With CAS 360's Trust Events Screen, you can now store and record all asset transactions, liability, gifting, income, and expense transactions for a trust.
This will give you a snapshot of all this information for each trust. Also, as years go by you will be able to add transactions for capital improvements, changes in value and forgiving of loans.
Best of all when any of these transactions take place, CAS 360 will prepare the required supporting documents, which can then be reviewed by your Partner or Manager and delivered by email to your client for electronic signing.
Navigation
From the Main toolbar navigate to Trust
To select a Trust that has been previously set up in CAS 360, simply search and click on the Trust Name from the list.
Select
You will now be directed to the Trust Events Screen
Event Filters
The Event Filters section contains options to either group events by type or to display all events in date order
Users also have the option to filter the Event page by dates
Even filter the Event Trust screen by the Event Types
Event Summary
CAS 360 will Summarise all event transactions values under by the different event types
These totals will also appear on the Register of Trust Events when the report is generated.
Add Events
To enter Events, click
CAS 360 is able to produce forms for a number of events such as:
Asset Transactions
To enter Events, click
Asset Transaction options:
| Asset Acquisitions | Represents the purchase of an asset. |
| Asset Sales/Disposals* | Disposal or Sale of and asset. |
| Asset Capital Additions* | Includes capital costs and improvements to an asset. |
| Asset Revaluations* | Adjust the valuation of an asset. |
*Asset Sales, Capital Additions and Revaluations can only be recorded after recording an Asset Acquisition.
Quick Add Events
After recording an Asset Acquisition, use the Actions icon to record any Asset Sales, Capital Additions or Revaluations that apply to the asset.
Sold/Disposed Assets
CAS 360 will indicate if a Disposal has been recorded for an Asset.
Hover over the icon to view a summary of the disposal
Forms Prepared:
- Cover Letter
- Trustee Minute/Resolution
Gift and Liability Transactions
To enter Events, click
Gift and Liability Transaction options:
| Loans to the Trust | A loan is a form of debt incurred by the Trust |
| Repay Loan* | Payment to cover the total or part of a loan. |
| Forgive Debt (gifting)* | Forgiving a debt means that there is no longer any expectation that the money will be repaid. Forgiving a debt will lead to the loan amount being regarded as a gift. |
| Loans from the Trust** | When the Trust issues a Loan to another party |
| Recover Loan | When the total (or part) of a Loan that the Trust issued has been repaid or forgiven. |
*Repay Loan and Forgive Debt can only be recorded after recording an initial Loan to the Trust.
** Recover loan can only be recorded after recording a Loan from the Trust.
Quick Add Events
After recording a Loan, use the Actions icon to record any Loan Repayments or Loan Forgiveness that applies to the loan.
Recovered Loans
CAS 360 will indicate if a Recovery has been recorded for a Loan.
Hover over the icon to view a summary of the Recovery.
Repaid Loans
CAS 360 will indicate if a full repayment has been recorded for a Laon.
Hover over the icon to view a summary of the Repayment.
Forms Prepared:
- Cover Letter
- Trustee Minute/Resolution
Other Transactions
To enter Events, click
Other Transaction options:
| Income Transaction |
| Expense Transaction |
| Other |
Forms Prepared:
- Cover Letter
- Trustee Minute/Resolution
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