We wish to create a pension on the same day that a contribution was made.
This article will go through two methods, where:
- A new pension account is created, where the pension balance will be equal to the contribution amount.
- The entire balance is to be under one pension account including the contribution amount.
Firstly you will need to post the contribution to an accumulation account. To post a contribution please refer to our help on how to enter a contribution.
New pension account:
When a contribution is made and on the same date you wish to start a pension, you do not have to Create Entries the day before as member allocation will be processed as Contribution is entered. Proceed directly to the Member List screen and click on Start New Pension.
Combined to a pension account:
Alternatively, if you would like the contribution received to fall under one pension account, proceed to: