Overview
Simple Fund 360 allows you to update a member's balance components through the Member Dashboard if a member's balance may have incorrect data input in a prior period.
Please ensure you have created entries to the day prior to updating balance components. The day prior will be the day before the Date input in step 3 below. Refer to Create Entries for more information.
Important: TRIS to ABP may have negative balance components
Recently converted Pension members from a TRIS to Account Based Pension may see a negative preserved amount offset by an increase or overstatement in the unrestricted non-preserved balance. This is due to pension payments for a TRIS being drawn from the preserved component.
- Use the solution below to update the preservation components to equal the member balance.
Navigation
| From the Main Toolbar, go to Member. |  |
| Select Member Dashboard from the list. | |
| Select the Members tab. |
Instructions
- Select the relevant pension account (Click Edit > View & Edit next to the member's account).
- Scroll down to the Balance Components section:
- Select Update Balance Components, then input the Transaction Date:
Please note that the system will calculate the member's balance based on the transaction date entered. This is why creating entries to the day before updating member components is advised.
For the above image (Transaction Date = 30/06/2025), create entries should be processed to 29/06/2025, then member components can be updated on 30/06/2025.
- In the components fields below, you can adjust the Rollover Components and Preservation Amounts within this section:
Note: Total Tax/Preservation Components must match the Account Balance
If the sum of components entered in each category (Tax / Preservation) do NOT match the Account's Balance as at the Transaction Date entered, the following warning will display:
Ensure that the components match the exact balance displayed next to the Transaction Date field:
- Once the components have been entered, click Save.
Simple Fund 360 will post a nil transaction, updating the balance components as desired: