From the toggle menu on the right ("View Menu"), select "Add Cash Flow".
Fields with red labels on the Essentials tab are required. Other fields are optional.
Select from the Income Type drop-down list. There are 3 categories to choose from.
Select Recipient(s) from the drop-down list. More than one can be assigned to an income. Enter percent ownership if more than one is chosen. You can use decimals in the percent fields (ex. 29.5%).
Reference Name - Job title (ex. "Manager"). Other reference names could include "Rental", "Social Security", "Pension", "Allowance", etc.
Source - Company name or source of income.
*Best practice: Use these text fields creatively to show more information if it helps the conversation. For example:
Reference Name = "SocSec@67", Source = "US Treasury"
Reference Name = "Rental", Source = "Which Property?"
*Note: Text fields display up to 17 characters on the Asset-Map, but more can be typed within the field.
*Tip: Be succinct and descriptive to help with the conversation.
Annual Amount - annual income value or expense value.
*Note: This field takes rounded numbers and must be typed, not copy-pasted.
Also note: Expense values will be displayed in red on an Asset-Map report and be encompassed by a parenthesis.
Check Future Value if you know the value in the Annual Amount field reflects an inflated value which will be made available at a later age or date. Commonly, that's Social Security income, but not always.
Start Age - enter future age or date the annual amount becomes available. This may be changed to Date by selecting from the drop-down menu.
*Note: The Start Age defaults to the current age of the recipient (or Primary member in the event that more than one recipient is selected) when it is left empty or an earlier age is typed.
*Note: A future age/date will create the financial with gray text and not be counted in the current income stream. It will look similar to this:
End Age - enter the future age or date the annual amount ends.
You can link the cash flow to an asset, if the asset is already on the Asset-Map, by choosing the asset from the Link to Asset drop-down menu (ex. GMIB income linked to GMIB asset, or rental income linked to a rental property asset).
If the cash flow financial is under your management, take credit for it by checking the box Under My Management.
Trash can = delete the financial from the Asset-Map Report.
Show/Hide toggle = Hides the financial without deleting it. Click here to read more about that feature.
Add Another checkbox = Speed up adding more cash flows by clicking before clicking Save Changes it to open another empty income window.
Cancel = closes the window without saving edits.
More optional information or notes about the financial can be added on the Details and Notes tabs.
Tags: social security, pension, income, expense, tax, distributions, pension, W2, 1099, earned, rental, unearned, onboard, pension