SMSF administration software provider Class has launched a new integration with Macquarie Wrap that delivers an automated solution for managed accounts data.
The integration means managed account data for Macquarie Wrap can now be entered directly into Class.
Once a parent account has been set up in Class, all the managed accounts and underlying holding accounts will be automatically created when the Macquarie data feed runs.
The firm told the SMSF Association National Conference 2019 in Melbourne today that it aims to resolve a previous complexity involved with managed account structures that made it difficult to represent managed accounts data in a meaningful way.
Class chief financial officer and chief executive Glenn Day said: “This new solution delivers full data visibility across all managed accounts, removing the need to manually enter data to represent the valuation of the managed account
“It will deliver significant time savings to accountants and administrators who have previously had to process the data manually.”
Class is also showcasing other new features at the conference, including its new tax statement automation solution and fully automated support for dividend reinvestment plans.