Home > Accounting > Transaction Capture > Bulk Payments
This facility provides for the capture of information required for the processing of bulk payments.
From the main menu on top, select Transaction Capture. A sub-menu will be displayed on the left.
Select Bulk Payments.
The JU2CM Bulk Accounting Activity Journal List screen will be displayed.
To create a new bulk payment, select NEW. The JU2CM Bulk Payments – Selected Payable Records screen will be displayed.
Descriptions of the input fields on this screen appear below.
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Account |
The code and type associated to the selected account. Click LIST at the end of the line. This links to the JU2CK Accounting Activity Association List screen and displays a list of account codes to select from. Once a selection has been made, click SELECT. Note: This field is mandatory. |
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Scheme Code
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The code and name of the selected scheme. This is the name by which the scheme is registered with the Financial Services Board. Click LIST at the end of the line. This links to the JU1BK List screen and displays a list of products to select from. Once a selection has been made, click SELECT.
If the Pooling Status of the Product selected is MAIN UMBRELLA, the system will retrieve the transactions according to the criteria selected and for all of the Sub-Umbrella products linked the Product selected.
Note: This field is mandatory. |
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Income Type |
The code and description of the selected income type. Click LIST at the end of the line. This links to the Scheme Global Type List screen and displays a list of income types to select from. Once a selection has been made, click SELECT. |
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Insurer |
The Insurer to whom premiums must be paid. Click LIST at the end of the line. This links to the JU1AP Asset Manager screen and displays a list to select an Underwriter. Once a selection has been made, click SELECT. |
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Benefit Event |
The category and type of the selected benefit event. Click LIST at the end of the line. This links to the BIAB Benefit Event List screen and displays a list of benefit events to select from. Once a selection has been made, click SELECT. |
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Portfolio |
The description of the selected portfolio. Click LIST at the end of the line. This links to the JU1BV Scheme Portfolio List screen and displays a list of investment mediums to select from. Once a selection has been made, click SELECT. |
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Pay Centre |
The code and description of the selected pay centre. A pay centre is the entity from which income is received for a group of members. The code will have been defined by the user at the time of setting up the pay centre. Click LIST at the end of the line. This links to the JU1DL Scheme Pay Centre List screen and displays a list of pay centres to select from. Once a selection has been made, click SELECT. |
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Payment Type |
The list will be filtered, and only GROUP PAYMENT will be displayed. |
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Payee Name |
Leave blank to display all transactions on the bulk allocation list. If a name is entered here, the list will be filtered to display transactions for this payee only. |
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Payment Reference |
A number that identifies the payee for whom the bulk transactions apply. The Payment Reference that must appear on the recipient’s Bank Statement when payments are made via EFT. |
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From Due Date |
The due date from which transactions must be retrieved. |
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To Due Date |
The due date to which transactions must be retrieved. |
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From Transaction Date |
The transaction date from which transactions must be retrieved. |
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To Transaction Date |
The transaction date to which transactions must be retrieved. |
From the JU2CM Bulk Payments – Selected Payable Records screen, select TRANSACTION DETAILS (top left of screen). The JU2CM Bulk Payments - Transaction Details screen will be displayed.
Descriptions of the input fields on this screen appear below.
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Currency of Origin |
Click LIST at the end of the line. This links to the JU0AC Permitted Value List screen and displays a list of currencies to select from. Once a selection has been made, click SELECT.
Note: This field is mandatory. |
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Monetary Amount |
The total of all the allocations. This is a protected field, and is automatically updated from the total of the transactions selected for bulk payment. |
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Due Date |
The due date for the bulk payment. Note: This field is mandatory. |
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Effective Date |
The effective date for the bulk payment. Note: This field is mandatory. |
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Transaction Date |
The transaction date for the bulk payment. Note: This field is mandatory. |
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Payment Details |
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Payment Type |
The system will display a default value of NONE. Select the appropriate mode of payment from the drop-down box (CHEQUE or EFT). Note: If a payee name was entered under the Select Payable Records tab, the payment type defaults to CHEQUE. |
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Payee Name |
The name of the payee for whom the bulk payment must be made. Note: If a payee name was entered under the Select Payable Records tab, it will appear in this field, and it can only be changed under the Select Payable Records tab |
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Payment Reference |
The Payment Reference that must appear on the recipient’s Bank Statement when payments are made via EFT. Note: If a payee ID number was entered under the Select Payable Records tab, it will appear in this field, and it can only be changed under the Select Payable Records tab. |
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Debit (To) Account |
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Account Number |
The bank account number. Note: If the payment method is EFT, and an EFT rule has been associated to the accounting activity, the details of the bank account linked to the rule will be displayed, and cannot be updated here. |
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Account Type |
Unique identifier supplied by the bank. Note: If the payment method is EFT, and an EFT rule has been associated to the accounting activity, the details of the bank account linked to the rule will be displayed, and cannot be updated here. |
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Sort Code
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If the bank account details are not supplied according to the bank account rule linked to the accounting activity, click LIST at the end of the line. This links to the JU1CC Scheme Bank Account List screen and displays a list of account holders to select from. Once a selection has been made, click SELECT. The account type and number will automatically populate the relevant fields above. |
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Credit (From) Account |
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Account Number |
The bank account number. Note: If the payment method is EFT, and an EFT rule has been associated to the accounting activity, the details of the bank account linked to the rule will be displayed, and cannot be updated here. |
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Account Type |
Unique identifier supplied by the bank. Note: If the payment method is EFT, and an EFT rule has been associated to the accounting activity, the details of the bank account linked to the rule will be displayed, and cannot be updated here. |
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Sort Code
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If the bank account details are not supplied according to the bank account rule linked to the accounting activity, click LIST at the end of the line. This links to the JU1CC Product Bank Account List screen and displays a list of account holders to select from. Once a selection has been made, click SELECT. The account type and number will automatically populate the relevant fields above. |
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Document Reference |
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Document Number |
A number referencing a source document that provides the base information for the business transaction (e.g. cheque number if the payment method is CHEQUE. Note: This is not available if PAYMENT TYPE of EFT is selected, as this is then used to store the EFT number when the EFT is processed. The EFT number is automatically generated. |
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Document Chained Number |
This field can contain a number referencing a source document that provides the base information for a previous business transaction to which this one is linked. This is a unique number that applies to all occurrences of one allocation in order to tie them all together. |
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To search for all authorised transactions for the selected account, where a payment type of GROUP PAYMENT was selected, click SEARCH. The JU2CM Bulk Payment Allocation List screen will be displayed.
The total of the transactions included in the bulk payment is displayed in the Total Amount Payable field.
Highlight any transactions to be excluded from the bulk payment. The amount in the Total Amount Payable field will be updated as transactions are highlighted or unhighlighted
Processing
When SEARCH is selected, if the Pooling Status of the Scheme selected is MAIN UMBRELLA, the system will retrieve the transactions from the PREMPAYABLE account for all SUB UMBRELLA Schemes linked to the MAIN UBRELLA where the Income Type is equal to the Income Types selected and where the Date Reconciled on the business transaction is blank and for the SUB UMBRELLA Schemes for which the Underwriter for the Benefit Product with a Benefit Type Code equal to the Income Type Code is the same as the Underwriter selected. The Date Reconciled on each business transaction will be updated.
To accept the required transactions for bulk payment, click ACCEPT. The JU2CM Bulk Payments – Selected Payable Records screen will be re-displayed. The total of the accepted transactions (i.e. the ones that were not highlighted) will be displayed in the MONETARY AMOUNT field.
Click CREATE PAYMENT.
Capturing a Transaction on a Saturday
When CREATE PAYMENT is selected and one of the Accounts in the Accounting Rule linked to the Accounting Activity selected is INVESTMEMB or INVSTMEMUNIT, or if the Money Movement Indicator on the Accounting Activity is Y and the Payment Method is EFT, the existing Transaction Date validation will be applied, i.e. if the Status of the Date on the Calendar is WEEKEND or PUBLIC HOLIDAY, an error message will be displayed.
For all other Accounting Activities, the system will read the Status on the Calendar for the Date equal to the Transaction Date, and if it is WEEKEND, will check if the Date is a Saturday. If it is, then the CREATE PAYMENT button will be enabled.
A confirmation message will be displayed.
Click YES to create the accounting activity journal, or click NO or CANCEL to stay on the same screen.
Note:
If the payment method selected was CHEQUE, and there was no payee name provided, an error message will be displayed.
If the payment method selected was EFT, and there was no bank account selected, an error message will be displayed.
Main Funds and Sub-Funds
When CREATE PAYMENT is selected, the system will create Accounting Activities as follows:
Bulk Payment transactions:
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BULK PAYMENT |
DR |
BANK ALLOC |
Main Fund Scheme Code |
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BULK PAYMENT |
CR |
BANK |
Main Fund Scheme Code |
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BULK PAYMENT |
DR |
PREMPAYABLE |
Sub-fund Scheme Code |
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BULK PAYMENT |
CR |
BANK ALLOC |
Sub-fund Scheme Code |
Sum of transactions for all members per sub-scheme:
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BULK PAYMENT |
DR |
BULKALLOC |
Sub-fund Scheme Code |
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BULK PAYMENT |
CR |
BANK ALLOC |
Sub-fund Scheme Code |
Individual transaction for each member included in payment:
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BULK PAYMENT |
DR |
PAYEPAYABLE |
Sub-fund Scheme Code |
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BULK PAYMENT |
CR |
BULKALLOC |
Sub-fund Scheme Code |
Once the transactions have been created, the JU2CM Bulk Payments Accounting Activity Journal List screen will be re-displayed, and the transactions just created will be shown with a status of DOER.
The accounting activity journals have been created. The reconciliation date on each of the transactions will be updated to reflect the transaction date provided on the JU2CM Bulk Payments – Selected Payable Records screen.
This facility enables you to select transactions and flag them as paid. This must be done when preparing an account for the bulk payment process. All previously paid and payable records must be flagged as paid (i.e. reconciled).
Select Bulk Payments from the sub-menu on the left.
When the JU2CM Bulk Accounting Activity Journal List screen is displayed, select Flag as Paid from the sub-menu on the left.
The JU2CM Bulk Payments - Select Payable Records screen will be displayed.
Capture the necessary values on the JU2CM Bulk Payments - Select Payable Records screen and click SEARCH.
Note:
The capture of values for the Account and Scheme Code fields is mandatory.
The JU2CM Bulk Payment Allocation List screen will be displayed.
Select the required transactions to be flagged as paid and select ACCEPT. The JU2CM Bulk Payments - Transaction Details screen will be displayed with the total of the accepted transactions displayed in the MONETARY AMOUNT field. Click FLAG AS PAID. A confirmation message will be displayed.
Click YES to continue.
Return to the Transaction Capture sub-menu and select Bulk Payments again. When the JU2CM Bulk Payments - Select Payable Records screen is displayed, capture the same details as earlier and select SEARCH. The JU2CM Bulk Payment Allocation List screen will be displayed.
Note that the transactions just flagged as paid will not be shown on this screen.
The reconciliation date on each of these transactions will be updated to reflect that the transactions have been reconciled.
Select Bulk Payments from the sub-menu on the left.
The JU2CM Bulk Payments Accounting Activity Journal List screen will be displayed.
Highlight the required line, then select OPEN. The JU2CM Bulk Payments – Select Payable Records screen will be displayed.
Click REJECT. A confirmation message will be displayed.
Click YES to continue.
The JU2CM Bulk Payments Accounting Activity Journal List screen will no longer display the bulk payment rejected.
Select Bulk Payments from the sub-menu on the left.
The JU2CM Bulk Payments Accounting Activity Journal List screen will be displayed.
Highlight the bulk payment to be authorised and select OPEN. The JU2CM Bulk Payments – Select Payable Records screen will be displayed.
Click AUTHORISE. A confirmation message will be displayed.
This action cannot be reversed. Do you want to authorise this Accounting Activity Journal?
Click YES to continue.
The JU2CM Bulk Accounting Activity Journal List screen will be re-displayed, and the transactions just authorised will be shown with a status of AUTHORISE.
For information on cancelling Bulk Payments, refer to
Supplements
Cancellation Bulk Payment Association
You can attach comments to the accounting activity journal details. On the JU2CM Bulk Payments – Select Payable Records screen, click NOTE. The JV0AC Notation screen will be displayed.
Enter the relevant text details, then click OK.
For further information regarding the notes facility, refer to Notes under
Product Launch Requirements
Additional Menu Options
Tax payment schedule
On the JU2CM Bulk Payments – Select Payable Records screen, click TAX SCHEDULE to produce the tax payment schedule in Microsoft Excel.
The following columns are displayed:
- Due date
- Activity
- Amount
- Surname
- Initials
- ID Number
- Member reference number
- Payee name
- Payee ID
- IRP5 number
- IRP3 number
Creditor payment schedule
On the JU2CM Bulk Payments – Select Payable Records screen, click PAYMENT SCHEDULE to produce the creditor payment schedule in Microsoft Excel.
The following columns are displayed:
- Scheme (Main Umbrella Scheme)
- Account (The account selected on the JU2CM Bulk Payments screen)
- Due date (Due Date captured for Transaction)
- Activity (Accounting Activity Associated to Account)
- Amount (Sum of transactions for Sub-Umbrella)
- Income Type
- Scheme Code (Sub-Umbrella Scheme Code)
- Scheme Name
- Payee name (Payee Name captured on the JU2CM Bulk Payments screen)
On the JU2CM Bulk Payments – Select Payable Records screen, click ALLOCATIONS to display the JU2CM Bulk Payments Accounting Activity Journal – Allocation List screen.
To display details, highlight an allocation and click OPEN. The JU2CM Bulk Payments Accounting Activity Journal Detail screen will be displayed.
