Common Queries
Why does a Member's Account still have a balance after creating entries on the period compliance screen?
How do I stop Profit and Loss from being allocated to this Member's Account?
Solution
If End Dates have not been added to the Member's Account any profit or loss incurred in the fund over the Financial Year will still allocate to the Member's Account.
End Dates indicate to the system that this Account is no longer active within Simple Fund 360, therefore it will prevent any future profit or loss from being allocated to the Member Account.
Please note that closing an Accumulation account is the same process as closing a Pension account.
Example
John Jones' Accumulation Account is no longer active in the Fund, to prevent any future profit or loss from being allocated to the member's account I will add end dates.
1. Navigate to the Member List Screen
| From the Main Toolbar, go to Member. |
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Select Member List from the list. |
2. Select John Jones' Accumulation Account
3. Enter the End Date for the Members Account under Account Details. (We recommend this date to be the day when the Member Account has a nil balance).
Once the End Date has been added scroll to the bottom of the screen and then select Save
Member Balances
Please ensure that the Member's Account Balance is zero before adding in the End Dates for the Member Account. To ensure the Member's balance is zero before adding the member's end dates, please refer to either the Member Allocation Worksheet or Internal Transfer articles.