alongside New under Fees on the sub-menu on the left. Additional options will be displayed.Report of management fees per previous scheme or previous administrator as at a specified date.
Note:
For ABSA, the portion of the management fee payable to the administrator of the fund from which money is paid into the beneficiary fund differs per administrator and therefore the report includes the management fee and the portion payable to the previous administrator. This will be calculated by ABSA Trust.
From the Beneficiary Fund menu, click alongside New under Fees on the sub-menu on the left. Additional options will be displayed.
Click New below Fees. The Fees Report screen will be displayed.
Capture or select the relevant details as follows:
|
From Date |
The date from which fees must be extracted. The system defaults to the current date as being the From Date. Capture a new date if required. |
|
To Date |
The date up to which fees must be extracted. The system defaults to the current date as being the To Date. Capture a new date if required. |
|
Include Year to Date |
Click the check box to include year to date figures. |
|
Type of Fee |
The system defaults to ALL type of fees. If FEE RXPENSE or COMM EXPENSE is required, then select it from the drop-down list. |
|
|
The email address to which the extract must be sent. |
Click GENERATE REPORT.
The current report detail will be displayed on the lower portion of the screen.
A message will indicate once the job has been successfully submitted (and an e-mail will be sent to the e-mail address provided).
Fees per Fee Type will be calculated as follows:
Expense Type
The system will retrieve the Business Transactions per Expense Type on the Members’ MEM DEPOSIT accounts for with the Accounting Activity MEMINVADMNFEE (and the Accounting Activities associated to it via the Accounting Activity Association with a Purpose Type FEE REPORT) and a Due Date less than or equal to the report To Date and greater than or equal to the report From Date.
For each Membership for which a Business Transaction is retrieved, the system will read the Benefit Type on the Membership Payment record linked to the Membership.
The Business Transactions per Expense Type and per Benefit Type will be summed.
Total Fees
The Fees per Expense Type will be summed.
If the value for Include Year to Date is Y, then the system will read the Financial Year-End on the Scheme Details. The system will retrieve the Business Transactions as per above but for which the Due Date is less than or equal to the To Date and Greater than the last Financial Year-End.
If a Fee Type is selected then only the Transactions for the Expense Type selected as per the table above will be retrieved.
Click View below Fees. The Report Selection screen will be displayed per Fee Type and Trust Product.
The following columns are displayed:
- Timestamp
- Date Captured
- Report Type
- Sequence Number
- Action
To select a report, click on the hyperlinked display in the Action column alongside the appropriate report.
The Report Selection screen will be displayed.
The following columns are displayed:
- Fee Type
- Baby Bonus
- Retirement VVR
- Total