SuperConcepts has today announced an update to its cloud-based SMSF accounting platform, SuperMate, as part of its commitment to helping accountants and advisers improve their business.
The Transaction Centre will provide 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 was a real need for reliable, daily-reconciled data feeds, the company stated.
SuperConcepts chief technology officer Kurt Groeneveld added the transaction centre would be welcome news for SMSF practitioners as it will help to free up valuable time.
“The Transaction Centre, which is based on extensive testing by accountants, automates what was once a time-consuming manual process,” Groeneveld said.
“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 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.”