Q. How does the start date I choose for my plan correlate to the tax year and/or account balances I am entering?
A. When you first begin a new client case you will be asked when the plan is to start. Plans can be set to begin the day the client file is created (the software's default) or an alternative start date can be specified. Voyant performs all calculations annually, based around an adviser configured planning year.
Once the start date is chosen, calculations will be performed in the client case using planning years that run in 12 month intervals from the selected starting point. The tax year that is used will be the one the plan year starts from ie a plan started on 1/1/2019 would have tax year rules 19/20 in year one of the plan 20/21 in year two and this will follow through till the end of the plan. A plan starting 31/12/2019 would also have tax year rules 19/20 for the whole of the first plan year 20/21 in plan year two and so on.
A planning year could be set to start with the tax year or the client's birthday, any date could be chosen. The key is to select a starting point that is appropriate for the account balances and other values you are entering into the client case.
The software allows advisers to configure the planning due precisely to the question you raise. When one meets with a client, the balances the client provides are often current ones, not back dated to the beginning of the year or to the tax year.
If you are unsure of your client's start date, open the client file and click the Manage Plans button in the top-left corner of the screen (beneath the logo, next to the What If button). The Plan Management dialogue will display. The start date of the plan(s) (scenarios) within the client case will be shown in the Start Date column.