Accounting Entries

The claim cancellation process reverses the following original activities directly as set out below (provided the original activities exist to be reversed).

Process Code	Original Activity	Reversal Activity
BENEFIT PAYMENT	ACTRESTREV	ACTUARIALRES
BENEFIT PAYMENT	ACTUARIALRES	ACTRESTREV
BENEFIT PAYMENT	BENADJNEG	BENADJNEGREV
BENEFIT PAYMENT	BENALPROFIT	BENPROFITREV
BENEFIT PAYMENT	BENENHANCE	REVBENHANCE
BENEFIT PAYMENT	BENEXITCONNG	BENEXCONNGRV
BENEFIT PAYMENT	BENEXITCONTR	BENEXITCONRV
BENEFIT PAYMENT	BENFETCHRISK	BENREVRISK
BENEFIT PAYMENT	BENINSUREPBL	BENINSUREPBR
BENEFIT PAYMENT	MBENRLBONNEG	MBONRLNEGREV
BENEFIT PAYMENT	MEMBENRLBON	MEMRLBONREV
BENEFIT PAYMENT	PENCAPVALREV	PENCAPVALUE
BENEFIT PAYMENT	PENCAPVALUE	PENCAPVALREV
BENEFIT PAYMENT	REFNDCONTREV	REFUNDCONTRB
BENEFIT PAYMENT	REFUNDCONTRB	REFNDCONTREV
BENEFIT PAYMENT	RISKDEFECIT	RISKDEFECITR
BENEFIT PAYMENT	RISKSURPLUS	RISKSURPLUSR
BENEFIT PAYMENT	TAXDIRFEEPBL	TAXDIRFEEREV
BENEFIT PAYMENT	TAXDIRFEEREV	TAXDIRFEEPBL
BENEFITREALISE	MEMBENRLINNE	MEMBENRLINNR
BENEFITREALISE	MEMBENRLINV	BENREALREV
BENEFITREALISE	MEMBENRLUNT	BENREALREV

The original amounts that were realized are passed on to the income investment process.

Process Code	Original Activity	Reversal Activity
BENEFITREALISE	MEMBENRLUNT	INCOME//MEMREINVEST

When the income process runs, it will create the above reversal activity.

Note:

In the Benefit Payment process when a benefit payment is cancelled, (with reinvestment) or reinstated, the system will read the Scheme Parameter with a Parameter Type of CANCEL AT DISNV and a Description of Y.

If it is found, the following processing will take place:

- the MEMREINVEST Accounting Activities with a Transaction Date equal to the Transaction Date of the MBENRLBONNEG, MEMBENRLUNT, MEMBENRLINV and MEMBENRLBON Accounting Activities will be created.

- for each MEMBENRLUNT Business Transaction (BT) that was created in the Benefit Payment process, BT’s will be created with the following Accounting Activity and with the Transaction Date, Effective Date and Due Date equal to the Transaction Date, Effective Date and Due Date on the MEMBENRLUNT BT respectively and with the Unit Value and Monetary Amount equal to the Unit Value and Monetary Amount on the MEMBENRLUNT BT:

Process	Accounting Activity	Stakeholder	DR/CR	Account
BENEFIT PAYMENT	MEMREALREV	MEMBER	DR	INVSTMEMUNIT
			CR	MEM DEPOSIT
		FUND	DR	INVESTMENT
			CR	INVESTTRANST

Note:

The Fund level accounting rule may differ depending on the accounting set up for the fund e.g. for the UK fund, the INVESTALUNIT account is used in place of the INVESTMENT account.

If the Scheme Parameter with a Parameter Type of CANCEL AT DISNV is not found for the Scheme, processing will take place as per the current process.

The posting rule for INCOME//MEMREINVEST must look as follows (subject to the client's current rules):

DEBIT	MEMBER	INVESTMEMB
CREDIT	MEMBER	MEMDEPOSIT
DEBIT	FUND	INVESTMENT
CREDIT	FUND	INVESTRANST

The investment advice for these reinvestment amounts is automatically created. The moving of the money to the investment house must be done manually (even when the EFT option is selected under Income Administration).

For more information refer to

Benefit Payments Processing

Benefit Payment Update Type

Claim Cancellation

Accounting Entries

Supplements

Cancellation Bulk Payment Association