Assets Overview

The Assets section allows you to record client assets including property, managed funds, shares and business interests.

The Assets section is made up of a single panel where all existing assets within this scenario are recorded. 

A CREATE NEW ASSETS button is also displayed under the panel enabling the creation of new assets.

To edit an existing asset, click on the relevant row.  

To delete an asset, click the garbage bin to the right of the row.

Adding a New Asset

To add a new asset, click the CREATE NEW ASSETS button.

You will be then be taken to the ADD ASSET page. 

Select the Asset Type from the dropdown menu. Assets to choose from include:

• Private and Investment Properties
  
• Australian and International Shares
  
• Australian and International Managed Funds
  
• Business Interests
  
• Livestock
  
• Private non Property (assets such as cars, boats, home contents) (these assets are not included in LVR calculations)
  

After selecting the asset type, click NEXT. 

The following screen displayed is the ADD ASSET DETAILS screen. 

• Ensure all fields with REQ next to the title are completed. 
  
• Click ADD when completed to save the details.
  

If there is any debt associated with the asset, you will need to add the Current Debt Funding, after you have clicked ADD on the Asset Details - see screen below:

SOURCES OF CAPITAL / CURRENT DEBT FUNDING.

By scrolling downwards, AFTER you have clicked ADD to save the Asset Details, you will see the Current Debt Funding Details (as shown in orange in the diagram below).  This is where you link the loan account you earlier created on the Accounts screen to the Asset.  By doing this, if the asset is ever sold, the system will automatically pay out any debt associated with the asset.  

Enter the Loan Balance, and the Loan Account that is associated with the Asset.  

As this asset is already owned, there is no need to enter details of any Cash which was used to purchase the property.

Note:  The question "Keep?" simply means do you want to keep the entry.  If you want to remove the entry, click on the dropdown menu and select "No".    

You may have noticed there is no "BIN"icon on this screen.

Link to Next Article - Add a Private Property Asset

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