The forth stage of the advisory asks you to enter details about the applicant's income and expenditure each month.
Entering Income and Expenditure Figures
To begin entering the applicant's income and expenditure, click the 'Add' button. You will be walked through each type of income/expenditure starting with information about the client's salary or wages.
Just enter the value next to the appropriate fields, and leave blank if the field is not needed.
So for example if the client's salary was £1200, simply enter 1200 in the textbox besides the 'Client's Salary' label as shown below.
To move to the next type of income/expenditure, click the green 'Next' button. You can then also click 'Back' to move to the previous section.
As you are entering the figures, they are added to the list and totalled up at the top of the page. You can constantly get an update to the total Income, total Expenditure and the client's Monthly Surplus.
Editing and Deleting Items
As soon as an item is in the list, you can click it's 'Delete' button to remove it from the list.
You can also click it's 'Edit' to edit the figure.
Understanding the Common Financial Statement
DebtKit integrates with the Common Financial Statement provided to us annually by the Money Advice Trust at http://www.cfs.moneyadvicetrust.org/. Using the information we collected about the applicant earlier in the advisory we can calculate the most the applicant should be spending on certain items each month. If you enter a figure higher than this threshold, DebtKit will notify you by pointing out the advised maximum expenditure and highlighting the fields red (as below). You can choose to alter the figures or DebtKit will allow you to make an exception and move on.
This section takes approximately 4 minutes 3 seconds to complete on average according to our data. The next screen is determined by some of the fact finding questions you answered earlier in the advisory. As soon as you're ready click 'Next' to move on.