Beneficiaries - Account Detail for Payments
Payments in rpmsOnline are always made to a Beneficiary.
Also in this article:
- How to create a Beneficiary for a Municipality, Electricity Provider, Water Provider
- How to create a Beneficiary of type Other
- How to Authorise a Beneficiary for use in Payment Allocations
- How to disable a Beneficiary for use in Payment Allocations
Beneficiaries are created when you:
- add Bank Account detail for a Landlord
- add Bank Account detail for a Tenant
- add Bank Account detail for a Complex
- add Bank Account detail for a Contractor
- add Bank Account detail for a Company Account (Trust, Business or Investment)
- manually create a Beneficiary on the Master Beneficiaries list. You can use this option to create Beneficiaries for the Municipality, Electricity Provider, Water Provider or any Other type of Beneficiary.
Beneficiaries in general have the following information associated with them:
- Name - name of the Beneficiary
- Date Registered - the date when the beneficiary was created
- Type - the valid options are Agent Bus Default, Agent Invest Default, Agent Trust Default, Landlord, Tenant, Complex BC, Contractor, Municipality, Electricity Provider, Water Provider and Other.
- Beneficiary Email - Email to be used for sending Remittances where the Beneficiary is a Municipality
- Batch Reference - Batch reference to be used for Bulk Remittance Payments to a Municipal beneficiary
- Secondary Reference - tick this flag to indicate that Payments to this beneficiary need to have a secondary reference number. Examples of this would be payments to a bucket account where the bucket account number would be the Beneficiary Account Number and the Secondary Reference would be Account Reference on the Payment.
- Status - the status field is used by the system to manage access to Beneficiary Detail for payment purposes. When the Beneficiary is created, the status is REVIEW. When the Beneficiary is authorised for use in Payment Splits, the status is changed to CURRENT. When Beneficiaries are no longer used, you can change the status to PAST.
- Auto Remittance - this flag indicates whether the system will send all Payment Splits for this Beneficiary to a Bulk Remittance that can be used to make one bulk payment.
- Account Name - the actual Beneficiary Account detail
- Bank - the actual bank (ABSA, FNB, Invested, Standard Bank, Nedbank, etc.
- Branch Code - the bank account branch code
- Account Number - the actual bank account number
- Account Type - the account type (current, savings, bond)
- Proof of Account - a document that you can upload to proof that the account details are correct
How to create a Beneficiary
As explained Landlord, Tenant, Complex and Contractor Beneficiaries are created by clicking on the Add Bank Account detail button on the Edit form for the relevant entity.
To create a Beneficiary of type Municipality, Electricity Provider, Water Provider or Other:
- Navigate to the Management menu and select Master Portfolio Data option and then Beneficiaries All option from the sub menu.
- Complete the Beneficiary details on the form as shown below.
- Click on the Create Button. The Beneficiary status will be REVIEW and it will then be routed to the List of Beneficiaries to Authorise.
- You can also use the View / Load Proof of Account button to upload a Proof of Account detail document.
How to authorise a Beneficiary for use in Payment Allocations
All new Beneficiaries or Beneficiaries where account changes were made will be routed to the List of Beneficiaries to Authorise where a Manager user with the appropriate permission will have to authorise the new Beneficiary or changes to the Beneficiary Account detail as follows:
- Navigate to the Accounts menu and select the Authorise Beneficiaries option.
- The list of Beneficiaries to authorise will be displayed as shown below.
- Click on the Authorise option to authorise the new Beneficiary or Beneficiary Account change.
- The Beneficiary status will be changed to CURRENT and the system will make an audit trail entry for the authorisation. Note: Only authorised Beneficiaries with a status of CURRENT will be available for use during the Allocation process.
How to disable a Beneficiary
To disable a Beneficiary, you need to archive the beneficiary. You can do this as follows:
- Navigate to the Management menu
- Select the Master Portfolio Data menu option
- Select the Beneficiaries ALL sub-menu to open the Beneficiary query
- Search for the Beneficiary you want to archive and then click on the Archive icon.