BGL Integrates with AMM Term Deposits Platform

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Nodrog, 11th Apr, 2019.

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  1. Nodrog

    Nodrog Well-Known Member

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    Likely more interest to advisors / SMSF administrators. Our SMSF uses the AMM platform which has been brilliant for Term Deposit offerings and minimising paperwork. Our SMSF advisor uses BGL for SMSF processing so EOFY reporting will be less work. I’ll be checking the invoice:):

    BGL locks in new integration with cash investment platform

    For those interested in using AMM for term deposits be it in personal names, Trusts or SMSFs you can check them out here:

    Australian Money Market | Online term deposit platform
     
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    There are practical limits to the new BGL datafeed. TDs in a SMSF typically involve negligible effort as they pay interest mostly on maturity and it often reflects as a simple 1 entry matter. I dont see it having any impact on cost even for a fund with ten TDs (which would be rare).

    One hidden benefit is the auditor tools embedded in the back end which allow the auditor to validate a deposit.
     
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