Changes for page Section 14 transfer

Last modified by Megan Kahl on 2022/08/03 09:03
<
From version < 71.1 >
edited by Megan Kahl
on 2021/10/04 06:04
To version < 101.1
edited by Megan Kahl
on 2022/08/03 09:03
Change comment: There is no comment for this version

Summary

Details

Page properties
Content
... ... @@ -1,5 +1,5 @@
1 -(% style="text-align: center;" %)
2 -= (% style="color:#2980b9; 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  
... ... @@ -11,10 +11,10 @@
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 16  {{info}}
17 -(% style="text-align: center;" %)
17 +(% style="break-before: page; text-align: center;" %)
18 18  (% style="color:#2980b9; font-size:20px" %)**TABLE OF CONTENTS**
19 19  
20 20  
... ... @@ -25,8 +25,8 @@
25 25  
26 26  
27 27  
28 -(% style="text-align: center;" %)
29 -== (% style="color:#2980b9" %)**Introduction**(%%) ==
28 +(% style="break-before: page; text-align: center;" %)
29 += (% style="color:#2980b9" %)**Introduction**(%%) =
30 30  
31 31  
32 32  
... ... @@ -40,318 +40,351 @@
40 40  
41 41  
42 42  
43 -(% style="text-align: center;" %)
44 -== (% 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**(%%) =
45 45  
46 46  
47 47  
48 -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**(%%) ==
49 49  
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.
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.
51 51  
52 -Section 14 where the member is invested in a Unitized Fund
53 53  
54 -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**(%%) ==
55 55  
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.
56 56  
57 57  
58 -(% style="text-align: center;" %)
59 -== (% style="color:#2980b9" %)**Bulk Section 14 Process**(%%) ==
60 60  
59 +(% style="break-before: page; text-align: center;" %)
60 += (% style="color:#2980b9" %)**Bulk Section 14 Process**(%%) =
61 61  
62 62  
63 -Bulk Section 14 where the member is invested in a Managed Fund
64 64  
64 +== (% style="color:#2980b9" %)**Bulk Section 14 where the member is invested in a Managed Fund**(%%) ==
65 +
65 65  * Generate a few Member Statements and ensure that all transactions have been completed and priced. Check that there are no Outstanding Contributions.
66 -* 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.
67 67  
68 -Select and generate the “**Client Member Investment Product”** batch.
69 +Select and generate the(% style="color:#2980b9" %) “**Client Member Investment Product”** (%%)batch.
69 69  
70 -Effective Date: Today’s date.
71 +(% style="color:#2980b9" %)**Effective Date:**(%%)** **Today’s date.
71 71  
72 -Click on “**Save**” and “**Execute**”.
73 +Click on (% style="color:#2980b9" %)“**Save**” (%%)and (% style="color:#2980b9" %)“**Execute**”.
73 73  
74 74  
75 -[[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"]]
76 76  
77 -
79 +(% style="break-before: page" %)
78 78  A report will generate reflecting the member’s current Fund Credit.
79 79  
80 80  
81 -[[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"]]
82 82  
83 83  
84 -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.
85 85  
86 86  
87 -[[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"]]
88 88  
89 89  
90 90  Critical fields that must be considered are:
91 91  
92 -System Number This is the unique Everest generated number.
96 +(% style="color:#2980b9" %)**System Number  **(%%) This is the unique Everest generated number.
93 93  
94 -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.
95 95  
96 -ID Number Member’s Identity number.
100 +(% style="color:#2980b9" %)**ID Number**(%%)  Member’s Identity number.
97 97  
98 -Tax Ref No Member’s tax reference number.
102 +(% style="color:#2980b9" %)**Tax Ref No**(%%)  Member’s tax reference number.
99 99  
100 -DOX Date of exit, this is the Section 14 date.
104 +(% style="color:#2980b9" %)**DOX  **(%%) Date of exit, this is the Section 14 date.
101 101  
102 -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
103 103  
104 -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)
105 105  
106 -Effective Date This is the Section 14 Date.
110 +(% style="color:#2980b9" %)**Effective Date **(%%) This is the Section 14 Date.
107 107  
108 -Transfer Always set this to Y
112 +(% style="color:#2980b9" %)**Transfer **(%%) Always set this to Y
109 109  
110 -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.
111 111  
112 -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.
113 113  
114 -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.
115 115  
116 -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)
117 117  
118 -Employer Transfer number does not end in zeros (0)
119 119  
120 120  Once the file has been updated, save the file for import into the system.
121 121  
122 -Select and generate the “**Import Unclaimed Benefits**” batch.
125 +Select and generate the (% style="color:#2980b9" %)“**Import Unclaimed Benefits**”(%%) batch.
123 123  
124 124  
125 -[[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"]]
126 126  
127 127  
128 -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.
129 129  
130 -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.
131 131  
132 -Batch Reference This is defaulted by the system.
136 +(% style="color:#2980b9" %)**Batch Reference**(%%)  This is defaulted by the system.
133 133  
134 -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.
135 135  
136 -Click on the “**Save**” and “**Execute**” button.
137 137  
141 +Click on the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**” (%%)button.
142 +
138 138  Two reports will generate. The first being confirmation of the fields that were required and what was supplied to generate the report.
139 139  
140 140  
141 -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.
142 142  
143 143  
144 -[[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"]]
145 145  
146 -[[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"]]
147 147  
148 -
149 -
150 150  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.
151 151  
152 -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.
153 153  
157 +(% style="text-align:center" %)
158 +[[image:1633328086509-533.png||data-xwiki-image-style-alignment="center"]]
154 154  
155 -[[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.
156 156  
157 157  
163 +Insert the (% style="color:#e74c3c" %)Batch Number(%%) from your first import, that was done previously, into this Batch Ref field.
158 158  
159 -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).
160 160  
161 -Insert the Batch Number from your first import, that was done previously, into this Batch Ref field.
162 162  
163 -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.
164 164  
165 -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.
166 166  
171 +(% style="text-align:center" %)
172 +[[image:1633328312880-362.png||data-xwiki-image-style-alignment="center"]]
167 167  
168 -[[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"]]
169 169  
175 +Click on the (% style="color:#2980b9" %)__**cflo**__(%%) button on the member record. A line would have been created for payment.
170 170  
171 -Click on the __**cflo**__ button on the member record. A line would have been created for payment.
172 172  
178 +(% style="text-align:center" %)
179 +[[image:1633328484167-380.png||data-xwiki-image-style-alignment="center"]]
173 173  
174 -[[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"]]
175 175  
182 +The payment can now be made in Bulk at the Parent Level.
176 176  
177 -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.
178 178  
186 +Select (% style="color:#2980b9" %)“**Creditors**”(%%). A creditor payment reflects in the Creditor Payment.
179 179  
180 -[[image:Section 14 Transfer Process_html_490a447ca6d370f3.gif||alt="Shape35"]] [[image:Section 14 Transfer Process_html_53a634c37cdda971.png||height="118" width="318"]]
181 181  
189 +(% style="text-align:center" %)
190 +[[image:1633328582529-671.png||data-xwiki-image-style-alignment="center" height="189" width="466"]]
182 182  
183 -[[image:Section 14 Transfer Process_html_2541c1ea5f14a2ee.png||height="92" width="596"]]
184 184  
193 +(% style="text-align:center" %)
194 +[[image:1633328678458-232.png||data-xwiki-image-style-alignment="center"]]
185 185  
186 -Select __eft__ hyperlink and a batch editor screen will open to generate the Payment.
187 187  
197 +Select (% style="color:#2980b9" %)**__eft__ **(%%)hyperlink and a batch editor screen will open to generate the Payment.
188 188  
189 -[[image:Section 14 Transfer Process_html_6fb6bea9bace00ee.gif||alt="Shape36"]] [[image:Section 14 Transfer Process_html_bef0d58a1354411a.png||height="156" width="596"]]
199 + ​​​​
190 190  
201 +(% style="text-align:center" %)
202 +[[image:1633328773306-793.png||data-xwiki-image-style-alignment="center"]]
191 191  
204 +
192 192  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.
193 193  
194 194  
195 -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**(%%) ==
196 196  
197 197  1. Generate a few Member Statements and ensure that all transactions have been completed and priced. Also ensure there are no Outstanding Contributions.
198 -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.
199 199  
200 -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.
201 201  
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.
202 202  
203 -[[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"]]
204 204  
219 +(% style="text-align:center" %)
220 +[[image:1633328856464-285.png||data-xwiki-image-style-alignment="center"]]
205 205  
206 -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.
207 207  
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.
208 208  
209 -[[image:Section 14 Transfer Process_html_cdc9ae73d6e83c03.png||height="90" width="596"]]
210 210  
226 +(% style="text-align:center" %)
227 +[[image:1633328913530-279.png||data-xwiki-image-style-alignment="center"]]
211 211  
212 -Please refer to the **Investment Switches** guide for the full process to be followed.
213 213  
230 +Please refer to the (% style="color:#2980b9" %)**Investment Switches**(%%) guide for the full process to be followed.
214 214  
215 -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.
216 216  
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.
217 217  
218 -[[image:Section 14 Transfer Process_html_5db01f746f85e705.gif||alt="Shape39"]] [[image:Section 14 Transfer Process_html_6b3e5fe8042b37fa.png||height="56" width="596"]]
219 219  
236 +(% style="text-align:center" %)
237 +[[image:1633328986406-762.png||data-xwiki-image-style-alignment="center"]]
220 220  
221 221  Only once the disinvestment process has been finalised in full can the user continue with the process.
222 222  
223 223  
224 -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.
225 225  
226 -Effective Date: Today’s date.
245 +(% style="color:#2980b9" %)**Effective Date:**(%%) Today’s date.
227 227  
228 -Click on “**Save**” and “**Execute**”.
247 +Click on (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”.
229 229  
230 230  
231 -[[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"]]
232 232  
253 +
233 233  A report will generate reflecting the member’s current Fund Credit.
234 234  
235 235  
236 -[[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"]]
237 237  
238 238  
261 +Using the (% style="color:#2980b9" %)**Import Unclaimed Benefit Template, **(%%)create a file for import.
239 239  
263 +This template will process the member’s exits in Bulk and write up the payment to be paid into the transferring Fund.
240 240  
241 -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 +​​​​​​
242 242  
267 +(% style="text-align:center" %)
268 +[[image:1633327441733-379.png||data-xwiki-image-style-alignment="center"]]
243 243  
244 -[[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"]]
245 -
246 -
270 +(% style="break-before: page" %)
247 247  Critical fields that must be considered are:
248 248  
249 249  
274 +(% style="color:#2980b9" %)**System Number  **(%%) This is the unique Everest generated number.
250 250  
251 -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.
252 252  
253 -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.
254 254  
255 -ID Number Members Identity number.
280 +(% style="color:#2980b9" %)**Tax Ref No  **(%%) Members tax reference number.
256 256  
257 -Tax Ref No Members tax reference number.
282 +(% style="color:#2980b9" %)**DOX **(%%) Date of exit, this is the Section 14 date.
258 258  
259 -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
260 260  
261 -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)
262 262  
263 -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.
264 264  
265 -Effective Date This is the Section 14 Date.
290 +(% style="color:#2980b9" %)**Transfer        **(%%) Always set this to Y
266 266  
267 -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.
268 268  
269 -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.
270 270  
271 -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.
272 272  
273 -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)
274 274  
275 -Transfer Participating This is only required if the last 6 digits of the FSB Transfer number
276 276  
277 -Employer does not end in zeros (0)
278 -
279 -
280 280  Once the file has been updated, save the file for import into the system.
281 281  
282 -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.
283 283  
284 284  
285 -[[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"]]
286 286  
287 287  
288 -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.
289 289  
290 -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.
291 291  
292 -Batch Reference This is defaulted by the system.
315 +(% style="color:#2980b9" %)**Batch Reference**(%%)  This is defaulted by the system.
293 293  
294 -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.
295 295  
296 -Click on the “**Save**” and “**Execute**” button.
297 297  
320 +Click on the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”(%%) button.
321 +
298 298  Two reports will generate. The first being confirmation of the fields that were required and what was supplied to generate the report.
299 299  
300 300  
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.
301 301  
302 -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.
303 303  
328 +(% style="text-align:center" %)
329 +[[image:1633327962522-699.png||data-xwiki-image-style-alignment="center"]]
304 304  
305 -[[image:Section 14 Transfer Process_html_7c90677e5d7d8644.gif||alt="Shape51"]]
306 306  
307 -[[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"]]
308 -
309 -
310 -
311 311  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.
312 312  
313 -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.
314 314  
315 315  
316 -[[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"]]
317 317  
318 318  
319 -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.
320 320  
343 +
321 321  Insert the Batch Number from your import, that was done previously, into this Batch Ref field.
322 322  
323 323  The Administrator Bank field is the name of the creditor being paid that has been set up under System Bank Accounts (Transfer Funds).
324 324  
325 -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.
326 326  
327 -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.
328 328  
329 329  
330 -[[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.
331 331  
332 332  
333 -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"]]
334 334  
335 335  
336 -[[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.
337 337  
338 -[[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”.**
339 339  
363 +A creditor payment reflects in the Creditor Payment.
340 340  
341 341  
342 -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"]]
343 343  
344 344  
345 -[[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"]]
346 346  
347 347  
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 +
348 348  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.
349 349  
350 350  
351 351  
352 352  
353 -(% style="text-align: center;" %)
354 -== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
386 +(% style="break-before: page; text-align: center;" %)
387 += (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) =
355 355  
356 356  
357 357  
... ... @@ -372,6 +372,7 @@
372 372  
373 373  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.
374 374  
408 +
375 375  EBSphere (Pty) Limited
376 376  
377 377  P.O. Box 785803
... ... @@ -383,4 +383,4 @@
383 383  
384 384  
385 385  (% style="text-align:center" %)
386 -[[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"]]
1633327705654-665.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +57.6 KB
Content
1633327962522-699.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +72.2 KB
Content
1633328086509-533.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +33.0 KB
Content
1633328312880-362.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +63.2 KB
Content
1633328465931-621.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +94.6 KB
Content
1633328484167-380.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +93.1 KB
Content
1633328582529-671.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +40.0 KB
Content
1633328678458-232.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +31.3 KB
Content
1633328773306-793.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +65.1 KB
Content
1633328856464-285.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +48.7 KB
Content
1633328913530-279.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +35.0 KB
Content
1633328986406-762.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +69.0 KB
Content
1633330252894-988.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +45.5 KB
Content
1633330357571-100.png
Author
... ... @@ -1,0 +1,1 @@
1 +XWiki.megank
Size
... ... @@ -1,0 +1,1 @@
1 +121.7 KB
Content

Applications

Navigation

Need help?

If you need help with XWiki you can contact: