Fund Set Up

3. Setting up a Fund: Introduction

Once you have signed in to Mclowd and verified your email (refer to Your Account: Signing Up), your first task is to set up your fund, providing Mclowd with all the essential data it needs to categorize data and make calculations correctly.

In this step, you will tell Mclowd about your fund, its members, bank accounts, assets currently owned and their value at migration date, receivables and liabilities, and any opening account balances.

The initial setup of your fund requires some care, because errors or omissions in this area may result in incorrect data in reports or difficulties entering transactions.

NOTE: Migration Support is available from Mclowd as an extra. Migration support is ideal for users who have not yet started their journey, and who are not familiar with Mclowd’s free SMSF software. As part of this service Mclowd will:

  • Set up your Fund on Mclowd and migrate all opening balances
  • Provide online training in all aspects of the software

Please go to for more information or to order.

Migration support does not include SMSF Fund Setup. Please go to the Mclowd Marketplace if you need help to establish a new Self-Managed Superannuation Fund.

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.