17 Apr Release – 17 April
The following enhancements and new functionality are included in this week’s release:
1. Dividend withholdings tax: SARS data file
More changes were made to the fields in the SARS file for the Dividend Withholdings Tax (DWT) on Distributions.
For more detail see generating a SARS file for Dividend Withholdings Tax (DWT)
2. Change of IRR calculation
On the investor statement, an additional line was added for the IRR for the period of the statement (unannualised). Also, now clearly indicating that the other two IRR calculations are annualised, one for the statement period and the other for the period since inception.
3. Enhancement to Debit Orders
3a. Added a filter to select the product for which the recurring instructions should be included in the debit orders batch file.
The product filter defaults to the blank option and validates that a product/all should be selected, before user can create the debit order batch.
3b. Introduced a Cancelled state for Debit Orders. If an instruction is cancelled, the debit order status will now also be changed to Cancelled.
4. Initial Fees transaction date changes
4a. Date of Initial Fee: should always be the deposit date.
4b.Date of Interest Transaction: interest calculation is still based on the period between the deposit date and creation date of the FM instruction, but the interest transaction should now be written on the cash account at the point when the fund instruction is paid to the fund manager. The transaction date of the interest entry must be the earliest date of matched payment date of the payment to the fund manager OR the date on which the fund instruction was created.
4c. Date of tax on withdrawal transaction: now delaying the tax on withdrawal transactions to be written when the investor is paid (payment matched) and the payment dat os used as the date of the tax transaction.
* Refer to your online PIvotal Tracker Project for a full list of changes and enhancements for the release.