Iress Contributor27th March AMA: I'm Lana Graham, Xtools+ expert and product manager. Ask Me Anything!
Hi Lana,
Once the Xtools+ Reinvented Super and Pension Project is completed, could you schedule a webinar to explain the changes and demonstrate how it works? It would be great to include a Q&A session where participants can ask questions and receive answers in real-time.
Regarding the pension options, it's difficult to determine how the removal of these options would affect me at this stage. However, if you could show us how the following works in the new transaction screen, I might have a better understanding of whether it will continue to meet my needs:
- Cash out re-contributions (CORC) one-off and annually (SMSF and retail individually and/or to one another) and commencing new pensions with the new tax-free funds.
- Making contributions at the commencement of a pension.
Additionally, I have some "wishes", that I hope have been included in the project:
- An option to "expend" SMSF Pension payments.
- An option to show the SMSF Pension Chart for the duration of the modeling, similar to what we do for retail pensions.
and thank you!
Iress ContributorHi bridget.schilg9 ,
Reinvented Super and Pension Modelling Webinar
I was just chatting to our training manager about that yesterday! Yes, we’re planning an intro to the new features as well as a series of webinars to show you how to model various strategies. And I always love being there to answer your questions.
Sneak Peak
Here’s a sneak peak of our new Transactions screen! See all those tabs at the top? They allow you to model transactions in the order that they affect the super account, before you finally model your new pension (last tab), which will include the transactions you have modelled.
I have a challenge for you (and anyone else reading): Is there a retirement strategy you won’t be able to model with these screens? Don't be afraid to let me know if there is anything you are curious or concerned about.
SMSF Expend option
We removed the expend option from SMSF Pensions a couple of years ago as its an incredibly heavy calculation that was impeding performance. We originally intended to remove Expend altogether, however refrained as we know how much users love it. We intend to replace the expend option for Individuals and SMSFs with something more efficient, however equally delightful as part of our proposed Cashflow initiative.
SMSF Pension Chart
About the SMSF Pension Chart - I’m not sure exactly what you mean, so I’d like us to discuss it in more detail. Can you please lodge an Xtools Connect item? More details in this Iress Community article: XTOOLS Connect - a new way to collaborate with the Xtools team! (Australia)
Hi lana.graham
Just confirming if we at site admin level, if we can get early access to Test the functionality as no doubt with quite an update I would expect an influx in support requests
Thanks
Josh
- lana.graham
Hi joshua.heath ,
If your business has an existing test site they can be part of our pilot testing. We'll load up the changes to the site so you can test them for yourself.
You can lodge an Xtools Connect request for the pilot (or your site admin could lodge the request), or you could contact your relationship manager. Once we have your request, the test site name and URL you could have it up and running next week.
