高效地客户现金流外文翻译.docx
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高效地客户现金流外文翻译
本科毕业论文(设计)
外文翻译
原文:
VariablepayEfficientlyMonitorClientCashFlow
Asanothercalendaryearwanesclientsturntofinancialplannersforstrategiestomaximizeopportunitiesrelatedtotheendoftheyear.Manyoftheyear-endplanningstrategiespreparedbyfinancialplannersarecontingentonknowingaclient'sincome,expenses,andcashflowfortheperiod.Itisalsoatimewhenplannersrevieweventsoverthepast12monthsandassessaclient'sprogresstoanexistingfinancialplan.
Plannersrecognizehowimportantcashflowmonitoringiswhenidentifyingplanningopportunitiesforclients,butthevolumeofdatagathering,traditionallycompletedusingpaperformsorspreadsheets,canquicklybecomeoverwhelming.Also,clientsmayfailtokeeptheirrecordsupdated,orbackofficestaffmaygetboggeddownindataentry,makingtheprocessofyear-endplanningunappealingbecauseoftheamountofworkinvolved.Fortunately,newtechnologyisavailablethatishelpingplannersminimizemanyofthetediousstepsinvolvedinthedatagatheringprocess.Ispokewithtwoplannersaboutsolutionstheyareusingtostreamlinethecashflowdatagatheringprocessandreducethetimerequiredtocreateyear-endstrategiesforclients.
TraditionalDataGatheringTechniques
Plannersimplementavarietyoftechniquestogatherdatarelatedtoaclient'scashflow.Thelevelofdetailcollectedlargelydependsonthecomprehensivenatureoftheplanningprovidedforaclient.Someplannerscollectonlytheinformationneededforyear-endtaxplanning,whileothersgatherextensiveincomeandspendingdataforacomprehensivecashflowanalysis.
Theleastefficientmethodtogathercashflowinformationistorequestcopiesofclientspaperstatements.Whilestatementscanbeprovidedineitherhardcopyorelectronicform,clientsmuststillcollatetheirdocuments,deliverthemtotheplanner'soffice,andwaitforstafftomanuallyreviewthestatementsandentertheinformationintoappropriateplanningtools.Processingdatamanuallycantakeseveraldays,issusceptibletodataentryerrors,andisnotscalableasfirmsgrowtheirnumberofactiveclientrelationships.
Asanalternative,someplannersprovidecustomformsorspreadsheettemplatestoclientsfordatagathering.Theformshelpclientsconsolidatecashflowinformationintoonedocument,andthesummarizeddatahelpsreducetheplanner'sturnaroundtimeforprocessingthedata.Nevertheless,formsandtemplatesrequireclientstodiligentlytracktheirowndataandtranscribethenumbersintotheprovidedforms,aprocesssomeclientsaren'tinclinedtocomplete.
LeveragingSoftware
Tohelpsimplifypersonalincomeandexpensetrackingforclients,plannersoftenrecommendclientsusedesktoppersonalfinancesoftware.ThemostpopularsoftwareprogramavailableistheQuickensuitefromIntuitInc.ofMountainView,California.QuickBooks,alsoofferedfromIntuitInc.,isanotherpopularoptionforclientswhooperatesmallbusinesses.MoneyPlusfromRedmond,WashingtonbasedMicrosoftCorp.isnolongerapracticalalternativeasthecompanyannounceditdiscontinuedproductdevelopmentlastyearandisofferinglimitedproductsupportthroughJanuary2011.
Insteadoftrackingtransactionsonpaperforms,clientsuseanaccountregisterinQuickenandassigncategoriestoeachone.Activitycanbetrackedinanynumberofpersonalaccountsincludingchecking,savings,creditcards,loans,andinvestments.SimilartoQuickBooks,QuickenHome&Businessaddsthecapabilitytotrackbusiness-relatedtransactionsthatcanbeusefulforself-employedclientsorthosewhofreelanceinadditiontotheirprimaryjob.
Forthemostpart,clientsentertransactionsmanuallyintoQuicken.However,allversionsofthesoftwareofferautilitycalledOneStepUpdatethatdownloadstransactionsandaccountbalanceinformationfromsupportedfinancialinstitutions.AsofMay2009,Quickensupportsmorethan6,700financialinstitutionsthroughitsOneStepUpdateutility.
WhileOneStepUpdateisaconvenientwaytoautomatetransactionentryintoaccountregisters,clientsmustoftencorrectthepayeenameorcategoryassignedbydefaulttodownloadedtransactions.Inaddition,clientsmustremembertoopenQuickenperiodicallyandactivatetheOneStepUpdatedownload.Ifsubstantialtimepassesbetweendownloads,clientsmaybeoverwhelmedbytheamountoftransactionsthatrequirechangestothepayeenameorcategory.
AFreshCashFlowTool
Insteadofaskingclientstomanuallytracktransactionsorconsistentlydownloadandreviewtheminpersonalfinancesoftware,plannersareturningtooneofthemostefficienttoolsavailabletoautomatepersonalfinancemanagement.ThetoolisM,apopularweb-basedpersonalfinanceapplicationacquiredbyIntuitfor$170millioninSeptember2009.
Mallowsclientstocreateanonlineaccountusingjustane-mailaddress,ZIPcode,andpassword.Oncetheaccountisactive,clientscanaddconnectionstotheirchecking,savings,andcreditcardaccountsatfinancialinstitutions,informationaboutrealestate,anddetailsaboutotherpersonalassetsandliabilities(forexample,vehicles,personalloans,orotherproperty).
ClientsentertheirusernameandpasswordcredentialsforeachfinancialinstitutiontheywishtoconnectwithM.Dependingoneachinstitution'ssecuritysettings,clientsmayneedtoansweradditionalsecurityquestionstosuccessfullyactivatetheconnections.AlloftheaccountlogincredentialsareencryptedpriortobeingstoredonMservers,andallconnectionswithfinancialinstitutionsareread-only,soitisnotpossibleforMint,comtowithdrawortransferfundsfromconnectedinstitutions.AdditionalinformationonallofM'ssecuritypoliciescanbefoundat
Onceallconnectionsaresuccessfullyactivated,Mautomaticallydownloadsrecenttransactionsfromconnectedfinancialinstitutionwebsitesandstorestheminitsowntransactionrecord.AswithQuicken,Mautomaticallyassignscategoriestodownloadedtransactions,butwithbetteraccuracy.BecauseMisusedbymillionsofpeople,thesoftwareusesitsknowledgeofhowotherpeoplecategorizetransactionsassociatedwithspecificpayeesandvendorsandappliessimilarcategoriestonewtransactions.Mperformsalldatagatheringbehindthescenesandgeneratesanaccuraterecordofallincomeandexpenses,eliminatingtheneedforclientstoconductanydatagatheringwhatsoever.
ApplicationsforPlanners
IfirstspokewithJohnD.Berger,CFP®,ofALTUSWealthSolutionsinSanLuisObispo,California,regardinghisfirm'sapproachtocashflowmonitoring.BergerencourageshisclientstouseMorQuickBookstotracktransactionsandusesreportsfromtheprogramstopopulateaproprietarycashflowworksheetALTUSdevelopedusingMicrosoftExcel.
"Cashflowissomethingweworkonearlyinthefinancialplanningengagement,"saysBerger."SinceweuseMintorQuickBooksformostclients,it'sassimpleasaskingforanupdatedreportjustpriortooneofourquarterlyupdatemeetings,usuallyaboutonceayearunlesstheclientfeelsthereisanissueandtheywanthelp,andthenIpluginthedatatothecashflowworksheet."AccordingtoBerger,theprocessofcopyingthedatafromreportsintotheworksheettakesjustafewminutes.
ALTUS’scashflowworksheetlistsincomefromfourdifferentsources(thatis,householdmembers),butitdoesnotdistinguishtypesofincomesuchaswages,self-employment,rental,orpartnership."Theprimarygoaloftheworksheetistofocusonclients'cashflow,"Bergercontinues."It'snotintendedtobeacomprehensivefinancialplanningtool,butwedousethe[cashflow]datatopopulateourfinancialplanningsoftware.Allwecareaboutisincomeintothehouseholdregardlessofwhereitcomesfrom.Ifwemadetheworksheettoocomplicated,clientswouldstarttobreakout."
Expensesintheworksheetaretrackedforabout40categoriesthatareseparatedintofourgroups:
•Taxes,federalandstatewhereapplicable.
•Pastobligatoryexpansessuchashousingcosts,autoexpenses,andchildcare.
•Currentcontrolexpensessuchasentertainment,groceries,andcableTV.Bergerusesthedatatodetermineclients'ratio.
•Futureexpenses,thatis,netsavings.
Onceallhouseholdincomeandexpensesareidentified,Bergerusestheworksheettogiveclientsanassessmentoftheirspendinghabits.Bydefault,Bergerchallengesclientstosave15percentoftheirannualgrossincome,agoalhesaysclientsareveryclosetoachievingafterusingthesystemforthefirstyear.Hesays,"Itdoesn'ttakelongforclientstoseehowpotentcashflowmanagementcanbeasatooltogetthemwheretheyneedtobeforbuildingfinancialindependence."
AsforclientadoptionofALTUS’sdatagatheringmethods,Bergeradds,"Ihaveneverbadaproblemwithcomplianceortransparencyinthisareabecausetheclientsallunderstandthatcashflowmanagementisthekeytobuildingwealth,farmoresignificantthananythingwecandowiththeirinvestmentaccounts.That'showwesetitup,andIhaveyettomeetapersonwhodisagreeswiththepremise."
AnotherplannerusingMtostreamlinethecashflowdatagatheringprocessisJoePitzl,CFP®,ofMindfulAssetPlanning'inAppleValley,Minnesota.ThefirmusesMinconjunctionwithFirstStepCashManagement™,atoolcreatedbyMartinKurtz,CFP®,ofThePlanningCenterInc.inMoline,Illinois.The"threebucket"cashflowstrategyessentialtoFirstStepCashManagementwashighlightedinapreviouseditionoftheJournalofFinancialPlanning.
PitzlsaysthatM"reallyacceler