Data Feeds

10.2.4 Bank Data Entry: To Verify a Pension Payment or Commutation Entry

To process a pension payment or commutation from the Bank Data Transactions Screen, select Benefits Paid from the Expense Group in the Categories list. Mclowd displays the Add Payment screen with relevant data pre-entered.

Allocate pension or benefit

Verify that all fields are filled with the correct data. Add or correct as required.

Click the ADD PAYMENT button to save and return to the data transactions screen.

The transaction is now marked ”Verified”.

Note: The Verified marker is underlined. By clicking the marker, you can view the transaction details you posted, or reverse an entry if you have made an error.



about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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