Mclowd Trustee User Update January 2019

Welcome to the Mclowd Trustee User Update for January.

Introduction

Continued weakness and volatility in financial markets (including property), combined with political instability will make 2019 a challenging year for SMSF Trustees and professionals alike.

However there will be one constant throughout this period – the laser focus of the Mclowd Team on delivering consistent improvements to the software, while ensuring high quality support is available to thousands of active users.

The goal of these efforts are very simple:

Improve net returns – and hence retirement outcomes – for the Members of Australia’s 600,000 self managed super funds.

Recent Deployments

To that end the following have been deployed this month: 

  • Support for the Coles demerger
  • Improved support for the handling of DRP balances
  • Bank accounts are now listed individually in the Detailed Statement of Financial Position

Handling DRP Balances

Based on feedback from (and collaboration with) various users the following are now in production: 

  • The ability to enter fractional share volumes via the asset and income reinvestment pages
  • Surfacing fractional reinvestment balances through the chart of accounts
  • Enabling different cash / settlement dates for reinvestment transactions
  • Allowing choice between the dividend reinvestment remainder being entered as a cash payment or a carry-forward balance
  • The ability to reverse new dividend reinvestment transactions where required

Conclusion

While SMSF Trustees will have challenges of their own this year, for Mclowd the challenge for 2019 is quite simple:

Deliver against the development targets required to drive continued growth of the Community to the benefit of all stakeholders.

As always, please keep the feedback coming.

Regards

Ashley Porter

Managing Director
Mclowd Pty Ltd

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