Are you on the monthly bill cycle for Superfund Partners? If that is the case, you are part of the monthly processing system. As the name suggests, this means that each month your superfund is reconciled up to the end of the previous month. This is made possible by our ability to utilise data feeds that port transactional data into our software Class Super (For more details see Chloe Ward’s blog on Data Feeds).
There are many advantages to this system as it allows us to reduce the amount of queries at year end and to capture any potential compliance issues that may arise (For example Contribution Caps). This also allows you to make informed decisions on the direction you would like to take your fund as you are working with real time data instead of the last financial year’s history. Class actually allows a login to the software system for trustees called Fundweb. Once you have been sent an invitation you will be able to see a consolidated view of your fund that details Bank Accounts (statements and unmatched Cash),