Entering expenses and setting priority levels – UK

To add an expense, select the (+) while on the Dashboard screen and then click Expenses.


Different types of expenses

  • Recurring Multi Year Expense - Expenses recur starting and ending with a pair of events selected on the Timing tab (e.g., yearly living expenses) 
  • One-off Single Year Expense – An expense connected to a single event on the Timing tab (e.g., a wedding, a large expensive purchase)
  • Legacy Expense – This special type of expense is for scheduling future gifts and charitable giving (e.g., gifting monies to your grandchildren, annual campaign gifts)


The types of expenditure (multiyear, single year, legacy) are indicated on the Dashboard when entered.


Once you select your preferred expense type, you will find a prioritization slider within the Basics tab. This slider allows for expenses and goals to be reviewed and reprioritized at any time, at any point in the planning process.


This slider can be used at any time for any type of expense or goal to review and possibly change its priority.

The priority slider has calibration points beneath each priority level, allowing you to set an expense or goal by broader level, as a basic (high), leisure (medium), or luxury (low) level goal overall.

Within these three broad priority levels, you also have the option to further specify whether a basic expense, for example, is a high, medium, or low-level essential expenditure. The software will then follow prioritization as it fulfills future annual expenditure.

Note, Custom Priority Levels – The prioritization slider has been designed with customization in mind. The names of expense priorities could be customized for enterprises, aligning them with the terminology you use when discussing goals with your clients.

Example of Entering an Expense

Let's say, for example you would like to enter your clients’ annual charitable giving.

  1. Put the expense in the name of the person or persons responsible for it
  2. Enter the name you would like the expense to be listed under (e.g. Annual Charitable Gift)
  3. Enter the Monthly or Annual amount
  4. Since this is not a basic expense the priority level should be adjusted accordingly (It is up to the individual adviser to determine if an expense is Basic, Leisure or Luxury)

Once you have entered the basic information move to the timing screen.


From the Timing screen you will notice that the Expense will automatically schedule to terminate at the mortality event. While on this screen you can leave that as is or link the start and end events to different events on the timeline. Once completed click Done to save. 


To change the start or end timing, click an event on the timeline or add a new one, and select Set as End Event.


You can also use the Steps feature to model these expenses stepping up or down over time.

Once you've clicked Done you can access the expenses from the Dashboard. Amounts will be listed as annual on the Dashboard.