Changes for page Section 14 transfer

Last modified by Megan Kahl on 2022/08/03 09:03
<
From version < 66.1 >
edited by Megan Kahl
on 2021/10/01 12:23
To version < 101.1
edited by Megan Kahl
on 2022/08/03 09:03
Change comment: There is no comment for this version

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1 -(% style="text-align: center;" %)
2 -= (% style="color: rgb(41, 128, 185); font-size: 28px" %)**Section 14 Transfer Process**(%%) =
1 +(% class="wikigeneratedid" id="HSECTION14TRANSFERPROCESS" style="text-align: center;" %)
2 +(% style="color:#2980b9; font-size:28px" %)**SECTION 14 TRANSFER PROCESS **
3 3  
4 4  
5 5  
... ... @@ -11,14 +11,25 @@
11 11  
12 12  
13 13  (% style="text-align:center" %)
14 -[[image:Section 14 Transfer Process_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
14 +[[image:Section 14 Transfer Process_html_8cba33b1e8c9fa24.gif||data-xwiki-image-style-alignment="center" height="128" width="463"]]
15 15  
16 +{{info}}
17 +(% style="break-before: page; text-align: center;" %)
18 +(% style="color:#2980b9; font-size:20px" %)**TABLE OF CONTENTS**
16 16  
17 -(% style="text-align: center;" %)
18 -== (% style="color:#2980b9" %)**Introduction**(%%) ==
19 19  
21 +{{toc/}}
20 20  
23 +
24 +{{/info}}
21 21  
26 +
27 +
28 +(% style="break-before: page; text-align: center;" %)
29 += (% style="color:#2980b9" %)**Introduction**(%%) =
30 +
31 +
32 +
22 22  When processing a section 14 transfer out of Everest various factors need to be considered before commencing on the system.
23 23  
24 24  1. Is the section 14 transfer for an individual member?
... ... @@ -29,318 +29,351 @@
29 29  
30 30  
31 31  
32 -(% style="text-align: center;" %)
33 -== (% style="color:#2980b9" %)**Section 14 Process for an Individual Member**(%%) ==
43 +(% style="break-before: page; text-align: center;" %)
44 += (% style="color:#2980b9" %)**Section 14 Process for an Individual Member**(%%) =
34 34  
35 35  
36 36  
37 -Section 14 where the member is invested in a Managed Fund
48 +== (% style="color:#2980b9" %)**Section 14 where the member is invested in a Managed Fund**(%%) ==
38 38  
39 -Generate a Member Statement and ensure that all transactions have been completed and priced. Exit the member using the standard Member Exit Batch. Ensure that the workflow process is completed in full. The Disinvestment Process, which is part of the workflow MUST be done to ensure that the investable portion is moved to Bank for payment. Tax must be applied for on all Section 14 Transfers, in line with SARS’ rules. Payment is then made to the receiving Fund.
50 +Generate a Member Statement and ensure that all transactions have been completed and priced.  Exit the member using the standard Member Exit Batch.  Ensure that the workflow process is completed in full.  The Disinvestment Process, which is part of the workflow MUST be done to ensure that the investable portion is moved to Bank for payment. Tax must be applied for on all Section 14 Transfers, in line with SARS’ rules.  Payment is then made to the receiving Fund.
40 40  
41 -Section 14 where the member is invested in a Unitized Fund
42 42  
43 -Generate a Member Statement and ensure that all transactions have been completed and priced. Exit the member using the standard Member Exit Batch. Ensure that the workflow process is completed in full. The Disinvestment Process, which is part of the workflow MUST be done to ensure that the investable portion is moved to Bank for payment. Execute the transaction in Market and ensure that the transaction is priced before continuing. Tax must be applied for on all Section 14 Transfers, in line with SARS’ rules. Payment is then made to the receiving Fund.
53 +== (% style="color:#2980b9" %)**Section 14 where the member is invested in a Unitized Fund**(%%) ==
44 44  
55 +Generate a Member Statement and ensure that all transactions have been completed and priced.  Exit the member using the standard Member Exit Batch.  Ensure that the workflow process is completed in full.  The Disinvestment Process, which is part of the workflow MUST be done to ensure that the investable portion is moved to Bank for payment.  Execute the transaction in Market and ensure that the transaction is priced before continuing. Tax must be applied for on all Section 14 Transfers, in line with SARS’ rules.  Payment is then made to the receiving Fund.
45 45  
46 46  
47 -(% style="text-align: center;" %)
48 -== (% style="color:#2980b9" %)**Bulk Section 14 Process**(%%) ==
49 49  
59 +(% style="break-before: page; text-align: center;" %)
60 += (% style="color:#2980b9" %)**Bulk Section 14 Process**(%%) =
50 50  
51 51  
52 -Bulk Section 14 where the member is invested in a Managed Fund
53 53  
64 +== (% style="color:#2980b9" %)**Bulk Section 14 where the member is invested in a Managed Fund**(%%) ==
65 +
54 54  * Generate a few Member Statements and ensure that all transactions have been completed and priced. Check that there are no Outstanding Contributions.
55 -* that the banking details of the receiving Fund has been loaded in the Administration > Financial Settings > System Bank Accounts > Transfer Funds (Bank Account Type) screen. Should the user not have access to this screen ensure that someone who does have access loads the banking details before commencing the process.
67 +* that the banking details of the receiving Fund has been loaded in the (% style="color:#2980b9" %)Administration > Financial Settings > System Bank Accounts > Transfer Funds (Bank Account Type)(%%) screen. Should the user not have access to this screen ensure that someone who does have access loads the banking details before commencing the process.
56 56  
57 -Select and generate the “**Client Member Investment Product”** batch.
69 +Select and generate the(% style="color:#2980b9" %) “**Client Member Investment Product”** (%%)batch.
58 58  
59 -Effective Date: Today’s date.
71 +(% style="color:#2980b9" %)**Effective Date:**(%%)** **Today’s date.
60 60  
61 -Click on “**Save**” and “**Execute**”.
73 +Click on (% style="color:#2980b9" %)“**Save**” (%%)and (% style="color:#2980b9" %)“**Execute**”.
62 62  
63 63  
64 -[[image:Section 14 Transfer Process_html_c72b9ed75dcebe90.png||height="375" width="596"]]
76 +(% style="text-align:center" %)
77 +[[image:1633327074202-714.png||data-xwiki-image-style-alignment="center"]]
65 65  
66 -
79 +(% style="break-before: page" %)
67 67  A report will generate reflecting the member’s current Fund Credit.
68 68  
69 69  
70 -[[image:Section 14 Transfer Process_html_8541d28b1417b9c.gif||alt="Shape4"]] [[image:Section 14 Transfer Process_html_7e29ef10d964b47f.gif||alt="Shape3"]] [[image:Section 14 Transfer Process_html_c649388b137190ca.gif||alt="Shape2"]] [[image:Section 14 Transfer Process_html_3930484e7184c6de.gif||alt="Shape1"]] [[image:Section 14 Transfer Process_html_3d86ffcc6981f295.png||height="227" width="596"]]
83 +(% style="text-align:center" %)
84 +[[image:1633327282743-140.png||data-xwiki-image-style-alignment="center"]]
71 71  
72 72  
73 -Using the **Import Unclaimed Benefit Template**, create a file for import. This template will process the member’s exits in Bulk and write up the payment to be paid into the transferring Fund.
87 +Using the (% style="color:#2980b9" %)**Import Unclaimed Benefit Template**(%%), create a file for import. This template will process the member’s exits in Bulk and write up the payment to be paid into the transferring Fund.
74 74  
75 75  
76 -[[image:Section 14 Transfer Process_html_24594eb853258361.gif||alt="Shape8"]] [[image:Section 14 Transfer Process_html_70f18afe2e169708.gif||alt="Shape7"]] [[image:Section 14 Transfer Process_html_70f18afe2e169708.gif||alt="Shape6"]] [[image:Section 14 Transfer Process_html_24594eb853258361.gif||alt="Shape5"]] [[image:Section 14 Transfer Process_html_edac83519c80620f.png||height="88" width="596"]]
90 +(% style="text-align:center" %)
91 +[[image:1633327441733-379.png||data-xwiki-image-style-alignment="center"]]
77 77  
78 78  
79 79  Critical fields that must be considered are:
80 80  
81 -System Number This is the unique Everest generated number.
96 +(% style="color:#2980b9" %)**System Number  **(%%) This is the unique Everest generated number.
82 82  
83 -Exit Type The Exit type is depicted as a number that must be copied from the Key to ensure that the correct exit type is used.
98 +(% style="color:#2980b9" %)**Exit Type**(%%)  The Exit type is depicted as a number that must be copied from the Key to ensure that the correct exit type is used.
84 84  
85 -ID Number Member’s Identity number.
100 +(% style="color:#2980b9" %)**ID Number**(%%)  Member’s Identity number.
86 86  
87 -Tax Ref No Member’s tax reference number.
102 +(% style="color:#2980b9" %)**Tax Ref No**(%%)  Member’s tax reference number.
88 88  
89 -DOX Date of exit, this is the Section 14 date.
104 +(% style="color:#2980b9" %)**DOX  **(%%) Date of exit, this is the Section 14 date.
90 90  
91 -Gross Benefit This is the Rand Amount of the member’s benefit to be transferred, if its not 100% of the members benefit. Leave blank if the full benefit is to be transferred
106 +(% style="color:#2980b9" %)**Gross Benefit  **(%%) This is the Rand Amount of the member’s benefit to be transferred, if its not 100% of the members benefit. Leave blank if  the full benefit is to be transferred
92 92  
93 -Tax Upload Group Set a tax group name, for example 22042020 (date of tax application)
108 +(% style="color:#2980b9" %)**Tax Upload Group**(%%)  Set a tax group name, for example 22042020 (date of tax application)
94 94  
95 -Effective Date This is the Section 14 Date.
110 +(% style="color:#2980b9" %)**Effective Date **(%%) This is the Section 14 Date.
96 96  
97 -Transfer Always set this to Y
112 +(% style="color:#2980b9" %)**Transfer **(%%) Always set this to Y
98 98  
99 -Transfer Fund Type This is the transfer fund type of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
114 +(% style="color:#2980b9" %)**Transfer Fund Type**(%%)  This is the transfer fund type of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
100 100  
101 -Transfer Fund Name This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
116 +(% style="color:#2980b9" %)**Transfer Fund Name**(%%)  This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
102 102  
103 -FSB Transfer Fund No This is the FSB number of the receiving fund and must match the System bank account screen exactly.
118 +(% style="color:#2980b9" %)**FSB Transfer Fund No **(%%) This is the FSB number of the receiving fund and must match the System bank account screen exactly.
104 104  
105 -Transfer Participating This is only required if the last 6 digits of the FSB
120 +(% style="color:#2980b9" %)**Transfer Participating Employer  **(%%) This is only required if the last 6 digits of the FSB Transfer number(% style="color:#2980b9" %)** **(%%)does not end in zeros (0)
106 106  
107 -Employer Transfer number does not end in zeros (0)
108 108  
109 109  Once the file has been updated, save the file for import into the system.
110 110  
111 -Select and generate the “**Import Unclaimed Benefits**” batch.
125 +Select and generate the (% style="color:#2980b9" %)“**Import Unclaimed Benefits**”(%%) batch.
112 112  
113 113  
114 -[[image:Section 14 Transfer Process_html_dc98d67779e486b2.gif||alt="Shape9"]] [[image:Section 14 Transfer Process_html_41e229bc4d6e5f9.png||height="355" width="596"]]
128 +(% style="text-align:center" %)
129 +[[image:1633327705654-665.png||data-xwiki-image-style-alignment="center"]]
115 115  
116 116  
117 -Client This is the Client for which the Section 14 is being processed.
132 +(% style="color:#2980b9" %)**Client  **(%%) This is the Client for which the Section 14 is being processed.
118 118  
119 -File Name Click on the “**Browse**” button and locate the saved file.
134 +(% style="color:#2980b9" %)**File Name**(%%)  Click on the (% style="color:#2980b9" %)“**Browse**” (%%)button and locate the saved file.
120 120  
121 -Batch Reference This is defaulted by the system.
136 +(% style="color:#2980b9" %)**Batch Reference**(%%)  This is defaulted by the system.
122 122  
123 -Client Parent This is the Parent that the client belongs to.
138 +(% style="color:#2980b9" %)**Client Parent **(%%) This is the Parent that the client belongs to.
124 124  
125 -Click on the “**Save**” and “**Execute**” button.
126 126  
141 +Click on the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**” (%%)button.
142 +
127 127  Two reports will generate. The first being confirmation of the fields that were required and what was supplied to generate the report.
128 128  
129 129  
130 -The second report will confirm if the import was successful or not. If the import was not successful, the errors will need to be rectified before the import is run again. The batch number of the successful import, as highlighted below, **must **be kept as it will be used later in the process.
146 +The second report will confirm if the import was successful or not. If the import was not successful, the errors will need to be rectified before the import is run again. The(% style="color:#e74c3c" %) batch ref number(%%) of the successful import, as highlighted below, (% style="color:#2980b9" %)**must**(%%)** **be kept as it will be used later in the process.
131 131  
132 132  
133 -[[image:Section 14 Transfer Process_html_3c44cb464ba230ec.gif||alt="Shape10"]]
149 +(% style="text-align:center" %)
150 +[[image:1633327962522-699.png||data-xwiki-image-style-alignment="center"]]
134 134  
135 -[[image:Section 14 Transfer Process_html_77654b27a44142c7.gif||alt="Shape15"]] [[image:Section 14 Transfer Process_html_31dc894b565ac890.gif||alt="Shape13"]] [[image:Section 14 Transfer Process_html_3738ae3fed0e23ba.gif||alt="Shape14"]] [[image:Section 14 Transfer Process_html_cbea286eac588052.gif||alt="Shape12"]] [[image:Section 14 Transfer Process_html_ae20d586e83cea70.gif||alt="Shape11"]] [[image:Section 14 Transfer Process_html_f9794f129d0f132d.png||height="263" width="589"]]
136 136  
137 -
138 -
139 139  The tax information will be populated with the transfer details contained in the file and under System Bank Accounts. The tax application will need to be submitted to SARS and a response is required before processing with payment.
140 140  
141 -The member records now appear in RED with an exit date and an exit type.
155 +The member records now appear in (% style="color:#e74c3c" %)RED(%%) with an exit date and an exit type.
142 142  
157 +(% style="text-align:center" %)
158 +[[image:1633328086509-533.png||data-xwiki-image-style-alignment="center"]]
143 143  
144 -[[image:Section 14 Transfer Process_html_a999f86cd16a1f7.gif||alt="Shape17"]] [[image:Section 14 Transfer Process_html_a999f86cd16a1f7.gif||alt="Shape16"]] [[image:Section 14 Transfer Process_html_6e379d9d97fe9faf.png||height="29" width="596"]]
160 +Once the tax response is received, the (% style="color:#2980b9" %)**“Import Unclaimed Benefits – Creditor Payment” **(%%)batch needs to be run.
145 145  
146 146  
163 +Insert the (% style="color:#e74c3c" %)Batch Number(%%) from your first import, that was done previously, into this Batch Ref field.
147 147  
148 -Once the tax response is received, the “Import Unclaimed Benefits – Creditor Payment” batch needs to be run.
165 +The Administrator Bank field is the name of the creditor being paid that has been set up under System Bank Accounts (Transfer Funds).
149 149  
150 -Insert the Batch Number from your first import, that was done previously, into this Batch Ref field.
151 151  
152 -The Administrator Bank field is the name of the creditor being paid that has been set up under System Bank Accounts (Transfer Funds).
168 +A report will generate confirming which benefits have been populated for payment.  Only benefits where tax has been received back will be populated.  The report will clearly highlight which members are ready for payment and which are not.
153 153  
154 -A report will generate confirming which benefits have been populated for payment. Only benefits where tax has been received back will be populated. The report will clearly highlight which members are ready for payment and which are not.
155 155  
171 +(% style="text-align:center" %)
172 +[[image:1633328312880-362.png||data-xwiki-image-style-alignment="center"]]
156 156  
157 -[[image:Section 14 Transfer Process_html_a8fc749ec192db6e.gif||alt="Shape25"]] [[image:Section 14 Transfer Process_html_dfade64b5ed09c55.gif||alt="Shape20"]] [[image:Section 14 Transfer Process_html_89671654314bcf74.gif||alt="Shape21"]] [[image:Section 14 Transfer Process_html_60105f24eeeba985.gif||alt="Shape22"]] [[image:Section 14 Transfer Process_html_f0277650d9cfff17.gif||alt="Shape24"]] [[image:Section 14 Transfer Process_html_c1173cfa9620e590.gif||alt="Shape18"]] [[image:Section 14 Transfer Process_html_acca890ac713bf79.gif||alt="Shape28"]] [[image:Section 14 Transfer Process_html_a5ef2601c5b72efd.gif||alt="Shape27"]] [[image:Section 14 Transfer Process_html_2a3fc378d55c1861.gif||alt="Shape26"]] [[image:Section 14 Transfer Process_html_ad0adb617a1f7835.gif||alt="Shape23"]] [[image:Section 14 Transfer Process_html_dfade64b5ed09c55.gif||alt="Shape19"]] [[image:Section 14 Transfer Process_html_5249ecf812b94fa3.png||height="211" width="571"]]
158 158  
175 +Click on the (% style="color:#2980b9" %)__**cflo**__(%%) button on the member record. A line would have been created for payment.
159 159  
160 -Click on the __**cflo**__ button on the member record. A line would have been created for payment.
161 161  
178 +(% style="text-align:center" %)
179 +[[image:1633328484167-380.png||data-xwiki-image-style-alignment="center"]]
162 162  
163 -[[image:Section 14 Transfer Process_html_177aa0d23e5492f5.gif||alt="Shape34"]] [[image:Section 14 Transfer Process_html_2e9f9f850619a51b.gif||alt="Shape33"]] [[image:Section 14 Transfer Process_html_177aa0d23e5492f5.gif||alt="Shape32"]] [[image:Section 14 Transfer Process_html_177aa0d23e5492f5.gif||alt="Shape31"]] [[image:Section 14 Transfer Process_html_177aa0d23e5492f5.gif||alt="Shape30"]] [[image:Section 14 Transfer Process_html_177aa0d23e5492f5.gif||alt="Shape29"]] [[image:Section 14 Transfer Process_html_732d6e4bdfdf6c4d.png||height="162" width="596"]]
164 164  
182 +The payment can now be made in Bulk at the Parent Level.
165 165  
166 -The payment can now be made in Bulk at the Parent Level. Go to Accounts > Debtors and Creditors Menu item. Select “**Creditors**”. A creditor payment reflects in the Creditor Payment.
184 +Go to (% style="color:#2980b9" %)Accounts > Debtors and Creditors Menu (%%)item.
167 167  
186 +Select (% style="color:#2980b9" %)“**Creditors**”(%%). A creditor payment reflects in the Creditor Payment.
168 168  
169 -[[image:Section 14 Transfer Process_html_490a447ca6d370f3.gif||alt="Shape35"]] [[image:Section 14 Transfer Process_html_53a634c37cdda971.png||height="118" width="318"]]
170 170  
189 +(% style="text-align:center" %)
190 +[[image:1633328582529-671.png||data-xwiki-image-style-alignment="center" height="189" width="466"]]
171 171  
172 -[[image:Section 14 Transfer Process_html_2541c1ea5f14a2ee.png||height="92" width="596"]]
173 173  
193 +(% style="text-align:center" %)
194 +[[image:1633328678458-232.png||data-xwiki-image-style-alignment="center"]]
174 174  
175 -Select __eft__ hyperlink and a batch editor screen will open to generate the Payment.
176 176  
197 +Select (% style="color:#2980b9" %)**__eft__ **(%%)hyperlink and a batch editor screen will open to generate the Payment.
177 177  
178 -[[image:Section 14 Transfer Process_html_6fb6bea9bace00ee.gif||alt="Shape36"]] [[image:Section 14 Transfer Process_html_bef0d58a1354411a.png||height="156" width="596"]]
199 + ​​​​
179 179  
201 +(% style="text-align:center" %)
202 +[[image:1633328773306-793.png||data-xwiki-image-style-alignment="center"]]
180 180  
204 +
181 181  The payment can be approved on the Payment Management screen as a bulk payment. The process has been completed and the necessary payment records have been created.
182 182  
183 183  
184 -Bulk Section 14 where the member is invested in a Unitised Fund
208 +(% style="break-before: page" %)
209 +== (% style="color:#2980b9" %)**Bulk Section 14 where the member is invested in a Unitised Fund**(%%) ==
185 185  
186 186  1. Generate a few Member Statements and ensure that all transactions have been completed and priced. Also ensure there are no Outstanding Contributions.
187 -1. Ensure that the banking details of the receiving Fund has been loaded in the Administration > Financial Settings > System Bank Accounts > Transfer Funds (Bank Account Type) screen. Should the user not have access to this screen ensure that some who does have access loads the banking details.
212 +1. Ensure that the banking details of the receiving Fund has been loaded in the (% style="color:#2980b9" %)Administration > Financial Settings > System Bank Accounts > Transfer Funds (Bank Account Type)(%%) screen. Should the user not have access to this screen ensure that some who does have access loads the banking details.
188 188  
189 -Ensure that the client has been selected. Go to the Accounts – Investment Switch Menu option and create the switch, moving 100% of the member’s Fund Credit into the bank account.
214 +Ensure that the client has been selected.
190 190  
216 +Go to the (% style="color:#2980b9" %)Accounts > Investment Switch Menu(%%) option and create the switch, moving 100% of the member’s Fund Credit into the bank account.
191 191  
192 -[[image:Section 14 Transfer Process_html_c9a8f5eb63e4ea98.gif||alt="Shape38"]] [[image:Section 14 Transfer Process_html_8dd7da9fee6333c0.gif||alt="Shape37"]] [[image:Section 14 Transfer Process_html_914ecb34dc025696.png||height="77" width="596"]]
193 193  
219 +(% style="text-align:center" %)
220 +[[image:1633328856464-285.png||data-xwiki-image-style-alignment="center"]]
194 194  
195 -The system has the option to import the member switch as well. Should only a select number of members be transferring out, the preferred option would be to complete the **“Investment Switches Import”** template and import the members for switching.
196 196  
223 +The system has the option to import the member switch as well. Should only a select number of members be transferring out, the preferred option would be to complete the (% style="color:#2980b9" %)**“Investment Switches Import”** (%%)template and import the members for switching.
197 197  
198 -[[image:Section 14 Transfer Process_html_cdc9ae73d6e83c03.png||height="90" width="596"]]
199 199  
226 +(% style="text-align:center" %)
227 +[[image:1633328913530-279.png||data-xwiki-image-style-alignment="center"]]
200 200  
201 -Please refer to the **Investment Switches** guide for the full process to be followed.
202 202  
230 +Please refer to the (% style="color:#2980b9" %)**Investment Switches**(%%) guide for the full process to be followed.
203 203  
204 -Once the switch has been generated (as per the Investment Switches guide), go to Accounts > Cashflow Unit Prices screen at a Parent level to obtain the number of units that must be disinvested from the market.
205 205  
233 +Once the switch has been generated (as per the Investment Switches guide), go to (% style="color:#2980b9" %)Accounts > Cashflow Unit Prices (%%)screen at a Parent level to obtain the number of units that must be disinvested from the market.
206 206  
207 -[[image:Section 14 Transfer Process_html_5db01f746f85e705.gif||alt="Shape39"]] [[image:Section 14 Transfer Process_html_6b3e5fe8042b37fa.png||height="56" width="596"]]
208 208  
236 +(% style="text-align:center" %)
237 +[[image:1633328986406-762.png||data-xwiki-image-style-alignment="center"]]
209 209  
210 210  Only once the disinvestment process has been finalised in full can the user continue with the process.
211 211  
212 212  
213 -Select and generate the “**Client Member Investment Product**” batch, once the disinvestment has been actioned and priced.
242 +(% style="break-before: page" %)
243 +Select and generate the(% style="color:#2980b9" %) “**Client Member Investment Product**”(%%) batch, once the disinvestment has been actioned and priced.
214 214  
215 -Effective Date: Today’s date.
245 +(% style="color:#2980b9" %)**Effective Date:**(%%) Today’s date.
216 216  
217 -Click on “**Save**” and “**Execute**”.
247 +Click on (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”.
218 218  
219 219  
220 -[[image:Section 14 Transfer Process_html_5a5c356aa4481b66.png||height="138" width="596"]]
250 +(% style="text-align:center" %)
251 +[[image:1633330252894-988.png||data-xwiki-image-style-alignment="center"]]
221 221  
253 +
222 222  A report will generate reflecting the member’s current Fund Credit.
223 223  
224 224  
225 -[[image:Section 14 Transfer Process_html_dd6bb0d4aadcc1e.gif||alt="Shape45"]] [[image:Section 14 Transfer Process_html_44a69186be2f911d.gif||alt="Shape44"]] [[image:Section 14 Transfer Process_html_795b2fe118f74f90.gif||alt="Shape43"]] [[image:Section 14 Transfer Process_html_54c95dec8ba71eb7.gif||alt="Shape42"]] [[image:Section 14 Transfer Process_html_54c95dec8ba71eb7.gif||alt="Shape41"]] [[image:Section 14 Transfer Process_html_54c95dec8ba71eb7.gif||alt="Shape40"]] [[image:Section 14 Transfer Process_html_3d86ffcc6981f295.png||height="227" width="596"]]
257 +(% style="text-align:center" %)
258 +[[image:1633330357571-100.png||data-xwiki-image-style-alignment="center"]]
226 226  
227 227  
261 +Using the (% style="color:#2980b9" %)**Import Unclaimed Benefit Template, **(%%)create a file for import.
228 228  
263 +This template will process the member’s exits in Bulk and write up the payment to be paid into the transferring Fund.
229 229  
230 -Using the **Import Unclaimed Benefit Template, **create a file for import. This template will process the member’s exits in Bulk and write up the payment to be paid into the transferring Fund.
265 +​​​​​​
231 231  
267 +(% style="text-align:center" %)
268 +[[image:1633327441733-379.png||data-xwiki-image-style-alignment="center"]]
232 232  
233 -[[image:Section 14 Transfer Process_html_b7c60dcb38cb3d0d.gif||alt="Shape49"]] [[image:Section 14 Transfer Process_html_b7c60dcb38cb3d0d.gif||alt="Shape48"]] [[image:Section 14 Transfer Process_html_89b2a307c6818d88.gif||alt="Shape47"]] [[image:Section 14 Transfer Process_html_89b2a307c6818d88.gif||alt="Shape46"]] [[image:Section 14 Transfer Process_html_edac83519c80620f.png||height="88" width="596"]]
234 -
235 -
270 +(% style="break-before: page" %)
236 236  Critical fields that must be considered are:
237 237  
238 238  
274 +(% style="color:#2980b9" %)**System Number  **(%%) This is the unique Everest generated number.
239 239  
240 -System Number This is the unique Everest generated number.
276 +(% style="color:#2980b9" %)**Exit Type **(%%) The Exit type is depicted as a number that must be copied from the Key to ensure that the correct exit type is used.
241 241  
242 -Exit Type The Exit type is depicted as a number that must be copied from the Key to ensure that the correct exit type is used.
278 +(% style="color:#2980b9" %)**ID Number  **(%%) Members Identity number.
243 243  
244 -ID Number Members Identity number.
280 +(% style="color:#2980b9" %)**Tax Ref No  **(%%) Members tax reference number.
245 245  
246 -Tax Ref No Members tax reference number.
282 +(% style="color:#2980b9" %)**DOX **(%%) Date of exit, this is the Section 14 date.
247 247  
248 -DOX Date of exit, this is the Section 14 date.
284 +(% style="color:#2980b9" %)**Gross Benefit **(%%) This is the Rand Amount of the member’s benefit to be transferred, if its not 100% of the members benefit. Leave blank if  the full benefit is to be transferred
249 249  
250 -Gross Benefit This is the Rand Amount of the member’s benefit to be transferred, if its not 100% of the members benefit. Leave blank if the full benefit is to be transferred
286 +(% style="color:#2980b9" %)**Tax Upload Group **(%%) Set a tax group name, for example 22042020 (date of tax application)
251 251  
252 -Tax Upload Group Set a tax group name, for example 22042020 (date of tax application)
288 +(% style="color:#2980b9" %)**Effective Date   **(%%) This is the Section 14 Date.
253 253  
254 -Effective Date This is the Section 14 Date.
290 +(% style="color:#2980b9" %)**Transfer        **(%%) Always set this to Y
255 255  
256 -Transfer Always set this to Y
292 +(% style="color:#2980b9" %)**Transfer Fund Type **(%%) This is the transfer fund type of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
257 257  
258 -Transfer Fund Type This is the transfer fund type of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
294 +(% style="color:#2980b9" %)**Transfer Fund Name**(%%)  This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
259 259  
260 -Transfer Fund Name This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
296 +(% style="color:#2980b9" %)**FSB Transfer Fund No**(%%)  This is the FSB number of the receiving fund and must match the System bank account screen exactly.
261 261  
262 -FSB Transfer Fund No This is the FSB number of the receiving fund and must match the System bank account screen exactly.
298 +(% style="color:#2980b9" %)**Transfer Participating Employer  **(%%) This is only required if the last 6 digits of the FSB Transfer number(% style="color:#2980b9" %)** **(%%)does not end in zeros (0)
263 263  
264 -Transfer Participating This is only required if the last 6 digits of the FSB Transfer number
265 265  
266 -Employer does not end in zeros (0)
267 -
268 -
269 269  Once the file has been updated, save the file for import into the system.
270 270  
271 -Select and generate the “**Import Unclaimed Benefits**” batch.
303 +(% style="break-before: page" %)
304 +Select and generate the (% style="color:#2980b9" %)“**Import Unclaimed Benefits**”(%%) batch.
272 272  
273 273  
274 -[[image:Section 14 Transfer Process_html_31273b549dc2bb7f.gif||alt="Shape50"]] [[image:Section 14 Transfer Process_html_41e229bc4d6e5f9.png||height="355" width="596"]]
307 +(% style="text-align:center" %)
308 +[[image:1633327705654-665.png||data-xwiki-image-style-alignment="center"]]
275 275  
276 276  
277 -Client This is the Client for which the Section 14 is being processed.
311 +(% style="color:#2980b9" %)**Client  **(%%) This is the Client for which the Section 14 is being processed.
278 278  
279 -File Name Click on the “**Browse**” button and locate the saved file.
313 +(% style="color:#2980b9" %)**File Name**(%%)  Click on the (% style="color:#2980b9" %)“**Browse**” (%%)button and locate the saved file.
280 280  
281 -Batch Reference This is defaulted by the system.
315 +(% style="color:#2980b9" %)**Batch Reference**(%%)  This is defaulted by the system.
282 282  
283 -Client Parent This is the Parent that the client belongs to.
317 +(% style="color:#2980b9" %)**Client Parent **(%%) This is the Parent that the client belongs to.
284 284  
285 -Click on the “**Save**” and “**Execute**” button.
286 286  
320 +Click on the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”(%%) button.
321 +
287 287  Two reports will generate. The first being confirmation of the fields that were required and what was supplied to generate the report.
288 288  
289 289  
325 +The second report will confirm if the import was successful or not. If the import was not successful, the errors will need to be rectified before the import is run again. The (% style="color:#e74c3c" %)Batch Ref number(%%) of the successful import, as highlighted below, (% style="color:#2980b9" %)**must**(%%) be kept as it will be used later in the process.
290 290  
291 -The second report will confirm if the import was successful or not. If the import was not successful, the errors will need to be rectified before the import is run again. The batch number of the successful import, as highlighted below, **must** be kept as it will be used later in the process.
292 292  
328 +(% style="text-align:center" %)
329 +[[image:1633327962522-699.png||data-xwiki-image-style-alignment="center"]]
293 293  
294 -[[image:Section 14 Transfer Process_html_7c90677e5d7d8644.gif||alt="Shape51"]]
295 295  
296 -[[image:Section 14 Transfer Process_html_72d505212098e4a4.gif||alt="Shape56"]] [[image:Section 14 Transfer Process_html_72d505212098e4a4.gif||alt="Shape55"]] [[image:Section 14 Transfer Process_html_7b5731133d009589.gif||alt="Shape54"]] [[image:Section 14 Transfer Process_html_f70533c7086bc698.gif||alt="Shape53"]] [[image:Section 14 Transfer Process_html_65c2790631bf45f.gif||alt="Shape52"]] [[image:Section 14 Transfer Process_html_f9794f129d0f132d.png||height="263" width="589"]]
297 -
298 -
299 -
300 300  The tax information will be populated along with the transfer details contained in the file and under System Bank Accounts. The tax application will need to be submitted to SARS and a response is required before processing with payment.
301 301  
302 -The member records now appear in RED with an exit date and an exit type.
334 +The member records now appear in(% style="color:#e74c3c" %) RED(%%) with an exit date and an exit type.
303 303  
304 304  
305 -[[image:Section 14 Transfer Process_html_f70533c7086bc698.gif||alt="Shape57"]] [[image:Section 14 Transfer Process_html_6e379d9d97fe9faf.png||height="29" width="596"]]
337 +(% style="text-align:center" %)
338 +[[image:1633328086509-533.png||data-xwiki-image-style-alignment="center"]]
306 306  
307 307  
308 -Once the tax response is received, the “**Import Unclaimed Benefits – Creditor Payment**” batch needs to be run.
341 +Once the tax response is received, the (% style="color:#2980b9" %)“**Import Unclaimed Benefits – Creditor Payment**”(%%) batch needs to be run.
309 309  
343 +
310 310  Insert the Batch Number from your import, that was done previously, into this Batch Ref field.
311 311  
312 312  The Administrator Bank field is the name of the creditor being paid that has been set up under System Bank Accounts (Transfer Funds).
313 313  
314 -A report will generate confirming which benefits have been populated for payment. Only benefits where tax has been received back will be populated. The report will clearly highlight which members are ready for payment and which are not.
315 315  
316 -Click on the __cflo__ button on the member record. A line would have been created for payment.
349 +A report will generate confirming which benefits have been populated for payment.  Only benefits where tax has been received back will be populated.  The report will clearly highlight which members are ready for payment and which are not.
317 317  
318 318  
319 -[[image:Section 14 Transfer Process_html_2a9cb94c0f4c405d.gif||alt="Shape63"]] [[image:Section 14 Transfer Process_html_2a9cb94c0f4c405d.gif||alt="Shape62"]] [[image:Section 14 Transfer Process_html_2a9cb94c0f4c405d.gif||alt="Shape61"]] [[image:Section 14 Transfer Process_html_2a9cb94c0f4c405d.gif||alt="Shape60"]] [[image:Section 14 Transfer Process_html_2a9cb94c0f4c405d.gif||alt="Shape58"]] [[image:Section 14 Transfer Process_html_2a9cb94c0f4c405d.gif||alt="Shape59"]] [[image:Section 14 Transfer Process_html_732d6e4bdfdf6c4d.png||height="162" width="596"]]
352 +Click on the (% style="color:#2980b9" %)cflo (%%)button on the member record. A line would have been created for payment.
320 320  
321 321  
322 -The payment can now be made in Bulk at the Parent Level. Go to Accounts > Debtors and Creditors Menu item. Select “Creditors”. A creditor payment reflects in the Creditor Payment.
355 +(% style="text-align:center" %)
356 +[[image:1633328484167-380.png||data-xwiki-image-style-alignment="center"]]
323 323  
324 324  
325 -[[image:Section 14 Transfer Process_html_fdf87a27103cb999.gif||alt="Shape64"]] [[image:Section 14 Transfer Process_html_53a634c37cdda971.png||height="118" width="318"]]
359 +The payment can now be made in Bulk at the Parent Level.
326 326  
327 -[[image:Section 14 Transfer Process_html_2541c1ea5f14a2ee.png||height="92" width="596"]]
361 +Go to (% style="color:#2980b9" %)Accounts > Debtors and Creditors(%%) Menu item. Select (% style="color:#2980b9" %)**“Creditors”.**
328 328  
363 +A creditor payment reflects in the Creditor Payment.
329 329  
330 330  
331 -Select __eft__ hyperlink and a batch editor screen will open to generate the Payment.
366 +(% style="text-align:center" %)
367 +[[image:1633328582529-671.png||data-xwiki-image-style-alignment="center" height="189" width="466"]]
332 332  
333 333  
334 -[[image:Section 14 Transfer Process_html_f7922830ceb22f0e.gif||alt="Shape65"]] [[image:Section 14 Transfer Process_html_bef0d58a1354411a.png||height="156" width="596"]]
370 +(% style="text-align:center" %)
371 +[[image:1633328678458-232.png||data-xwiki-image-style-alignment="center"]]
335 335  
336 336  
374 +Select (% style="color:#2980b9" %)**__eft__ **(%%)hyperlink and a batch editor screen will open to generate the Payment.
375 +
376 +
377 +(% style="text-align:center" %)
378 +[[image:1633328773306-793.png||data-xwiki-image-style-alignment="center"]]
379 +
380 +
337 337  The payment can be approved on the Payment Management screen as a bulk payment. The process has been completed and the necessary payment records have been created.
338 338  
339 339  
340 340  
341 341  
342 -(% style="text-align: center;" %)
343 -== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
386 +(% style="break-before: page; text-align: center;" %)
387 += (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) =
344 344  
345 345  
346 346  
... ... @@ -361,6 +361,7 @@
361 361  
362 362  This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.
363 363  
408 +
364 364  EBSphere (Pty) Limited
365 365  
366 366  P.O. Box 785803
... ... @@ -372,4 +372,4 @@
372 372  
373 373  
374 374  (% style="text-align:center" %)
375 -[[image:Section 14 Transfer Process_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
420 +[[image:Section 14 Transfer Process_html_8cba33b1e8c9fa24.gif||data-xwiki-image-style-alignment="center" height="128" width="463"]]
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