Once all of the information required for the processing of a benefit payment has been captured, the Realisation Process batch job will run automatically (JU4AK_BLKREAL Bulk Realisation). Once realisation has completed for a benefit payment, the information will be extracted automatically for the Tax Directive Request and when the Tax Directive information has been loaded, the payment records will be created.
A list of all of the benefit payments, for which the payment records have been created, will be provided for Bulk Authorisation.
An automated Realisation batch job is scheduled to run at frequent regular intervals every day.
When it runs, the System will find the Schemes for which there is a Scheme Parameter with a Parameter Type of AUTOBENPROCESS and find all of the Benefit Requests for which the Request Status is CLIENT AUTH and for which there is no Benefit Realisation Detail record.
This will be processed as per the existing Realisation process.
If the Earning Allocation Basis on the Investment Medium is BONUS and the applicable Bonus Rate is found, interest will be calculated as per the existing Realisation process and the Benefit Realisation Detail record and the accounting transactions will be created.
The First Opened Timestamp will be updated on the REALISATION Benefit Update Type.
If the Bonus Rate is not found, the First Opened Timestamp on the REALISATION Benefit Update Type will be updated and a Claim Detail Status record with a value of NO BONUS RATE will be created. An error message will be written to the Error Log.
If the Earning Allocation Type on the Investment Medium is UNITISED and no authorised unit price is found for the applicable Effective Date depending on the Pricing Frequency, the first stage of Realisation will be processed as per the existing process i.e. the Benefit Realisation Detail record will be created.
The First Opened Timestamp on the REALISATION Benefit Update Type will be updated and a Claim Detail Status record with a value of NO UNIT PRICE will be created.
The System will find the Benefit Realisation Detail records for which the Realisation End Date is null and if the applicable unit price is available or the applicable interest rate is found, the market value will be calculated and the accounting transactions created.
If the accounting transactions have been created for all of the investment portfolios for which the member has a balance i.e. the Actual Realisation Date is not null for all of the Benefit Realisation Detail records linked to the Benefit Request, then:
- the Realisation End Date will be updated on the Benefit Request with the current date
- the Last Closed Timestamp on the REALISATION Benefit Update Type will be updated with the current date and time,
- the Status on the Benefit Update Type will be update to CLOSED,
- the End Date on the NO BONUS RATE Claim Detail Status record or NO UNIT PRICE Claim Detail Status record will be updated, depending on which one is found.
The System will create the Benefit Update Type records that would be created in the on-line process for the Event Category.
An automated Tax Directive Request batch job is scheduled to run at frequent regular intervals every day.
When the Batch Job runs, the System will find the Schemes for which there is a Scheme Parameter with a Parameter Type of AUTOBENPROCESS and find all of the Benefit Requests for which the Request Status is DISINV COMPLETE. The benefit amount will be calculated as per the existing process when the CALC BENEFIT Benefit Update Type is processed and the Benefit Tax Directive Request record will be updated. A Claim Detail Status record will be created with a value of WAITING TAX DIR.
If there is an error in calculating the benefit amount, an error message will be written to the Error Log.
The First Opened Timestamp and the First Closed Timestamp will be updated on the CALC BENEFIT Benefit Update Type and on the TAX DIR REQUEST Benefit Update Type.
The System will find the Benefit Requests for which the value for REQ STATUS on the Benefit Tax Directive Request record is 07 (Finalised) and the ISSUE DATE is not null. For the Benefit Requests found, the First Opened Timestamp and the First Closed Timestamp will be updated on the TAX DIRECTIVE Benefit Update Type. The End Date on the WAITING TAX DIR Claim Detail Status record will be updated.
If any of the other Benefit Update Types, i.e. other than the REALISATION, CALC BENEFIT, TAX DIR REQUEST and TAX DIRECTIVE, have a First Opened Timestamp and the First Closed Timestamp is null, a Claim Details Status record will be created and the CLAIM DETAILS will be updated to OPEN UPDATES.
If not, the First Opened Timestamp and the First Closed Timestamp for each Benefit Update Type will be updated with current date and the Status on the Benefit Update Type will be updated to CLOSED, except for the BENEFIT PAYABLE and PRIOR CLAIMS Benefit Update Type.
If there is a PRIOR CLAIMS Benefit Update Type and the Settlement Amount and/or the payment details are null, an error message will be written to the Error Log and the value for CLAIM DETAILS will be updated to NO PRIOR CLAIM.
If there is no PRIOR CLAIM Benefit Update Type or the Settlement Amount and the payment details are not null, the Disposal Instruction records will be updated for the benefit amount, the prior claim amount, the tax amount and tax arrear amounts (IT88) if applicable.
If the Payment Method is EFT, the System will read the value for Bank Acc Status for the Debit DTI Account, and if it is not VALIDATED or USER VALIDATED, an error will be written to the Error Log and the value for CLAIM DETAILS will be updated to ACCNOTVALIDATED.
If there are no errors and the Bank Acc Status for all of the Debit DTI Accounts is VALIDATED or USER VALIDATED, the Benefit Request Status will be updated to PMT CHECKED. If there is a Claim Details Status record with a value of OPEN UPDATES, the End Date will be updated.
When JU4AK_BLKREAL Bulk Realisation batch job runs, the system will create BT’s with the applicable Accounting Activity for each of the Scheme Service Fees that were ticked when the Service Fees screen was submitted and with an Amount equal to the Amount on the Scheme Service Fee linked to the applicable Service Type.