Introduction
Your applied knowledge of the Simple Fund 360 Chart of Accounts can be used to learn Simple Invest 360. This article aims to highlight some of the key differences and new accounts available in Simple Invest 360.
Account Codes specific to Trusts
| Account | Account Name | Account Type | Account Class | System - More Details Label | Tax Label | Subject to CGT |
| 49450 | Distributions Paid | Allocation - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58100 | Settled Sum | Equity - Trust | Normal | System - Other | Not applicable | Not applicable |
| 58200 | Gift | Equity - Trust | Normal | System - Other | Not applicable | Not applicable |
| 58300 | Subscribed Units | Equity - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58400 | Reserve | Equity - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58500 | Trust Retained Earnings | Equity - Trust | Normal | System - Other | Not applicable | Not applicable |
| 58700 | Opening Balance - Beneficiary | Beneficiary - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58710 | Capital Contributed | Beneficiary - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58720 | Gift | Beneficiary - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58800 | Unpaid Trust Distributions | Beneficiary - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58900 | Funds loaned to Trust | Beneficiary - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 58950 | Drawings | Beneficiary - Trust | Control Account | System - Other | Not applicable | Not applicable |
| 85660 |
Investment Loan | Liability - Loan | Control Account |
Simple Invest 360 users have the ability to apply and change Tax Labels for specific Account Types for Trusts. For more information, click here.
Account Codes specific to Companies
| Account | Account Name | Account Type | Account Class |
| 49550 | Dividends Paid | Allocation - Company | Control Account |
| 58540 | Company Retained Earnings | Equity - Company | Normal |
| 58600 | Capital | Equity - Company | Control Account |
| 58665 | Investment Revaluation Reserve | Equity - Company | Normal |
| 58690 | Capital Loss Reserve | Equity - Company | Control Account |
| 85660 |
Investment Loan | Liability - Loan | Control Account |
Simple Invest 360 users have the ability to apply and change Tax Labels for specific Account Types for Companies. For more information, click here.
Account Codes specific to Individuals
| Account | Account Name | Account Type | Account Class |
| 58070 | Opening Balance | Equity - Individual | Control Account |
| 58080 | Drawings | Equity - Individual | Control Account |
| 58090 | Retained Earnings | Equity - Individual | Normal |
| 58065 |
Investment Revaluation Reserve
|
Equity - Individual | Normal |
| 85660 |
Investment Loan | Liability - Loan | Control Account |
.