This section details the setup and generation of NAMFISA reports, specifically for entities operating in Namibia.

Overview

The NAMFISA report setup is exclusively available to entities based in Namibia. As of October 2018, a new MLR-2 Summarized Management Report is available under Reporting > Management. This report is designed to assist users in completing their NAMFISA online submissions.

Before you can generate the MLR-2 report, you must complete the necessary setup within MAXMONEY.

Report Setup in MAXMONEY

Navigate to Setups > Reporting > Summarized Management Regulator Report.

Here, you will select the applicable ledger(s) for each value. This links the report fields to your accounting module in MAXMONEY, allowing the system to automatically pull the correct amounts. If your entity does not use MAXMONEY for its accounting, the values cannot be generated within MAXMONEY.

Revenues

For revenue accounts, the report calculates the movement for the period. This means the sum of all transactions on the selected ledgers for the specified reporting period.

• Bad Debts Recovered Ledger: Select the ledger where you record payments received for debts previously written off as uncollectible. Leave empty if not applicable.

• Interest Loans and Advances Ledger: Select the ledger(s) where you record interest charged on loans granted to debtors. Ensure you select ledgers with a Control Account Type = Interest Sub-ledger. Leave empty if not applicable.

• Default Interest Ledger: Select the ledger where you record interest charged on loans that are in arrears. Leave empty if not applicable.

• Interest from Bank Ledger: Select the ledger where you record interest received on positive bank account balances. Leave empty if not applicable.

Expenses

For expense accounts, the report calculates the movement for the period, summing all transactions on the selected ledgers for the reporting period.

• Audit Fees Ledger: Select the applicable ledger or leave empty.

• Accounting Fees Ledger: Select the applicable ledger or leave empty.

• Cleaning Expenses Ledger: Select the applicable ledger or leave empty.

• Security Expenses Ledger: Select the applicable ledger or leave empty.

• Bad Debts Ledger: Select the applicable ledger or leave empty.

• Bank Charges Ledger: Select the applicable ledger or leave empty.

• Other Operating Expenses Ledger: Select the applicable ledger or leave empty.

• NAMFISA Levy Ledger: Select the applicable ledger or leave empty.

• Other Levies Ledger: Select the applicable ledger or leave empty.

• Telephone and Fax Ledger: Select the applicable ledger or leave empty.

• Cellphone Ledger: Select the applicable ledger or leave empty.

• Trustee Remuneration Ledger: Select the applicable ledger or leave empty.

• Trustee Medical Ledger: Select the applicable ledger or leave empty.

• Trustee Other Ledger: Select the applicable ledger or leave empty.

• Computer Expenses Ledger: Select the applicable ledger or leave empty.

• Maintenance Ledger: Select the applicable ledger or leave empty.

• Office Rental Fixed Property Ledger: Select the applicable ledger or leave empty.

• Staff Remunerations Ledger: Select the applicable ledger or leave empty.

• Social Security Ledger: Select the applicable ledger or leave empty.

• PAYE Ledger: Select the applicable ledger or leave empty.

• Administration Fees Ledger: Select the applicable ledger or leave empty.

• Municipal Utilities Ledger: Select the applicable ledger or leave empty.

• Finance Interest on Related Party Loans Ledger: Select the applicable ledger or leave empty.

• Finance Interest on Unrelated Party Loans Ledger: Select the applicable ledger or leave empty.

• Other Licensing Ledger: Select the applicable ledger or leave empty.

• Finance Costs Ledger: Select the applicable ledger or leave empty.

• Interest Paid Bank Ledger: Select the applicable ledger or leave empty.

• Credit Bureau Fees Ledger: Select the applicable ledger or leave empty.

• Postage and Courier Expenses Ledger: Select the applicable ledger or leave empty.

• Other Insurance Ledger: Select the applicable ledger or leave empty.

• Deferred Tax Ledger: Select the applicable ledger or leave empty.

• Revenue Stamps and Annual Duty Ledger: Select the applicable ledger or leave empty.

Assets

For asset accounts, the report calculates the balance at the end of the period. This includes the sum of all transactions on the selected ledgers up to the last day of the reporting period.

Non-Current Assets: Property, Plant and Equipment

• Computer Equipment and Software Cost Ledger: Select the applicable ledger or leave empty.

• Computer Equipment and Software Depreciation Ledger: Select the applicable ledger or leave empty.

• Office Equipment Cost Ledger: Select the applicable ledger or leave empty.

• Office Equipment Depreciation Ledger: Select the applicable ledger or leave empty.

• Furniture Cost Ledger: Select the applicable ledger or leave empty.

• Furniture Depreciation Ledger: Select the applicable ledger or leave empty.

• Vehicles Cost Ledger: Select the applicable ledger or leave empty.

• Vehicles Depreciation Ledger: Select the applicable ledger or leave empty.

Current Assets: Cash and Cash Equivalents held in Namibia

Cash includes currency, coins, un-deposited checks, checking accounts, and petty cash. Cash equivalents are short-term, highly liquid investments like money market accounts.

• FNB Namibia Call Accounts Ledger: Select the applicable ledger or leave empty.

• FNB Namibia Current Accounts Ledger: Select the applicable ledger or leave empty.

• Standard Bank Namibia Call Accounts Ledger: Select the applicable ledger or leave empty.

• Standard Bank Namibia Current Accounts Ledger: Select the applicable ledger or leave empty.

• Nedbank Namibia Call Accounts Ledger: Select the applicable ledger or leave empty.

• Nedbank Namibia Current Accounts Ledger: Select the applicable ledger or leave empty.

• Bank Windhoek Call Accounts Ledger: Select the applicable ledger or leave empty.

• Bank Windhoek Current Accounts Ledger: Select the applicable ledger or leave empty.

• SME Call Accounts Ledger: Select the applicable ledger or leave empty.

• SME Current Accounts Ledger: Select the applicable ledger or leave empty.

• Property Cost Ledger: Select the applicable ledger or leave empty.

• Property Depreciation Ledger: Select the applicable ledger or leave empty.

• Letshego Call Accounts Ledger: Select the applicable ledger or leave empty.

• Letshego Current Accounts Ledger: Select the applicable ledger or leave empty.

• eBank Call Accounts Ledger: Select the applicable ledger or leave empty.

• eBank Current Accounts Ledger: Select the applicable ledger or leave empty.

• Trustco Call Accounts Ledger: Select the applicable ledger or leave empty.

• Trustco Current Accounts Ledger: Select the applicable ledger or leave empty.

• BankBIC Call Accounts Ledger: Select the applicable ledger or leave empty.

• BankBIC Current Accounts Ledger: Select the applicable ledger or leave empty.

• PO Nampost Call Accounts Ledger: Select the applicable ledger or leave empty.

• PO Nampost Current Accounts Ledger: Select the applicable ledger or leave empty.

• PO Other Call Accounts Ledger: Select the applicable ledger or leave empty.

• PO Other Current Accounts Ledger: Select the applicable ledger or leave empty.

• Building Societies Call Accounts Ledger: Select the applicable ledger or leave empty.

• Building Societies Current Accounts Ledger: Select the applicable ledger or leave empty.

• Cash on Hand Ledger: Select the applicable ledger or leave empty.

Liabilities

For liability accounts, the report calculates the balance at the end of the period, summing all transactions on the selected ledgers up to the last day of the reporting period.

• Provision for Bad Debt Ledger: Select the applicable ledger or leave empty. This is a contra-asset account with a credit balance, used to report the net realizable value of accounts receivable on the balance sheet.