SMSF Sorted EOFY Updates- FY2023

SMSF Sorted EOFY Updates- FY2023

End of the Year Updates for FY 2023


A few updates have been made in the current observations, they're as follows:-

Lump Sum Payment

  1. If a lump sum payment is made and the member’s age is less than 59, the Lump Sum Payment observation will be reflected in the warnings section. 
  2. This will not apply to the previous FYs (2022 or any other preceding years).

Retirement Condition

  1. If a lump sum payment is made and the member’s age is between 59-65, Retirement Condition observation will be reflected in the warnings section.
  2. This will not apply for the previous FYs (2022 or any other preceding years).

Work Test

  1. If a member is 67 years or above and made a concessional contribution (amount in Contribution as allocated) then the Work Test observation will be reflected in the warnings section.
  2. This will not apply for the previous FYs (2022 or any other preceding years)

Other Updates

  • An option to create FY 2024 jobs has been enabled for Sorted Pro users.

  • Sorted Pro users can now view the progress of jobs submitted to the auditor from their dashboard itself. They can also set the default view of their dashboard from setting icon.

  • If a member is suspended from the fund it would not appear in the active members list in the client details. Users can click on the 'View Inactive Members' checkbox to view old members of the fund.

  1. Few other bugs and fixes are addressed in this release.

    • Related Articles

    • SMSF Sorted Release v3.1.4

      The latest SMSF Sorted release v3.1.4 includes below points: 1. EOFY Updates: 50% reduction in the minimum pension drawdowns extended to FY 2023 and hence pension workpapers in SMSF Sorted have been updated to consider this effect. Option to create ...

    • SMSF Sorted release 3.0

      Release Contents This latest release of SMSF Sorted delivers several new features including the ability to receive Audit Engagement & Trustee Representation letter templates from audit firms using our Cloudoffis Auditomation product, along with new ...

    • SMSF Sorted Release 2.5

      Release Contents New in SMSF Sorted 2.5 We have introduced an exciting new financial workpapers feature to SMSF Sorted. As part of this initial release, workpapers will be available for Property, GST reconciliation, and Tax reconciliation These will ...

    • Syncing from Sorted Lite before the Client or Job is created in SMSF Sorted

      Syncing from Sorted Lite before the Client or Job is created in SMSF Sorted Follow the steps below to Sync data from Sorted Lite if the client or job has not yet been created in SMSF Sorted. Step 1 - From Class, choose the fund ready to be ...

    • SMSF Sorted Workpapers

      Introduction With the release of SMSF Sorted 2.5, Cloudoffis has introduced workpapers to support the preparation of the Financial Statements. This article will outline how to access this feature, and what workpapers are available. What are the ...