Reference documentation

• Conservator Account Forms - Azcourts.gov
  The web site provide the necessary form in PDF and Excel for accounting and budgeting reporting. 

How to

• Starting an Income/Expense accounting  
• Video Tutorial Budgeting and Financial plan

Program Images and specific instructions

Accounts table

You can customize the accounts table by adding assets and liabilities accounts as required.
Liabilities accounts the amounts are in negative.

• The column Form contains the associated number of the Form, 2-12 means Schedule 2, line number 12.
• Cost Center CC1. Is used to identify change in Cash that need to specifically reported.
  • When entering transactions in Column Account use the cash account (cash/bank)
  • Positive balance mean that there have been an increase of cash.
  • Negative balance mean a decrease of cash. In the form it should be reported without the negative sign.

Categories Table

In th categoires you specify the account for Income and Expenses (Profit and Loss).

Transactions Table

You enter  the daily transactions.

• Doc is the reference to the document.
• CC1 is the cost center that is used to identify spcific cash transactions.
  When you use the CC1 in the column account enter the Cash account.

Budget Table

Here you can plan for the future.
For recurring expenses or receipt Enter budget transactions with the repetion code.

Year end reports

Menu Account1->Enhanced Balance sheet with groups.

Track expenses, incomes, property revenues for the accounting for a California's Conservatorship / Guardiansheep  (based on Form GC-400, GC-405).

Reference documantation

• Handbook of Concervatorship - Joudicial Council of California

We show here a complete new approach for creating retirement plans.
We use the advanced budgeting functionalities of Banana Accounting software, to create highly sophisticated accounting projection for 30 or more years.
For each projection year you will know exactly the assets, liabilities, income and expenses.

If you use Excel for calculating retirement planning, it may take you some time to get into this powerful new concept.

Projections file

The projections file is a Banana Accounting file.
Here we use the Income and Expenses accounting method, where transactions amounts are entered as income and expenses.

Table Accounts

The table account is used for:

• Setting up the accounts. 
  There is an account number (here we use text), the description,the group of the account (column Gr).
  You should add accounts as required by your situation.
• Entering the opening amounts of each account.
  You should enter yours amounts.
• Setting up have groups, where account and groups are totalized.
  We have the groups Assets (A), Liabilities (L) and Net Estate (A-L)
• Showing the calculated amounts.
  We see that will be the Budget of the End of the year.

The table account also give an immediate financial overview.
At any time you can add new accounts (simply add a new line) or change the grouping.
 

Table Categories

The Categories table is used to specify the Income and Expenses categories.

• You can adapt the categories and grouping to your specific needs.
• You immediately see the updated amounts of the year budget.
• We also have setup a cost center to keep track of the withdraw from the Portfolio to the Bank account.

Table Budget

In the Budget table you enter the detailed retirement plan.
This template has only 20 transactions, so that you can modify and save also with the Starter Editsion.
With a licensed version you can insert an unlimited number of budgeting transactions.

Here we have some explanation regarding the budget transactions, for more information see the documentation relative to the budget table.

Here you will enter the transactions to exactly much your situation.

• Monthly expenses and income.
  • We have choose the 20. of the month, but it may be any day within the months.
  • Repetition is "M" for month.
  • Income and expenses amounts.
    We have entered amounts based on typical American retirement disbursement.
  • Account.
    Is the account where the money come from or goes to.
  • Categories.
    Is the expense or income or the contra account when moving money from two accounts.
  • Total is the projection for the accounting period.
    In this example is the amount multiplied by 12 months.
  • CC1
    Is the cost center column.
• Year end expenses.
  • Repeat is *Y".
  • Formula to let Banana software automatically calculate.

Formula transactions

Formulas are written in Javasctipt 5 language using the Banana Accounting API.
Formulas are quite powerful, but require some knowledge to use it.

Interest calculation on the mortgage

We let the software calculate the exact interest and the amount is payed with the BANK and is recorded as "INTEREST"

  -budgetInterest("MORTGAGE", -3.0,"YC")
  

• budgetInterest calculate the interest (365/365) based on the period balance. 
  It takes following parameters
  • Account "MORTGAGE"
  • Interest rate 3%
    Minus sign means calculate interest on the credit balance.
  • Period
    "YC" Year current. In this case from beginning of the year up to the end of the year.
• "-" sign at the beginning.
  We invert the amount, so it goes in the Expense columns

Revenue from your portfolio

End of year you we register the amount earned from the portfolio.

  budgetBalance("PORTFOLIO1")*0.03
  

• budgetBalance formula
  takes balance of the account.
• multiply by "0.03" or 3%.

Withdraw form portfolio

End of year we move the amount from PORTFOLIO1 account to the BANK

  withdraw("PORTFOLIO1",  6000)
  

• "withdraw" is a Used defined function that takes as parameters
  • Account
  • Amount (without)

The "withdraw" function is defined in the Documents table within the "_budget.js" document.
It return the amount to withdraw only if the balance is positive and up to the maximum amount of the balance.

Banana Projections calculation

Based on the entered transactions Banana does all necessary to project the amount for the period requested.

Reports

Here are the report you can have

Account card Bank

Like in normal accounting, here you can have the account relative to the budget transactions.

Account card Portfolio1

Here you see the evolution of the Portfolio 1 account.

• Each year you have transactions for income and a withdraw.
• The progressive Balance get lower.

1. Year

Menu Account1->Enhanced statements with groups->Plan 1 year

• Balance sheet at the end of the year
• Income and expenses of the first year

5 Years Estate projection (Balance sheet)

In the following image, you see the balance sheet projected over the 5 years period, with subdivisions for 1 years.

• The portfolio account getting reduced each year.
• The mortgage being reduced over the years.
• We have not yet entered any transactions for the Furniture, Arts, Car and Home, the amount remains the same.

5 Years Income and Expenses

Here we show a projection of the Income and Expenses over the 5 years period, with subdivision for each year.

• Income is smaller each year because there is a withdraw from the portfolio that make the revenue smaller.
• Also the mortgage interest is smaller, due the amortization of the loan.

5 Years Withdraws

With the cost center, we keep track of the amount taken from Portfolio and put on the bank.
We consume the capital.

30 Years Estate projection

In the following image, you see the balance sheet projected over the 30 years period, with subdivisions for 5 years.

• You see the bank account going negative
• The portfolio account getting depleted after a number of years.
• The mortgage being reduced over the years.
• We have not yet entered any transactions for the Furniture, Arts, Car and Home, the amount remains the same.

30 Years Income and Expenses

30 Years Withdraws

With this accounting plan you can categorize transactions for private or business.