When you setup a fund in Mclowd, you are required to specify whether the Fund has a corporate trustee or all members as trustees.
If you specify ”All members as Trustees”, Mclowd will automatically create the first member. You will then need to enter needed information for that member before proceeding with any other setup task.
Mclowd will display the ”Member Details Required” warning instead of presenting the Fund Setup Menu.
Similarly, if you have created a member but failed to enter all the required information about that member, Mclowd will display an error message and you will need to navigate to the Member Details screen (via the Fund Setup menu) to complete the required member details.
For example, you cannot process end of year tax returns if you have members whose tax file number is not on file.
In this case, Mclowd will display:
To remedy either error, click UPDATE NOW to move to the Member Details screen and complete all required fields: