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dela.dzadey's avatar
dela.dzadey
Icon for Advisely Board rankAdvisely Board
5 months ago

AMA: We’re Dela Dzadey and Lana Graham, paraplanning and Xtools experts, Ask Us Anything!

Got a burning question? Join us here on Wednesday 22nd May from 2pm to 2:30pm.

For those who don’t know us, I’m Dela Dzadey, director and advice manager at TNT Group, helping bridge the efficiency gaps in advice production for advisers and paraplanners. lana.graham is the Xtools product manager and resident expert at Iress, and we’ll be hanging out here to answer any questions you have. In the meantime, you can start popping your questions below and Ask Us Anything! 

Update: This AMA has now ended but please continue to pop your questions down below or in the discussion forums and make sure you tag me at dela.dzadey or lana.graham 

 

  • Hi lana.graham , i have a question for company projections in xtools +. What is the best way to show these? from company financials. Is there any tutorial how we go about it?

    • anthony.derriscott's avatar
      anthony.derriscott
      Icon for Iress Team rankIress Team

      Hi deepika.deepika ,

      You can set up a Company in Xtools+ by:

      1. going to Input > Basic Details and the Entities section, where you can model up to 3 Company entities.
      2. For each Company entity you will need to navigate to the Input > Company screens to enter the company details (if you have access to Iress Learning Centre then see pages 64 to 67 of  this guide).
      3. With the Company set up you can then complete your modelling as required.
      4. To view projected information, simply navigate to the Display > Company screens eg. Consolidated or Taxation etc. (see pages 104 to 108 of the guide). Each of these screens allow you to download a PDF version of the information you are seeing on screen through the PDF button that is in the top right of the screen.

       

      Should you need to have any of the information on screen formatted in a certain way or into a report, then you would need to create an Xmerge document (a coded document) that could then extract whichever of the projected fields you wish, to create the document as you require.

      If you have access to the Iress Learning Centre, then this eLearning course will take you through how to model a Company entity using Xtools+, and this coding guide gives an introduction to using Xmerge coding.

    • rainier.reyes's avatar
      rainier.reyes
      Icon for Advisely Team rankAdvisely Team

      Thanks for your question deepika.deepika !

      I worry your post might not be easily visible to the rest of the community as this is an old AMA thread. Would you mind posting it again as a new thread here?

      All you need to press is 'Start a Discussion' at the top of the page. Let me know if you need assistance!

    • anthony.derriscott's avatar
      anthony.derriscott
      Icon for Iress Team rankIress Team

      Hi Asini.Pathirage69456 

      I can jump in here and thanks for your question!

      Within Xtools+ you navigate to:

      1. Input > Individual > Assets > Property and add the property and enter the relevant details in the 3 tabs (Property Details & Acquisition / Growth, Rent and Expenses / Property Disposal).
      2. Then navigate to Input > Individual > Liabilities > Loan Details and add the loan, ensuring you enter the loan details in the other pages too, eg. Rates and Fees / Repayments / Drawdowns / Associate.
      3. Within the Display pages, you will then be able to view the cashflow and tax projections.

       

      More details on entering property information can be found in the following Iress Community article: CALM Xtools+ Property 'Remodelling'

      I hope this helps!

      • Asini.Pathirage69456's avatar
        Asini.Pathirage69456
        Visiting Enthusiast

        Thanks Anthony,

        So I have added screenshots below,  I dont see the tax deduction on the loss coming through.

         

  • JA's avatar
    JA
    Curious Observer

    If I wish to establish a minimum pension payment for a client, with the deficit cash flow initially being allocated solely to him for the first 10 years, after the10 years, all Deficit cashflow will be allocated to him and his partner pension payments 50% each. how to do it on projection cashflow?  

    • JA's avatar
      JA
      Curious Observer

      sorry, I am talking about the pension payments from Account Based Pensions, not age pension for Deficit cashflow allocation

       

  • lana.graham's avatar
    lana.graham
    Icon for Iress Contributor rankIress Contributor

    Hi JA ,

    At the moment the Deficit settings for pensions can only be set in one stage, so I'd model it using the Expend payment option for the pensions. 

    1. For the first 10 years, set the client's payment to expend and the partner's payment to minimum.
    2. After 10 years, set both the client and partner payments to expend. 

    Here is an example of the partner inputs below - however I set it to change after 5 years (when there is a pension balance > $0).