This current version 2.3.9. Started from version 1, and every digit counts. Please check this website regularly for upgrades.
When was this program developed?
The program was developed initially in 1997. At that time it had mainly the budgeting features where you can create a budget, enter actual transactions, and monitor how well you are doing. In 1999, the Debt Reduction Plan was introduced to help people in reducing their mortgage by moving to a line of credit account. In 2000, the Investment Plan was introduced to help people generate wealth through property investment
I am finding it hard to enter the correct number in the amount fields
First, please do not enter the coma (,) when entering digits. The program will format the field and insert the coma where appropriate. Simply enter digits and the decimal point (.) only in numeric fields.
Second, do not click with the mouse in the middle of the field. If you do the program assumes that you want to insert a digit at that point, instead of replacing the whole number. If you want to use the mouse then double click on the field until it is fully highlighted. Once highlighted type in your number (no coma, only digits and decimal point.)
Alternatively you can right click on the field, and a small calculator will appear. Type your number there, click on equal (=), then click on Ok.
In some reports, the rental income is showing a different number than the one I entered.
The income figures shown on the reports is the Net amount after tax. On the Income screen, the program calculates the tax amount applicable for the earner and deducts that amount from the Gross amount to give you the Net amount.
If you want the reports to show the full amount (no tax deductions), then go to the Income screen, and click on Net instead of Gross option.
No. The Rental Income is the income after the tax deductions only. If you don’t want the tax deduction to be considered, then go to the Income screen, and click on Net instead of Gross option
The Net figure is only updated after you click on Save and save the record. The reason is that the program adds all your income from other records to determine your tax bracket, and subsequently deducts the appropriate tax amount.
The Credit Card report does not show any expenses, though I entered many expenses which are paid for by Credit Card.
The Credit Card report shows your payments to the bank. If you want to print the expenses then use one of the Expenses report
To borrow 105% of the value of the investment asset, means an extra 5% is lost from your equity. If you are investing in property, and assuming the bank uses an LVR (Loan to Value Ratio) of 80%, then you have to set your LVR to 75% (80% – 5%). This of course will reduce your borrowing capacity, but you get the benefit of not having to come up with cost of purchase from your own funds
Can I use different types of assets in planning my investments?
Yes you can. When you are on the Investments page in the Investment Plan screen, you can change the type of the asset, either in the list or in the fill in section at the top. Note that when you change the asset type, the LVR (Loan to Value Ratio) also changes. The change in LVR can impact your borrowing capacity quite substantially.
Also you can choose to change the LVR for every particular asset to suite your needs. For example if you are borrowing 106% of the value of one of the investment properties, then set your LVR to 74% for that property. This means every asset can have a different LVR within the same Investment Plan.
You can not change the Tax Brackets yourself. Please send us an email requesting the tax file for the New Zealand tax system. We will promptly send you one with instruction on how to install it – no charge for this service.
When I print preview the Loan Application, I get the following error: (OLE error code 0x8004006d: Object doesn't support IViewObject interface). How can I fix this problem?
The cause of this error is from Norton Anti-Virus script blocking when it is enabled.
To resolve this problem, follow these steps:
In Norton Anti-Virus, click Options , then select Script Blocking .
Clear Enable Script Blocking and close the dialog box.
How do I track the rent from my properties?
Rent is Income. You can track your actual income transactions from any asset you have.
I assume you have entered all you your property details under Assets, and defined the Income Details from each one of them. If so, then you are only 4 clicks away from tracking your income:
When you actually receive the income/rent,
Click on the [Income] word on the Front Screen,
Click on [Show Actuals] on the Income List screen,
Select the income record for which you received the income, then
Click [ADD] on the button next to the lower grid.
That’s it. Just make sure the date and amount are correct and you are done.
At any time you can print the report “Actual Incomes By Asset Name” to see all the money you received from each asset.
The same process holds for expenses.
This is because you did not link the income records to their related Asset. To do so, on the Income Details screen for each income record make sure you select the correct “Related Asset” that produces the income. To get to the Income Details screen:
Click on the [Income] word on the Front Screen,
Select the Income record you want,
Click on the [Edit] button
The “Related Asset” is the last field on the screen. Click on the arrow to select the related asset from the drop down list.
The same holds for expenses.
The
Power
Over
Money
Frequently Asked Questions