How do I prepare asset values for estate accounts?

Ready to prepare estate accounts? This article will guide you through how to finalise figures within assets

Realised Values

• Ensure all assets are added with date of death values. How do I add assets and liabilities?
• When money is received in for an asset, put the value in to the Realised value field of the related asset, add Date realised funds were received and add the Proceeds of income destination

• If there are income and expenses after date of death related to the asset, add these in and then go back to the asset and update the realised value. Here is a guide on how to add income and here is a guide on how to add expenses

• Below the Realised value(£) field which the user updates, you will see the system prepares an Auto calculated realised value

• The Auto calculated realised value is based on all of the estate information you have entered and should be used as a guide to ensure that what you have entered in to the Realised value field matches what the system calculates. If the Realised value you have entered does not match the Auto calculated realised value as you would expect, then there is a discrepancy to find. For example an income accidentally missed and not added to the platform

Proceeds of income destination

• If the ingathered value of an asset comes in to the client cash account, click this option

• To view this within the the estate accounts area, Click in to Estate accounts on the left hand side menu bar

• Click Client cash account on the left hand side menu within Estate accounts where you will see the value recorded

• If the ingathered value was received somewhere else, at the moment choose that it goes to Other

• This does not specify exactly where it goes to at present (we're working on it!) and we advise you to send it to destination Other and then update the estate accounts summary to include a note about where proceeds of income with a destination of other have gone to. For a guide on how to update this summary, please see here
• To view this within the the estate accounts area, Click in to Estate accounts on the left hand side menu bar
• Click Reconciliation on the left hand side menu within Estate accounts and view the value within Distributions against Proceeds of income with destination of other 

• You can produce a set of Estate Accounts on the Exizent platform at any stage, please see here for a guide on how to do this