This article guides you through how to choose where income after date of death and money ingathered from assets is received and where this will be displayed within estate accounts.
How do I choose where money ingathered from asset is received?
How do I choose where income in to the estate after the date of death is received?
🎓 The income destinations available to choose will change dependent on the type of income or asset chosen. Learn more about how to add income.
How do I choose where money ingathered from assets is received?
- Open an asset
- Go down to the Realised value
- Enter the value and the date received. What's a realised value and how do I update it?
- If the money came straight in to the Client cash account, choose this option
- If the money was received anywhere else, choose Other
- If Other is chosen, a field will then appear for you to free type where the money was received
- For any Money owed to deceased items, you can choose if you'd like to send the value to one of the deceased's bank accounts
👀 You'll see the value of any asset sent to other in the reconciliation tab of estate accounts. Where are estate accounts?
👀 You'll see the value of any asset sent to the client cash account in this tab within estate accounts. Where do I find client cash account?
⚠️ For money owed to the deceased, if you have chosen to send the value to a bank account, you can see the value within the auto calculated realised value field and you need to ensure you calculate this in the realised value you enter for the asset. Realised values explained
How do I choose where income in to the estate after date of death is received?
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Enter income information. How do I add income?
- Within Proceeds of income destination, dependent on the asset, you will choose to send it to either Client cash account, Asset value or Other
- If Other is chosen, a field will then appear for you to free type where the money came in to
👀 Any income being paid directly in to the client cash account will show in the Client cash account and Income & receipts tabs within Estate accounts: How do I find Estate accounts?
👀 Any income being paid into the asset itself can be seen within the auto calculated realised value within the asset tile itself: How do I find the auto calculated realised value?
👀 Any income with destination of other will be displayed on the Income & receipts and Reconciliation tabs within Estate accounts👷 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
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☎️ Call us on 020 8152 2902
✉️ Email us on support@legal.exizent.com