MySF Forums / MySF - The Application / MySF - Tips on Using MySF

Computer change

chaudhri — Fri, 23 Apr 2010 22:04:06 GMT

I want to start using my MySF from another home computer. How do I transfer the program and data etc from this computer (Windows XP) to the newer computer (Windows Vista). The original software CD I have is very old - Version 1.4.6.1.

Thanks

Vik

Term Deposits - How To

MySF — Tue, 09 Mar 2010 18:01:28 GMT

This is a very common question among users of MySF Manager.

Initial Setup (if you have not already added these)

1. Go to Configuration > Asset Classes and add a new financial class called 'Term Deposits'.

2. Create a clearing bank account through Cash and Bank Accounts > Manage Bank Accounts. This account will just be used to pass funds through so particular transactions do not show up on your main bank account.

Recording the purchase of a Term Deposit

1. Go to Assets > Buy and Manage section > Term Deposits and add a new term deposit by clicking the 'Add New' button.

2. This is very important Enter all the details for the term deposit. The price per unit should be entered as "$1" and number of units as the total amount of the term deposit. For example, if I opened a term deposit with $10,000 I would enter "$1" as the price per unit and "10,000" as the number of units. You will see the capitalised cost field at the bottom of the screen shows the exact amount of the term deposit.

3. Click the 'Add' button when all the information has been added.

Adding interest received to your bank account.

1. Add a cash receipt through Cash and Bank Accounts > Receive Cash section > Interest. The values of the fields for the receipt will be as follows:

Deposit to Account: The bank account you received the interest in
Payor: Term deposit asset
Receipt Type: Interest

In the lines where there are two drop down boxes and an amount entered under 'Amount', select the term deposit from the Asset drop down box and the account to select should be '4130 Interest Received'.

2. Click 'Save' to process the cash receipt and increase the bank account selected by the amount of interest received.

Adding interest reinvested back into a term deposit.

1. Add a cash receipt through Cash and Bank Accounts > Receive Cash section > Interest. The values of the fields for the receipt will be as follows:

Deposit to Account: The clearing account set up in the initial setup above
Payor: Term deposit asset
Receipt Type: Interest

In the lines where there are two drop down boxes and an amount entered under 'Amount', select the term deposit from the Asset drop down box and the account should be '4130 Interest Received'.

Click 'Save' to process the cash receipt which will now increase the clearing account by the amount of the receipt. Now you will use this amount to purchase a new lot of parcels for your current term deposit.

2. Add a new purchase of your term deposit parcels through Assets > Buy and Manage section > Term Deposits. Click 'Add New' at the bottom right and enter the same information as the term deposit you received interest for. The only difference should be that the number of units will be the total amount of interest received in step 1 above and the cost per unit will be $1. Important Ensure that the bank account that this purchase comes from will be your clearing account that was increased by the cash receipt in step 1 above. Remember that the 'Code', 'Name' and 'Shortname' should be the same as the original term deposit you received interest for.

That's it. You should repeat these steps every time you reinvest interest received into any term deposit.

Closing or withdrawing parts of your term deposit.

1. Go to Assets > Sell section > Term Deposits.

2. Select the term deposit you are selling all or some of in the first drop down box. Each parcel of interest you reinvested back into the term deposit will be displayed as a separate line in the bottom area of the screen.

3. Enter the number of units you're selling and make sure the sale price is entered as $1 per unit. You also need to tell the software for each line in the bottom area, how many of the units in each parcel you are selling.

4. Enter information in the rest of the fields so that it matches the sale of your term deposit.

5. Click 'Process' and you're done.

If you require assistance with any of the above, please do not hesitate to contact us at info@mysf.com.au

Best Regards,

MySF

Income taxable in one year, but cash received in the following year

MySF2 — Sun, 06 Dec 2009 20:07:28 GMT

Hi,

This message was written and posted to assist MySF Manager users in recording income (typically dividends or distributions) or expenses where the amount is taxable in one financial year, but the cash is not actually received until the following financial year.

The usual way to account for items (income or expenses) that affect one financial year but where the cashflow occurs in another financial year is through what is called accrual accounting. The name basically refers to the fact that income (or expenses) are recorded as accrued over a certain period and we record this.

Probably the simplest example is the receipt of rent from a tenant in a property that is due on Jun 29th but is paid by the tenant on July 5th. This would be recorded as follows:

On June 29th FY1:
DR Accounts receivable $x (under assets)
CR Rent received $x (under income)
This records that there is income that you reasonably expect to receive but no cash has actually been received. The income will be included in the profit and loss and the accounts receivable amount is shown on the balance sheet.

On July 5th FY2
DR Bank $x
CR Accounts receivable $x
This record the cash flow in for the amount that was owed. The accounts receivable account will now have a balance of $0 and your bank account will increase by $x. The profit and loss (and therefore tax) is not affected because no income or expense accounts are involved in the transaction.

If there is an expense that is incurred in one year but paid in the next year then this would be recorded as follows:
In FY1:
CR Accounts payable $x (under liability)
DR applicable expense account $x (under expense)

In FY2:
CR Bank $x
DR Accounts payable $x

Things get a little more complicated with dividends or distributions because there are lots of different components (foreign income, unfranked income, capital gains, tax deferred income, imputation credits). The steps for processing a distribution which is taxable for FY1 but the cash is received in FY2 is as follows:
In FY1:
1) Record the dividend or distribution as normal, and designate a Clearing Bank account as the bank account.
2) Process a manual journal for the same date which will be
DR dividends receivable $x
CR Clearing Bank $x
where $x is the total amount received into Clearing Bank. This should
leave Clearing Bank with a $0 balance.

At this point all of the components of the dividend / distribution will have been recorded and will be reflected in all of the accounts as well as all of the financial reports and all tax calculations as appropriate.

In FY2:
1) For the date that the cash is received record a manual journal which will
be:
DR Bank used to receive cash $x
CR dividends receivable $x
This will clear the $x from dividends receivable and will reflect the fact that the cash has been received.

Feedback and comments are welcome.

Regards,

MySF

Dividend reinvestment amounts under / over

MySF2 — Thu, 23 Apr 2009 21:45:21 GMT

Sometimes when a dividend reinvestment is selected the amount issued as a dividend is not the same as the amount that is reinvested.

[b]The initial dividend reinvestment[/b]
Lets assume that a company issues an investor $353 of dividend, to be reinvested at $50 per unit. This would leave $3 owing to the investor. In MySF Manager you should record this through the Cash and Journal Processing > Quick Add Dividend > Dividend Reinvestment screen. As you fill in the amounts you should find that $3 is displayed in the bottom right hand corner of the screen as a left over amount. When you post this transaction the $3 is recorded as part of the dividend (so it will be counted as taxable income in this year) but the $3 will go to 1125 Dividends receivable, to show that it is still owed to you and has not actually been received yet.

Note that it is very important to consitently use the same account to record these outstanding amounts. If you have used a few different accounts then you should transfer those amounts accross to 1125 using general journals.

[b]Rolling forward[/b]
The amount in account 1125 will simply roll forward from one year to the next as you roll the year over using the year end wizard. The amount will be shown in the balance sheet.

[b]A possible follow up reinvestment[/b]
Following from the example above lets assume that the next dividend reinvestment is for $247, reinvested again at $50 per unit, but the investor receives 5 full units because of the $3 owed. In this case record the dividend as $247 reinvested and enter the details of the units received as 5 units at $50. This will cause -$3 to be displayed in the under / over field in the bottom right hand corner. When you process the transaction $3 will be deducted from the amounts owing, so the balance of that account will drop to zero.

[b]Clearing owed amounts[/b]
If you sell the stock, or choose not to participate in further DRPs then you may be paid out the amounts owing to you from previous dividend reinvestments where some amounts were left over. In this case you should record a general journal, which will be
DR bank $x
CR 1125 Dividends receivable $x
where $x is the amount that you received. This will cause an increase in cash and a decrease in amounts owed to you.

Regards,

MySF

Windows 7 & Vista - MySF Manager activation problems

MySF2 — Mon, 13 Apr 2009 17:51:37 GMT

This post is intended to offer advice to users experiencing problems with MySF Manager on Windows 7 and Vista. A common symptom of these problems are messages showing "activation details cannot be verified" or similar after installation, or after an update.

The problem is caused by the fact that Windows 7 and Vista in some cases will not allow MySF Manager to read registry entries made by the software.

There are two possible solutions to this problem

The first is a quick, simple, but temporary solution. Instead of double clicking on the MySF Manager icon to start the software do a right click on the icon and select 'Run as administrator'. This will provide additional privileges and the software should work without problem. However, you would need to do the above 'right click' method each time you run the software.

A better and more permanent solution is to set the software to always run as administrator. Please do this by following these steps:
1. Right-click the MySF Manager icon on your Windows desktop and click 'Properties'.
2. Click the 'Compatibility' tab at the top of the properties window.
3. You should see a tick-box at the bottom of the window with 'Run as an administrator' or something similar. Please place a tick in that box.
4. Click 'Apply' and then 'Ok'.

Regards,

MySF

Bank statement import

MySF2 — Thu, 05 Mar 2009 17:12:54 GMT

Version 7.0.0 of MySF Manager, due for release in the week beginning Monday, 9th of March will contain a new feature for the import of data from bank statements.

[b]General information[/b]

The addition of this feature has been held back, because the lack of information on a typical bank statement does not allow a fully automated import. For example, the bank statement may include the amount of cash that was received from a distribution, but there is no information in it about franking credits, tax deferred income and other important components. Now, we have added an import process that will read the bank statement file and will allow users to jump straight to the relevant screen and enter the additional data.

While the process is not completely automatic it will still speed up entry and will help to ensure that no items are forgotten.

[b]How to import a bank statement[/b]

1) Use your browser (Internet Explorer, Firefox, Safari etc) to log in to your internet banking.
2) Select the relevant account
4) Export your data into QIF format. This format is often referred to as Quicken, or Quicken Interchange Format.
5) Save the file to your computer, preferably not into an MySF directory.
6) Open your fund in MySF Manager and go to Cash and Journal Processing > Bank statement import.
7) Click on the Browse button near the top of the screen, next to the 'Select file for import' field.
8) Select the file you saved in step 5 above and click OK.
9) Select the bank account of your fund to which these transactions relate from the 'Select bank account' selection box.
10) Click on the 'Open selected file button'

You should find that all transactions within the file which fall between the start and end dates of the current year appear in the area near the middle of the screen.

Each transaction will be shown as one line. The line will include details about the transaction including date, cash movement amount and description. MySF Manager will also check your existing transactions. It will then alert you if the transaction shown on a particular line appears to be a duplicate of a transaction that has been processed already (same date, same amount, same account).

On each transaction line you will be able to click on a link to jump to a specific screen to process the details of the transaction. For example, a transaction where cash has increased will be displayed with links that allow you to jump to Cash receipt, Dividend, Distribution and other screens.

A 'Skip this transaction' button is also displayed for each line so that any transactions can be deleted from the import list.

You can close the screen at any time. Any remaining transaction lines simply disappear and no action will be taken.

[b]Other information[/b]

This is the first time that we are adding a bank statement import feature to MySF Manager. We look forward to receiving your feedback to that this feature can be improved in future versions to better serve the needs of the users of MySF Manager.

Please either respond to this post with your feedback or send feedback to info@mysf.com.au.

Regards,

MySF

Off market transfers - shares

Debra_Forbes — Tue, 10 Apr 2007 00:02:26 GMT

How do I enter shares transferred to the fund that have no cash consequence? That is, transferred via an Off Market Transfer.

Year end reports

MySF2 — Thu, 08 Jan 2009 16:45:44 GMT

We have had several enquiries asking how one would go about printing reports that show the fund as at the end of the year. In most cases these reports were to be sent off to an accountant or auditor who may then request changes.

The creation of these reports has always required that users run a year end process which books unrealised gains and losses, adjusts capital gains, distributes profits to members and performs other tasks.

Prior to version 6.0.0 users needed to run a complete year end process and then print the reports from the Report Tool. Any changes meant that users needed to reload a backup and then repeat the process again.

With MySF Manager 6.0.0 and above there is an easier way. Users can now run the year end through to the last step (Reports), which will display a list of reports that can be viewed, printed or saved as PDF (and other formats). Once these report have been printed or saved the year end can be cancelled. This ensures that no modifications are saved.

If an accountant or auditor requests modifications then these can be made before users re-run the year end process.

Another addition is the ability to reverse a year end process.

We hope that MySF Manager users will find these functions make the management of their superannuation funds easier.

If you have any questions or concerns please post them in the forum or email us at info@mysf.com.au

Regards,

MySF

Editing revaluation date displayed in 'Notes to Accounts'

MySF2 — Wed, 10 Dec 2008 20:04:34 GMT

There have been a few enquiries with questions about how to change the text and dates displayed in notes to accounts. Specifically, users have reported that the notes to accounts displays a revaluation date of 30th of June 2003, even though the true date is 30th of June 2007.

We had previously responded to these queries by stating that we will fix this issue as part of an upcoming update.

It now appears that it is possible to change any and all parts of the notes to accounts, though the method is not obvious.

Example.
Please follow these steps to change the date displayed in note "N03 Asset Valuations":
1. - Go to System Setup > Notes to Accounts
2. - Select the 'Versions' tab
3. - Select Version 1 (or the version that is currently set for use)
4. - Make sure that the 'Use this version as the fund's account notes' box is ticked
5. - Select '3 Asset Valuations' from the list of notes in the lower left hand area.
6. - Click on the blue 'Define text' link. You should see a small window pop up.
7. - Change the text, including the dates, and click on Save in the bottom left hand corner. This will also close the screen.
8. - Click on Save under the 'Add New Version' button, then click 'Exit' to leave this screen.
9. - Go to Reporting > Report Tool and run a financial report that includes the notes to accounts. You should find that the notes to accounts includes any changes you have made.

Regards,

MySF

Dividends - non-participating shares

blue-sky — Wed, 24 Sep 2008 22:32:45 GMT

How do we record the dividends where there are new shares purchased between the record date and payment of the dividend.

The specific case is where BKN shares were purchased under an rights issue, but they do not participate in the dividend. The purchase date (4 Sept) is the same as the dividend payment date, and the system wants to create entries against both classes of shares.

TOL distribution of VBA shares

blue-sky — Mon, 08 Sep 2008 14:23:49 GMT

Can you advise the best way to record the receipt of VBA shares received as a result of the demerger?

PBL to CWN rollover and capital return

MySF2 — Thu, 17 Jan 2008 17:41:49 GMT

This is a post to advise users on how to process the PBL capital return and subsequent rollover to CWN shares at a ratio of 1:1.

This message is based upon the assumption that there was only a $3 tax deferred cash component, classifiable as a capital return and 1 CWN shares received for each 1 PBL share owned.

To process this event please follow these steps:

[b]Step 1- Record cash return[/b]
Please go to the Housekeeping > Utilities > Capital Repayment screen and process a $3 per unit capital return for PBL for the date of the event

[b]Step 2- Scrip for scrip rollover[/b]
Please go to the Housekeeping > Utilities > Scrip for scrip rollover screen and process a 1:1 rollover from PBL to CWN. This will create a new asset and dispose of the old one and the investment is rolled from one to the other.

Regards,

MySF

Alinta - cash out option

MySF2 — Tue, 26 Aug 2008 20:41:36 GMT

The steps below outline the methods for processing the Alinta events that affected several MySF Manager users. These steps were prepared based on the [url=http://www.babcockbrown.com.au/media/364965/statement%20example%20-%20default.pdf]statement example document[/url] provided by Alinta as well as the relevant ATO documents and documents sent to us by MySF Manager users. Thank you to those who have assisted us by sending in helpful information.

These steps outline the [u]cash out option only[/u]. The default consideration is described in a separate posting.

Please ensure that you read all relevant documents, many of which are available from [url=http://www.babcockbrown.com.au/bnb-investor-information/alinta-tax-statement-update.aspx]here[/url]. Please also check all information with your accountant, financial advisor and/or ATO.

Before starting please make sure that you have a clearing bank account in your system already and process these entries using that clearing account. This ensures that there is no interference with any of the fund’s real bank accounts.

While processing acquisitions in steps 4 – 8 please ignore prompts to process opening balances. This will be done once, in step 10.

[b]1. [/b]
Record fully franked dividend for Alinta (section I.i) to a clearing account. This takes care of the details under “APA Distribution – Fully Franked Dividend”, shown on page 3, step 3 to 6.

[b]2.[/b]
Record return of capital (section I.ii) to a clearing account. Note that this includes the residual income that was paid in cash. This takes care of the details under “APA Distribution – Fully Franked Dividend”, shown on page 3, step 3 to 6.

[b]3.[/b]
Record one or more sales of existing Alina units at their cost base using the clearing account. You may wish to process one sale for each holding to ensure that the transactions do not produce a capital gain or loss at this point.

[b][u]Details for some of the points below can be found on page 6 of the guide. Please change the number of units shown in accordance with the information you received in your statement.[/b][/u]

The steps below differ from those posted for the default consideration because there is no need to split the stapled securities to their components as hey are sold in steps 11 - 15.

[b]4.[/b]
Record the acquisition of
108 APA Stapled securities at 3.765 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

[b]5.[/b]
Record the acquisition of
271 BBI stapled securities at 1.710 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

[b]6.[/b]
Record the acquisition of
241 BBP stapled securities at 2.882 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

[b]7.[/b]
Record the acquisition of
94 BBW stapled securities at 1.669 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

Note that the total of steps 4 to 7 are the same as the totals of B – E on page 2 of the document linked above, though there may be a small difference due to roundings in the document. (There is a $1 in the sample document provided online.)

[b]8.[/b]
Record the acquisition of
576 units of BBI exchangeable preference shares (EPS) at a “reasonable cost base”
Please refer to the Tax Guide and Alinta Share Scheme Participant Tax Statement for what is considered reasonable.

[b]9.[/b]
Record the cash component of the base offer as a separate income item.

[b]10.[/b] If the date you used in steps 4 – 8 falls within the current financial year of your fund then you would have seen various transactions generated in steps 4 – 8 and you can skip to step 11.

If you saw prompts to create opening balances and clicked ‘No’ in accordance with the directions at the top of this document then please follow the directions below to create opening balances now.

Go to System Setup > Load Opening Balances. Scroll down through the asset list and find the accounts representing the assets added in steps 4 – 8. Tick the boxes next to the accounts and you should find that a value appears automatically in the DR column.

After you have ticked the lines for all accounts representing the assets added in steps 4 – 8 please go to the top of the asset accounts and type the value that appears in the DR total into the CR line for the clearing account.

You should find that the debit and credit totals equal. Click Process to post the transaction.

[b]** The date of the acquisition of the original units should be retained for ‘rollover relief’, so the full answer here would be to split the units according to the purchases of Alinta and have several different parcels. However, given the complexity of the event this may not be practical and you may choose to ignore the various parcels and choose just one purchase date. [u]Please ensure that you check all this information in this post with the ATO and your financial advisor or accountant before making a decision regarding this matter.[/u]
[/b]

[b]11.[/b]
You now have all of the new assets in the fund and have no more Alinta units. It is time to process the sales and realise gains and losses.

[b]12.[/b]
Sell all of the BBI EPS holding at 0.904 each
Sell all of the BBI stapled securities at 1.650 each
Sell all of the BBP stapled securities at 2.92 each
Sell all of the BBW stapled securities at 1.65 each
Sell all of the APA stapled securities at 3.75 each

(the information for step 12 is shown on page 2 of the sample document linked from the top of this post)
See page 4 of Alinta Share Scheme Participant Tax Statement for more information

Regards,

MySF

Alinta - default consideration

MySF2 — Mon, 25 Aug 2008 22:35:14 GMT

The steps below outline the methods for processing the Alinta events that affected several MySF Manager users. These steps were prepared based on the [url=http://www.babcockbrown.com.au/media/364965/statement%20example%20-%20default.pdf]statement example document[/url] provided by Alinta as well as the relevant ATO documents and documents sent to us by MySF Manager users. Thank you to those who have assisted us by sending in helpful information.

These steps outline the [u]default consideration only[/u]. The cash out option is described in a separate posting.

Please ensure that you read all relevant documents, many of which are available from [url=http://www.babcockbrown.com.au/bnb-investor-information/alinta-tax-statement-update.aspx]here[/url]. Please also check all information with your accountant, financial advisor and/or ATO.

Before starting please make sure that you have a clearing bank account in your system already and process these entries using that clearing account. This ensures that there is no interference with any of the fund’s real bank accounts.

While processing acquisitions in steps 4 – 8 please ignore prompts to process opening balances. This will be done once, in step 10.

[b]1. [/b]
Record fully franked dividend for Alinta (section I.i) to a clearing account. This takes care of the details under “APA Distribution – Fully Franked Dividend”, shown on page 3, step 3 to 6.

[b]2.[/b]
Record return of capital (section I.ii) to a clearing account. Note that this includes the residual income that was paid in cash. This takes care of the details under “APA Distribution – Fully Franked Dividend”, shown on page 3, step 3 to 6.

[b]3.[/b]
Record one or more sales of existing Alina units at their cost base using the clearing account. You may wish to process one sale for each holding to ensure that the transactions do not produce a capital gain or loss at this point.

[b][u]Details for some of the points below can be found on page 6 of the guide. Please change the number of units shown in accordance with the information you received in your statement.[/b][/u]

[b]4.[/b]
Record the acquisition of
108 units of Australian Pipleine Trust at 2.797 each
108 units of APT Investment Trust at 0.968 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

[b]5.[/b]
Record the acquisition of
271 Babcock & Brown Infrastructure Limited at 0.079 each
271 Babcock & Brown Infrastructure Trust at 1.631 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

[b]6.[/b]
Record the acquisition of
241 Babcock & Brown Power Limited at 0.929 each
241 Babcock & Brown Power Trust at 1.935 each
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.

[b]7.[/b]
Record the acquisition of
94 Babcock & Brown Wind Partners Limited at 0.000 each
94 Babcock & Brown Wind Partners (Bermuda) Limited at 0.004 each
94 Babcock & Brown Wind Partners Trust at 1.665
For the same date as the original Alinta acquisition. Choose your date if you had several purchase dates for Alinta**.
Note that the total of steps 4 to 7 are the same as the totals of B – E on page 2 of the document linked above, though there may be a small difference due to roundings in the document. (There is a $1 in the sample document provided online.)

[b]8.[/b]
Record the acquisition of
576 units of BBI exchangeable preference shares (EPS) at a “reasonable cost base”
Please refer to the Tax Guide and Alinta Share Scheme Participant Tax Statement for what is considered reasonable.

[b]9.[/b]
Record the cash component of the base offer as a separate income item.

[b]10.[/b] If the date you used in steps 4 – 8 falls within the current financial year of your fund then you would have seen various transactions generated in steps 4 – 8 and you can skip to step 11.

If you saw prompts to create opening balances and clicked ‘No’ in accordance with the directions at the top of this document then please follow the directions below to create opening balances now.

Go to System Setup > Load Opening Balances. Scroll down through the asset list and find the accounts representing the assets added in steps 4 – 8. Tick the boxes next to the accounts and you should find that a value appears automatically in the DR column.

After you have ticked the lines for all accounts representing the assets added in steps 4 – 8 please go to the top of the asset accounts and type the value that appears in the DR total into the CR line for the clearing account.

You should find that the debit and credit totals equal. Click Process to post the transaction.

[b]11.[/b]
You now have all of the new assets in the fund and have no more Alinta units. This is the end of the instructions for default consideration.

[b]** The date of the acquisition of the original units should be retained for ‘rollover relief’, so the full answer here would be to split the units according to the purchases of Alinta and have several different parcels. However, given the complexity of the event this may not be practical and you may choose to ignore the various parcels and choose just one purchase date. [u]Please ensure that you check all this information in this post with the ATO and your financial advisor or accountant before making a decision regarding this matter.[/u]
[/b]

Regards,

MySF

How do I get a fresh install of MySF on my new computer and transfer data

scott — Mon, 04 Aug 2008 06:24:03 GMT

Hi I've purchased a new computer and would like to know how I can get a fresh install of the MySF program on it. The program is on my old computer and has been upgraded on line many times. When I have done that how do I shift the data to populate the program from the old computer? Can I just back it up onto a memory stick and then restore it on the new computer or is the file going to be too big? Do previous years transfer across or are they stuck on the old computer. Should I continue to use the old computer until I have done my end of year role or does it not matter when I do it?

A step by step guide would help me a great deal.

Thanks

Recording Fixed Interest Interest

blue-sky — Sat, 28 Jun 2008 17:59:55 GMT

How do I record term deposits as a Fixed Interest asset?

If I use a Bank Account, it defaults to cash

Contribution accounts

jimc — Mon, 23 Jun 2008 21:23:07 GMT

I am new to MySF and need to record after tax contributions for a member. Can you please clarify whether I should use 4640 Member Contributions - Undeducted or 4648 Member Contributions - Non Concessional and what are the differences between these.

Revaluing international assets

MySF2 — Sun, 01 Jun 2008 22:05:46 GMT

Version 5.0.0 of MySF Manager introduced support for international investments. The software now reads data from 50 major exchanges worldwide (including ASX) and foreign exchange rates for most major currencies are loaded automatically. Up to 6 months of historical data is available for foreign currencies.

The foreign currency converter can be accessed in three ways.

First, when you revalue an asset (Housekeeping > Asset Revaluation Table) the software will load exchange rates as appropriate. If the asset being revalued is listed on the ASX, then no exchange rates are loaded and the asset is simply revalued to the closing price for that date. However, if the asset being revalued is listed on an international exchange then the software will load the closing price of the asset as well as the exchange rate for that date. MySF Manager will then revalue the asset in AUD by multiplying the closing price by the exchange rate on that date.

Second, the currency converter can be accessed by pressing Ctrl + F on your keyboard any time that a currency field is selected on the screen. You can then enter the amount to convert and select the currency you are converting from. You can also select which currency you wish to convert to, but this field is preselected as AUD, since SMSFs are denominated in Australian Dollars.

Third, you can access the currency converter by clicking on the 'Foreign Exchange Calculator' link which is present in the bottom left hand corner of several screens throughout the software.

Note that the foreign exchange calculator allows you to override the exchange rate if needed.

Regards,

MySF

Benchmark codes

wanzhu — Tue, 01 Apr 2008 23:07:35 GMT

I am curious to know what codes are available to use when benchmarking the asset market valuation graph. You say that "^AORD" represents the ASX200 index, but no other code seems to be offered. Also, "AORD" would suggest the All Ordinaries index rather than the ASX200, but maybe I am wrong.

Just wondering!

Bank Account Transfers Create Wrong Entries

guymc — Sun, 07 Oct 2007 02:24:05 GMT

When entering a transfer using Cash & Journal Transfer > Bank transfer, the dialog prompts for "Transfer From" (which I interpret as reducing an account balance) and "Transfer To" (which I interpret as increasing an account balance.

However the transactions generated are:

A Debit for the "Transfer From" entry; and
A Credit for the "Transfer To" entry

This does not seem to be correct and there appears to be no help topics on this "feature" to clarify what the product should be doing.

I'm using MySF Ver 3.1.3.

Any suggestions?

Guy

Guy Mc

Data Entry

belp — Sun, 11 Nov 2007 04:31:19 GMT

Hello,

My data file is currently in the financial year ended 30 June 2007. I am currently finishing off entries to finalise the year.

My question is, can I continue to do data entry for the period 1st July 2007 to current, while I haven't finalised the year end rollover? Or do you need to finalise the current financial year and rollover before you are able to do entries in the next period?

Thanks.

Year End Rollover Guide

leonie — Tue, 23 Oct 2007 17:18:36 GMT

There is reference to a guide of this nature in a much earlier post however the link leads to vacant cyberspace. Can you point me in the right direction please.

'Not all tax rates have been defined' message.

MySF — Tue, 21 Aug 2007 18:16:08 GMT

Hello everyone,

A lot of people have been emailing us with the error that occurs during the start of the Year End Rollover. The error says, "Not all tax rates have been defined".

In order to correct this issue, please follow these steps:

Go to 'File > Settings' and click the 'Financial' tab. You will see a drop down box with the different tax rates associated with your fund. What you need to do is the following for [b][u]every tax rate[/u][/b] in the drop down box:

1. Select a tax rate from the drop down list.

[center][img]http://www.mysf.com.au/pics/ForumPosts/TaxRates1.jpg[/img][/center]

2. You will notice that the tax rates shown in the white box below the drop down list only go up to 30/06/2006. You need to click [color="#4800DE"][u]Add Entry[/u][/color] underneath the white box to include a new tax rate entry.

3. The next screen will ask you to enter the tax rate and effective date. Unless the tax laws have changed for Australia with that particular tax rate (please check [url=http://www.ato.gov.au]www.ato.gov.au[/url]), the tax rate field should be the same as the previous ones shown in the white box. The effective date should be the day after the last entry shown in the white box.

[center][img]http://www.mysf.com.au/pics/ForumPosts/TaxRates2.jpg[/img][/center]

4. You need to perform the same steps again for each tax rate shown in the drop down box.

Once you have completed all the tax rates, if you go back to the Year End Wizard, you should be able to proceed past the first screen.

The next update for MySF Manager will contain the latest tax rates. We will also change the aforementioned error message to include the solution to the error.

If you require any assistance with any of this or you have any further queries or questions, please do not hesitate to contact us at [email]info@mysf.com.au[/email]

Regards,

MySF

Starting a Pension Account for Existing Member

markfacer — Mon, 04 Jun 2007 00:38:37 GMT

One of our members is starting a pension in July, however that member still will be, from time to time, contributing to their superannuation account. So, we will have for that member a pension account and a superannuation (accumulation account). What is the best way in MySF to start a second, "pension" account for that member? I assume there is a way to create a second account for the member (not sure how to do this), journal an amount from the accumulation account to the pension account, then pay the pension from the pension account. The superannuation (accumulation) member account would still be there and cash receipts could be allocated to that member account.If you could help with this, that would be much appreciated, thanks.

New Functionality re. distribution entry

bryanlovquist — Wed, 04 Jul 2007 03:41:26 GMT

Hello

Is there any documentation on the new functionality re. entry of distributions?

Thanks

Bryan Lovquist

End of year report

katfish2 — Thu, 22 Feb 2007 04:03:25 GMT

After completing the end of year roll over, I noticed that the franked / unfranked amounts had somehow undone itself and the total was now franked. I used the major edit function (other details) to split the total between franked & unfranked. It accepted this but the Profit & Loss sheet then disappeared!!! Can anyone explain how the franked / unfranked thing happened (I am certain they were entered correctly in the beginning), and how the Profit & Loss sheet disappeared.Kerryanne

handling oversubscriptions

bruceb — Tue, 13 Feb 2007 00:33:03 GMT

HiWhat's the best way of handling oversubscriptionsI applied for 15625 @ 0.32 - cheque for $5,000 was banked. Was then allocated 15,000 and sent a cheque back for $200.How do I enter this in ?ThanksBruce

delete assets

linda2 — Mon, 15 Jan 2007 22:09:03 GMT

hi how do i delete a asset that was saved by mistake?

bank a/c transfers

nejamaka — Sun, 26 Nov 2006 23:41:33 GMT

How do I enter transfers of monies between my high yield super bank a/c and the primary super cheque a/c. The bulk of money is held in the high yielding a/c and money is transferred into the cheque a/c to purchase shares etc.Regards,Nejamaka

End of year Journals

MySF — Sun, 10 Sep 2006 04:16:41 GMT

At the end of each year the rollover function in MySF asks you to revalue your asset as at the 30th of June. This is a requirement of the ATO.MySF will then automatically generate a journal entry which is:DR Increase in the Market Value of Assets (This is an asset account)and CR Income account Increase in the Market value of assets.This may seem strange that you are declaring income that you have not received because you have not yet sold the assets. This Income Account is Non Taxable so it does not increase your Tax Liability.For ATO purposes this is all that is required.One of the problems however is that the Accounting Standards (AAS3) says that where you identify income you need to also make a provision for the Tax that would be payable on that in the future. This would be a liability called Deferred Tax. Your Auditor will probably ask for this journal to be entered.So in the Year end Rollover (Version 1.4.5) you will be prompted with the question: Do you want to generate entries for Deferred Tax ? If you answer yes then an additional journal will be created which isCR Deferred Tax (This is 15% of the Increase in value)DR Members accountsThis entry will be generated on 30 June. You also have the option at the end of the Year End Rollover to Reverse this Journal (recommended). If you tick yes then the reversal will be processed on 1 July. What this does then is to have the journals present for the 30th of June and all the reports for Audit purposes, and then reverts back to normal operation on July 1.RegardsMySF

Entering Fixed Interest Deposits

mark_newton — Tue, 08 Aug 2006 23:41:30 GMT

How do I enter a fixed term/interest deposit with a quarterly auto-reinvestment facility?

Important Dates with the ATO

MySF — Sat, 04 Mar 2006 03:00:40 GMT

July 2005July 1 • Superannuation guarantee quarter 1 commences. • Fund choice begins. Employers must provide eligible employees with a standard choice form by 28 July 2005. • Contribution limits and RBLs for 2005/06 year apply from this date.July 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in June 2005 must be reported to the ATO on or before this date.July 28 • Last day for superannuation guarantee contributions for quarter 4 (1 April – 30 June 2005) to be made to a superannuation provider. • Last day for employer to provide a Standard choice form to eligible employees.August 2005August 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in July 2005 must be reported to the ATO on or before this date. • Due date for lodgement of a superannuation guarantee statement and payment of the superannuation guarantee charge for quarter 4 (1 April – 30 June 2005) if sufficient contributions have not been made on time. The superannuation guarantee charge is not tax deductible.September 2005September 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in August 2005 must be reported to the ATO on or before this date.September 15 • Amended superannuation member contribution statements due for inclusion in November 2005 processing of assessments.October 2005October 1 • Superannuation guarantee quarter 2 commences.October 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in September 2005 must be reported to the ATO on or before this date. October 28 • Last day for superannuation guarantee contributions for quarter 1 (1 July – 30 September 2005) to be made to a superannuation provider.October 31 • Earliest due date for lodgement of 2005 income tax return for super funds • Lodgement date for super funds with 2 or more prior year returns outstanding as at 30 June 2005. • Due date for lodgement of SIS regulatory return for funds regulated by APRA. • Last day for lodgement of member contribution statement (MCS) for all superannuation providers other than for self-assessing superannuation providers (SASPs). SASPs must lodge MCS when lodge tax return.November 2005November 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in October 2005 must be reported to the ATO on or before this date. • Due date for lodgement of a superannuation guarantee statement and payment of the superannuation guarantee charge for quarter 1 (1 July – 30 September 2005) if sufficient contributions have not been made on time. The superannuation guarantee charge is not tax deductible.December 2005December 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in November 2005 must be reported to the ATO on or before this date.January 2006January 1 • Superannuation guarantee quarter 3 commences.January 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in December 2005 must be reported to the ATO on or before this date.January 28 • Last day for superannuation guarantee contributions for quarter 2 (1 October – 31 December 2005) to be made to a superannuation provider.February 2006February 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in January 2006 must be reported to the ATO on or before this date. • Due date for lodgement of a superannuation guarantee statement and payment of the superannuation guarantee charge for quarter 2 (1 October – 31 December 2005) if sufficient contributions have not been made on time. The superannuation guarantee charge is not tax deductible.February 28 • Final date for income tax return lodgement and payment of new registrants superannuation funds.March 2006March 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in February 2005 must be reported to the ATO on or before this date.March 31 • Final date for income tax return lodgement where one year prior return was outstanding as at 30 June 2005.April 2006April 1 • Superannuation guarantee quarter 4 commences.April 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid should be reported to the Tax Office by 14th day of the month following the month in which the benefit was paid.April 28 • Last day for superannuation guarantee contributions for quarter 3 (1 January – 31 March 2006) to be made to a superannuation provider.May 2006May 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid in April 2006 must be reported to ATO.May 14 • Due date for lodgement of income tax returns for all superannuation funds and companies with turnover of less that $2 million. • Due date for lodgement of a superannuation guarantee statement and payment of the superannuation guarantee charge for quarter 3 (1 January – 31 March 2006) if sufficient contributions have not been made on time. The superannuation guarantee charge is not tax deductible.June 2006June 3 • Final date for income tax return lodgement of non-taxable (nil tax) superannuation funds and companies.June 14 • Reasonable benefit limits (RBL) reporting. All RBL reportable benefits paid should be reported to the Tax Office by the 14th day of the month following the month in which the benefit was paid.June 30 • Superannuation guarantee contributions must be paid by this date to qualify for a tax deduction in the current financial year.

AMP and HHG Demerger Example.

MySF2 — Thu, 26 Aug 2004 06:48:41 GMT

This article details the process to follow to enter the demerger between AMP and HHG as occurred on the 23rd of December 2003 into MySF.As the process of the demerger involved a cancellation of a number of AMP Shares, a payment for this cancellation and an allocation of HHG shares, the way to input this information into MySF Manager is through a Sale, Purchase, Split process, which need to be done in that order.You do not use the Demerger function in MySF for this transaction.The example that follows contains information based on a document issued by AMP to Shareholders. Section 1 of the document is titled: “Information to assist you to determine your tax implications as a result of the AMP demerger”There are three steps to follow: recording a Sale of the number of Shares that were cancelled, for the sale per unit price of: $5.9142, recording a Purchase of the appropriate number of HHG Shares, and recording a Split of AMP so that the number of AMP Shares owned at the end of the procedure is the same as it was at the start.It is important that the same bank account be used for both the sale and the purchase transactions described herein.This example assumes the following:The fund holds a single parcel of 1065 AMP Shares, which were purchased on the 3rd of June in 1998 at $18.60 per unit (total capitalized cost of $19,809.00).( Step 1 )Record the sale of AMP shares. This is done to record the Cancellation of a number of AMP shares, subsequent Cancellation Entitlement received, and the Capital Gain / (Loss) associatedGo to the Managing Assets > Sell a Financial Asset > Shares (or the appropriate category for AMP)On the Sales screen, select AMP from the dropdown box near the top left. The number of units that were cancelled is 29.1947766% of the shares that were owned, rounded to one decimal place. In this example, (1065 x 0.291947766)= 310.9 units. Please check your information from AMP to ascertain the exact number in your case, it is shown in section (c) of the document sent by AMP.Enter this number (310.9) into the ‘Number of Units’ field. Into the ‘Sale Price’ field, enter: $5.9142, leave the brokerage fee as $0.00. Date of the Sale should be 23rd of December 2003. For the number of units being designated for sale in each line, enter a total number as shown in (c), in the case of the example, 310.9(Please note: if there is a Capital Loss at this point, you may wish to allocate the number of Units across the lines in such a way, so as to maximise the Capital Loss, therefore being able to offset a larger loss from this process against any Capital Gains there may be from Sales in the same Asset Class during the same Financial Year.)This will now show the amount of Capital Gain or Loss at the bottom of the screen, next to Totals. In the case of this example, there is a Capital Loss of $3,944.02. This should match the amount under section (i) of the document from AMP.Click Process.What this has done:- dropped the number of AMP shares, to show the cancellation- added the ‘Cancellation Entitlement’ – in the example $1,838.72 – to the Bank Account selected- created the entry for Capital Gain / (Loss)( Step 2 )Purchase entry of HHG Shares, using the amount received for ‘Cancellation Entitlement’Go to Manage Assets > Add or Manage Financial Assets > Shares (or the appropriate category for HHG Shares) Click on Add New, select New Purchase.Enter the ‘Code’ as HHG, and enter the ‘Short Name’ and ‘Name’ as appropriate.Select the same bank account to use as in Step 1. (Note: we are placing entries against the Bank Account which cancel each other out. For Audit purposes if you wish you can use the Transaction Reporter to enter a minor Edit of the transaction and put in an explanation into the Memo field of the Journal. This will need to be a separate step once all transactions have been entered)The ‘Cost per Unit’ is shown in section (k) of the document, and can be calculated using the following process:HHG cost per unit = Cancellation Entitlement / Number of HHG Shares received.In this example, the ‘Cost per Unit’ for HHG is ($1,838.72 / 1,065 units) $1.7265.The entry for ‘Number of Units Purchased’ should be the number of HHG Shares received, in this example 1,065. This number is shown in section (k) of the document.Leave the ‘Brokerage Fee’ as $0.00, and for ‘Transaction to Generate’ select ‘General Journal’Click Add.You may see a prompt for automatically adding an HHG business card; you should usually answer yes to this question.What this has done:- HHG asset has now been created- ‘Cancellation Entitlement’ amount has been moved to the account created for HHG, bringing the Bank Account back to what it was before the demerger process.( Step 3 )The final step is to enter a Split for AMP Shares, so that the number of shares owned after the Demerger process is the same as it was before.This can be done through Housekeeping > Utilities > Splits.Select the appropriate category for AMP Shares, and select AMP. Enter the Date as 23rd of December 2003. The ratio of the split should be 1 : 1.4122In the line(s) below, you should see the ‘Number of Units after the Split’ displayed totalling the number of shares originally owned in AMP, in this case 1,065. Once again, there may be a slight discrepancy, due to rounding.Click on Process, and confirm.This concludes the procedure, by returning the total number of shares in AMP to the number before the demerger, in this case 1,065.If you wish to check that all has been processed correctly, do the following:- check the number of HHG shares owned, and the number of AMP shares owned. This can be seen under ‘Ownership Record’ in the ‘Additional Information’ section of the ‘Manage Financial Asset’ screen for the appropriate category. AMP should total to the same number as was held before the demerger (in this example 1,065), HHG should total to the number of shares received in HHG (also 1,065 in this example).Any income from ‘Rights not taken up’ (section (n) in the document) should be recorded as a Cash Receipt for AMP.The numbers used in this example have been checked against the AMP demerger calculator, located on the ATO Website, at: http://www.ato.gov.au/individuals/content.asp?doc=/content/45400.htmThe only difference between the numbers used in this example and the ATO calculator results from roundings performed on the ATO calculator and on MySF Manager.Note: There may be a few cents left over in the bank account used when the process is completed, this is normal, and is once again due to rounding.Regards,MySF

New ATO Document - Its Your Money but not yet

MySF — Thu, 22 Jul 2004 02:05:28 GMT

Members may have seen the recent press about the ATO crackdown on SMSFs. This coincides with the publication of a new document put out by them called Its Your Money... but not yet.I would recommend this as a must read for all members. It is a good document and also has references of related documents towards the end that allows you to dig deeper on a specific issue.If you click on this link it will take you to the document on the ATO website. Once there if you Right Click where it says Portable Document Format version, you can download the PDF Version using Save Target As.[url]http://www.ato.gov.au/super/content.asp?doc=/content/47067.htm&pc=001/007/073/001/002&mnu=2148&mfp=001/007&st=&cy=1[/url]RegardsMySF

Year End Rollover

MySF — Thu, 17 Jun 2004 05:31:06 GMT

We are not there yet, however for those of you that want some relaxed night time reading here is a guide to Year End Rollover.As with the Accounting guide keep away from small children.The key thing is to do some home work before year end. You will be asked to record the value of all assets as at year end as well as things like your Adjusted Taxable Income (ATI) for each member.The most important thing to remember is to Backup before you start. Where possible backup to CD or USB Memory stick. If your Auditor wants you to make a change you will need to load the backup and make the change and then re roll the fund.There is of course no hurry to roll over, you can continue to enter into either financial year without actually rolling over. To do this you go to File>Settings and reset the dates of the Financial Year in which you wish to operate. This can be changed as often as you need. So you can go between the two yearsClick on the following link to download the Rollover Guide. Thanks to Ben for putting the guide together[url]www.mysf.com.au/pdf/yearend.doc[/url]Regards

Accounting Guide

MySF — Sun, 16 May 2004 02:49:22 GMT

We have prepared an accounting guide for those who may want to brush up or understand a little more about Debits and Credits and which account to use in MySF.Warning The guide should not be read to children as they may have nightmares about Debits and Credits, and we know that those nightmares are reserved for adults.Right Click on this link and use 'Save Target As' to download [url]www.mysf.com.au/pdf/accounting.doc[/url]RegardsMySF

Understanding the Chart of Accounts & GL

MySF — Sun, 02 May 2004 09:41:20 GMT

The General Ledger revloves around the Chart of Accounts. The screen used to display the chart can be found under System Setup>General Ledger Accounts.This screen has quite a bit of functionality which may not be immediately visible.Click on this link for a picture of the screen [url]www.mysf.com.au/pdf/gl.jpg[/url]Here are some points to note.1. Summary Accounts are ShadedSummary Accounts are used by the report tool and do not receive postings. No transactions are held against them, but they do display the total of the balance of the detail accounts which report to them.2. Double Click on a detail account to see all transactionsThe individual postings against an account can be accessed by double clicking on any detail account. This can be very useful for helping to reconcile say a Bank account. Once you double click you have the option of printing the ledger detail. Click this link for the GL Detail screen image. [url]www.mysf.com.au/pdf/gldetail.jpg[/url]3. Rollover to accountYear End processing goes through and zeros expense and income accounts and in a Company or business all of the balances in these accounts would be netted off to the Profit and Loss account. In a Super Fund there are some complications in doing this. Items such as Contributions are Income to the Fund, but we also need to keep track of Contributions for a member. So instead of rolling these amounts to the Profit and Loss and then allocating them to Members we roll the amount in the Members income accounts directly into the Members equity accounts. Using this technique we can preserve the Nature of the Receipt (ie Members Contributions) so that we can refer back to this at a later pointThe Rollover To account is how we determine what goes to what at year end.4. Preservation TypeThe Preservation Type only applies to Members Accounts and allow us to report on the the whether the Balance in the account is Preserved, Non-Preserved, Unrestricted Non Preseved, or Restricted Non-Preserved. This information is used in the Members Position Statement through the Report Tool.So there is a lot of detail in this one GL Account screen. We think it can be very useful in helping make balancing a little easier.

Bonus Shares, Scrip for Scrip, Demergers, Splits etc...

MySF — Sun, 02 May 2004 06:26:23 GMT

You may not be aware, but Bonus Share, Scrip for Scrip, Demergers, Splits and Capital Repayments can be handled through the software.The functions can be found under Houskeeping>Utilities from the Windows Menu.We have found that when a Company considers one of these options for their own business they always seem to come up with something different (obviously just to frustrate software developers). So it is best to trial what you want to do in the MySF sample fund. It may be that with a composite transaction you may need to enter a number of separate transactions in MySF.

Cash Receipts and Payments

MySF — Sun, 02 May 2004 06:17:27 GMT

When entering payments and receipts there are a number of important things to remember.1. Use the Memo boxGet into the habit of using the memo box in the top right of the screen to record information about the transaction. eg ANZ Dividend, or Rent from Fred Smith. The Memo appears in the Transaction reporter and if you have entered meaningful text, locating a transaction is made much easier.2. Record transaction against the Asset or MemberWhen recording Line items make sure you use the Member and Asset drop down boxes to record against either a member or an asset. If it is a Dividend for example select the Company share code from the asset list. If it is a contribution or a members expense then select the member. This is in addition to what ever account you choose from the GL. The Asset and the Member fields are what are used to determine the Yield in the Analysis reporting. If you leave these out then the Yield reporting will not include either the receipt or payment amount in the calcultation.Click on this link to see what the screen should look like [url]www.mysf.com.au/pdf/cashrec.jpg[/url]3. Which Account to useRemember that you are recording on behalf of the Fund, and Cash Receipts of items such as Contributions or ETP Roll In are in fact Income to the Fund. So in the GL you should be looking at the Income accounts and selecting the appropriate account. Transactions are very rarely posted directly against Members Equity accounts. The year end processing of MySF will set the Income and Expense accounts to zero and move any items which are related to a member into the Members Equity accounts.

Setting up and Using Asset Categories

MySF — Sun, 21 Mar 2004 10:20:07 GMT

Asset Categories are used to show a different view of the assets owned by the Fund based on the where the funds are invested.For physical assets such as Commercial Property this will a one for one relationship between the Asset Class (the accounting classification) and the Asset Category. However for assets such as Managed Funds, it is likely that the fund is investing in different sectors, possibly on a global scale.Under the menu item System Setup>Asset Allocation Categories users can define the categories that are to be used. If you hold property and say collectables then it would be advisable to have a separate category for each of these. The standard list loaded with MySF allows for Property, Cash, International and Australian Shares and International and Australian fixed deposits. It is important to understand where your money is invested both directly and indirectly in order to show the exposure in a specific market.Whenever you add an asset you are prompted to make an entry in the asset allocation table for that asset. Asset Allocations reporting can be viewed in a number of areas of MySF1. Planned versus ActualThis feature compares the planned investments which are defined in the Investment strategy with the actual 'current value' of your portfolio as it is allocated to each ofthe Asset Categories. This is a very useful report for monitoring whether your fund is in line with your investment strategy.2. Yield AnalysisUsers can report the Yield being delivered in any or all Asset categories. This can be done using the Historical cost of the the asset as a base, or the current value. Yield Graphs can also provide a comparison of Asset Categories in the same manner.