Bulk confirmation of tax amounts on recurring withdrawals

You can now bulk confirm tax amounts on recurring withdrawals (Income/Annuity Payments)

Setup required to use this functionality: System -> Products -> choose product and select Automatically confirm tax on recurring withdrawals.  This is only available if the product has Tax on withdrawal selected too.

Any recurring withdrawals (Income/Annuity Payments) processed after the setup has been done and where Automatically confirm tax has been selected will then once the dealer instructions have been completed no longer sit in Waiting for tax but will be in Waiting for payment under System -> instructions and will be ready for payment batching

Note: Should you wish to manually calculate and confirm tax on specific contracts, once you have done the setup you will need to go to the contract/s you want to exclude from the bulk tax confirmation and on the auto recurring withdrawal (Income/Annuity Payments) unselect the Automatically confirm tax field.

Last Updated on 3 years ago by Beryl Braak