What is a Tracked Account?

Tracked Accounts are the accounts that you wish to track in your Track to Plan Reports (the real bank accounts).

Tracked Accounts apply to every scenario within the client.  Modelling Accounts only apply to the individual scenario they are created in.

The characteristics of Tracked Accounts are that they require:

• An Account Owner
  
• A Credit Limit (if it is a Loan Account)
  
• An Account Number and BSB (if you wish to draw fees via the Prospera Direct Debit system)
  

For a standard Prospera client, you generally need the following set of accounts:

• PLOC (Private Line of Credit)
  
• ILOC  (Investment Line of Credit)
  
• ML   (Margin Loan, if applicable)
  
• Cash Account 
  
• Superannuation Account for each client
  
• Pension Account for each client
  
• Credit Card   (if applicable)
  

You can consolidate multiple accounts of the same type when modelling, but track them individually (if you choose).  

FOR EXAMPLE:

We recommend that you consolidate multiple Cash Account balances into one Modelled Account when you create your model.  You can then choose to report them in your Track to Plan report as a consolidated Cash Account, or you may prefer to report each Cash Account individually in the Track to Plan Reports; similarly with Credit Card accounts.

Conversely, many Modelled Accounts within a scenario can be linked to one Tracked Account.

(eg. all credit cards may be listed within the Scenario, but linked to one Tracked Account for monthly reporting / Tracking).

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