Loading and Managing Beneficiaries

Beneficiaries are the recipients of money paid from RAMS by means of Payment Instructions to the bank. You view a list of registered Beneficiaries by selecting the Beneficiaries option from the Payments drop down on the main menu as shown below.

• use the Search Beneficiaries feature to search for a specific Beneficiary by Name, Account Name or Account Number
• click View to open the Beneficiary form where you can update Beneficiary details
• use the Options drop down to View Archived Beneficiaries
• click New Beneficiary to load a new beneficiary. See Create New Beneficiary form below.

• Beneficiary Name - this is the normal name that you will use to select the Beneficiary in RAMS
• Account Name - this is the actual Account Name that is registered with the Bank
• Auto Remit - select this flag if you want the system to automatically batch payments to the Beneficiary into a Remittance Bucket that can be paid as one payment when the Remittance is released for inclusion in a bank payment file.
• Remit by category - select this flag if you want to have a separate remittance batch for each payment category. An example would be the Admin and Commission categories that are both paid to the Business Account beneficiary.
• Notification Setting - these Email and Mobile fields work independently from any other Contact information in the system and will be used specifically to send payment notifications to beneficiaries when payments are made to them. 

Other important things to know about Beneficiaries

• The system will not allow duplicate Account Numbers for a Company. This also includes Account Numbers that might belong to Archived beneficiaries.
• When a new Beneficiary is created or when the detail of an existing Beneficiary is changed, the status of the Beneficiary is set to "Under Review".  See screenshot below.

• Beneficiaries that are Under Review needs to be approved by a user that have the "Approve Beneficiary Detail" permission enabled on their user profile. Once approved, the status of the Beneficiary will change to Normal.
• Payments can only be made to Beneficiaries with a status of Normal.
• Beneficiaries can be linked to Categories on Accounts to be used by the system to auto suggest draft payment instructions. For example if the City of Cape Town beneficiary is linked to the Municipal category on the Tenant Account, the system will know that the beneficiary for all payments made against the Municipal category will use the City of Cape Town beneficiary.
• Beneficiaries are included in some workflows such as the workflow to create a new Asset. When you create the Beneficiary as part of the workflow, the system will automatically link the beneficiary to some categories on accounts. Examples include the following:
  • If the Municipal beneficiary is selected as part of the Create Asset workflow, the system will link the Municipal beneficiary to the Municipal type categories
  • If the Landlord beneficiary is created or selected as part of the Create Asset workflow, the system will link the Landlord beneficiary to the Rent category
  • If the Body Corporate beneficiary is selected as part of the Create Asset Group workflow, the system will link the Body Corporate beneficiary to Body Corporate type categories of Assets linked to the Asset Group.
• Some beneficiaries are created by the RAMS support team and cannot be created or changed manually. These include:
  • Trust Account Beneficiary
  • Business Account Beneficiary
  • Investment Account Beneficiary
  • Municipal Beneficiaries
  • Building Wallet Beneficiaries - in the case of units belonging to a building type Asset Group, the proceeds of the Unit level rent and recoveries are sent to the Building Wallet where building level expenses are paid before disbursement of available funds to the relevant landlords of the building. The Rent and Services beneficiaries on unit level will therefor be set to the Building Wallet which is an internal beneficiary for system use only.
• You can archive a Beneficiary. Open the form of a Beneficiary with a status of Normal and click the Archive button as shown below.

• To unarchive, open the list of Archived beneficiaries from the Options drop down menu, then open the form of the relevant archived beneficiary and click the Unarchive button to unarchive as shown below. You can also delete the beneficiary by clicking on the Delete button below which will remove the Beneficiary from the list of Archived Beneficiaries. Note: You can create a Beneficiary with the same Account Number as a Deleted Beneficiary.