Financials

Introduction

The Financials page is where you record a client’s money picture: what they earn, what they own, and what they owe. Every entry you make here flows into the financial health score on the overview. It also feeds the needs analysis and the forward projections DNA draws for that client.

What the page shows

The Financials page has a main column on the left and a narrower column on the right. One Add financials button at the top opens a chooser with three options: Asset, Debt, and Entity.

Entities

Companies and trusts the client holds. Each row shows the entity’s name and the value of the assets it holds. This section sits at the top of the main column, and you can hide it for a client who has none.

Assets

The assets register lists each asset with its type, its share of total assets, and its current value. The total sits beside the section label. Click a row to open the asset’s detail page.

Debts

The debts register has the same layout, with each debt’s type, its share of total debts, and its balance. Click a row to open the debt’s detail page.

Each register shows its first eight rows. When there are more, a Show all strip under the list opens the rest, and Show less folds them back. A type filter appears above a register once it holds more than one type.

Net worth chart

Once the client has a holding, a net worth chart appears at the top of the right column. A note under it says how far ahead it looks, either a number of years or the client’s life expectancy.

Income and expenses

Below the chart, the income and expenses card shows monthly household expenses and each member’s earned income. Passive income appears once there is some. Editing a member’s income also lets you set their employment type and the growth rates for their income.

Adding and managing assets

Click Add financials, then Asset. Pick an asset type first, since some fields only appear for specific types. The common types are listed first, and the rest sit behind a More types option.

Asset types

Type	Typical use
Cash & Cash Equivalents	Chequing, savings, and money-market balances.
Primary Residence	The client’s home.
Other Real Estate	Rental, recreational, or vacant land, set with the property type field.
TFSA, RRSP, RRIF, LIRA, LIF, FHSA, RESP, RDSP, DPSP	The registered accounts, each with its own type.
Investments (Non-Registered)	Brokerage holdings outside a registered account.
Other Asset	Anything that does not fit the types above.

A business interest is not an asset type. Add a privately held business as an entity. DNA also creates a Policy Cash Value asset for a policy that has one. It follows the policy, so you do not add or edit it here.

Fields on an asset

Every asset needs a name and a current value. Current value must be greater than zero. Owners are set on the same form. These are optional or appear only for some types:

• Tax treatment: taxed as income, taxed as capital gains, or tax-free. Types with a standard treatment do not ask for it.
• Adjusted cost base: shown where capital gains apply, such as non-registered investments.
• Annual growth rate: annual growth applied to the current value in the projection. Accepts negative numbers when the asset is expected to lose value.
• Year acquired: when the client first acquired the asset.
• Property type: on other real estate.
• Annual contribution amount: on TFSA, RRSP, non-registered, FHSA, RESP, and RDSP assets.
• Current annual withdrawal: on RRIF and LIF assets.

Editing and deleting

Click an asset in the register to open its detail page. Edit each group of fields from there, or delete the asset. The page also shows the asset’s owners and any notes attached to it.

Adding and managing debts

Click Add financials, then Debt. The fields follow the same pattern as assets: required basics plus optional detail.

Debt types

Type	Typical use
Mortgage	A loan secured by real estate.
Credit Card Debt	Revolving balances on credit cards.
Line of Credit (HELOC)	A home equity or personal line of credit.
Operating Line of Credit	A business line that funds day-to-day operations.
Loan	Personal, student, or other installment loans.
Car Loan	A loan on a vehicle.
Business Loan	A loan taken by a business.
Investment Loan	Borrowing to invest.
Shareholder Loan	A loan between a shareholder and a company.
Lease	Vehicle or equipment leases.
Income Tax Owing	Balances owed to the CRA.
Other Debt	Anything that does not fit the types above.

Fields on a debt

• Name, debt type, and balance: all three are required. Balance must be greater than zero.
• Monthly payment: optional. Used in the liquidity factor of the health score.
• Interest rate: optional.
• Date acquired: optional, and a year rather than a full date. Shown for some debt types only.
• Tax year: on income tax owing, in place of the acquired year.
• Owed to: on a shareholder loan, the person or company on the other side of the loan.
• Guarantors: optional.

Ownership on group clients

For group clients (couples, business partnerships, households), each asset and debt can be split across members. Ownership is recorded as percentages. On an asset, the percentages cannot add up to more than 100%. On a debt, owners under 100% still save, since the owner rows record who signed rather than how the balance splits, but over 100% does not. Owners can be members, companies or trusts, or an external party outside the group. The registers and the net worth chart aggregate across every member.

How Financials feeds the rest of DNA

Data entered on Financials drives several other parts of the product:

• Financial health score: on the client overview. All four factors (debt-to-asset, liquidity, coverage, diversification) pull from what you enter here.
• Net worth projections: the net worth chart uses asset growth rates to look forward.
• Needs analysis: the report builder pulls income, assets, debts, and linked coverage when it calculates how much coverage a client needs.