You do not need to perform this step if starting the new account from July 1.
Ensure you have finalised the Year End and go directly to Completing the Conversion.
To run an Interim Account Balance, you must first create an Interim Period. The Interim Period will end on the Interim Date (one day prior to the pension commencing).
In this process, you will finalise all transactions up to the Interim Date and close the period up to that date.
You will not be able to enter any more transactions dated prior to or on the Interim Date once this process is complete.
Select Financial Periods on the Settings Menu.
Verify that all financial periods ending prior to the selected Interim Date have been closed. (i.e. that No is checked in the OPEN column and the GL Rolled column shows Yes.)
Your new Interim Period will commence on the day following the end date of your last closed financial period.
Usually, this will be July 1 in the currently open financial year.
If any interim periods have been created previously and these periods fall in the currently open financial year, the Interim From Date for the Interim Period you are now creating must be the day after the To date on which the previous Interim Period was closed.
For example,
oif you have closed and processed year end for FY2015-6, and have not created any Interim Periods in FY2016-7, the From Date to create an Interim Period will be July 1, 2016.
oIf you have already created an Interim Period from July 1, 2016 to August 28, 2016, the From Date for your next Interim Period will be August 29, 2016 (i.e. the date after the previous period close).
Enter the From and To dates for the Interim Period.
The To date should be the date of the day immediately prior to the date on which the new account (pension) is to commence.
Both FROM and TO dates MUST be in the same financial year.
In the example below, the member has requested conversion of an Accumulation Account to a Transition to Retirement Account on 1st September 2017. Therefore, the To date is 31st August 2017.
(Note that the following steps are identical for conversion to either a Pension Account or a Transition to Retirement Account. The only variation is in the account type description entered.)
It is imperative that you click SAVE on each of the screens in this section.
DO NOT click a NEXT button without first saving, as your entries may be lost
