SuperConcepts has announced an update to its SMSF accounting platform, SuperMate, with the launch of a new Transaction Centre.
The new Transaction Centre provides efficiencies for accountants and advisers through:
- efficient daily reconciliation through an intelligent automation engine
- daily data feeds, and
- customised automated reconciliation rules.
With the ATO now requiring more regular reporting, there is a real need for reliable, daily-reconciled data feeds.
“The daily reconciliation approach means that accountants and advisers are immediately alerted if a bank statement is out of balance rather than having to wait until the end of the month" - Kurt Groeneveld
Kurt Groeneveld, Chief Technology Officer, SuperConcepts said the Transaction Centre would be welcome news for SMSF practitioners as it would help to free up valuable time.
Mr Groeneveld said, “The Transaction Centre, which is based on extensive testing by accountants, automates what was once a time consuming manual process. SuperMate users now receive daily data feeds direct from institutions with all purchases and sales matched to the cash transaction, and automatically processed.
“The daily reconciliation approach means that accountants and advisers are immediately alerted if a bank statement is out of balance rather than having to wait until the end of the month.
“And because the feeds come directly from the source, users can rest assured that the data they receive is accurate.”
The launch of the Transaction Centre is part of SuperConcepts’ ongoing commitment to provide a leading SMSF technology solution and high-quality service to accountants and advisers, helping to improve their business.
SuperMate is a cloud-based, double entry system which provides access to more than 222 data feeds. The platform continues to be one of the market-leading solutions with access available from $5 per fund per month.