Explaining Add Period Dates

As of Date

This is the date you collected the financial information and is typically less than 120 days from when the application will be submitted. 

• Flows to the 413 and the credit section of the credit memo. 
• This date will shows as the Period Header

Tax Period End

This date represents the date of their personal tax return information.

Include in Cashflow*

Selecting this box is ONLY going to impact the Primary Operating Company financial statement.  If the checkbox is checked it will take the discretionary income and apply it to the Primary OC’s Personal Excess Cash line.  If only one year is checked it will apply that amount across all years.  You may check the box for each year, should there be a variance and you want that year to be applied directly.

Include in Credit Memo

Only one year should be checked and it will be up to the user to make the choice and verify only one is selected.  Typically, it should be the year that includes the most updated Personal Cash Flow data. 

• Flows to the Personal Discretionary table in Memos 

Please note: For Personal Financial Statements, the options above do not mean the Personal Financial Statement you are creating will appear as an option on the screen where a credit memo is generated. The information from the financial statement will be inserted in the credit memo in the section dictated by the checkbox you have checked. As long as you check the check box, the information will be included in the section dictated by the checkbox.

Copy Values From

If a period has been created and you want to copy it you have the option of using this new feature to copy an already existing period

*Note:  With the introduction of Global Cash Flow, lenders may choose to not even use this Include in Cash Flow line as that is technically what the Global Cash Flow will be doing.  Its purpose is to show each entity and individual on its own and then the overall impact at the end.  Should you elect to include in Cashflow at this level, Ventures will back it out when it generates the Global Cash Flow, otherwise, it would be counted twice in the final calculation.