From 1 July 2018 fund members will be able to apply to release voluntary contributions, along with associated earnings, to help purchase a first home.
How to process in Simple Fund 360
The first Home Super Saver Scheme will be recorded using the 46000/MEMBERCODE. This will allow you to easily record all the components of the Rollover payment.
| From the Main Toolbar, go to Accounting. |
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| Select the Transaction list |
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- Select New Transaction. From the drop-down list, select the Bank Statement.
- Input the date of the transaction and a reference number
- Under the Account heading, select the bank account from the Select an account box. Click on the next account box. Begin typing and search for
account 46000/MEMBERCODE. - Input the Rollover payment amount. Simple Fund 360 will post a corresponding entry to the bank account fields on the screen.
Select the More Details Panel and input the Rollover payment details
| Type of Payment | ||||
|---|---|---|---|---|
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Select - First Home Super Saver Scheme Withdrawal
The option will only be available from 01 July 2018 onwards |
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| Member | ||||
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Select the correct MEMBERCODE. |
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| Display in Operating Statement/Profit or Loss Statement | ||||
| Select Yes or No as to whether the payment amount will appear in the Operating Statement. | ||||
| Service Period Start Date | ||||
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The Service Period Start Date will display which is picked up from The Member List. |
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| Date of Payment | ||||
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Input the Date of Payment. |
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| Transfer Balance Cap | ||||
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When the selected member account is in Pension phase and the Payment Type = First Home Super Saver Withdrawal. The following TBC details will display.
Refer to the Event Types for Transfer Balance Account Reporting help for more details on the events. |
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| Rollover Components | ||||
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Input the rollover components.
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| Preservation Amounts | ||||
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Input the preservation amounts
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Select Post and Prepare Documents Alternatively, select Post to add the transaction to the Transaction List