Generating a Balance Sheet for a client
The Balance Sheet projects a client's assets and liabilities year by year, from the current year out 40 years. It generates automatically from the client's Fact-Find - no manual entry needed on this page.
Please note that Financial modelling is an experimental feature. To enable this, Go to user settings(Top bar -> user icon), scroll to the bottom of the page and enable experimental features.
Opening the Balance Sheet
- Open the client's profile
- Click Financial Modelling
- In the right panel, select the Assets & Liabilities tab
What it shows
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 uses 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.