Note: The below instructions relate to viewing and editing the company's details. Trusts and Individual entities can be accessed using a similar process.
Company Details in Simple Invest 360
The Company Details screen allows you to identify and manage all general details that are related to a company. From the company details screen, users are able to:
- Edit Comany names and codes
- Edit and add significant entity dates
- Add Identification numbers
- Enter Address details
Navigation to the Company Details
The Company Details screen can be accessed by hovering your cursor over Comapny from the Main Toolbar and selecting Company Details from the side menu.
| From the Main Toolbar navigate to the Comapny menu. | |
| Select Company Details. |
Details
The Details screen allows you to input and review the following information:
Explanation |
|
|---|---|
| Company Name | Input the name of the Entity. |
| Entity Code | Input the Entity code. |
| Financial Year | This field will set the reporting period for the company. The reporting period can be set either yearly or quarterly. |
| Company Type | Select the type of company. |
Identification
Screen Options |
Explanation |
|---|---|
| ABN | Input the Company's ABN if applicable. |
| TFN | Input the Company's TFN if applicable |
| ACN | Input the Company's ACN if applicable. |
Dates
Screen Options |
Explanation |
|---|---|
| Incorporation Date | Input the entity start date. |
| Wind Up Date | Input the date the which the shareholders become entitled to the company's assets. |
| System Start Date | The System Start Date is the start of the first active financial year the company will be processed in Simple Invest 360. The System Start Date will automatically trigger daily Investment Revaluation and Shareholder Allocation Journals from this date going forward. |
Company Address
Screen Options |
Explanation |
|---|---|
| Postal Address | Input the postal address of the Company. |
| Physical Address | Input the physical address of the Company if different to the Postal Address. |
| Physical address the same? | Toggle yes if the Company's Postal Address is the same as the Physical Address. |
Reporting
Screen Options |
Explanation |
|---|---|
| GST Registered | Select this checkbox if this entity is GST registered. Simple Fund 360 will deduct GST amounts from assets, income and expenses in reports. |
| Resident Company | Select this checkbox if the entity is an Australian resident entity for income tax purposes. |
| Automatic Revalutions | Enable Automatic daily security revaluations. See Automatic Revaluation of Securities for more information. |
Annual Return
| Screen Option | Explanation |
|---|---|
| Use tax agent postal address in tax returns? | Select this checkbox to use Tax Agent's address in the Comapny Annual Return |
CGT Treatment
Screen Options |
Explanation |
|---|---|
| Share Trading Entity |
By toggling on the relevant option, CGT related to specific investments will not be calculated when processing disposals. For more info see our help article. |
Select a default disposal method (CGT Treatment) in Entity Details for all disposal transactions to call upon. The initial default is "Most Tax Effective", with three other options to select: Least Tax Effective, First In First Out or Last In First Out.
| Disposal methods available | Explanation |
|---|---|
| Most Tax Effective | System will apply the most tax-effective method in matching the cost base for the disposal of an asset |
| Least Tax Effective | System will apply the least tax-effective method in matching the cost base for the disposal (e.g. in order to utilise the capital loss carried forward) |
| First In First Out | System will match the cost base of an asset based on the date of purchase, with the parcel acquired first to be matched first for the disposal |
| Last In First Out | System will match the cost base of an asset based on the date of purchase, with the parcel acquired last to be matched first for the disposal |