The starter is under the swing arm right behind the engine. A heavy smack sound (how you describe it) on start up along with a re-sweep of the gauges indicates a loose connection (arcing). This could be at the battery connections, ground to frame or at the starter solenoid. It could be inside the solenoid also as DEcosse stated. Sometimes the starter is activated and as the starter drive tries to engage the flywheel it doesn't mesh properly.... that's why rocking the bike in gear might help correct this.
Don't assume the battery is good because it is new. As a note of caution, I've seen batteries that would fail internally and make a loud arcing sound when a heavy draw was placed on them. Most of the time this led to the battery exploding so take care and note where the noise originates.