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The Personal Discretionary Income (PDI) in the Credit Memo (CM) takes information from the Personal Financial Statement (PFS) > Personal Cash Flow tab in Ventures and sums the amounts into the respective CM income and expense rows. Below are tables of what rows in your PFS are apart of the amounts in the CM rows. The screenshots provided show the default Ventures PFS template rows. If your site admin has created a custom Personal Financial Template, you will want to reach out to them to confirm the row types.
The Net Personal Discretionary Income (PDI) amount in the Credit Memo will equal Total Income - Total Expenses in CM. The Net Personal Discretionary Income amount should match the PDI amount in your PFS.
INCOME SECTION
EXPENSE SECTION
The tables below provide the Ventures F/S rows within the Personal Financial Statement > Personal Cash Flow tab that are summed together to get the CM amounts. Its describing in words the same thing as the visuals above. If your site admin has created custom PFS on your site using our custom F/S feature, you will want to confirm the row types and labels with your Site Admin in case anything was modified.
| Credit Memo - PDI Income | Ventures PFS |
| Salary/Wage | Salary/Wages row type |
| Interest/Dividends | Interest row type + Dividends row type |
| Rental Income | Rental Income + Int + Dep row type |
| Business Distributions | Business Distributions row type |
| Other (see Comments) |
IRA, Pensions & Annuities row type + Social Security Benefits row type + Installment Sale Income (ongoing) row type + Income - Non Related Entities row type + Other Income row type + Any additional “Income” group type rows added in PFS |
| Total Income | Total Income in CM will be the summation of rows above it. Keep in mind it is using the actual values instead of the rounded amount. The CM total will equal the Total Income + [Rental Income + Int + Dep] row type in PFS. |
| Credit Memo - PDI Expenses | Ventures PFS |
| Taxes | Federal Taxes row type + State Taxes row type + FICA Taxes row type + Real Estate Taxes row type + any additional "Tax" group type rows added to PFS |
| Living Expenses | Living Expenses row type |
| Debt - Residence | Personal Debt: Residence row type |
| Debt - Rental/Investment Property | [Rental Debt Service row type x Coverage Margin] |
| Debt - Other existing obligations | HELOC or Other Mortgage row type + Auto Loans row type + Student Loans row type + Credit Cards row type + Notes Payable to Banks/Others row type + Other debt row type + Any additional "Debt Service" group types added in PFS |
| Debt - Proposed new personal debt to be incurred in connection with this project (i.e.. Home equity loan) | Proposed new debt row type |
| Other (see Comments) | Any additional "Expenses" group types added in PFS |
| Total Expenses | Total of all row amounts listed above in CM. Keep in mind it is using the actual vlaue instead of the rounded amount. There is no equivalent total in Ventures. |
