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:

Did this answer your question?