Assets

4.1.8 Assets: Add Assets – Alternative Assets

The term ”Alternative Assets” generally refers to assets that don’t fall into the traditional asset types (stocks, bonds, property, and cash). This category can include hedge funds, managed futures, commodities, derivatives contracts, and precious artworks and collectibles, and precious metals. Mclowd includes Artwork, Motor Vehicles, and Memorabilia in this category, and also provides an ”Other” option for miscellaneous assets not otherwise classified in the software.

If your Fund purchases Alternative Assets, from the ASSETS TAB, select ADD NEW ASSET.

Mclowd displays:

Assets Tab Button Menu

Click ADD NEW ASSET.

Mclowd displays:

Assets|Add New

Select the Account.

Assets|Add New|Select Account

In the Asset Class drop-down, select Alternative Assets.

Accept the default Asset Category (Domestic), or change to Foreign if this is a foreign investment.

Mclowd displays:

Assets|Add Alternative Assets

In the Asset Type drop-down, select the type:

FundSetup_Investments_AlternativeAssets_choosetypeNow, assign a name to your asset.

Use the popup calendar to enter the date you purchased this asset.

Enter the purchase price. Enter any additional transaction costs paid to facilitate the purchase (for example, broker or finder fees or stamp duty).

Mclowd will total the purchase and transaction costs to compute the capitalised cost base for this item.

Select the bank or loan account from which payment for this asset was made.

Click SAVE ASSET or SAVE & ADD ANOTHER if you have more Investments to add.

about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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