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Zen Section
id586471988

Task 2.4.1: Record Contribution Split


Record the contribution split through the Transaction List. Selecting account 46000/MEMBERCODE will prompt Simple Fund 360 to present you with the Rollover Payment Details section allowing you to record the transaction.

 

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titleImportant

When the Contribution Spit occurs partway through the year, ensure you have completed The Create Entries Process a day before the event.

 

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IL:_ScreenAccessTransactionInput

From the Transaction List screen, select New Transaction. From the drop-down menu, select Journal


  1. Input the the following:

    Date01/07/2016
    Reference11
    DescriptionContribution Splitting


  2. Under the first Account heading, select account 46000 for Jeevan Hockey AccumulationInput the Rollover payment as $8$10,500000.00 Debit.
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  3. Select  and Input the Rollover Payment Details.

Required Information: Type of Payment, Member, Spouse and Display in Operating Statement options

 

Type of Payment select Contributions Splitting for a Spouse.

Member: select the original member who received the contribution.

Spouse: input the members spouse. This contact will be picked up from the Contacts screen.

Select Yes or No as to whether the payment amount will appear in the Operating Statement.

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The contribution amount will be reflected in SMSF Annual return under Section F, member outward rollovers and transfers.

 

6.  Select the Transfer In 28500/MEMBERCODE Account to record the contribution. 

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Select the More Details Panel, input the amount into the taxable component (to reflect the original contribution made) enter the appropriate preservation component.

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This contribution amount will be reflected in SMSF Annual return under Section F, member Inward rollovers and transfers. 


Select Post and then select Post and Prepare Documents to produce the supporting documentation. 


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