Introduction
Setting up a self managed super fund (SMSF) in the right accounting platform isn’t just about ticking boxes — it’s about building a foundation for accuracy, compliance, and efficiency. Whether you’re an SMSF accountant, auditor, or bookkeeper, the software you choose (and how you configure it) will directly impact your workflow, reporting accuracy, and client satisfaction.
In this guide, we’ll walk through the setup process for BGL360, Class Super, SuperMate, and Mclowd, highlight key differences, share automation tips, and show how BlueCrest Accounting Solutions can help you outsource the setup process so you can focus on higher-value work.
Why SMSF Software Setup Matters
- Compliance first: Correct setup ensures your fund meets ATO reporting requirements from day one.
- Time savings: Automation features reduce manual data entry and reconciliation.
- Audit readiness: Well-structured data makes year-end audits smoother and faster.
- Scalability: A clean setup supports growth without rework.
BGL360 Setup Essentials
Best for: Firms wanting deep automation and integration with banks, brokers, and registry services.
Key setup steps:
- Fund creation: Enter ABN, TFN, and trustee details accurately.
- Chart of accounts: Use BGL’s default or customise for your reporting style.
- Data feeds: Activate bank, broker, and registry feeds early to avoid backlogs.
- Member details: Ensure contribution caps and pension settings are correct.
Automation tip: Use BGL’s Smart Matching to auto-code transactions — but review rules periodically for accuracy.
Best for: Firms managing large SMSF volumes with a focus on portfolio reporting.
Key setup steps:
- Fund wizard: Follow Class’s guided setup to minimise missed fields.
- Asset register: Import holdings via CSV for speed.
- Corporate actions: Enable automatic processing for dividends, splits, and consolidations.
- Member components: Set up accumulation and pension accounts separately for clarity.
Automation tip: Leverage Class’s Business Events to trigger alerts for contributions, pensions, or compliance breaches.
Best for: Firms wanting a desktop-based solution with strong reporting flexibility.
Key setup steps:
- Fund profile: Input all trustee and member details upfront.
- Ledger setup: Map accounts to your preferred reporting format.
- Data import: Use SuperMate’s import tools for bank and broker data.
- Tax settings: Configure tax rates and exemptions correctly from the start.
Automation tip: Use batch processing for multiple funds to save time on repetitive tasks.
Mclowd Setup Essentials
Best for: Cost-conscious setups or smaller funds with simpler needs.
Key setup steps:
- Fund creation: Enter all compliance details accurately.
- Chart of accounts: Customise to match your reporting requirements.
- Manual data entry: Be prepared for more manual work compared to other platforms.
- Document storage: Use Mclowd’s integrated storage for easy audit access.
Automation tip: While automation is limited, you can still streamline by creating transaction templates for recurring entries.
Choosing the Right Platform
Feature / Platform | BGL360 | Class Super | SuperMate | Mclowd |
|---|
Cloud-based | 
|
| 
|
|
Automation level | High | High | Medium | Low |
Cost | Medium | Medium-High | Medium | Low |
Best for | Automation & integrations | Large portfolios | Desktop flexibility | Budget setups |
How BlueCrest Can Help
- End-to-end setup: We configure your chosen platform for compliance and efficiency.
- Data migration: Smooth transfer from legacy systems without data loss.
- Automation rules: Tailored to your fund’s transaction patterns.
- Ongoing support: Troubleshooting, training, and process optimisation.
- Result: You save time, reduce errors, and have confidence your SMSF data is audit-ready.
Final Thoughts
The right SMSF software setup is an investment in accuracy, compliance, and peace of mind. Whether you choose BGL360, Class Super, SuperMate, or Mclowd, the key is getting the foundations right from day one.
BlueCrest Accounting Solutions specialises in SMSF outsourcing services that combine technical precision with a human touch — so you can focus on growing your practice while we handle the setup and administration.
Call to Action:
Ready to streamline your SMSF setup? Contact BlueCrest Accounting Solutions today to discuss your outsourcing needs.
