Extra Transfers In

Sometimes an unexpected extra payment or asset is received after the Transfer In has been fully processed. This extra payment should be entered as a new Bank Transaction using the Payment Type of 'Transfer In Extra'. When this is selected the Member box will appear so that you can select the member.

This should not be used for expected instalments of an in specie transfer. It is only used if the payment was not included within the original schedule of assets to be transferred.

On the Bank Transactions screen, use the Add Details button to select the Transfer that the payment relates to (the drop down box includes the paying scheme name, date and amount). Once this has been done the extra payment will be linked to that transfer. The allocation to the Member or the Transfer can be changed at any time.

The Transfer In Detail screen (from Member, Transfer In) includes a notes section and a read-only grid showing the extra payments that have been received.

The Extra Transfers In will be included in the fund split using the date of the bank transaction, not the date of the original transfer payment.

Fund split.

The allocation to an arrangement follows the original Transfer In i.e. either unvested or Transfer in Drawdown. However, if there has been a BCE since the Transfer Value was received then there may need to be an adjustment. In general, there are 2 situations:

1. if the BCE was only for part of the unvested fund then it would be correct for the extra TV to be added to the remaining unvested fund

2. if the BCE exhausted the whole of the unvested fund then user will need to decide how to deal with the Extra Transfer In. It may be necessary to amend the oriiginal transfers value and recalculate the BCE.

Drawdown Limits

Similarly, if the drawdown limits have been recalculated between the dates of the original and extra transfer then the user needs to decide whether to

just let Omni add the extra amount to the vested or TiD fund and not change limits or
go back and amend the original Transfer In and amend the fund split and recalculate the limit or
just let Omni add the extra amount to the vested or TiD fund and change the limit by just adding the amount to the fund value used to calculate the limit