What should be entered as a Cash account
The following should be added as a Cash asset:
Everyday cash transaction account
Savings accounts that don't have a restriction on withdrawals
Cash accounts can be owned by an Individual, Couple, SMSF or Trust.
Do not enter under Cash:
Fixed term accounts - These should be entered as a Fixed interest (term deposits, government bonds) asset so that the withdrawals are only allowed when the term ends.
How to add a Cash account
To add a cash account owned by an individual or couple:
Go to the Current situation step (top menu), then click the Assets & Loans sub-step
On the left menu, click Add assets and then choose Cash
To add a cash account owned by an SMSF or Trust:
Add the SMSF or Trust
Within the entity, add the cash account
Modelling options for cash accounts
If an Individual or couple has several bank accounts with the same ownership and interest rate, you can conflate them to a single Cash account in Pathfinder; just add up the balances of the accounts and put the total in the Balance field.
Keep a cash reserve for emergencies (outside super only)
See Cash reserve goal.
Increase or decrease assumed interest rate year-by-year
You can change the interest rate using the series builder in the Interest rate field. For more information, see How to increase or decrease a value in the series builder
Run a scenario with a higher or lower interest rate
This is useful if you would like to see the impact of higher or lower interest rates:
Results for Cash
Strategy Development Service (SDS) and Background adjustment options
If the case includes complex analysis that you are not able to do in Pathfinder yourself, Optimo Support may be able to do some background adjustments to help you get the results you need. Depending on the complexity, this may be included as part of the standard support or additional charges may apply. For more details, please see Modelling outside the scope of Pathfinders' standard modelling.
Some examples of things that are outside the scope of Pathfinder's modelling and how Optimo support can help, are listed below:
Information required by Optimo Support
Examples where additional charges may apply
Keeping open several cash accounts with specific balances
Pathfinder tends to prefer a keeping single cash account, so if you have multiple cash accounts, it may transfer funds between them unexpectedly.
You could try using:
If you would like specific instructions for cash accounts, please tell us:
If it is only one or two cah accounts with minor changes, it will likely be part of the standard support.
Keeping cash in proportion to another asset
Deposits to cash and shares should be equal
Please send specific details, and we’ll see what we can do.
We will let you know, based on the request.