Entering Liquid Asset Data in BEACON

The Liquid Asset page is enabled whenever you answer Yes to the liquid asset question in the Income and Assets Q and A Navigator.

Liquid assets include:

  • cash on hand
  • bank deposits
  • securities
  • certificates of deposit
  • lump sum payments
  • checking accounts
  • individual asset accounts (IAA’s) (upon termination of FEP employment)
  • money market accounts; and
  • savings accounts

Unless you indicate that ownership or accessibility is less than 100 percent, each liquid asset type is treated as countable in full for each program and the countable amount for each program is displayed at the bottom of the page. You can change this amount, when appropriate.

The Liquid Asset page captures:

  • the type and amount of the asset
  • whether or not the financial holding is owned and accessible
  • institution name, account number, and routing number; and
  • countable amounts for each program

Reminder: The two icons at the top right-hand corner of this page are for Verification on the Fly and Case Notes. The icon at the bottom right hand corner of this page is for the Case History.

The Verification on the Fly Icon is available on all workflow pages. Click on the Verification on the Fly icon to enable it (a blue check mark will appear). You will be able to verify any new or changed item on this page without leaving the page. To turn off the Verification on the Fly, click on the icon again (the blue check mark will no longer appear). If the Verification on the Fly icon is not enabled you will have to visit the Verification tab to record receipt of a verification.

The Case Notes icon is available on all the workflow pages. The Case Notes icon can be used to make notes, concerning the page, actions taken or actions to be taken, for anyone visiting the page.; however, the Case Notes can only be viewed on the Narrative tab and not on the page itself.

The History icon is available on all the workflow pages. The History icon displays a historical record of past EBC transactions and the date entered, from most recent action to the first application.

Add a New Liquid Asset Amount

  1. access the Liquid Assets page
  2. select a client from the Members List (BEACON defaults to grantee)
  3. for Type, select asset type from the dropdown list:
    1. Cash on Hand
    2. Certificate of Deposit
    3. Checking Account
    4. Individual Asset Amount (IAAs)
    5. Money Market Account
    6. Savings Account
  4. for Amount, enter the current value of the asset

    1. Important: BEACON adds a decimal point only for whole dollar amounts (if $40 is entered, BEACON adds the decimal point and the amount will show as $40.00). You will need to add a decimal point when entering the value of an asset that is not a whole dollar amount. ExampleExampleIf a value of $40.50 is entered in BEACON as 4050, BEACON will add a decimal point and make the amount $4050.00.  You will need to insert a decimal point manually ($40 + decimal point + 50) to capture the correct amount of $40.50. 

  5. for % Owned, enter the percentage of the asset owned by the client, if less than 100% ExampleExampleIf the client owns half of the asset enter 50 for 50%. 
  6. for % Accessible, enter the percentage of the asset accessible to the client, if less than 100%
  7. for Inaccessible Reason, enter the reason an asset may not be accessible to the client from the dropdown list View/HideView/Hide

    Cannot Be Subdivided

    Co-Owner Abusive

    Co-owner is Absent parent

    Co-owner Threatened Abuse

    In Battered Women’s Shelter

    In Legal Proceedings

    Inaccessible F.S. Policy

    Incompetent-No Guardian

    Irrevocable Trust Fund

    Lack of Ownership

    Partial Ownership

    Participating in FEP (TAFDC)
  8. for Institution, enter the Institution Name
  9. for Account Number, enter the client’s account number at the institution where the asset is held
  10. for Routing Number (used for TAFDC and EAEDC direct deposit, not required for SNAP and will be grayed out)
  11. to get Countable Amounts, click the Calculate button; the system will calculate the countable amount for each program based on program rules and information entered for the asset on the page
  12. click on the Save button to save the record to the select list
  13. to add additional assets complete steps 2-12
  14. click Next to save your entries or changes and go to the next page in the workflow, or
  15. click Finish to save your entries or changes and to exit the page and the workflow

Related Topics

Changing Liquid Asset Data

Last Update: March 15, 2012