Compliance Review - Part 1 - Observations

Compliance Review - Part 1 - Observations



SMSF Sorted Pro does everything you’re used to with Lite, but so much more. This full-package software actually keeps an eye on your checks and balances. 

That’s right, by running automated checks—called “Observations”—SMSF Sorted Pro will save you countless hours. 

How?
Checking the financial data, as it’s imported, against third-party (e.g. ASX) data. Any item requiring investigation is flagged—literally, with a red flag, visible on the jobs dashboard— as potentially needing reprocessing.

What’s observed?
-SMSF Sorted Pro keeps an eye by making:
-Pension checks
-Market price checks
-Income checks
-Condition of release checks.

Red flags can be a real headache in SMSF administration. Why not let your software take on some of that burden?

To book your free demo  Click here

    • Related Articles

    • Observations

      Introduction Observations in SMSF Sorted are automated validations and checks designed to identify specific compliance situations that may require attention. These observations help ensure that funds are compliant and highlight any issues that need ...

    • How to efficiently Review with SMSF Sorted

      Introduction In the dynamic world of SMSFs, staying organised and efficient is important. For reviewers using SMSF Sorted, a well-structured workflow can make all the difference in ensuring a thorough review of financial data and associated ...

    • Using Queries & Review Points

      Introduction While working on SMSF jobs, it is common to raise internal queries or respond to queries from auditors after job submission regarding financials or missing evidence. Additionally, you can leave internal notes, known as Review Points, ...

    • Compliance Review - Part 2 - Workpaper Tools

      With SMSF Sorted Pro you can enjoy an even smoother workflow thanks to Workpaper—an end-to-end solution for your reconciliation and workpaper preparation. Formatted just like MS Excel documents, the 8 Workpapers (WPs) are available for jobs imported ...

    • How to Add Comments, Queries, and Review Points

      Introduction Here's how you can Raise a Query, Review Points and Add Comments as and when required. Add Comments Step 1: Click Add Comments within the observation. Step 2: Enter your comment in the text box and click Save. Step 3: The comment icon ...