This functionality facilitates the processing of advance payments for annuitants in place of using manual accounting activity journals.
For information on Manual Accounting Journals refer to
Accounting
Transaction Capture
Manual Accounting Transactions
For information on processing Advance Payments via My Work refer to
My Work
Process SR
Annuity Advance Payments
From the main menu on top, select a scheme then select Manual Payments.
The Advance Payments menu item will be displayed for selection in the sub-menu on the left.
The Annuitant List screen will also be displayed.
The Annuitant List screen displays a list of annuitants for the scheme selected.
To find an annuitant, capture the necessary details in the Surname and Initials or Reference Number field on the Annuitant List screen and click SEARCH.
The results of the search will be displayed on the Annuitant List screen.
Highlight an annuitant and click Advance Payments on the sub-menu on the left.
The JU4FH Advance Payments screen will be displayed.
This screen displays a list of all Business Transactions (BT’s) on the Pre-authorised BT or on the Authorised BT table linked to the Annuitant selected with an Accounting Activity of PENADVANCE.
The following columns will be listed for each BT:
- Status (DOER / AUTHORISE / AUTHORISED BT)
- Amount
- Payment Date (Transaction Date)
- Payee
If the annuitant selected is not active, the following Warning Message will be displayed:
An advance payment cannot be processed where no active annuity exists.
Click OK to remove the message. Select an active annuity from the Annuity List screen to process.
To view an existing advance payment, highlight a payment on the JU4FH Advance Payments screen and click OPEN. The JU4FH Advance Payment Details screen will be displayed.
To create a new advance payment, select NEW on the JU4FH Advance Payments screen. The JU4FH Advance Payment Details screen will be displayed.
Capture data on the screen as follows:
|
Payment Date |
The date of payment. |
|
Amount |
The amount of the advance payment. |
|
Benefit Type |
The Type of Product. Select a value from the drop-down list. |
|
Payee |
The name of the Payee. |
|
Payment Method |
Select a value from the drop-down list.
The following values may be selected: - CHEQUE - EFT - BANK TRANSFER |
|
Account Type |
The Bank Account Type. |
|
Account Number |
The DTI Account Number. |
|
Branch Code |
The DTI Branch Code. |
Note:
The AUTHORISE and REJECT buttons will only be enabled if the Status is DOER or AUTHORISE.
Click OK once all of the information has been captured.
The system will create a Pre-Authorised BT record with an Accounting Activity of PENADVANCE and the following information:
|
Scheme Code |
|
|
Member Reference Number |
Member’s Membership Reference Number or Membership Reference Number of the Membership to which the Beneficiary is linked. |
|
Ben Client Instance ID |
Instance ID of the Beneficiary |
|
Accounting Activity |
MANUAL INITIATE / PENADVANCE |
|
Due Date |
Payment Date |
|
Business Effective Date |
Payment Date |
|
Actual Transaction Date |
Payment Date |
|
Monetary Amount |
Amount |
|
Fund Income Type Instance ID |
Benefit Type |
|
Payee Name |
Payee |
The system will create a Membership Payment Detail record with a Payment Type of DEDUCTIONS and with a Payee equal to PENSION FUND REFUND, (linked to the Corporate Client 000 PENSION FUND REFUND via a Client Relationship with a Client Relationship Type of DEDUCTIONS), Start Date equal to the first day of the month of the next annuity payment run and Benefit Type equal to the Benefit Type on the Advance Payment Details record.
A Membership Payment Detail record will be created with the following information:
|
Effective Date |
Start Date on Membership Payment record |
|
Regular Payment Amount |
Amount on Advance Payment Details record |
|
Annuitant Status |
AD HOC |
To reject an advance payment, click the REJECT button on the JU4FH Advance Payment Details screen.
The following warning message will be displayed:
Accounting Journal Rejected
Click OK to remove the message.
The payment will no longer be displayed on the JU4FH Advance Payments screen.
To authorise an advance payment, click the AUTHORISE button on the JU4FH Advance Payment Details screen.
The following message will be displayed:
This action cannot be reversed. Do you want to authorise the business transactions?
Click YES to confirm authorisation.
Note:
The Authoriser must be a different User id to the Doer.
If the authorisation criteria are fulfilled, the system will create the Business Transactions and update the Status on the JU4FH Advance Payments screen to AUTHORISED BT, and update the Authorise User ID and the Authorise Timestamp on the JU4DD Membership Payment Details screen.
Note:
When AUTHORISE is selected on the JU4FH Advance Payment Details screen, the same authorisation rules as per Manual Accounting Journals will be applied.
For information on Manual Accounting Journals refer to
Accounting
Transaction Capture
Manual Accounting Transactions