This page will guide you through processing a member's rollover received from an external super fund.
Navigate to Fund Level > Transactions > Member Income > Rollover In
- Select the relevant Member using the drop-down
- Enter Rollover Date, in the following date format DD/MM/YYYY
- Enter Service Period Start Date (also known as the ESP date), in the following date format DD/MM/YYYY
- Enter Description, or use the Class default "Rollover In"
- Enter Gross Amount, being the dollar amount received
- Enter Name, this is the name of the transferring super account
- Enter ABN of the transferring super account
- Enter Preservation Components, as per the rollover statement from the transferring super provider
- Enter Tax Components, as per the rollover statement from the transferring super provider
- Click Submit
Ensure total preservation components are equal to the total sum of tax components entered.
Prior Year Contributions
Class Super supports direct processing of contribution details that may be associated with a Rollover In, ONLY if the contributions are in the same year as the Rollover In.
If you process the Rollover In for one financial year but the contributions relate to the prior year then you need process the details of the contribution and the Rollover In, separately e.g.
- A member Rolls out of an existing fund on 20 June 2011.
- The SMSF processes the receipt of a cheque on the 7 July 2011 i.e. for the 2011/12 FY
- The Rollover documents include details of Contributions related to the 2010/11 FY
- The SMSF is required to reports these details on its 2010/11 FY Annual Return
Learn how to process Member Contributions