Create Entity
Clicking the Tools menu, then Actions, then Entity
Clicking the action icon (3 dot icon) on the Member pane on the Household Summary page
Clicking the Members page option on the Tools menu and select New Entity from the Members & Entities list page
Enter Data on the Three Tabs
The Essentials tab is required, the other two tabs are optional (but valuable to complete).
Notes can be viewed as a Report on the household's Reports page.
Special Feature: highlighting notes on the Notes tab provides you with formatting options and a web linking option.
The Member/Entity list is a Report on the household's Reports page called "Member Inventory".
How Linked Members Works
This field is optional.
Scenario 1
Mirror assets from an entity onto a member
If it is advantageous to display all assets assigned to the entity onto a household member (like the owner(s) of the assets assigned to the entity), select the member or members whom to link to.
In addition to the normal asset tile on the entity, a yellow tile will appear on the members' or entity's map. The full value of the asset will be displayed for all linked members.
The value of the asset will be added to the total value of assets on the member's map.
The asset will not appear nor be added onto the member's balance sheet report.
Scenario 2
Display percent ownership of a sub-entity's financials
If it is advantageous to display the assets on an owner(s) map as a percentage of ownership of those assets (for example a trust is part owner of a business' assets), click the "Assign Entity Ownership" checkbox and assign the percentages of ownership. There are other benefits associated with the Entity Ownership feature. More on the Assign Entity Ownership feature here.
Delete Entity
Click the trash can icon to delete the legal entity (cannot be undone).
Or, click the trash can icon on the Members page.
Click Update or Create to finish your work or click Cancel to close the edit window without saving.
Restore
Recover mistaken member or financial deletions from the Household's Details page. Recover deleted items for up to 30 days.
Edit a Legal Entity
Edit a Legal Entity by clicking its avatar on the map, or the pencil icon or "Type" name on the Members page.
4/2024