HOW : Click on an asset in the asset browser, then select 'Realise (collect or sell asset)' from task panel (or right click on asset, select ‘Realise’).
Sell, convert, collecting, call-in, it all amounts to the same thing - we've termed it "realisation". Record the realisation of an asset, or part of an asset holding. If an asset is realised (collected / sold) at a value other than the base value of the asset, the difference is automatically calculated by Probate Plus and the estate value adjusted accordingly.
It is possible to record details of administration expenses directly linked to a particular asset realisation. E.g. a stockbroker's commission on sale of a share holding. To do this, Probate Plus will ask you if there are any expenses after you’ve added the realisation details.
Realisation properties explained...
Enter the date of the realisation.
Enter how many items of the original holding of this asset have been realised. When part realising an asset just enter 0 (zero) as the quantity. Useful when you're realising an assets in slices such as at auction and you don't know how many realisations there will be.
Enter the value that each of the asset holdings were realised for. Probate Plus will work out the value (below) for you.
Enter the total value of the realisation, Probate Plus will work out the item value (below) for you.
Optionally enter any extra narrative to describe the realisation.
Choose a cash account into which to receive the realisation proceeds. If the cash account does not exist, type in a new one and you'll be prompted to add it to Probate Plus. For example if you sold and asset and collected the proceeds into client account, you'll pick "client account" as the cash account.
Put a mark in the checkbox to mark this posting as reconciled - i.e. agrees with the statement on your internal office accounts system or a statement from a 3rd party.