This article will guide you through how to add and keep track of expenses in your case throughout the full estate administration process.
π You can view expenses within the estate accounts summaries and output at the click of a button at any stage of the administration process, providing you and your clients with clear, easy to understand updates any time you need. How do I view estate accounts?
How do I find the expenses area?
How do I add a funeral expense?
How do I add a tax related expense?
How do I add a general, administration expense?
Where can I view and manage expenses on my case?
Where can I see expenses within estate accounts?
Where to add expenses
- Locate the case you wish to add an expense to - How do I find a case I'm working on?
- Click Expenses
- Click Add expense
Funeral expenses
- If adding a funeral related expense click Yes under Is this a funeral related expense?* and choose the Type of funeral expense:
- Add relevant information in to the remaining fields
- Click Save to add the expense to your case
πFuneral expenses are shown in the Liabilities & payments and Reconciliation section tabs of Estate accounts
πββοΈ Funeral expenses will be pulled through to the relevant fields within IHT and Court forms
β If you have chosen to settle the expense from an asset, you will need ensure this is taken in to account on the asset value by updating its realised value and ensuring this matches the auto calculated realised value. See further in this guide for information on settling an asset and see here for further information on realised values
π Funeral expenses are shown on the liabilities section of the estate accounts output
Tax related expense
- If this is a tax related expense, choose Yes for Is this a tax related expense?
- Choose the type of tax from the drop down menu
- Add relevant information in to the remaining fields
- Click Save to add the expense to your case
π° If the type of tax is Inheritance tax, you will have the opportunity to generate an IHT423. See here for further guidance
πTax related expenses are shown in the Liabilities & payments and Reconciliation section tabs of Estate accounts
π Tax related expenses are shown on the expenses section of the estate accounts output
β If you have chosen to settle the expense from an asset, you will need ensure this is taken in to account on the asset value by updating its realised value and ensuring this matches the auto calculated realised value. See further in this guide for information on settling an asset and see here for further information on realised values
Administration Expenses
- For all other general case level expenses being paid out of the estate (some examples: solicitor fees, court fees), simply answer No to the first 3 questions
- Add relevant information in to the remaining fields
- Click Save to add the expense to your case
πββοΈ Administration expenses are shown in the Liabilities & payments and Reconciliation section of Estate accounts
π Administration expenses are shown on the expenses section of the estate accounts output
β If you have chosen to settle the expense from an asset, you will need ensure this is taken in to account on the asset value by updating its realised value and ensuring this matches the auto calculated realised value. See further in this guide for information on settling an asset and see here for further information on realised values
Settling expenses
To settle an expense, at the bottom of the expense choose if the expense was paid by a third party, add the amount reimbursed, the source of funds the expense was paid from and the date of reimbursement. You can add an expense yet to be paid, partially paid or fully paid:
- If the expense has already been settled, you can enter information in all three fields
- If the expense has been partially settled you can record which account the expense was paid from, update the amount paid and leave the date blank
- If the expense is still to be paid you can leave this section blank and update these details later
- If you have chosen that the expense was paid by a third party, you can select from the people already added to your case from the Recipient of the funds dropdown menu
π All settled, unsettled and partially settled funeral, administration or tax related expenses will show in the Liability & payments and Reconciliation section of the estate accounts area whether they are settled, partially settled or unsettled
β The total of any unsettled expenses will show within the expenses page of the estate accounts output
πββοΈ If the person who paid the expense doesn't appear in the recipient of the funds menu when reimbursing an expense, simply add them in the People section of your case as a Creditor. How do I add people to my case?
View and manage all expenses in a case
- Click into the Expenses section from the left hand side menu
- In the Expenses overview page you'll be able to see a useful summary of all expenses
- Edit an expense by clicking anywhere on the relevant item to open, make relevant changes and click Save
- Delete an expense by clicking on the three dots to the right of the relevant item then choose Delete
π‘ The Expenses overview page is a great way to see at a glance which expenses have been paid already and which expenses are outstanding
Where will expenses show within Estate Accounts?
- Click into Estate accounts and from there you can view the full menu
- Once in the Estate accounts section, you can view expenses within Liabilities & payments, Reconciliation, Client cash account and Export
- Export example:
π· Our team are regularly making improvements and adding new features. Some things may have changed since this guide was written as functionality gets even more fabulous. If you need further assistance, please contact the Customer Success team who are always happy to help
π₯οΈ Chat to us through the knowledge base - click the chat icon in the bottom right corner of this page
βοΈ Call us on 020 8152 2902
βοΈ Email us on support@legal.exizent.com