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 holds Alternative Assets, you can enter details in the Investments section of the Mclowd Fund Setup procedure.
In the Fund Setup Menu, select INVESTMENTS or go to https://app.mclowd.com/assets?entryType=balance.
Mclowd displays this screen:
Click ADD NEW OPENING BALANCE.
Select the Account.
In the Asset Type drop-down, select the type:
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.
Click SAVE ASSET or SAVE & ADD ANOTHER if you have more Bond Investments to add.
Click SAVE ASSET to go back to INVESTMENTS on the FUND SETUP menu to view a list of your Fund’s investments.]