Changes for page Section 14 transfer

Last modified by Megan Kahl on 2022/08/03 09:03
<
From version < 95.1 >
edited by Dominique Tricerri
on 2021/12/01 13:42
To version < 67.1 >
edited by Megan Kahl
on 2021/10/01 12:24
>
Change comment: There is no comment for this version

Summary

Details

Page properties
Author
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1 -XWiki.dominiquet
1 +XWiki.megank
Content
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1 -(% class="wikigeneratedid" id="HSECTION14TRANSFERPROCESS" style="text-align: center;" %)
2 -(% style="color:#2980b9; font-size:28px" %)**SECTION 14 TRANSFER PROCESS **
1 +(% style="text-align: center;" %)
2 += (% style="color:#2980b9; font-size:28px" %)**Section 14 Transfer Process**(%%) =
3 3  
4 4  
5 5  
... ... @@ -14,7 +14,7 @@
14 14  [[image:Section 14 Transfer Process_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
15 15  
16 16  {{info}}
17 -(% style="break-before: page; text-align: center;" %)
17 +(% style="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="break-before: page; text-align: center;" %)
29 -= (% style="color:#2980b9" %)**Introduction**(%%) =
28 +(% style="text-align: center;" %)
29 +== (% style="color:#2980b9" %)**Introduction**(%%) ==
30 30  
31 31  
32 32  
... ... @@ -40,135 +40,125 @@
40 40  
41 41  
42 42  
43 -(% style="break-before: page; text-align: center;" %)
44 -= (% style="color:#2980b9" %)**Section 14 Process for an Individual Member**(%%) =
43 +(% style="text-align: center;" %)
44 +== (% style="color:#2980b9" %)**Section 14 Process for an Individual Member**(%%) ==
45 45  
46 46  
47 47  
48 -== (% style="color:#2980b9" %)**Section 14 where the member is invested in a Managed Fund**(%%) ==
48 +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. Ensure the workflow is completed so that all relevant accounts are updated.
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
52 52  
53 -== (% style="color:#2980b9" %)**Section 14 where the member is invested in a Unitized Fund**(%%) ==
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.
54 54  
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. Ensure the workflow is completed so that all relevant accounts are updated.
56 56  
57 57  
58 +(% style="text-align: center;" %)
59 +== (% style="color:#2980b9" %)**Bulk Section 14 Process**(%%) ==
58 58  
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
63 63  
64 -== (% style="color:#2980b9" %)**Bulk Section 14 where the member is invested in a Managed Fund**(%%) ==
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.
65 65  
66 -* Generate a few Member Statements and ensure that all transactions have been completed and priced.
67 -* Check that there are no Outstanding Contributions.
68 -* 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 someone who does have access loads the banking details before commencing the process.
68 +Select and generate the “**Client Member Investment Product”** batch.
69 69  
70 -Select and generate the(% style="color:#2980b9" %) “**Client Member Investment Product”** (%%)batch.
70 +Effective Date: Today’s date.
71 71  
72 -(% style="color:#2980b9" %)**Effective Date:**(%%)** **Today’s date.
72 +Click on “**Save**” and “**Execute**”.
73 73  
74 -Click on (% style="color:#2980b9" %)“**Save**” (%%)and (% style="color:#2980b9" %)“**Execute**”.
75 75  
75 +[[image:Section 14 Transfer Process_html_c72b9ed75dcebe90.png||height="375" width="596"]]
76 76  
77 -(% style="text-align:center" %)
78 -[[image:1633327074202-714.png]]
79 79  
80 -
81 81  A report will generate reflecting the member’s current Fund Credit.
82 82  
83 83  
84 -(% style="text-align:center" %)
85 -[[image:1633327282743-140.png]]
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"]]
86 86  
87 87  
88 -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.
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.
89 89  
90 90  
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"]]
91 91  
92 -(% style="text-align:center" %)
93 -[[image:1633327441733-379.png]]
94 94  
95 -
96 96  Critical fields that must be considered are:
97 97  
92 +System Number This is the unique Everest generated number.
98 98  
99 -(% style="color:#2980b9" %)**System Number**(%%) This is the unique Everest generated number.
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.
100 100  
101 -(% 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.
96 +ID Number Member’s Identity number.
102 102  
103 -(% style="color:#2980b9" %)**ID Number **(%%)Member’s Identity number.
98 +Tax Ref No Member’s tax reference number.
104 104  
105 -(% style="color:#2980b9" %)**Tax Ref No**(%%) Member’s tax reference number.
100 +DOX Date of exit, this is the Section 14 date.
106 106  
107 -(% style="color:#2980b9" %)**DOX **(%%)Date of exit, this is the Section 14 date.
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
108 108  
109 -(% 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
104 +Tax Upload Group Set a tax group name, for example 22042020 (date of tax application)
110 110  
111 -(% style="color:#2980b9" %)**Tax Upload Group **(%%)Set a tax group name, for example 22042020 (date of tax application)
106 +Effective Date This is the Section 14 Date.
112 112  
113 -(% style="color:#2980b9" %)**Effective Date**(%%) This is the Section 14 Date.
108 +Transfer Always set this to Y
114 114  
115 -(% style="color:#2980b9" %)**Transfer**(%%) Always set this to Y
110 +Transfer Fund Type This is the transfer fund type of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
116 116  
117 -(% 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.
112 +Transfer Fund Name This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
118 118  
119 -(% style="color:#2980b9" %)**Transfer Fund Name**(%%) This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
114 +FSB Transfer Fund No This is the FSB number of the receiving fund and must match the System bank account screen exactly.
120 120  
121 -(% 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.
116 +Transfer Participating This is only required if the last 6 digits of the FSB
122 122  
123 -(% style="color:#2980b9" %)**Transfer Participating**(%%) This is only required if the last 6 digits of the FSB
118 +Employer Transfer number does not end in zeros (0)
124 124  
125 -(% style="color:#2980b9" %)**Employer**(%%) Transfer number does not end in zeros (0)
126 -
127 -
128 128  Once the file has been updated, save the file for import into the system.
129 129  
130 -Select and generate the (% style="color:#2980b9" %)“**Import Unclaimed Benefits**”(%%) batch.
122 +Select and generate the “**Import Unclaimed Benefits**” batch.
131 131  
132 132  
133 -(% style="text-align:center" %)
134 -[[image:1633327705654-665.png]]
125 +[[image:Section 14 Transfer Process_html_dc98d67779e486b2.gif||alt="Shape9"]] [[image:Section 14 Transfer Process_html_41e229bc4d6e5f9.png||height="355" width="596"]]
135 135  
136 136  
137 -(% style="color:#2980b9" %)**Client **(%%)This is the Client for which the Section 14 is being processed.
128 +Client This is the Client for which the Section 14 is being processed.
138 138  
139 -(% style="color:#2980b9" %)**File Name**(%%) Click on the (% style="color:#2980b9" %)“**Browse**”(%%) button and locate the saved file.
130 +File Name Click on the “**Browse**” button and locate the saved file.
140 140  
141 -(% style="color:#2980b9" %)**Batch Reference**(%%) This is defaulted by the system.
132 +Batch Reference This is defaulted by the system.
142 142  
143 -(% style="color:#2980b9" %)**Client Parent **(%%)This is the Parent that the client belongs to.
134 +Client Parent This is the Parent that the client belongs to.
144 144  
136 +Click on the “**Save**” and “**Execute**” button.
145 145  
146 -Click on the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**” (%%)button.
147 -
148 148  Two reports will generate. The first being confirmation of the fields that were required and what was supplied to generate the report.
149 149  
150 150  
151 -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.
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.
152 152  
153 153  
144 +[[image:Section 14 Transfer Process_html_3c44cb464ba230ec.gif||alt="Shape10"]]
154 154  
155 -(% style="text-align:center" %)
156 -[[image:1633327962522-699.png]]
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"]]
157 157  
158 158  
159 159  
160 160  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.
161 161  
162 -The member records now appear in (% style="color:#e74c3c" %)RED(%%) with an exit date and an exit type.
152 +The member records now appear in RED with an exit date and an exit type.
163 163  
164 164  
165 -(% style="text-align:center" %)
166 -[[image:1633328086509-533.png]]
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"]]
167 167  
168 168  
158 +
169 169  Once the tax response is received, the “Import Unclaimed Benefits – Creditor Payment” batch needs to be run.
170 170  
171 -Insert the (% style="color:#e74c3c" %)Batch Ref Number (%%)from your first import, that was done previously, into this Batch Ref field.
161 +Insert the Batch Number from your first import, that was done previously, into this Batch Ref field.
172 172  
173 173  The Administrator Bank field is the name of the creditor being paid that has been set up under System Bank Accounts (Transfer Funds).
174 174  
... ... @@ -175,235 +175,193 @@
175 175  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.
176 176  
177 177  
178 -(% style="text-align:center" %)
179 -[[image:1633328312880-362.png]]
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"]]
180 180  
181 181  
182 -Click on the (% style="color:#2980b9" %)__**cflo**__(%%) button on the member record. A line would have been created for payment.
171 +Click on the __**cflo**__ button on the member record. A line would have been created for payment.
183 183  
184 184  
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"]]
185 185  
186 -(% style="text-align:center" %)
187 -[[image:1633328484167-380.png]]
188 188  
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.
189 189  
190 -The payment can now be made in Bulk at the Parent Level.
191 191  
192 -Go to (% style="color:#2980b9" %)Accounts > Debtors and Creditors Menu (%%)item.
180 +[[image:Section 14 Transfer Process_html_490a447ca6d370f3.gif||alt="Shape35"]] [[image:Section 14 Transfer Process_html_53a634c37cdda971.png||height="118" width="318"]]
193 193  
194 -Select (% style="color:#2980b9" %)“**Creditors**”(%%). A creditor payment reflects in the Creditor Payment.
195 195  
183 +[[image:Section 14 Transfer Process_html_2541c1ea5f14a2ee.png||height="92" width="596"]]
196 196  
197 197  
198 -(% style="text-align:center" %)
199 -[[image:1633328582529-671.png||height="189" width="466"]]
186 +Select __eft__ hyperlink and a batch editor screen will open to generate the Payment.
200 200  
201 201  
202 -(% style="text-align:center" %)
203 -[[image:1633328678458-232.png]]
189 +[[image:Section 14 Transfer Process_html_6fb6bea9bace00ee.gif||alt="Shape36"]] [[image:Section 14 Transfer Process_html_bef0d58a1354411a.png||height="156" width="596"]]
204 204  
205 205  
206 -Select (% style="color:#2980b9" %)**__eft__ **(%%)hyperlink and a batch editor screen will open to generate the Payment.
207 -
208 - ​​​​
209 -
210 -(% style="text-align:center" %)
211 -[[image:1633328773306-793.png]]
212 -
213 -
214 214  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.
215 215  
216 216  
217 -== (% style="color:#2980b9" %)**Bulk Section 14 where the member is invested in a Unitised Fund**(%%) ==
195 +Bulk Section 14 where the member is invested in a Unitised Fund
218 218  
219 219  1. Generate a few Member Statements and ensure that all transactions have been completed and priced. Also ensure there are no Outstanding Contributions.
220 220  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.
221 221  
222 -Ensure that the client has been selected.
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.
223 223  
224 -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.
225 225  
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"]]
226 226  
227 -(% style="text-align:center" %)
228 -[[image:1633328856464-285.png]]
229 229  
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.
230 230  
231 -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.
232 232  
209 +[[image:Section 14 Transfer Process_html_cdc9ae73d6e83c03.png||height="90" width="596"]]
233 233  
234 -(% style="text-align:center" %)
235 -[[image:1633328913530-279.png]]
236 236  
212 +Please refer to the **Investment Switches** guide for the full process to be followed.
237 237  
238 -Please refer to the (% style="color:#2980b9" %)**Investment Switches**(%%) guide for the full process to be followed.
239 239  
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.
240 240  
241 -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.
242 242  
243 - ​​​​​​​
218 +[[image:Section 14 Transfer Process_html_5db01f746f85e705.gif||alt="Shape39"]] [[image:Section 14 Transfer Process_html_6b3e5fe8042b37fa.png||height="56" width="596"]]
244 244  
245 -(% style="text-align:center" %)
246 -[[image:1633328986406-762.png]]
247 247  
248 -
249 249  Only once the disinvestment process has been finalised in full can the user continue with the process.
250 250  
251 251  
252 -Select and generate the(% style="color:#2980b9" %) “**Client Member Investment Product**”(%%) batch, once the disinvestment has been actioned and priced.
224 +Select and generate the “**Client Member Investment Product**” batch, once the disinvestment has been actioned and priced.
253 253  
254 -(% style="color:#2980b9" %)**Effective Date:**(%%) Today’s date.
226 +Effective Date: Today’s date.
255 255  
256 -Click on (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”.
228 +Click on “**Save**” and “**Execute**”.
257 257  
258 258  
259 -(% style="text-align:center" %)
260 -[[image:1633330252894-988.png]]
231 +[[image:Section 14 Transfer Process_html_5a5c356aa4481b66.png||height="138" width="596"]]
261 261  
262 -
263 263  A report will generate reflecting the member’s current Fund Credit.
264 264  
265 -​​​​​​​
266 266  
267 -(% style="text-align:center" %)
268 -[[image:1633330357571-100.png]]
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"]]
269 269  
270 270  
271 271  
272 -Using the (% style="color:#2980b9" %)**Import Unclaimed Benefit Template, **(%%)create a file for import.
273 273  
274 -This template will process the member’s exits in Bulk and write up the payment to be paid into the transferring Fund.
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.
275 275  
276 -​​​​​​
277 277  
278 -(% style="text-align:center" %)
279 -[[image:1633327441733-379.png]]
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"]]
280 280  
281 281  
282 282  Critical fields that must be considered are:
283 283  
284 284  
285 -(% style="color:#2980b9" %)**System Number**(%%) This is the unique Everest generated number.
286 286  
287 -(% 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.
251 +System Number This is the unique Everest generated number.
288 288  
289 -(% style="color:#2980b9" %)**ID Number**(%%) Members Identity number.
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.
290 290  
291 -(% style="color:#2980b9" %)**Tax Ref No**(%%) Members tax reference number.
255 +ID Number Members Identity number.
292 292  
293 -(% style="color:#2980b9" %)**DOX **(%%)Date of exit, this is the Section 14 date.
257 +Tax Ref No Members tax reference number.
294 294  
295 -(% 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
259 +DOX Date of exit, this is the Section 14 date.
296 296  
297 -(% style="color:#2980b9" %)**Tax Upload Group**(%%) Set a tax group name, for example 22042020 (date of tax application)
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
298 298  
299 -(% style="color:#2980b9" %)**Effective Date **(%%)This is the Section 14 Date.
263 +Tax Upload Group Set a tax group name, for example 22042020 (date of tax application)
300 300  
301 -(% style="color:#2980b9" %)**Transfer **(%%)Always set this to Y
265 +Effective Date This is the Section 14 Date.
302 302  
303 -(% 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.
267 +Transfer Always set this to Y
304 304  
305 -(% style="color:#2980b9" %)**Transfer Fund Name**(%%) This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
269 +Transfer Fund Type This is the transfer fund type of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
306 306  
307 -(% 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.
271 +Transfer Fund Name This is the name of the receiving Fund. This needs to match the System Bank Accounts screen exactly.
308 308  
309 -(% style="color:#2980b9" %)**Transfer Participating**(%%) This is only required if the last 6 digits of the FSB Transfer number
273 +FSB Transfer Fund No This is the FSB number of the receiving fund and must match the System bank account screen exactly.
310 310  
311 -(% style="color:#2980b9" %)**Employer**(%%) does not end in zeros (0)
275 +Transfer Participating This is only required if the last 6 digits of the FSB Transfer number
312 312  
277 +Employer does not end in zeros (0)
313 313  
279 +
314 314  Once the file has been updated, save the file for import into the system.
315 315  
316 -Select and generate the (% style="color:#2980b9" %)“**Import Unclaimed Benefits**”(%%) batch.
282 +Select and generate the “**Import Unclaimed Benefits**” batch.
317 317  
318 318  
319 - ​​​​​​​
285 +[[image:Section 14 Transfer Process_html_31273b549dc2bb7f.gif||alt="Shape50"]] [[image:Section 14 Transfer Process_html_41e229bc4d6e5f9.png||height="355" width="596"]]
320 320  
321 -(% style="text-align:center" %)
322 -[[image:1633327705654-665.png]]
323 323  
288 +Client This is the Client for which the Section 14 is being processed.
324 324  
325 -(% style="color:#2980b9" %)**Client **(%%)This is the Client for which the Section 14 is being processed.
290 +File Name Click on the “**Browse**” button and locate the saved file.
326 326  
327 -(% style="color:#2980b9" %)**File Name**(%%) Click on the (% style="color:#2980b9" %)“**Browse**”(%%) button and locate the saved file.
292 +Batch Reference This is defaulted by the system.
328 328  
329 -(% style="color:#2980b9" %)**Batch Reference**(%%) This is defaulted by the system.
294 +Client Parent This is the Parent that the client belongs to.
330 330  
331 -(% style="color:#2980b9" %)**Client Parent **(%%)This is the Parent that the client belongs to.
296 +Click on the “**Save**” and “**Execute**” button.
332 332  
333 -
334 -Click on the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”(%%) button.
335 -
336 336  Two reports will generate. The first being confirmation of the fields that were required and what was supplied to generate the report.
337 337  
338 338  
339 -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.
340 340  
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.
341 341  
342 342  
343 -​​​​​​​
305 +[[image:Section 14 Transfer Process_html_7c90677e5d7d8644.gif||alt="Shape51"]]
344 344  
345 -(% style="text-align:center" %)
346 -[[image:1633327962522-699.png]]
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"]]
347 347  
348 348  
349 349  
350 350  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.
351 351  
352 -The member records now appear in(% style="color:#e74c3c" %) RED(%%) with an exit date and an exit type.
313 +The member records now appear in RED with an exit date and an exit type.
353 353  
354 354  
355 -(% style="text-align:center" %)
356 -[[image:1633328086509-533.png]]
316 +[[image:Section 14 Transfer Process_html_f70533c7086bc698.gif||alt="Shape57"]] [[image:Section 14 Transfer Process_html_6e379d9d97fe9faf.png||height="29" width="596"]]
357 357  
358 358  
359 -Once the tax response is received, the (% style="color:#2980b9" %)“**Import Unclaimed Benefits – Creditor Payment**”(%%) batch needs to be run.
319 +Once the tax response is received, the “**Import Unclaimed Benefits – Creditor Payment**” batch needs to be run.
360 360  
361 -Insert the (% style="color:#e74c3c" %)Batch Ref Number(%%) from your import, that was done previously, into this Batch Ref field.
321 +Insert the Batch Number from your import, that was done previously, into this Batch Ref field.
362 362  
363 363  The Administrator Bank field is the name of the creditor being paid that has been set up under System Bank Accounts (Transfer Funds).
364 364  
365 365  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.
366 366  
367 -Click on the(% style="color:#2980b9" %)** __cflo__ **(%%)button on the member record. A line would have been created for payment.
327 +Click on the __cflo__ button on the member record. A line would have been created for payment.
368 368  
369 369  
370 -​​​​​​​
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"]]
371 371  
372 -(% style="text-align:center" %)
373 -[[image:1633328484167-380.png]]
374 374  
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.
375 375  
376 -The payment can now be made in Bulk at the Parent Level.
377 377  
378 -Go to (% style="color:#2980b9" %)Accounts > Debtors and Creditors(%%) Menu item. Select (% style="color:#2980b9" %)**“Creditors”.**
336 +[[image:Section 14 Transfer Process_html_fdf87a27103cb999.gif||alt="Shape64"]] [[image:Section 14 Transfer Process_html_53a634c37cdda971.png||height="118" width="318"]]
379 379  
380 -A creditor payment reflects in the Creditor Payment.
338 +[[image:Section 14 Transfer Process_html_2541c1ea5f14a2ee.png||height="92" width="596"]]
381 381  
382 382  
383 -(% style="text-align:center" %)
384 -[[image:1633328582529-671.png||height="189" width="466"]]
385 385  
342 +Select __eft__ hyperlink and a batch editor screen will open to generate the Payment.
386 386  
387 387  
345 +[[image:Section 14 Transfer Process_html_f7922830ceb22f0e.gif||alt="Shape65"]] [[image:Section 14 Transfer Process_html_bef0d58a1354411a.png||height="156" width="596"]]
388 388  
389 -(% style="text-align:center" %)
390 -[[image:1633328678458-232.png]]
391 391  
392 -
393 -Select (% style="color:#2980b9" %)**__eft__ **(%%)hyperlink and a batch editor screen will open to generate the Payment.
394 -
395 -
396 -(% style="text-align:center" %)
397 -[[image:1633328773306-793.png]]
398 -
399 -
400 400  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.
401 401  
402 402  
403 403  
404 404  
405 -(% style="break-before: page; text-align: center;" %)
406 -= (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) =
353 +(% style="text-align: center;" %)
354 +== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
407 407  
408 408  
409 409  
... ... @@ -424,7 +424,6 @@
424 424  
425 425  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.
426 426  
427 -
428 428  EBSphere (Pty) Limited
429 429  
430 430  P.O. Box 785803
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