BGL Corporate Solutions is the developer of Simple Fund, the software we use to administer our SMSF. It is a bit more high-powered than we need as it is designed for accountants to manage multiple funds on behalf of their clients including doing audits and submitting tax returns.

However, once I got my head around debit/credit (it is not as user friendly as say, MYOB) when entering the various transactions, it is easy to use and provides very comprehensive reporting. I do my own accounts using Simple Fund and submit the reports to my accountant along with the physical documentation (bank, share trade and dividend statements etc). He does the audit and prepares and submits the fund’s tax return for about $770 which is pretty good value.

Simple Fund has an annual license fee which is about $300 a year. So including the ATO fee, it costs not much more than $1,100 for us to run our Super Fund - less than 1%, very low fees indeed.