29 Apr Release – 29 April 2015
The following enhancements and new functionality are included in this week’s release:
1. Improved the Search facility
Made improvements to the performance of the Search functionality, by example exclusing unnessary fields from the search results and stopping the search process early when the result list becomes too large eg. doing a general search on the letter “a” will no longer cause the system to not respond.
2 .Change of IRR display
Made some more enhancements to the Internal Rate of Return section, by making it more readible with the indication of the period in brackets for each calculation.
3. Dividend withholdings tax: SARS data file
New input fields were added to cater for the following fields required in the SARS file for the Dividend Withholdings Tax (DWT) on Distributions:
* Registration date of a company
* Added a checkbox “Met the DTA requirements for a reduced tax rate” to an entity’s Account Owner view.
* Added a new sub-menu inder System for “Reason for Exemption”, from where the required codes and desctioptions may be added.
* Added the “Reason for Exemption” field on the Account Owner view, from where the code can be selected from the dropdown list, upon which the relevan descriptuon will be displayed as previously setup.
* Handle foreign individual – the “Nationality” field on the entity view, was previously a text input field, now changed to a dropdown, which lists the countries as setup under System -> Domicile
(defaults to South Africa).
For more detail see generating a SARS file for Dividend Withholdings Tax (DWT)
4. Cancel Fund Instruction
New functionality was added to allow for cancelling a fund instruction, which forms part of a fund manager instrcution that was created, but not yet paid or confirmed. Cancelling a fund instruction will then de-link it from the fund manager instruction.
A sell instruction (for switch or withdrawal) that has been de-linked from a fund instruction, can then be cancelled on the investor account or left in the authorised status to be included in a next fund manager instruction to be created in future.
* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.