MasterPlan has several different types of windows that you can fill out when you are entering client information. We have already introduced you to the client windows.
The third menu item on the Main Menu, Portfolio, contains some very important data entry windows. From this menu item you will enter assets such as stocks or savings accounts, insurance policies, and liabilities.
The Portfolio Menu also includes three common libraries of information that can be shared among your clients. One of these libraries includes Tax/Cash Forms (also called Tax and Cash Flow Forms). You may create Tax and Cash Flow Forms that can be shared by more than one client. In fact, when you create a new client, MasterPlan assigns a “default” Tax and Cash Flow Form (called Default) to each new client.
If you want to create projection reports that include earned income, that take into account the number of exemptions in a family, or that handle carryforward items, then you need to create a unique Tax and Cash Flow Form for each client.
In fact, you may want to create two forms—one for the Base-Line or Present Projection Reports, and one for the What-If or Proposed Projection Reports.
The Tax and Cash Flow Form is a data entry form divided into four sections or tabs. It looks like a grid or a spreadsheet. You may enter various types of information that pertain to taxes or to cash flow or to both in rows. The columns are years. Column 1 is the first year of the projection (such as 1999); Column 2 is the second year of the projections (such as 2000), and so on. Currently, the Tax and Cash Flow Form can stretch out to 99 years or to life expectancy.
No. You do not need to create a Tax and Cash Flow Form that is unique to each client but can use the Default one assigned by MasterPlan if:
You just want to do quick, stand-alone reports,
You don’t care about tracking earned income, or
You just want to enter names and addresses and contact information
No. Here in the Tax and Cash Flow Form, as in other MasterPlan windows, you can always separate items that affect taxes from those that affect only cash flow.
To create a new form, click on Portfolio and slide down to Tax/Cash Forms.
From the Actions Menu, select New, or press Ctrl+N.
Type the name of the form. We recommend that you use the family’s last name and perhaps the first name of one of the clients.
Press the Tab key.
