Risk Premiums Payable

At the Parent level, all clients are consolidated to one amount per Accounting Date. When payment is made, the amount is ratioed over all client creditors.

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Should payment need to be made for a specific client only, then the “Risk Premiums Payable – Client” option would be used.

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(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Risk Premiums Payable - Parent**(%%) ==

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Ensure that the correct Parent has been selected in Everest. Go to the Accounts Menu and select (% style="color:#2980b9" %)**“Cash Flows”:**

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[[image:image-20220808101919-1.png||data-xwiki-image-style-alignment="center"]]

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On the Cash Flows screen, double click on the(% style="color:#2980b9" %) __view__(%%) hyperlink next to Risk Premiums Payable:

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[[image:image-20220808102033-2.png||data-xwiki-image-style-alignment="center"]]

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Select the relevant accounting date for which the risk premiums are payable.

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Double Click the hyperlink for the relevant payment type. The (% style="color:#2980b9" %)__pay__ (%%)hyperlink is for cheque payments and the __eft__ hyperlink is to generate an electronic transfer.

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[[image:image-20220808102053-3.png||data-xwiki-image-style-alignment="center"]]

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Once selected a batch screen will open. Confirm that all the details are recorded correctly. The Accounting Date is the month end date, and the Effective Date is the actual date of the transaction i.e., the date it is paid.

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(% style="color:#2980b9" %)**NB!** (%%)You must NOT change the Accounting Date as the system uses this date to match against the accrual entries. Only change the Effective Date to match the payment date.

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[[image:image-20220808102113-4.png||data-xwiki-image-style-alignment="center"]]

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Click the (% style="color:#2980b9" %)“**Save**” (%%)and(% style="color:#2980b9" %) “**Execute**”(%%) buttons.

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The following accounting entries are generated from this Batch:

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[[image:image-20220808102633-12.png||data-xwiki-image-style-alignment="center"]]

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A communication document is generated reflecting the transaction. The amount is either entered into the CFLO Management System for cheque payments or into the Payment Management System for transfer via the electronic banking system (as per the Payment Type above).

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[[image:image-20220808102217-6.png||data-xwiki-image-style-alignment="center"]]

(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Risk Premiums Payable – Client**(%%) ==

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This option is used if you want to make payment for a single client only.

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Ensure that the correct Parent has been selected in Everest. Go to the Accounts Menu and select(% style="color:#2980b9" %) **“Cash Flows”**:

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[[image:image-20220808101919-1.png||data-xwiki-image-style-alignment="center"]]

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On the Cash Flows screen, double click on the(% style="color:#2980b9" %) __view__ (%%)hyperlink next to Risk Premiums Payable - Client:

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[[image:image-20220808102323-7.png||data-xwiki-image-style-alignment="center"]]

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Select the relevant accounting date for which the risk premiums are payable.

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Double Click the hyperlink for the relevant payment type. The (% style="color:#2980b9" %)__pay__ (%%)hyperlink is for cheque payments and the (% style="color:#2980b9" %)__eft__ (%%)hyperlink is to generate an electronic transfer.

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[[image:image-20220808102354-8.png]]

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Once selected a batch screen will open. Confirm that all the details are recorded correctly. The Accounting Date is the month end date, and the Effective Date is the actual date of the transaction i.e., the date it is paid.

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(% style="color:#2980b9" %)**NB!** (%%)You must NOT change the Accounting Date as the system uses this date to match against the accrual entries. Only change the Effective Date to match the payment date.

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[[image:image-20220808102408-9.png||data-xwiki-image-style-alignment="center"]]

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Click the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”(%%) buttons.

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The following accounting entries are generated from this Batch:

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[[image:image-20220808102427-10.png||data-xwiki-image-style-alignment="center"]]

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A communication document is generated reflecting the transaction. The amount is either entered into the CFLO Management System for cheque payments or into the Payment Management System for transfer via the electronic banking system (as per the Payment Type above).

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[[image:image-20220808102525-11.png||data-xwiki-image-style-alignment="center"]]

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(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==

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(% id="cke_bm_1117S" style="color:#2980b9; display:none" %)** **(% style="color:#2980b9" %)**DISCLAIMER**

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Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.

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In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.

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EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.

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Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.

(% style="color:#2980b9" %)**COPYRIGHT**

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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.

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EBSphere (Pty) Limited

P.O. Box 785803

Sandton

2146