Re day to day running - here's a very generalised summary:
- pick your provider / accountant - they will assist you establish the fund - open a bank account (in the name of the fund) - organise the rollover and once the proceeds are banked; - place investments as you see fit - ensure direct credit (or drp if you like) are set up - keep records of each transaction during the year including:
provide all source docs to your provider / accountant after year end including the bank statements and assuming you use an online broker, a printout of the portfolio at year end and a transaction history (no need for contract notes)
keep a complete record and your accountant will have no difficulty preparing a set of financial statements / arrange audit and if they're any good they'll assist with strategies during the year etc
This is a simplistic and traditional approach but still very effective - you can of course engage a planner to assist with investment decisions but if you chose to 'go alone' your chosen accountant can help and all you really need to do is keep full records and if earnings / contributions are via direct credit you really have very little to do except make money
PS - and just to confuse the matter, your tax accountant isn't necessarily a good smsf accountant
