Entering data

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Each projection and transaction allocated to an asset will appear on the EOS reports.

A database setting will enforce asset allocation.

The asset value (ERV Low) is used to calculate the projected asset realisation amount.

The reports will use the projected amounts unless the actual amounts exceed the projections.

Entering the Appointor Creditor

The EOS reports are populated from the point of view of the appointor creditor.  That is to say that the asset values are calculated after taking into account any charges that apply to assets ranked higher than the appointor creditor.

To specify the appointor, from the General > Appointment tab. Click the ellipsis at the end of the method of appointment:

Enter the Appointor:

When entering creditor claims and charges against asset, make sure that exactly the same counterparty is used as the creditor.

Entering Assets

On the Financials > Assets tab enter property assets.

Ensure you allocate creditor claims against assets using the charge allocation.

Entering Assets subject to VAT

If you want to recognise that an asset is subject to VAT when sold, use a default asset account that has the default VAT code set.  The asset realisation projections will automatically include VAT.

Entering Projections

Projections are entered net (excluding VAT) and the default tax rate for the account (specified in the job’s chart of accounts) will be used for calculating VAT on projections.

Enter Asset Level Projections for each account and allocate the projection for each asset.

Enter projections from the Financial > Position tab.

Entering Transactions

The net amount of any transactions allocated to an asset are included as the actual amounts reported to the lender.

Entering Transactions

The estimated future amount is the residual projected amount after considering the actual transaction amount. I.e. the estimated future amount is:

Projection less actual

If the actual exceeds the projection then the estimated future amount is zero.

Once an asset is fully realised the carrying value for an asset is reduced to the total realised and the surplus of the asset value is zero.

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