The "Assets" tab is where you can start to get an accurate picture of your customer's financial health. The interactive worksheets contained in the "Balances," "Income" and "Expenses" dynamic worksheets automatically calculate the numbers entered to determine whether the customer has a surplus or a deficit.
To start, click on the "Assets" tab on the left sidebar in a customer's profile page. You will be brought to the default "Balances" dynamic worksheet.
You can toggle between the “Balances”, “Income”, and “Expenses” dynamic worksheets, and fill in the respective fields.
Tracking Auto-Deduct Amount
If your customer has established an automatic deduction to a savings account, enter the total amount of the automatic deduction here.
Enter "0" if your customer has yet to establish an automatic deduction to baseline your customer's progress.
How to Enter Information in the "Balances" Dynamic Worksheet
1. Scroll down and click on the "Baseline Zero" button
Before filling in any of the fields, be sure to scroll down and click on the “Baseline Zero” button first.
Clicking on “Baseline Zero” helps to automatically enter the number 0 for each field in the "Balances" dynamic worksheet.
Entering the number “0” (when a customer doesn't have anything in that account) establishes a baseline that allows Change Machine to track the customer’s progress. This also helps to indicate that you already have that particular conversation with your customer.
Tip: The difference between leaving a field blank and entering the number "0" seems trivial, but has an important distinction.
Entering "0" establishes a baseline. When you leave a field blank, Change Machine doesn't have a record that the customer doesn't have any balances in a particular asset type. Should the customer have a balance (more than 0) in that field in the future, the platform isn't able to recognize that the customer has achieved a positive outcome from increasing their asset balances from 0.
2. Fill in the fields in the "Balance" column
Strike a conversation with your customers to find out the existing balances of their various financial accounts. Enter the balances here as you go through each field with your customer.
Tip: The "At Home" category refers to cash the customer has on hand.
3. Fill in the fields in the "Deposits since last meeting" column
In the “Deposits since last meeting” column, this is where you may fill out how many deposits your customer has made into their account since the last meeting.
For instance, if you’re now in a second meeting with your customers and they have deposited a total of $1,000 (by depositing $250 four times) since your last meeting, you will fill in “4” here (and not $1,000). You will then update the “Balance” field with the new current balance.
Tracking Asset Balances Over Time
If you have seen the same customer over several meetings and have entered data in those meetings, you will be able to see historical information over time.
1. Click on a category name
For instance, this can be "Checking" or "Savings Account 1."
2. A detailed pane of information will appear on the right side
This pane displays the current asset balance, along with a table of relevant historical asset balances for that category.
In the table of historical data, click on the "Number of Deposits" or "Amount" column to edit data for past asset balances.
Printing the Assets: Balances Dynamic Worksheet
Clicking the "Print" button at the bottom of the Assets: Balances dynamic worksheet will enable you to print a summary of the asset balances entered in the dynamic worksheet.
Depending on your customer's language preference selected within the customer's Details tab, the language on the printout will be in either English or Spanish.