Frequently Asked Questions

Frequently Asked Questions


Cashflow & Capital

The Midwinter SOA template provides the Cashflow and Capital outputs for years 1-5, 10 and 20 as default.
 If you require additional years, please generate the Cashflow and Capital report and specify the projection years required. See example of format below.



How do I reset my Cashflow & Capital modelling?

To reset your C&C modelling, you need to navigate to client > fact find > personal details and open up the Client Admin button on the right of the screen. Here you have the option to reset C&C. Please take note of the warning prior to deleting your C&C modelling, as this process will permanently delete all existing scenarios.


The modelling assumes the client stops work at their retirement date and is no longer receiving employer contributions. Therefore, the accumulation account by default is no longer active and the full balance is rolled over to commence a pension at retirement date.

 However, you can still make transactions in the client’s super (accumulation) account past the retirement date, without changing the retirement date.
 
To make concessional contributions past the client’s retirement date, click Transactions then select ‘Regular concessional contribution’. Change the ‘End’ date to the later date as required. Once this later date has been selected, it will flow through to ‘Concessional (bank account).

 Similarly, to make a non-concessional contribution or withdrawal, select ‘Regular non-concessional contribution’ and change the ‘End’ date to a later date as required. This will enable transactions for both ‘Regular non-concessional contribution’ and ‘Non-concessional/withdrawal (bank account) up to the selected ‘End’ date.



My client is being charged the Medicare Levy Surcharge incorrectly as they have private health insurance in place. How do I turn this off?

To remove the Medicare Levy Surcharge (MLS) you need to navigate to Fact find > Personal details and tick on that your client has active private health insurance. This will correctly adjust the tax calculations for your client.


Contributions


Why are my client’s employer contributions not in line with the legislated minimum?

The rates used in the scenario are current at the time the scenario was created.

 So if you are using a previously created scenario where the rates are set for the previous financial year, you will need to update the rate manually. To do this, click the edit button in superannuation (for each client) and change the super guarantee rate.



Why is the Government co-contribution not showing?

The minimum contribution of $1,000 must be entered as a non-concessional contribution.
 
The client must also be eligible to receive the government co-contribution. To demonstrate eligibility, the client’s superannuation account must receive Super Guarantee contributions.
 If your client is self-employed, you can set the SG Salary to Manual (edit super) and add super salary manually via Transactions.

If the contribution cell is highlighted yellow, this indicates you are nearing the full contribution cap. If the contribution cell is red, this indicates the contributions cap was breached.

To limit contributions to the respective contribution caps and prevent any breach of the concessional contribution caps, you can select these settings via the edit button in super.

Please note the output for the current financial year is shown on a pro-rata basis.

The available concessional cap is shown for full financial year but does not reflect SG made year to date so actual available concessional may be less.

Entities


How do I add a company/SMSF/Trust in my scenario?

(i)                  Existing entity

 In the Settings page, under the Settings heading, click Included entities.
This will bring up a list of entities entered in the Fact Find 



(ii)                  Entity for modelling purposes only

1.       Navigate to Main Menu>Modelling>Cashflow & Capital>Settings.

2.       In the General settings section, click Manage entities.

3.       Click +Add – Company, Self-Managed Super Fund or Trust.

4.       Enter name and risk profile, if known. Click Save.

5.       Click Included entities button located in the Settings section.

Note: entities not saved in the Client Fact Find and created in Cashflow and Capital will appear with (modelling) in the name.

Tick entities to be included then OK.

Company
Select “Companies” in the left-hand side menu. Under shareholders, you can amend the interest (%) for each shareholder(s).
To amend their interest in future years, select the 3 dots and amend accordingly.


Trust

Select “Trust” in the left-hand side menu. There are two tabs; beneficiaries and contributions. In each tab you can amend the interest (%).

 To amend their interest in future years, select the 3 dots and amend accordingly.


    • Related Articles

    • Frequently Asked Questions

      Fact Find Personal Details How do I add a spouse? (i) Spouse is existing client Select the client then navigate to the Main Menu > Client > Client Actions > Client Actions. Under the heading Actions, Select ‘Partner’ in the drop-down menu. Search and ...

    • Frequently Asked Questions

      General FAQs Do the AdviceOS modelling modules use Monte Carlo simulations? The AdviceOS calculators do not use Monte Carlo simulations. The calculators are deterministic, meaning that it they will provide an exact value in the future rather than a ...