A recent Mclowd upgrade modified the way the Statement of Financial Position calculates and displays investment values. This report now uses Market Valuations for investments, instead of investment account balances (which was typically the cost base for the assets).
This upgrade brings this report into parity with other platforms and ensures values in the SoFP Report match those in the Investment Holding Report.
The upgrade imposes a requirement for users to complete the Allocation step of a Financial Year End or Interim Period process in order to fully allocate the profit and loss of the fund to the member accounts.
If the Allocation step is not completed, net assets will not balance against the liability for benefits.
If you do not have allocations for that report date, a notification will display at the top of the report. This is intentional. The notification does not indicate an error, but only advises that the the report reflects an incomplete set of data. The report will still run, but Net Assets will not equal Net Liabilities.
To access investment account balances for a given date, please use the Trial Balance or General Ledger Reports, as the Statement of Financial Position will no longer report current investment values for dates other than end of period.