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Member opening balances

To enter Opening Balances for the members, you will need to have copies of Member Statements detailing components as at 30 June [prior year].

You can now populate the various Member Accounts by choosing Member opening balances from the Fund set up menu.

Choose the Member from the dropdown list under Select Account and complete the details and then choose SAVE OPENING BALANCES.

If the total of Rollover Components (in Section 2) does not match the sum of all Preservation Components (in Section 3), an error message will be displayed which asks you to check and re-enter the data.

Once the components have been saved you can check the balances in the Accounting screen.

Repeat these steps to enter opening balances for each MEMBER account in the fund.

Note: Some members may have active balances in more than one account. Take care to correctly allocate balances between Pension, Accumulation and/or Transition to Retirement accounts for each member where applicable. Past financial reports should show the breakdown of balances in each account.