Assets

4.1 Add New Asset

To record acquisition of a new asset, click the ASSET tab, then the ADD NEW ASSET button, or go to https://app.mclowd.com/asset?mode=new&entryType=new&redirect=assets.

Mclowd displays:

Assets|Add New

In the Member Account dropdown, select either Fund (for assets owned collectively by all members) or a member (for segregated assets to be owned by a member).

Assets|Add New|Select Account

In the Asset Class dropdown, select the asset type.


NOTE: It is important to select the correct asset type when entering details of an asset acquisition. If an incorrect type is selected, it may be difficult to enter relevant information later. For example, if a Trust is mistakenly entered as a Direct Equity, you may be unable to enter end of year tax data. Take careful note of the description that displays when you type the asset code to verify that you selected the correct entity type. If in doubt, consult Mclowd support staff for assistance.


 

Fund Setup|Asset Class

In the Asset Category dropdown, accept ”Domestic”, or click to select ”Foreign”.

For detailed instructions for adding each class of Asset supported by Mclowd, please go to:


NOTE:

At this point in time, Mclowd only allows Chess Depository Interests (CDI) and Stapled Securities to be added as Equities. This means that distribution income can only be entered as dividends. Please refer to Section 6: Income – Introduction for further information on recording income from Chess Depository Interests and Stapled Securities.


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.

Leave a Reply