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MySF Administrator
Group: Administrators
Last Login: Yesterday @ 3:53:01 PM
Posts: 292,
Visits: 389
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The latest update to MySF Manager, update 5.0.2, is now available.
Additional Functionality
We are excited to present an important new feature which that helps MySF Manager users get the best possible results from asset sales.
Sales processing in MySF Manager has always included specific-lot accounting, allowing users to allocate units within a sale that results in higher or lower amounts of taxable capital gains than would result from an 'average cost' approach. This has meant that users were able to take a more active role in determining paper gain / loss amounts for a given level of income and thereby improve performance.
This feature has now been automated with the following options (shown as links on the right hand side of the sale screen):
- Average Cost
Click on this link to show an allocation that would result in the same capital gain calculation as what you would get when using an 'average cost' system.
- FIFO
Click on this link to show an allocation that disposes of units on a first-in-first-out (FIFO) basis.
- LIFO
Click on this link to show an allocation that disposes of units on a last-in-first-out (LIFO) basis.
- Highest Taxable
Click on this link to show an allocation of units within the sale that aims to maximize the taxable gain within the sale. This may be helpful if you have losses that you can use to offset against this sale.
- Lowest Taxable
Click on this link to show an allocation of units within the sale that aims to minimize the taxable gain within the sale. Conversely, this also means that the system will attempt to maximize the loss if it can. This may be helpful if you would like to ensure that there is minimal gain and maximum loss from this sale.
Warning and Disclaimer:
MySF Manager does not recommend or discourage the use of any of the above allocation approaches. Some or all of these approaches may not be permitted in your location and/or for your fund. Additionally, these allocations may not be optimal for the fund as they do not consider anything outside of details of the sale at hand, such as the financial situation and goals of the portfolio and its investors. Please ensure that you check with the ATO about whether or not the various allocations are permitted; and check with a suitably accredited finance professional about whether or not the allocation is optimal for the portfolio. If you are unsure about any of this then please do not use the automated allocations shown.
Bugs fixed
* Member allocation table's accounts are refreshed at the time of update to ensure that concessional, non-concessional and excessive accounts are correctly taken into account when determining a split of profits.
* Failure lists of the revaluation screen can now be exported so that any manual corrections or revaluations can take place with less effort.
* (this was not really a bug) Opening Balances screen modified to ensure that no mistaken entries get posted to potential parent accounts for asset classes.
Future updates
Future improvements planned for MySF Manager include items that help users gain even better control of their investments and be more informed about their performance. Functions which will be added in future updates include:
- time weighted return calculations, an industry standard
- dollar weighted (IRR) return calculations.
- additional benchmarking of subsets of assets based on asset class, allocation category, advisor, fund manager
How to update
1.) Before updating please ensure that you create a backup of your fund through Housekeeping > Create Backup.
2.) Please go to File -> Check for Online Updates in your copy of MySF Manager to obtain the latest update.
For any questions or queries please do not hesitate to contact us at info@mysf.com.au.
Regards,
MySF
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