Reports and Graphs

Now that you have entered the client’s information, you can get the answers and strategic help that Family Law Software provides.

Reports and Graphs: Displaying Bottom Line Totals With One Click

If you have not done so already, this is a good time to click the “Totals” button, , located next to the Export button, to the right of the tabs at the top of the screen. 



Figure 82 - Location of the “Totals” Button

You will see the first five years’ income, taxes, and net income for each party. 

         
Figure 83 - Detail of After-Tax Cash Table Shown in Totals Report

Each column is one item of income or expense.

Each row is one year.

Scroll to the right, and you can see net after-tax income.

Below that, are the first five years’ property totals for each party.

        
Figure 84 - Detail of Net Worth Table Shown in Totals Report
At any time, you can change a number in the Planner, and click the  button to see the impact of that change on after-tax net income and property.

Reports and Graphs: Generating Powerful Reports

You want to understand, summarize, and present the situation.  You will be presenting to clients, perhaps to the “other side,” and sometimes to the judge.

The software’s print-outs of reports and graphs help you do this easily and powerfully.

Generating Reports: Key Reports

You can see a client’s projected after-tax income and net worth by going to the Reports screen.  You reach the Reports screen by clicking the Planner tab, then clicking Reports on the left, near the bottom of the list.

You will get a screen like that shown below. 

Then click each of the Key Reports.



Figure 85 - Reports Screen with Key Reports

Key Reports - One-Page Summary

The One-Page Summary report gives you a one-page summary for the client or court of the current picture, both income and property, as shown below.


Figure 86- The One-Page Summary Report

Key Reports – Marital Property Division Report

To view a property division report, click the Planner tab, then Reports on the left, then Marital Property Division.

The report shows each item of property, how it is divided, and the total value.

On the Property Division report, we show subtotals for “total assets” and “total debts.”  We also show totals of liquid versus non-liquid investment assets. 

To indicate the asset type for an investment asset, go to the place where you first entered the asset on the Cash & Investments screen, click [more info], then in the “Financial Affidavit” section, select the Asset type.  A note on the screen indicates which asset types are “liquid” versus “non-liquid.”

It also shows the total being kept by each party.


Figure 87 - The Marital Property Division Report

There are many options with respect to how the Property Division report is displayed.  To see the options and select them, click the link at the top of the Marital Property Division report.

You can get a report of Marital and Separate Property by clicking the Planner tab, then Reports on the left, then the link labeled Marital and Separate Property.


Figure 88 - The Marital and Separate Report

You may also view a much more detailed version of this report by clicking the link at the top of the report, “Click here to set Marital and Separate Property Report Options,” then clearing the checkbox labeled, “For each asset, show only total equity, total marital, and each party’s separate equity.”

There are similar reports that show the property division considering marital property only, and the property division on an after-tax basis.

The property division on an after-tax basis, which is called "Marital Property Divison on an After-Tax Basis" features an extensive online explanation of how the calculation is performed in general and for each party.

Key Reports – Projected After-Tax Cash Flow Report

A picture is worth a thousand words.  Whether you are presenting to a client, an attorney, or a judge, a graph showing future income trends can really strengthen your case.

To view the After-Tax Cash Flow Report, click the Planner tab, then Reports on the left, then the link for Projected After-Tax Cash Flow.



Figure 89- Projected After-Tax Cash Flow

Key Reports - Projected Net Worth Report

The Net Worth Graph is similar to the After-Tax Cash Flow Graph, but it shows future projections of property.

To view the Net Worth Graph, click the Planner tab, then Reports on the left, then the link for Projected Net Worth.



Figure 90- Projected Net Worth

Key Reports - Summary Totals Spreadsheet Report

The Summary Totals Spreadsheet allows you to see the key income items and the key net worth items all on a single page.

It is a very useful overview of the entire financial situation.

In particular, if assets are being drawn down to finance a lifestyle, this report is a very powerful way of showing that happening.


Figure 91- Summary Totals Spreadsheet

Key Reports - Budget Report

You can show each party’s total income and expenses for any year.  Just click the Planner tab, then Reports on the left, then the Budget Report link.



Figure 92 - Portion of Budget Report

There are many options with respect to how the Budget Report is displayed.  To see the options and select them, click the link at the top of the Budget Report.

You may also show the full detailed Budget Report for any year by clicking the link with that year at the top of the screen.

Key Reports - View/Edit Taxes Report

If anyone questions how the taxes are computed, you can give a detailed explanation.  Just click the Planner tab, then Reports on the left, then the View/Edit taxes link.



Figure 93 - Portion of View/Edit Taxes Calculation Report

Note that Self Employment Tax is part of Federal Income Tax and is shown on this screen.

Key Reports - After-Tax Cash Flow Spreadsheet

To view the after-tax cash flow in detail, click the Planner tab, then Reports on the left, then the link for After-Tax Cash Flow Spreadsheet.

           
Figure 94 - The After-Tax Cash Flow Spreadsheet Report

Each row represents a different year.  Each column is an item of income or expense. 

Federal income tax and FICA/Social security tax are calculated automatically, and state income taxes are estimated automatically.

This report may be printed in landscape mode.  Simply select landscape mode from the print setup dialog for your printer.

Key Reports - Liquidations to Cover Negative Cash Flow

The “Liquidations To Cover Negative Cash Flow” report shows which assets are being liquidated, how much of each asset is used to pay incremental tax, and how much is available to cover the deficit.

When liquidations are made, the software liquidates extra in order to cover incremental taxes that are necessary to be paid.

These incremental taxes show up here, as liquidations, and not on the View/Edit Taxes report.

Key Reports - Accumulated Savings

You may think of accumulated savings as a sweep account.

Returns on Accumulated Savings generate current income and appreciation.

When other accounts, such as investment accounts and IRAs are liquidated to cover current account deficits, those liquidated amounts flow through the Accumulated Savings account.

The Accumulated Savings report tracks these cash flows in detail.

Key Reports - Net Worth Spreadsheet

To view net worth in more detail, click the Planner tab, then Reports on the left, then the link for Net Worth Spreadsheet.


Figure 95 - The Net Worth Spreadsheet Report

Each row represents a different year.  Each column is one asset. 

This report may be printed in landscape mode.  Simply select landscape mode from the print setup dialog for your printer.

Key Reports – Key Entries and Assumptions

The Key Entries And Assumptions report is useful to print out for an attorney or client, to answer the question, "what were all of the key assumptions that the software used?"

For handy reference, we also include many of the key data entries that you made.

Backup Reports

The software also includes many backup reports which provide additional detail behind the Key Reports.

This section discusses several of these.

Backup Reports – Intact Family Reports

The software has two reports that show how the parties’ situations would look before incomes and properties are divided.

The first of these is the Property Statement.

To view the Property Statement Report, click the Planner tab, then Reports on the left, then the link for Property Statement.

 

                   
Figure 96 - Portion of Property Statement Report

This report shows the combined property of the parties.

The second report that shows the combined situation of the parties is the combined income report.

It shows the parties’ combined incomes and taxes as if they filed jointly.

To view the Combined Income Report, click the Planner tab, then Reports on the left, then the link for Combined Income.

 

                          
Figure 97 - Portion of Combined Income Report

 

Helpful HintShowing Pre-Separation Situation.  You can start your work by entering wages and expenses on a pre-separation basis.  Then print the Combined Property and Combined Income reports.  These will show income on a pre-separation basis.  You can then “Save As…” and create a new file.  In the new file, you can enter differences to capture the post-separation situation.

Backup Reports: Five-Year Projection

 

Clients often ask, “Where will I be in five years?” 

To see a five-year projection report, click the Planner tab, then Reports on the left, then the link for Five-Year Projection.


Figure 98 - Five Year Projection Report

Backup Reports: Sale of Real Estate

When a residence is sold, the software will generate a report showing the net income from the sale, the estimated tax impact, and the after-tax net income from the sale, for both parties.

To view this report, click the Planner tab, then Reports on the left, then the link for Sale of Real Estate.

A sample report is shown in the figure below.


Figure 99 – Sample Sale of Residence Report

Backup Reports: Details behind Key Reports

If a report is challenged, either by the other side, or in court, you want to have the ammunition to back up what you’re presenting.

The detail reports give you that ammunition.

These reports are all available by clicking the Planner tab, then Reports on the left, and they give audit trail detail to the line items on the current year and future reports described above.

The detail reports can also be useful to understand where a number came from. 

You may print out these reports and show them to a client, to explain a number to a client.

Generating Reports: Selecting Party and Number of Years

Sometimes, you may want to show reports and graphs for only one party.

You may do this by selecting Planner / Assumptions, then scroll down until you see the entry for selecting the party whose data will appear on the reports.


Figure 100 – Choosing Whether to Print Reports and Graphs for One Party Only

Immediately above the selection of party, you may also specify the number of years to project in the future.

This specification will affect all of the screens on which projections of future years appear throughout the software.

Also on this screen, you may select a file label, as shown below.


Figure 101 – File Label

The file label prints with all reports in this client data file, as shown below.


Figure 102 – Report Printing with File Label

You may then save the file under a different name and enter a different file label.

Then, you'll be able to see from the printed reports which file generated them.