Template Questions
The template has many balance checks. Except for the Financial Report they are this color.
What is Blue.
This is the activity you have to manually link to the plan totals tab.
Plans with Master flow thru account. Distributions should be shown in what column on the plan totals tab. (Master or Participant).
What is the participant column.
These are the four types of activities that can be included on the other investment tab (ins/outs)
What are:
Transfers
Contributions
Fee's
Distributions
Final adjustments for any Liabilities, carry forward contributions, or other receivables should always be made on this tab.
What is Plan Totals.
For the Financial Report set up the brokerage names link from here.
What is Plan Totals Row 108
What is link to contribution recon tab.
This is how the per account for the master flow thru account should be set up to show a distribution.
What is one column titled distribution/ Distribution transfers.
This is where the ins/outs for other investments should flow thru.
What are the brokerage accounts or checking accounts.
These are the COLA limits for 2023 for EE, Catch up, and ER contributions.
What is EE- $22,500
Catch up- $7,500
ER- $66,000
Template set up, Financial Report beginning balances link from here.
What is they do not link they are keyed.
This is where you enter the per account activity for Mutual Finds.
What is the Mutual Funds Tab.
What is forfeiture money.
What automatically links from the Other Investment Tab to the Plan Totals.
What is Nothing.
For Solo K plans with 1 participant and 1 account. This is what you choose on start here. Pooled or SDBA.
What is the choice is based on how the account is titled.
This is where you check to make sure you have not hidden any columns with data.
What is Start here Tab column F.
This information automatically links from the Mutual Funds tab to the Plan totals.
What is Gain/ Loss and ending balance.
This is what needs to be done on the plan totals when a final contribution deposit (dated 12/29) does not transfer to participants.
Set up transfers due.
This is the value that is used for annuities and insurance.
What is Cash Surrender Value.
When you have an SDBA plan with master flow thru account this is what you must ALWAYS complete.
What is the per account tab.
This is where you pull the Net Beginning Balance for the plan totals tab.
What is Prior Year Trust Accounting.
Mutual fund purchase are typically what type of activity.
What is contribution deposits.
If a plan has contribution transfers due at the end of the year. This is what you do on the contribution recon tab with those transfer due amounts.
What is allocate to participants in which they belong to.
This is where the detailed transactions for rental income/ real estate expenses/ and limited partnership income get reflected.
What is the Per account tab and linked to per account section of plan totals.
This is how the per account tab should be set up for the master flow thru to show contribution transfer to each participant to make it easier to identify the total contribution transfers to each participant.
What is make a column for each participant receiving contribution transfers.