Adding a Contribution
Nexus allows you to easily add contributions to any account, annuity, or insurance product (with the exception of Guaranteed Income Annuities and Insurance).
To add a contribution, you simply need to click the 'Set up new contribution' button seen below.
You will be prompted to select a source for the contribution. You can choose generic options including 'External Source', 'Current Income', and 'Excess Income', or you can choose one of the existing accounts/annuities/insurance products that is part of the plan to be the funding source.
Once you have selected the source of the contribution, you will need to enter the details of the contribution such as the frequency (Monthly, Yearly or Single), the amount, and the start and end years.
Once you click the green checkmark, your contribution is now saved to the account.
Adding a Transfer
As discussed above with contributions, Nexus allows you to transfer funds between the accounts/annuities/insurance products that are part of your plans. When you set up a new contribution and select one of the other accounts/annuities/insurance that are part of the plan as the funding source, Nexus will mark this as an outgoing transfer on that entity.
You can view the incoming and outgoing transfers related to an entity on Nexus using the icon seen below:
Editing or Removing a Contribution or Transfer
To remove or edit a contribution or transfer, you will need to edit the account which is receiving the contribution or transfer. You can scroll down to the Transfers and contributions section and press either the edit button to edit the contribution, or the delete button to delete the contribution.
Initial Funding Source Transfers
When you create a planned entity on Nexus, you will be required to set up an initial funding source transfer in order to fund the planned entity.
You can choose 'External Source' or one of the other entities within the plan. Current or Excess Incomes are not available to act as an initial funding source.
Once you select the appropriate source, you will need to fill in the required details including the frequency, amount, start year and end year. Once you are satisfied with your inputs, you can press the green checkmark to save the details.
Once the Initial Funding Source transfer has been saved, you simply have to save the new planned entity as a whole and it is now created.
Initial funding source transfers cannot be deleted, only edited.