Within the system is the ability to Link Income to either;
- An Asset to which income is derived
- An liability to which income is used to repay
- An Expense to which income is used to pay
- An Savings or Investment plan to which income is directed.
Income can come from a variety of sources and within the Income and Occupational section of your Fact Finder you can elect the type of income a client may hold.
For example, a client may be a computer programmer and this is their main income however they may also have income via an investment property, the system allows you to select which income is being used for what purpose.
In this example an Accountant or Adviser will be able to link an income to the;
- Asset to which income is derived
- Liability to which income is used to repay
- Any Expense to which income is used to pay
- Savings or Investment plan to which income is directed.
Here is an example of using Uber Income as payment for a mortgage
0 Comments