How do I add interest on the client cash account, income or receipts?

This article will guide you through how to add and keep track of transactions in to the estate

• Where do I find the area for income and receipts?
• How do I add interest on the client cash account?
• How do I add income related to assets?: 
• How do I add a receipt?: Money received i t the client cash account post death
• How do I add sums received?: Money received after the date of death but before closure of an account
• Where can I view and manage income and receipts?
• What will it look like within the estate accounts export?

Where to find income & receipts 

• Locate the case you wish to add income to – How do I find a case I’m working on?
• Click Income & receipts

• Click +/= Add in the top right

 

Adding interest to the client cash account

• Choose income for the category

• Within Asset type choose Client cash account 

• Once you have chosen Client cash account this will automatically update the Asset* field
• Enter Full income value* 
• Income source* will automatically update to Interest
• Enter all other relevant information and click Save

• This income will show on the Client cash account, Reconciliation and Income & receipts tabs within the estate accounts area. Where can I find this?
• The client cash account interest will also be accounted for within Distributions
• On the estate accounts export it will appear on the Income, sums received & receipts page with the description Client cash account: 

 

Income related to assets

• Choose income for the category

• Choose the Asset type the income relates to from the dropdown menu:

• A list of assets within the type of category you have chosen will appear:

• Choose which item you want to relate the income to
• Enter all further relevant information
• If you have chosen a Bank account, Other NS&I Products, Premium bond, Income bond, Cash savings account or Cash ISA, within Proceeds of income destination, select Asset value and the value will be deposited in to your chosen account 

• If you chose any other asset to associate the income to, for example a building, you will then need to choose if the income went to the Client cash account or Other (if the income was received elsewhere)
• Click Add income
  
  

 

Receipt

• Choose Receipt for the category
• Enter information into all relevant fields 

• All receipts will show as deposited into the client cash account
• Click Add receipt

 

Sums received

• Choose Sums received for the category

• Choose the associated bank account from the Asset dropdown menu
• For the question: Is this payment for pension arrears? Choose Yes or No and this will help us populate the value correctly in the IHT400 form where necessary

• Enter information into all other relevant fields 
• Click Add sums received

 

View and manage income transactions within a case

• Click the Income & receipts section:

• This will take you to an overview: 

 

• To edit an item click anywhere on the relevant item to open, once open make the required changes and click Save
• To delete, click on the three dots to the right of the relevant item and choose Delete

 

View client cash account interest, income and receipts within estate accounts summary and the estate accounts output

• Click into Estate accounts and from there you can view the full menu

• Within Income & receipts you will see the items you have added summarised by category
• Within Reconciliation you will see a total for all income and receipts and a separate total for any income received outside the client cash account
• Within Client cash account, you will see any income deposited into client cash account
• To view the full set of accounts, click Export
• Scroll down to see the Income & receipts page summarising the items by tax year: