iCare Super uses the most professional accounting and administration software to provide accurate accounting information for your SMSF.
If you do not specifically mention any software to be used for your SMSF, we will choose BGL Simple Fund Desktop Software free of charge. The software does not give you 24/7 access to your fund record but it is sufficient to manage the compliance work for your SMSF.
If you want to use other software and the costs and access details are listed as below:
1. Class Super Software: the annual subscription for Class Super per fund is $275 per year (GST inclusive). We will subscribe the software on behalf of your fund but trustees need to reimburse the full costs to iCare Super.
2. BGL Simple Fund 360 Software: the annual subscription for BGL Simple Fund 360 per fund is $198 per year (GST inclusive). We will subscribe the software on behalf of your fund but trustees need to reimburse the full costs to iCare Super.
3. SuperMate: the annual subscription for SuperMate is $132 per year (GST inclusive). We will subscribe the software on behalf of your fund but trustees need to reimburse the full costs to iCare Super.
4. Mclowd Software: the access to one version of this software is free at this stage. The free version is not ad-free. We have not got any clients using this software at this stage. It is your personal choice to choose to use it or not and we do not have any restrictions.
5. BGL Simple Fund Software: it is a desktop version and we will pay the subscription costs. While you do not have any online access to your fund data, this software is more than sufficient to provide administration and compliance work for your SMSF. All the compliance reports, tax return will be sent to you by email.
BGL has announced on 15 February 2021 that they will stop providing this software very soon. The 2021 financial year tax return will be last one that can be prepared in this software.
We will provide alternative solutions to our SMSF clients in due course and ensure the quality of the reports and tax returns are not affected by this change.
6. HandiSoft Superfund: this module is a desktop version that is best to process SMSFs with low volume transactions. Their key features can be found here.
7. MYOB AO/AE Software: this software has capability to handle simple SMSFs.
Please feel free to contact us if you have any questions in regards to the software options.