Generating a Balance Sheet for a client
The Balance Sheet shows a client's assets and liabilities projected year by year, from the current year through 40 years into the future. It is generated automatically from the client's Fact-Find data - no manual entry is needed on this page.
Opening the Balance Sheet
Open the client's profile.
Click Financial Modelling.
In the right panel, select the Assets & Liabilities tab.
[SCREENSHOT]
What it shows
The Balance Sheet breaks down the client's financial position into asset and liability categories.
Assets
Savings and cash
Shares and investments
Superannuation
Primary property
Investment property
Vehicle
Business
Liabilities
Home loan
Other liabilities - credit cards, personal loans, etc.
Use the year dropdown in the Assets & Liabilities tab to view the projected balance for any specific year. Hover over any point on the chart to see the values for that year.
Data completeness
The Data Completeness panel below the chart shows what percentage of the projection is based on actual Fact-Find data versus assumed defaults. Fields using defaults are listed alongside the default value being applied.
To improve accuracy, click the link to open the Fact-Find and fill in the missing fields, then recalculate.
Recalculating
After updating the client's Fact-Find, click Recalculate at the top of the Financial Modelling page to regenerate the balance sheet with the latest data.
Default assumptions
Where a Fact-Find field is missing, Prospo fills in the gap using these defaults:
Property growth rate - 4% p.a.
Superannuation return - 7% p.a.
Shares growth - 8% p.a.
Savings rate - 3% p.a.
Vehicle depreciation - 10% p.a.
Home loan rate - 6% p.a.
Home loan term - 30 years
Superannuation guarantee - 11.5%
Defaults are used only when the corresponding Fact-Find field is empty. Filling in actual values will always produce more accurate projections.