to detect matching bank statement entries.
4. Under Transaction Coding and Transaction Details, select details of transactions that will be created for bank statement entries that have the specified search words and phrases.
Note: Statement entries that match both a Word/Phrase 1 AND Word/Phrase 2 will take precedence over a match with a search term that has only a Word/Phrase 1.
5. Click Save and Close.
Manually entering bank statements
The following procedure describes how you manually enter bank statement entries, and then specify how they are to be processed as transactions in SuperFund 2015. For information of
directly importing bank statements, see “ Importing bank statements ” on page 134.
1. From the Transactions menu, click Bank Statements to open the “Bank Statement
Entry/Import” window.
Figure 150: The "Bank Statement Entry/Import" window
2. Click
Edit, and type the bank statement entry information into the Date, Description and
Amount columns.
3. In the Type and Transaction columns, select how the entry is to be processed as a transaction in SuperFund 2015.
4. Highlight each entry to be processed as a transaction and click Process.
5. Depending on what you selected in the Type and Transaction columns, SuperFund 2015 will open the relevant window for you to complete details of the transaction. For example, if you selected ‘Income’ and ‘Rental income’ for the Type and Transaction, the “Rent” window will open.
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Figure 151: The "Rent" window
6. Complete any remaining fields on the transaction window and click Save.
7. On the “Bank Statement Entry/Import” window, the Done column will show a ‘Y’, indication the entry has been processed.
8. If you want to save the transaction settings to auto-code future bank statement entries, highlight the entry and click Store to open the “Auto-code Settings” window.
Figure 152: The "Auto-code Settings" window
9. Complete the window fields as required and click Save. If you now import bank statements, any entries that contain what you have typed in the Word/Phrase 1 and Word/Phrase 2 fields will be automatically coded as the specified transactions.
10. When you have completed entering and processing banks statement entries, click Close to exit the “Bank Statement Entry/Import” window. You will be asked if processed transactions are to be deleted. If you click Yes, all entries with a ‘Y’ in the Done column will be deleted.
Importing bank statements
You can import bank statements as .csv or .txt files directly into SuperFund 2015. If you have set up auto-code rules, the bank statement entries can be automatically coded for processing as transactions.
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SuperFund 2015 Processing bank statements
1. From the Transactions menu, click Bank Statements to open the “Bank Statement
Entry/Import” window.
2. To import a bank statement, click Import. The “Bank Statement Import” window will open.
Figure 153: The “Bank Statement Import” window
3. If you have previously saved a profile for importing that type of bank statement, in the
Import Profile field, click to select the profile on the “Bank Statement Import Profiles” window.
Figure 154: The “Bank Statement Import Profiles” window
4. In the File path field, click to select the file to be imported. In the First Line field, type the line number that contains the first bank statement entry.
5. Once you have selected an import file, the information contained in it will be displayed under Column Preview. If you have selected a profile, the information should relate to the column headings. If not, click on the headings and select the correct terms.
6. Click Import to import the bank statement file.
7. If you want to save the import profile for future use, click Yes on “Attention” window.
The “Bank Statement Entry/Import” window will list the imported bank statement entries. If you have set up auto-coding rules, the Type and Transaction columns will already be completed. You can change these, if necessary.
8. Highlight each entry and click
Process. The relevant transaction window will open. If you have set up auto-coding rules, the fields will already be completed. Click Save to save the transaction.
9. If you have changed any of the fields for an entry, you can click Store to save the auto-code settings.
10. When you have completed the processing, lick Close to exit the “Bank Statement
Entry/Import” window. You will be asked if processed transactions are to be deleted. If you click Yes, all entries with a ‘Y’ in the Done column will be deleted.
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BankLink imports
You can import transactions from BankLink files into SuperFund 2015.
1. Select the fund into which the transactions are to be imported.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Tools menu, click BankLink Import.
3. On the “Select the BankLink XML file to use for data import” window, highlight the required
.xml BankLink file and click
Open.
SuperFund 2015 will import the file and display a completion message.
Figure 155: The “Import Complete” Window
4. Click OK.
5. From the Transactions menu, click Bank Statements to open the “Bank Statement
Entry/Import” window.
The “Bank Statement Entry/Import” window will list the imported bank statement entries. If
you have set up auto-coding rules , the
Type and Transaction columns will already be completed. You can change these, if necessary.
6. Highlight each entry and click Process. The relevant transaction window will open. If you have set up auto-coding rules, the fields will already be completed. Click Save to save the transaction.
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Chapter 7. General Ledger
The SuperFund 2015 Ledger menu is used for managing a General Ledger, where each Super fund is recorded as an entity.
Viewing and editing a fund's chart of accounts
1. Select the required fund.
From the Fund menu, click Select a Fund.
On the “Select a Fund” window, highlight the required fund and click Select.
2. From the Ledger menu, click Chart of Accounts to open the “Chart of accounts” window.
Figure 156: The "Chart of Accounts" window
3. Click the tab for the correct account type, such as Expenses.
4. Use the New Edit and Delete buttons to change the client chart as required.
Setting up accounts
You can select the accounts to be used for the different Super fund components.
1. From the Ledger menu, click Account Setup to open the “HandiLedger Account Setup” window.
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Figure 157: The "HandiLedger Account Setup" window
2. At the top of the window, click the tab for the required account grouping.
3. In each of the fields, press F2 or click to select the required account.
4. Click OK to confirm your selections and close the window.
Operating the "Transactions" window
You can view transactions that have been processed for the selected fund from the
"Transactions" window.
Open the "Transactions" window
To open the "Transactions" window, do either of the following:
From the Ledger menu, click GL Transactions.
On the Access Panel, click GL Transactions.
The top part of the “Transactions” window lists all the transactions for the selected entity and year. The bottom part of the window lists all the ledger entries for the transaction currently highlighted in the top part of the window.
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Figure 158: The "Transactions" window
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SuperFund 2015 Operating the "Transactions" window
Tip: For information on the "Transactions" window, press F1 to display the online help.
Editing and deleting transactions
We strongly recommend that you do not change or remove any of the transactions created by SuperFund 2015.
Attaching narrations
You can attach a narration to any transaction from the "Transactions" window.
1. On the "Transactions" window, highlight the transaction to which the narration is to be attached.
2. Click Notes. The "Narration for Transaction" window will open.
Figure 159: The "Narration for Transaction" window
3. Type in the narration text, and click Save.
4. The "Transactions" window will display an 'N" in the end column, indicating that the transaction has a narration attached.
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Chapter 8. Reports
The SuperFund 2015 Reports menu allows you to view and print a variety of standard reports.
Standard reports
From the Reports menu, you are able to access the following standard reports:
Reports Description
Cash Book The report shows cash book entries for selected fund for the current financial year.
Expenses
Purchases and Disposals This report lists all the purchases and disposals by the selected fund during the financial year.
GST Reconciliation
This report provides a summary of the expenses for the selected fund.
The report shows the GST claimable and payable by the selected fund.
PAYG Withholding
Reconciliation
Investment Income
The report shows the PAYG Withholding liability of the selected fund.
The report shows the income from investments held by the selected fund.
Realised Capital Gains
Unrealised Capital Gains The report shows the capital gains from investments by the selected fund that have not yet been realised.
When you run the report, you will be given the option to run the report for only current year unrealised gains (based on year opening market values), or for the lifetimes of the assets currently held (based on asset cost).
Investment Summary
The report shows the capital gains from disposals of investments by the selected fund that have been realised.
Investment Class
Summary
The report summarises the investments held by the selected fund.
The report summarises the amounts in the investment classes held by the selected fund.
Investment Strategy The report outlines the investment strategy for the selected fund.
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TFN Credit
Imputation Credit
Foreign Tax Credit
Members Statements
Members Contributions
Tax Reconciliation
Accounting Profit
Breakdown
Opening balances
Distribution errors
Client Notes Report
The report lists the Tax File Number credits for the selected fund.
The report lists the Imputation credits for the selected fund.
The report lists the Foreign Tax credits for the selected fund.
The report shows details of a selected member or all members of the selected fund.
The report lists details of contributions to the fund by a selected member or all members.
This report reconciles the tax payments and receipts for the selected fund.
This report provides a profit breakdown for the selected fund.
The report summarises the opening balances for the fund at the beginning of the selected year.
This report displays all distributions where the total of the individual income values does not equal the net receivable value. This can be the cause of the HandiLedger "funds not yet allocated" problem on year rollover.
When entering these values a warning is displayed, so these errors are from when the warning is ignored.
This report lists all or specified notes attached to clients.
Generating a standard report
You can generate any of the reports under the Reports menu as follows:
1. From the Reports menu, click the required report.
2. The “Report Options” window will open.
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Figure 160: The “Report Options” window
3. Under Header Options, select how the date and time and page numbers are to be displayed on the report.
4. Click OK.
5. SuperFund 2015 will display the report in the “Report Preview” window. From this window, you can edit the report, export the report to Microsoft Word, Microsoft Excel and PDF, print the report and email the report. To exit from the “Report Preview” window, click Close.
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SuperFund 2015 Saving reports to disk
Saving reports to disk
Once you have viewed a report in the “Report Preview” window, you can save it for later use.
Note: You are not able to save reports generated from the Document Manager and Jobflow
Manager in this manner. You can, however, export and save them as Word, Excel, PDF and
HTML files.
Caution: The information in the saved report is not updated to reflect changes made to the HandiSoft database.
Save a report
1. Preview the required report in the “Report Preview” window.
2. Click
Save.
3. On the "Save Report" window, specify the name under which the report is to be saved.
4. Select the Save to Document Manager check box if you want the report saved to either the selected client folder or your import folder in the Document Manager.
Clear the Save to Document Manager check box if you do not want to save the report to the Document Manager. You can then retrieve the report via the Saved Reports command in the Reports menu.
5. Click OK to save the report.
Retrieve a report
If a report has been saved to the Document Manager, you can retrieve it by opening it in the
Document Manager. If the report was not saved to the Document manager, you can retrieve it as follows:
1. From the Reports menu, click Saved Reports. The "Saved Reports" window will open, listing all the saved reports.
Figure 161: The "Saved Reports" window
2. Highlight the required report and click Preview.
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Chapter 8. Reports
3. The program will display the report in the “Report Preview” window.
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Superannuation terms
Account-based super income streams
An account-based benefit is an income stream where an account balance is attributable to the member. That is, the amount supporting the income stream must be allocated to a separate account for each member.
Assessable income
This is income that a person must include in their income tax return.
Annual deductible amount / Deductible amount
The annual deductible amount is that part of the undeducted purchase price (UPP) used in determining the taxable amount of an income stream received in a particular year. See
Undeducted Purchase Price partial commutation of post-June 1994 pension or annuities
CGT
Capital Gains Tax
CGT exempt component
An employer termination payment will have a CGT exempt component if the payment arose because a taxpayer claimed the small business exemption in relation to a CGT asset of the taxpayer.
Commutation
This is the process of converting an income stream into a lump sum payment. This payment can be paid to the beneficiary or rolled over to another product within the same superannuation fund, or to another superannuation fund.
Concessional component
A concessional component is that part of a superannuation lump sum which represents a bona fide redundancy payment, an approved early retirement scheme payment or an invalidity payment that was made before 1 July 1994.
Contributions segment
The contributions segment forms part of the tax-free component of a super interest.
It generally includes contributions made in respect of a member from 1 July 2007 that have not been included in the assessable income of the superannuation fund. Typically these would be member contributions where no personal tax deduction has been claimed by the member.
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Superannuation terms SuperFund 2015
Crystallisation
This is the process that sets or determines the tax-free component of a super interest at 30
June 2007.
Crystallised segment
The crystallised segment forms part of the tax-free component of a super interest. It is the total of the following components:
the concessional component
the post-June 1994 invalidity component
the undeducted contributions
the CGT exempt component
the pre-July 1983 component
The segment is calculated by assuming that an eligible termination payment representing the full value of the super interest is paid just before 1 July 2007.
Disability superannuation benefit
A disability super benefit means a super benefit if:
the benefit is paid to a person because he or she suffers from ill-health (whether physical or mental), and
two legally qualified medical practitioners have certified that because of the ill-health, it is unlikely that the person can ever be gainfully employed in a capacity for which he or she is reasonably qualified because of education, experience or training.
Element untaxed in the fund
This is the part the taxable component of a super benefit that has not been taxed in the fund.
Element taxed in the fund
This is the part the taxable component of a super benefit that has been taxed in the fund.
Eligible service period - superannuation fund
Generally, this is the period from the day membership with a fund commenced through to the day membership ceased. Where monies have been rolled over into the current fund from another fund, the commencement date will be the day membership commenced with the earlier fund if this is an earlier date than the current fund membership start date.
Where the fund is an employer sponsored fund, the membership commencement date will be the earlier of the day membership commenced with the fund or the day employment commenced.
Where an employer eligible termination payment has been rolled over into the fund, the membership commencement date is the earlier of the day membership commenced with the fund or the day employment commenced.
Eligible termination payment (ETP)
Generally, lump sum payments made before 1 July 2007 in consequence of termination of employment, or a lump sum payment made before 1 July 2007 from a superannuation fund, approved deposit fund (ADF) or retirement saving account (RSAs) etc, by virtue of being or having been a member of the super fund, ADF or RSA.
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Excessive component
This is the part of an ETP which exceeded the recipient’s reasonable benefit limit. (RBLs were abolished as of 1 July 2007.)
Income stream benefit
A superannuation income stream is a regular series of payments from a superannuation fund. It has the meaning given by section 307-70 of ITAA 1997.
In-specie contribution
An in-specie contribution is a non-cash contribution to a super fund; for example, transferring the title of an office into the name of the fund’s trustees or transferring ownership of shares.
LIC capital gain
A LIC capital gain is a capital gain made by a listed investment company (LIC) from a capital gains tax (CGT) event that happens on or after 1 July 2001. This enables shareholders such as individuals, trusts and super funds to claim the applicable capital gain discount as though they owned the stock themselves.
Dividend statements will clearly distinguish between the normal dividend and the LIC capital gain portion, and will advise the required taxation disclosures.
Lump sum
A Superannuation lump sum is the benefit taken as a lump sum payment from a superannuation plan, rather than as an income stream.
Non-account-based super income streams
There is no account balance attributable to the recipient of the income stream and the income stream is funded from general reserves of the fund or, in the case of some unfunded public sector schemes, consolidated revenue.
Non-qualifying component
This represents the earnings on any annuities that were purchased with non-superannuation or termination of employment money. These amounts did not qualify for RBL concessional tax rates and were taxed as ordinary income. Very few benefits will have a non-qualifying component.
Pay as you go (PAYG)
This is a single, integrated system for reporting and paying withholding amounts and tax on business and investment income.
Pension or annuity
This is a benefit made up of a series of payments
Post-June 1994 Invalidity Component
A Post-June 94 Invalidity component is the amount of the eligible termination payment that consists of, or is attributable to an invalidity payment made on or after 1 July 1994.
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Pre-July 1983 component
A benefit may have a pre-July 1983 component if the recipient’s eligible service period started before 1 July 1983.
Proportioning rule
The proportioning rule provides that when a super benefit is paid from a super interest, the benefit will include both tax-free and taxable components calculated in the same proportion that these components make up the total value of the super interest.
Example
The amount of a super lump sum benefit is $1,000. Just before the benefit is paid, the total value of the super interest was $10,000 (of which $4,000 was the tax-free component and
$6,000 was the taxable component). This proportion of tax-free and taxable components will apply to the lump sum benefit. Therefore the lump sum benefit will consist of $400 tax-free component and $600 taxable component.
Reversionary income stream death benefit
This is an income stream which on your death continues to be paid to your nominated beneficiary.
Roll-over
A roll-over is:
the transfer of all or part of an employer termination payment into a superannuation fund (can occur only in very limited situations), or
a transfer of a member’s capital value from one superannuation fund to another or to a new product within the same fund.
Service period
See Eligible service period - superannuation fund .
Superannuation benefit
A super benefit is the amount paid either as a superannuation income stream, lump sum or a combination of both, and is a payment usually made by a superannuation fund. It includes the following payments:
a superannuation fund payment to the member
a retirement savings account (RSA) payment to the holder of the RSA account
an approved deposit fund payment to the depositor
a small superannuation account payment to the holder of the account
an unclaimed money payment to the person because the person or another person who has died was the member or holder in relation to the money
a superannuation co-contribution benefit payment
a superannuation guarantee payment, and
a superannuation annuity payment paid to the annuitant (including a payment arising from the commutation of the superannuation annuity).
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Superannuation income stream
A superannuation income stream is a regular series of payments from a superannuation fund. It has the meaning given by section 307-70 of ITAA 1997.
Superannuation interest
Superannuation interest means:
an interest in a superannuation fund
an interest in an approved deposit fund
an interest in an RSA, or
an interest in a superannuation annuity.
A super interest is generally any amount, benefit or entitlement which a member holds in a fund.
The total value of a member’s super interest at a particular time is the total amount of all superannuation lumps sums, benefits or entitlements that could be payable from the interest at a particular time. Typically this is the member’s total account balance in the fund.
Super interest below $200
Where a person’s super interest in a superannuation plan is less than $200 and the entire amount is paid out as a superannuation lump sum, the benefit will be non-assessable nonexempt income if certain conditions are met. See
Super Benefits under $200
.
Superannuation lump sum
A Superannuation lump sum is the benefit taken as a lump sum payment from a superannuation plan, rather than as an income stream.
Tax-free component – super interest
The tax-free component of a super interest is the total value of the following segments:
the contributions segment, and
the crystallised segment.
Taxable component – super interest
The taxable component of a super interest or benefit is the total value of the interest or benefit less the tax-free component. The taxable component is usually made up of tax deductible contributions made to the superannuation fund by the person and/or by the employer on the person’s behalf, as well as earnings on all contributions.
Taxed Source
This refers to superannuation funds, approved deposit funds or retirement savings accounts
(RSAs) which pay tax under the standard superannuation tax provisions.
Undeducted contributions
Undeducted contributions are contributions paid by the taxpayer or by a person other than an employer of the taxpayer to a superannuation fund where no deduction has been allowed for the contributions. These contributions must have been paid on or after 1 July 1983.
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Untaxed Source
An untaxed source is typically a government fund for public servants where the fund does not pay tax on contributions and earnings it receives.
Undeducted purchase price (UPP)
This is the amount contributed towards the purchase of a pension or annuity that was not eligible for a tax deduction, for example undeducted contributions.
Unused undeducted purchase price (unused UPP)
The unused UPP is the UPP at the time the income stream commenced less the amounts subsequently claimed as deductible amounts against the income stream.
Valuation factor
This is the factor used for determining the capital value of a super interest upon conversion of an income stream to an equivalent lump sum. It is based on the age of the recipient at commencement of the income stream, the level of reversion and the level of indexation. The income stream valuation factors can be found in the Income Tax Assessment Regulations 1997
Schedule 1B.
Withholding tax
This is tax that is deducted at the source: on interest, dividend and royalty payments made to non-residents, and certain investments or payments to residents where the recipient has not provided their tax file number.
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Index
A accounts, selecting for ledger 137 actuary percentage, setting 49 adding a fund 35
APIR codes importing and editing 100
Tools menu 24 artworks and collectables adding and editing 18 allocating to members 91 disposing of 87 purchasing 68 assets adding 41 allocating to members 89 deleting 92 disposing of 83 editing 71 purchasing 62 revaluing 18, 79
ASX codes changing 101 importing and editing 100
Tools menu 24
B bank accounts interest receipts 19, 115 purchasing 62 transferring funds 71 viewing and editing 71 bank statements
BankLink imports 136 importing 135 manually entering 133 processing 132
Transactions menu 19
BankLink files, importing 136
C cancelling insurance policies 73 changing ASX codes 101
Chart of Accounts customising for entity 137 selecting accounts 137 client notes adding and editing note types 31
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client notes report 33 recording notes 30 clients adding clients 30
Client database, opening 27 client notes 30 copying from another client 30 extra details 34 closing a year 16, 102 colours, setting screen 14 configuring Superfund 14 consolidating and splitting share holdings 74 copying client details 30 corruption resolving 99
D database rebuilding files 24, 25, 99 reindexing files 25, 99 deferring expense payments 110 deferring receiving of distributions 125 deleting assets 92 depreciable assets adding depreciable assets 94 allocating assets to pools 97 depreciation history 96 disposing of depreciable assets 96 setting up depreciation schedules 94 depreciating property and other physical assets
93 distributions deferring receiving 125 from managed funds 20 from partnerships 20 from trusts 20, 120 dividends from shares 20
E errors, correcting 99 exit Superfund 14 expenses deferring payments 110 employer in-specie payments 108 entering into SuperFund 107 exporting to HandiTax 102 extra client details, storing 34
F financial investments, editing 18 funds actuary percentage 49 adding 16, 35 adding assets 41 adding receivables 42 insurance proceeds 113 lump sums 113 managing benefits 19, 113
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Index
managing expenses 19, 107 managing income 115 member contribution splitting 19 member contributions 19, 111 pension payments 113 repaying loans from others 109 rollover transfers 113 selecting for processing 16 setting investment categories 47 splitting member contributions 112 viewing and editing 48
G
GST, registering for 36, 49
GST, registering for 61
H
HandiLedger distribution transactions 43, 121 dividend transactions 118 interest transactions 116 rental income transactions 129, 130, 131 tax payments and refunds 128
HandiTax, exporting data to 102
I in-specie contributions 70, 108 insurance policies cancellation 73
Members menu 17 premiums and fees 107, 110 purchasing 66 viewing and editing 73 interest from bank accounts 115 from term deposits 116 investment strategy, setting and viewing 47
L loans from others adding 63 repaying 109 viewing and editing 71 loans to others adding 63 viewing and editing 71 lump sums 113
M managed investments allocating to members 89 disposing of 83 purchasing 64 viewing and editing 72 members adding 37, 50
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allocating assets 17, 39, 40, 52 allocation worksheet 54 contributions 111 entering opening balances 38 managing pensions 17, 51 pension payments 107, 110 splitting contributions 112
N narrations in transactions 139
O off-market buy-back of shares 85 opening balances, entering for members 38, 51 option settings actuary percentage 16 fund setup 16 investment strategy 16 other financial assets allocating to members 90 disposing of 86 other physical assets allocating to members 92 depreciating 93 disposing of 88 purchasing 69
P pensions adding and editing 51 payments 107, 110 setting up pensions 38 transition to retirement 39, 52 physical assets, viewing and editing 73 property adding 18, 21, 130 allocating to members 91 depreciating 93 disposing of 86 editing 18 purchasing 66 rental income 20, 131
R rebuilding database files 99 receivables, adding 42 re-opening a year 104 reports retrieving saved reports 143 saving 143 standard reports 22, 141 return of capital 126 revaluing artworks, collectables, metals and jewels 80 assets 18 financial investments 79 other physical assets 81
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properties 82 rollover transfers 113
S shares allocating to members 89 consolidating and splitting 74 disposing of 83 dividend receipts 117 off-market buy-back 85 purchasing 64 return of capital 20, 126 viewing and editing 72
SMS messaging sending messages 33 splitting member contributions 112
T tax payments and refunds 20, 127 term deposits interest receipts 116 purchasing 62 viewing and editing 71 transactions processing bank statements 19, 132 viewing 138 transferring between bank accounts 71 transition 52 transition to retirement pension 39
U unit trusts allocating to members 89 disposing of 83 distributions 120 purchasing 64 viewing and editing 72
W windows
About Superfund 14
Actuary Percentage 49
Add a New Fund 35
Additions 130
APIR Codes 100
Artwork etc. 41
Asset Allocation 90
Auto-code Search Words/Phrases 132
Auto-code Settings 132
Bank Account Funds Transfer 72
Bank accounts 41
Bank Accounts 62
Bank Accounts - Interest 115
Bank Statement Entry/Import 133
Bank Statement Import 135
Bank Statement Import Profiles 135
Benefit 114
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Index
Benefits 114
Change ASX Codes 102
Chart of accounts 137
Client Note 31
Client Note Types 31
Client Notes For 31
Client Notes Report 33
Clients 27
Clients Detail 29
Consolidation/Split - Shares in Listed
Companies 75
Contribution Split 113
Contribution Splitting 113
Contributions 111
Controls Colour Setup 14
Depreciable Property Assets 95
Depreciable Property Assets - property 94
Depreciation History Details 96
Depreciation Pools 97
Depreciation Schedule 94
Depreciation Schedules 94
Expense Payment 110
Expense Payments 110
Fund Details 48
Fund Expenses 107, 110
Fund Members 50
HandiLedger Account Setup 137
Insurance Policies 41
Insurance Premiums and Fees 107, 110
Investment Categories 47
Investment Strategy 48
Loans from Others 63
Loans from Others – Loan Repayment 109
Loans to Others 63
Managed Investments 41
Member Allocation Worksheet 54
Member Allocations 39
Member Contribution 112
Member Details 37
Member Opening Balances 38
Opening Balances 37
Other Financial Assets 41
Other Physical Assets 41
Other Physical Assets - Depreciable Assets 95
Other Physical Asssets - Depreciable Assets 94
Pension 51
Pension Payments 107, 110
Pensions 51
Property 41
Rent 131
Rental Income 131
Revaluation - Financial Investments 79
Revaluation – Physical Assets 80
Select a Fund 48
Shares in Listed Companies 41
Shares in Listed Companies – Dividend Issue
117
Shares in Listed Companies - Dividends 117
Shares in Listed Companies – Return of Capital
126
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Index
Shares in Unlisted Companies 41
Shares in Unlisted Companies – Dividend Issue
119
Shares in Unlisted Companies – Dividends 118
Shares in Unlisted Companies – Return of
Capital 126 starting Superfund 14
Tax Payment/Refund 128
Tax Payments & Refunds 127
Term deposits 41
Term Deposits 62
Term Deposits - Interest 116
Transactions 138
Units in Listed Trusts 41
Units in Listed Trusts – Distribution 120
Units in Listed Trusts – Distributions 120
Units in Unlisted Trusts 41
Units in Unlisted Trusts – Distribution 122, 123,
124
Units in Unlisted Trusts – Distributions 121, 123,
124
Year Closing and Rollover Checklist 103
SuperFund 2015
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Key features
Manage superannuation funds
Add and manage clients
Add and manage funds
Manage assets and investments
Process transactions
Generate reports for superannuation operations
Frequently asked questions
You can add a new fund by navigating to the 'Funds' menu and selecting the 'Add New Fund' option. Follow the on-screen instructions to enter the fund details.
The 'Assets' menu allows you to purchase, view, edit, and dispose of assets. You can also track the performance of your investments by running reports on various asset categories.
The 'Transactions' menu lets you manage expenses, contributions, benefits, income, and tax payments. You can also process bank statements and reconcile your accounts.
