Term Deposit Reports



A summary of term deposits can be accessed via ‘Bank, Term Deposits’. The screen shows all open bank accounts for a scheme together with the details of the current and previous fixed terms.




The ‘Valuation’ button sends details of all bank accounts to an Excel spreadsheet.  For term deposits, the maturity date, interest rate and interest on maturity are shown.  The accounts are sorted in order of maturity date with the term deposits at the top and instant access accounts and 90-day notice accounts below.


Any accounts closed before the end of the period selected are excluded.


For each account, the following columns are shown:


·         The ‘Interim Balance’ is based on all bank transactions that have been entered to the bank account but excluding all expected bank transactions. 

·         The ‘Expected Payments’ shows expected transactions such as tax due, fees due and any other expenditure. 

·         The ‘Spendable Balance’ is the amount that would be in the bank account if all of the expected payments were deducted immediately.  It does not include any expected receipts.

·         The ‘Expected Receipts’ column shows all amounts that are due to be received e.g. rent or loan repayments. 

·         The ‘Working Balance’ shows the balance that would be in the account if all of the expected transactions (payments and receipts) were received or paid immediately.


Expected transactions are included within the valuation (or excluded) based on the earlier of the expected payment date and the ‘Date Due’.  For instance, a payment which is expected to be made on 16th May 2009 but was due on 1st April 2009 would be included in the expected payments column for a valuation run at 30th April 2009.


Next Pension Payment


Details of the next pension payment are stored below the bank balance totals. If there are any pensioners in the scheme, the date and amount of the next payment due will be shown together with the frequency of the pension.  Any outstanding tax payments on pension will also be shown.


The next pension payment details are taken from the ‘Planned Payments’ and ‘Planned Adjustments’ grids on the ‘Members, Pension’ screen.


The next payment is calculated from the latest record in the Planned Payments grid.  The annual amount is divided by the frequency and so the amount shown will be the monthly or quarterly amount etc.  The next payment date is calculated by taking the latest date from the Planned Payments grid.  If anything is stored in the ‘Day pension leaves account’ field on the ‘Basic Data’ tab, then that day is used instead of the day within the latest Planned Payments date.  The end date for the bank balance valuation is taken and the next payment date following that date is found.


If there is a Planned Adjustment that would be due before the next regular payment is due then the date and amount of that Planned Adjustment is used instead.


If the member’s pension has been suspended then the data is still shown but the frequency is shown as ‘Suspended’.


The details are shown independently for each pensioner within the scheme.




Another tab on the spreadsheet shows the transactions that took place in the selected period so that you can check that the transactions entered to Omni and complete and correct.


Any accounts closed before the start of the period selected are excluded. If the ‘Date Closed’ for the bank account was during the period selected for the transactions, the transactions for that account will be shown including the closure.


See also                Term Deposit Accounts