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Overview
Expenses in Cashflow 2.0 are automatically populated with data entered in Fact Find > Expenses, including lifestyle, discretionary, and non-discretionary spending. This ensures that the client’s existing financial situation is fully reflected in the Cashflow module without the need for duplicate data entry.
Manually added expenses complement this data, allowing you to model new or future expenses and create scenarios that reflect their recommendations. This functionality is essential for generating actionable, client-specific advice, such as the financial impact of additional costs, changes in lifestyle, or adjustments to discretionary spending.
Access
Expenses in Cashflow 2.0 can be found within the Cash Accounts tab, to access the Cashflow 2.0 Cash Accounts tab, open a client record, hover over the Cashflow tab, and select Cashflow 2.0 from the drop-down menu.
Open an existing Scenario or create a new one by selecting the blue Plus+ button, entering a Scenario Name, and ticking the available setup options.
The Cashflow 2.0 landing page will open directly on the Cash Accounts tab in the Overall Position if the client is partnered, or on the Client if they are unpartnered.
The Overall Position provides a unified system for managing cash flow for both the Client and Partner.
By consolidating income, expenses, and transactions into a single sheet, it simplifies tracking for multiple income streams and superannuation. This approach allows for efficient management of surpluses and deficits while supporting shared financial goals.
The centralised system enhances financial planning by making monitoring, analysing, and optimising cash management easier.
You can view individual values for the Client, Partner, SMSF, or any Business or Trust entities, and their Superannuation Accounts by selecting options from the drop-down menu.
📌Note
If the client is unpartnered all the options will be available from the main sheet, and additional entities such as Trusts or Businesses will be found within the dropdown
This allows you to isolate and analyse specific financial data for each entity, ensuring a clear and detailed understanding of their contributions and cashflow dynamics.
Expenses will show within the cash Accounts Tab under Outflows.
Adding Expenses in Cashflow
Expenses can be added by selecting the Plus+ button from the bottom right corner of the Cash Accounts tab.
For entities like trusts or companies, the Plus+ button in their respective cash account sheets will also provide access to the Expenses form.
You can also add Expenses from the drop-down options within the Add button at the top right of the window, regardless of the tab you are working on.
Selecting either of these options will open the Add Expenses window.
Super Expenses
Superannuation-related expenses can be added directly from the Super Sheet or the SMSF Sheet. The option is available using the Plus+ button on these sheets.
Expense Window Fields
Amount | Enter the recommended expense value in this field. |
Future Value Toggle |
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Tax Deductible Toggle |
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Owner | Use the dropdown to assign the expense to a specific owner:
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Expense Type | Select the relevant type of expense:
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Start From | Set the start date for the expense entry using the following options:
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Till | Specify the end period for the expense entry. Options include:
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Growth Rate Type | By default, expenses are indexed to AWOTE (Average Weekly Ordinary Time Earnings). You can change the growth rate to:
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Offset Age Pension | Enable this option to reflect the impact of the expense on Age Pension calculations. |
Description | Use this field to provide a clear description of the expense, making it easier to identify its purpose or source during scenario reviews. |
How Added Expenses Are Reflected
Once you have added the new Expenses to the model you may view them in two locations within the cashflow scenario:
Cash Account Sheets |
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Taxation Sheet | Tax-deductible expenses flow directly into the Taxation Sheet for accurate tax calculations. |