What is a transaction account? Your cash account is the central hub to complete and track all cash transactions. One dedicated transaction account is paramount for effectively managing your SMSF, Business, Partnership, Trust & Personal Wealth because it will supply information about all cash related transactions. These transactions include:
In order to streamline the accounting function of your entity, we have chosen ANZ V2 PLUS Account to deliver data to Supervision and associated IT partners. Every day your banking transactions are uploaded into our accounting system and accounted for. Because the bank provide this free, it helps to keep costs down throughout the supplier chain which helps you reduce your SMSF costs.
This transaction accounts provides online banking to all of our clients, through a top class and user friendly internet banking facility. You can transfer amounts between transaction accounts directly to pay bills for tax or other asset purchases. It is easy to establish periodic payments for pensions or recurring payments that need to be made.
ANZ V2 PLUS Account has a solid track record of paying a competitive interest rates to their transaction account holders. The interest rate is calculated daily and paid monthly. Whilst the transactional account pays interest, your SMSF or other Investment vehicle should not rely on your transactional account to generate all of your investment returns. It should make up part of the overall investment strategy not dominate it.
The linkage of our transaction accounts with other product providers such as Term Deposit and Share trading accounts is important because it eliminates the need for you to manually transfer money between accounts. This is the smart way to go, make the trade and the bank transfer just happens.
It is important to understand that not all transaction accounts are the same when it comes to accounting and administration requirements. Our experience tells us that the quality of reporting, payment options and data feeds all contribute to the ease at which Supervision can complete your accounting requirements. Without the common features above, your Entities can’t be kept up to date and you can’t get things like your tax return done quickly.
*Interest rates change. Please check with the account provider directly to confirm the interest rate.
This transaction account allows you to move funds in and out within an environment of complete visibility and control.
Our chosen transaction account offers an efficient way to facilitate your investments. With an extensive range of features and services, the accounts may be the ideal transaction account for consolidating your cash and establishing an efficient cash flow management system.
All of your listed income receipts will be automatically direct credited to this transaction account in the case of dividend, distributions, rent and other income payments.
Where possible all your known expenses will be automatically direct debited from this account in the case of regular monthly administration & compliance fees, loan repayments, insurance premiums, pension payments, investment plans and more.