Self‑managed super funds (SMSFs) are a vital part of Australia’s retirement system, but they come with complex compliance requirements and high expectations from trustees. For SMSF accountants and financial planners, the right SMSF accounting software can transform administration from a burden into a streamlined, value‑adding process.
Two platforms dominate the SMSF software landscape: Class Super and BGL Simple Fund 360 (SF360). Both are cloud‑based, both automate data feeds and compliance, and both provide trustees with transparent reporting. Yet, each approaches SMSF administration differently.
In this guide, we will highlight their major strengths to helps accountants and financial planners decide which platform best aligns with their practice.
Why SMSF Software Matters for Accountants?
Accountants working with SMSFs face unique challenges:
- Heavy compliance load — TBAR reporting, tax returns, and audit requirements demand accuracy.
- Time pressure — year‑end reconciliations and reporting can consume valuable hours.
- Client expectations — trustees want clear, timely statements and transparency.
- Scalability — firms managing dozens or hundreds of funds need systems that handle volume efficiently.
The right SMSF software for accountants addresses these challenges by:
- Automating reconciliations and corporate actions.
- Providing audit‑ready workpapers and compliance tools.
- Offering trustee portals for transparency.
- Supporting multi‑user roles so teams can collaborate securely.
Ultimately, good software frees accountants to focus on advisory work rather than repetitive administration.
Class Super: Features and Highlights
Class Super is known for its bulk automation capabilities, making it easier to process large volumes of SMSFs efficiently. Key features include:
- Bulk processing — handle multiple funds simultaneously, saving time.
- Consolidated portfolio reporting — clear views across multiple entities.
- 200+ direct data feeds — daily reconciliation from banks, brokers, and wraps.
- Automated tax statement preparation — reduces manual compliance work.
- Audit‑ready reports — structured outputs for auditors.
- Mobile trustee access — transparency for members and trustees.
Class Super is often chosen by firms that value efficiency and consolidated reporting across large fund bases.
BGL Simple Fund 360: Features and Highlights
BGL360 takes a different approach, emphasising AI‑driven automation and compliance workflows. Key features include:
- AI transaction matching — reduces manual posting and errors.
- SmartDocs — automated document reading and corporate action processing.
- TBAR console — streamlined transfer balance account reporting.
- Integrated tax return workflows — paperless compliance and lodgement.
- Trustee portal — fund performance and compliance updates for members.
- Automated corporate actions — reduces manual intervention.
BGL360 is often selected by firms that prioritise compliance accuracy, audit efficiency, and AI‑driven automation.
Side‑by‑Side Comparison
Feature | Class Super | BGL Simple Fund 360 |
Automation | Bulk processing, consolidated portfolios, tax statement automation | AI‑powered transaction matching, SmartDocs, automated corporate actions |
Data Feeds | 200+ direct bank, broker, and wrap feeds | Extensive feeds with AI reconciliation and TBAR management |
Compliance Tools | Automated tax statement prep, audit‑ready reports | TBAR console, integrated tax return workflows, workpapers |
Trustee Access | Consolidated portfolio view, mobile access | Trustee portal with fund performance and compliance updates |
Migration & Setup | Vendor onboarding support, bulk entity processing | Migration tools, AI‑driven setup, paperless workflows |
What to Choose and Why
Choosing between Class Super and BGL360 depends on your firm’s priorities:
- Volume vs Compliance Focus — Class Super excels at bulk processing and consolidated reporting, while BGL360 shines in compliance workflows and AI automation.
- Trustee Engagement — both offer portals, but the style of reporting differs; consider what your clients value most.
- Integration Needs — Class integrates strongly with portfolio management systems, while BGL360 connects with practice management and compliance tools.
- Team Workflow — firms with larger teams may prefer Class’s bulk tools, while firms focused on compliance detail may lean towards BGL360.
There isn’t a single “best” option — the right choice depends on your practice’s structure, client base, and growth plans.
Also Read: SMSF Accounting Software Setup in BGL360 and Class Super
Why Accountants Should Care
For accountants, SMSF software isn’t just about compliance. It’s about:
- Reducing risk — audit‑ready reports and reconciliations protect against errors.
- Improving efficiency — automation frees time for advisory work.
- Enhancing client trust — transparent portals and timely reporting build stronger relationships.
- Scaling operations — cloud platforms support growth without adding manual workload.
Both Class Super and BGL360 bring unique strengths to SMSF administration. Whether you choose Class Super or BGL360, the investment in robust SMSF software pays dividends in efficiency, compliance and client satisfaction. The choice depends on your firm’s priorities, workflows, and client expectations.
Partner with BlueCrest for SMSF Outsourcing
At BlueCrest Accounting Solutions, we specialise in SMSF outsourcing designed to take the complexity out of fund administration. Whether you’re implementing a new SMSF accounting platform or migrating from one system to another, our team provides fixed‑fee onboarding, migration, and optimisation services across Class, BGL360, and McLowd. The result is a practice that is audit‑ready, compliant, and efficient from day one.
Why Setup Matters
Getting SMSF software right from the start is critical. A precise setup ensures compliance, reduces risk, and creates a smoother workflow for accountants, planners, and trustees alike. At BlueCrest, we handle these essentials with care and accuracy:
- Fund Data Entry — ABN, TFN, addresses, and other essential fund details entered with precision.
- Trustee & Member Account Setup — Creation of individual accounts with correct roles and balances.
- Opening Balances & Historical Data — Loading prior‑year investment parcels and member balances for continuity.
- Chart of Accounts Configuration — Customised setup aligned with your reporting preferences and compliance needs.
- Bank & Broker Feed Activation — Integration support for automated data feeds and transaction syncing.
- Software‑Specific Optimisation — Tailored setup for Class, BGL360, or Mclowd to ensure compatibility and audit readiness.
The Outcome
By outsourcing these steps to BlueCrest, you gain confidence that your SMSF administration is:
- Efficient — automated workflows reduce manual effort.
- Compliant — every detail aligned with regulatory requirements.
- Audit‑ready — structured records and reconciliations prepared from day one.
Reach out to BlueCrest Accounting Solutions today to explore how we can help you implement or migrate SMSF accounting software with precision and peace of mind.
