If I select "Pay as you go" then college expenses appear in the expense statement. But if I pick "529 Plan" they don't. The money does come out of the 529, I can see that in the balance sheet. But college expenses are nowhere (unless I'm missing something) in the expense statement.
Is this intentional or an oversight?
Thanks!
-J
@jrauser Hi, good question. It is intentional. Pralana considers the expense incurred as contributions are made to the the 529 Plan, not as funds are disbursed from the plan.
529 Plan Contributions: If at plan start you have insufficient balance in the 529 plan to fund college expenses after factoring in growth, Pralana will calculate the contribution needed each year in order to fund the tuition. Those contributions will be included on the Expense Statement under Children (including College). The actual contribution amounts will appear on the Expense Details > Children projection. If the amounts are all $0, as they are in your plan, you can see the column if you check Show Empty Columns.
Tuition payments from the 529 Plan: Tuition paid out of a 529 Plan is considered a 'non-cash' outflow of funds and appears in two places:
Cash Flow Statement: On the far right, last column as a Non-Cash Outflows: Tuition Payment from 529 Plan
Cash Flow> Withdrawals in the Other Withdrawal section: "Tuition Payment from 529 Plan"
There is a brief mention of this in the user manual and I will elaborate more in the next version.
Also, you can use More > Tools > Search Metrics and search for all mentions of, say, '529' or 'tuition'. This page has links back to those tabular projections.
