Error - The Fund's Total Closing Balance is not equal to the sum of all the closing member balances.

Support Query

When attempting to request an actuary certificate the following validation message is displayed 

The Fund's Total Closing Balance is not equal to the sum of all the closing member balances.

Solution

1. Navigate to the member's screen and enable the option All Member Accounts. This will display closed member accounts. 
   
   
   

2. Check if any accounts which have an end date, still have a balance remaining. Member Accounts which have an end date in a previous Financial Year will not be sent through to Actuaries however will be included in the fund's closing baance. Alternatively, generate an unrounded Detailed Blance Sheet and check the members section. 

   A possible scenario to cause this is where an accumulation account is closed due to a Pension Commencement and then a contribution is allocated to that accumulation account.

   
   

3. Correct this by either:
   1.  bringing these accounts to zero if they have ceased. 
      1. If the issue is caused by a transaction in the current Financial Year you can remove the end date from the member account and use the Internal Transfer In (56100) and Internal Transfer out account (57100) to journal the balance to another member account. Remember to insert the end date into the members account which has ceased again. 
      2. If the issue is caused by a transaction in a previous Financial Year and you deem it to immaterial e.g less than $1,  you can remove the end date from the member account, reverse the close period process,  use the Internal Transfer In (56100) and Internal Transfer out account (57100) to journal the balance to another member account on June 30 in the previous year then close period again. Remember to insert the end date into the members account which has ceased again. 
   2. correcting the end date if this is incorrect;
      
      

Then apply for a certificate again.