Accuracy

We have an ongoing audit team checking the data input. This capability is critical when providing a daily service as we do not have the luxury of being able to carry mistakes until the fund goes to formal audit.

Cost

Our ongoing fee ranks amongst the most competitive in the industry. We have costed our service based on the staffing requirements we need to produce a “Rolls Royce” service. The maxim “you get what you pay for” is not true in our case. Our service offering is significantly above those of our competitors even though some of them charge more than twice as much as we do. In addition we offer a significant discount to any fund utilising the services of any master trust or wrap capable of providing us with the appropriate reports.

Our standard administration service includes BAS therefore each fund receives a 75% refund of the GST on ongoing fees paid by the fund. To gain a comparison between what we charge and what an alternative provider that does not register the fund for GST charges you should reduce our fee by the GST refund. Our fee calculator is available by clicking here. 

Client Ownership

Funds belong to the adviser not to us. If trustees wish to sack the adviser and deal direct with us we report the contact to the adviser. We will only continue providing services if trustees transfer to another adviser who utilises our system.

Web Reporting

We update fund information to the web each day. Our current reports are available by clicking here.

Customised Web Site Link

We can create a link for you to our web site's reporting module which can be customised to fit into your web site's look and feel. This will allow your clients to access their reports from your site.

Badging

Our web site reports include a cover page with your name and logo if you wish. Our reporting modules can be linked to your site and be badged with your logo and details. Tranzact Super will then be invisible to your clients.

Electronic Filing & Audit

We scan all documents received and file all documents electronically as PDFs. All data is held on our servers in Brisbane. Though we provide an audit service some accountants will prefer to give up their SMSF compliance and administration responsibilities but retain the audit function. Our systems accommodate the accountants’ wish to maintain control and their net revenue while being relieved of the administration and compliance function. This represents an excellent opportunity for advisers wishing to develop closer accountant relationships. We will provide the audit files by e-mail and give the accountant access to the electronic files via the web.

Documentation

We do not currently provide documentation that can be completed on line though all of our documentation is available to be downloaded from the web site. It has been arranged in packages so that, for a given client situation, all documents required are printed together.

Strategic Advice

We provide a sounding board for adviser strategies and regard the ongoing development of adviser knowledge as a priority.

Education & Client Seminars

Per Accountants services

Your Responsibility

Naturally such a service cannot be provided without the cooperation of all parties involved.

The majority of questions we receive relate to the misconception that ours is a portfolio administration service – it is not.  Our service is a self managed superannuation fund information and compliance bureau.  Portfolio administration is a by product of this, not the main focus.  Consequently, though you will typically see the immediate effect of an addition to your portfolio’s cash account in a portfolio administration service our service will not reflect that deposit until we are aware of its nature – fully or partly tax deductible or undeducted, contribution or rollover, nature of components, preserved or unpreserved, split between members, etc – as each entry we process must also include a taxation and compliance overlay. 

Absence of full information in a form suitable for audit is the most common source of processing delays and queries. As we do not initiate transactions we need you to use a transaction notification or contribution notificationform to let us know when any have occurred. As information flow is vital we prefer that either the adviser or ourselves act as the postal address for all investments or, alternatively, we require a copy of all relevant information. Where we are aware that a transaction has occurred without confirmation we will contact the adviser by e-mail and request clarification.

One of the major problems we encounter is the lack of a yellow book or APIR code on managed fund documentation. Many managed funds have a retail and wholesale version. Often the paperwork produced by the fund manager does not specify which version has been selected. Though we usually select the correct code we appreciate your assistance in this regard so our valuation report shows the investment coding we have selected. We need you to check that this is the correct code and advise us if it is not. (Codes are generally available from Morningstar or the relevant fund manager.) As many self managed superannuation fund investments are manually valued we also need your assistance to ensure the values we are showing are correct for these types of investments.

For further information please contact us on 1800 644 804.