Version 1.4.1 New Functionality

MySF — Thu, 22 Apr 2004 02:31:06 GMT

Version 1.4.1 will be available for download in May 2004. This note outlines the changes and enhancements included in the new version.A detailed document which outlines all of the changes in detail will be made available for download at the time of the release.Dividends & DistributionsChange 1When either a Dividend or Distribution Receipt type is chosen in the Cash Receipts screen a new pop up screen will now be displayed. The new screen allows for the entry of Witholding Tax and Unfranked amount. The journal entries will automatically be generated from the entry screen. In the initial version (1.4.0) the screen for Dividends was the same as the Distributions screen, but with a number of fields greyed out. This has been changed so that the Dividend screen only displays those field that can be entered. This will we hope be easier to post against.Change 2The second change for Dividends & Distributions is an additional report in the Report Tool under the Financial Reports Tab. The report frovides a summary of all Dividends and Distributions for a selected period.Change 3Users can now add the details into the Dividends & Distributions pop up screen through the Transaction Reporter at a later point after the transaction has been saved. This will be useful where no all information has been provided with the initial payment. This editing of the pop up screen will be reported through the new Dividend & Distribution Report, however it will not generate the Journal Entries. The Journals to correctly post any changes to the original transaction will need to be entered manually.ReportingThere are a number of changes to reporting across the system with version 1.4.1 The following is a list of the more significant changes.Transaction ReportThe Transaction report within the Report Tool now has a selection for all transactions in a consolidated report. We think this will be useful for Auditing and reconcilliation.Balance Sheet A Fix has been made to allow running of the Balance Sheet report even when no Physical Assets are defined in a specific Asset Class. A number of users reported this problem. Grouping together of LinesChanges have been made to all reports improving the grouping of headings and lines when the report is displayed over multiple pages.Members Position StatementThe Members Position Statement report displays Opening Balances as the first section of the report. Included in these opening balances are Equity accounts which summarise 'accumulated' income from sources such as Employer Contributions or Member Contributions. This is required in order to report on these amounts separately from the total accumulated balances for each member. We have made a change to the display on order to make it a little clearer that these items are Opening Balance Equity accounts.Asset ChangesPartial PaymentOn Physical Assets it is possible to enter a partial payment. There was a error detected on the calculation of GST on Costs associated with a partial payment. This has now been fixed.Cash Payment - Pension Payment TypeWhen a Cash Payment is made with a Pension Payment Type, the journal entry generated for PAYG tax is incorrect. This error is corrected in version 1.4.1Pension ModeChanges will be incorporated to allow the use of either Segregated Assets income, or an Actuarial percentage for the determination of income tax payable by the fund. This is needed when one member of the Fund is in Pension Mode and others are in Accumulation mode. Users will be able to choose which method to use. The impact is that when the Year End rollover is performed and one or more members are in Pension mode the Profit & Loss calculation will take into account the percentage of either the segregated assets income, or the Actuarial percentage. The fund willl only be liable for tax on that portion of income which is not attributed to paying the pension.We will notify all MySF Clients by email when version 1.4.1 is available for download.

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Version 1.4.1 New Functionality