To enable us to efficiently complete your SMSF returns we need to pull the bank account transactions from your SMSF bank and loan accounts into our specialist accounting system (Class).
IMPORTANT:
These instructions require the account owners (trustees) to be registered for Westpac Online Banking (Westpac Live). If not currently registered, a self-registration can be completed online:
https://www.westpac.com.au/personal-banking/online-banking/getting-started/
Additional Resources:
- Word version of these instructions: download here
- PDF version of these instructions: download here
- Recommended client email text: Outlook message or Plain text
- Downloading Westpac statements: Client instructions or download here
Turning on your data feeds:
The following steps outline the process to turn on your Westpac data feed:
- Login to your Westpac online banking
- Select Services from the Services & preferences menu as shown below:
- On the Servicespage select Bank feeds as shown below:
- On the Bank feeds screen (shown below), from the Account drop-down menu select the accounts that you wish to set the data feed up for.
- From the Third-party service provider drop-down menu select CLASS.
- Enter the 6-digit Class Verification Code(s) provided by Intello (there will be a different verification code per account).
- Enter your contact email address.
- Once you have made your selections click Connect Feed
- You will receive a message indicating that the bank feed request has been received and will be activated. Your accountant should start receiving the data within one to two business days.
- Repeat the process for other accounts held by your SMSF – including your SMSF property loan accounts where applicable.
Other information:
- Activating a data feed does not give us access to your bank accounts – we simply receive a copy of the transactions and the balance of the account each night
- The data feed does not provide us with historical bank transactions. This means we will still require you to provide bank statements or a transaction report from your internet banking for any transactions from the date the account was opened to the date the data feed commences.
- You will still be required to provide a copy of some statements to us to satisfy the independent auditor of the SMSF. Bank statements show additional important information including the name of the account holder.
- By activating Westpac account data feeds it will reduce the statements we will request in future years.
Other resources / downloads:
- Westpac Online Data Feed Activation.msg (Outlook message file)
- Westpac Online Data Feed Activation Text( Word file)
- Westpac Online Data Feed Activation Instructions: Word or PDF