Use the Average Calculator to prospectively budget income from self-employment. See the steps under Adding Income for help navigating to the Income Detail page.
Select the Name of the consumer receiving the income from the drop-down menu.
Select the income Type from the drop-down menu. See KEES Non-Medical Income Values for more information.
Select the Frequency the income is received from the drop-down menu.
NOTE: The Frequency on the Income Detail page should match how the self-employment income is entered on the Average Calculator on the Income Amount Detail page. The Divisor on the Income Detail page is what drives the calculation for the amount. The Frequency on the Income Detail page and the Divisor on the Income Amount Detail should correlate for the income to be accounted for correctly by the EDBC.
If a user is entering a yearly amount from a tax return on the Income Amount Detail page with a Divisor of 1, the Frequency selected on the Income Detail page should be Every Year.
If the user is entering a yearly amount from a tax return on the Income Amount Detail page with a Divisor of 12, the Frequency selected on the Income Detail page should be Once a Month.
If the user is entering 3 months of monthly ledgers on the Income Amount Detail page with a Divisor of 3, the Frequency selected on the Income Detail page needs to be Once a Month.
Enter the Name of Business, if applicable.
NOTE: Self-Employment businesses are only added on the Income Detail page; NOT on the Employment Detail page.
Enter the Share of Ownership if not 100%.
NOTE: The Share of Ownership field is for documentation only and is not used for budgeting. If the client's Share of Ownership is less than 100%, the income and expenses entered should reflect their share.
In the Income Amounts section, select Non-Medical from the Display by Program Type drop-down menu. The Add button dynamically displays.
Click the Add button. The Income Amount Detail page displays.
On the Average Calculator, select the appropriate Self-Employment Schedule/Ledger being used for the reported income from the drop-down menu.
Enter the income information from the schedule/ledger in the Total Gross Income field. Click the Add button to enter additional income.
Select the appropriate Self-Employment Schedule/Ledger being used for the reported expenses from the drop-down menu.
Enter the expense information from the schedule/ledger in the Total Expenses field. Click Add to enter additional expenses.
NOTE: Do not put any values in the Income Addition or Expense Exclusion fields.
When the necessary information has been entered from the schedule/ledger, select the Divisor (12 for annual return, 4 for quarterly return, etc.).
Click the Calculate button.
Click the Use button. The calculated income amount populates in the Reported Amount field.
In the Average Hours enter the Weekly
Hours. Select the Tab Key on the computer keyboard. The Monthly Hours will display.
NOTE: If
the Hours are not whole enter the decimal value do
not use standard rounding logic.
Enter the Begin Date using the <mm/dd/yyyy> format or the calendar icon. Use the first day of the first month the income should be used in the budget.
Select a Verified value from the drop-down menu.
Select the Source for the verification from the drop-down menu.
Click the Save and Return button. The Income Detail page displays.
Click the Save and Add Another button to add additional income from self-employment. Otherwise, click the Save and Return button. The Income List page displays.