Fund Set Up

3.5 Fund Setup: Investments – Checking Opening Balances

When you have finished entering the details of all the Assets your Fund held as at the date of commencing entering transactions in Mclowd, go to https://app.mclowd.com/assets?entryType=balance, or click INVESTMENTS on the Fund Setup Menu.

Mclowd now displays a list of your Fund’s investments together with critical information about each. Assets are grouped according to type. Depending on type, Mclowd may display the purchase date, volume held, cost, interest rate (e.g. for fixed interest securities), opening balance (e.g for bank accounts), etc.

Fund Setup: Check opening balances

Check carefully that every asset your Fund held as at the opening date is correctly entered.

You can verify details of each investment by clicking on the underlined asset name.

Mclowd will display the total value of all assets held.


NOTE:. At this stage, the total value shown may not equal the asset balance shown on your financial statements, because revaluations have not yet been completed. Except in the Cash section, where current bank balances should display, the totals shown will generally reflect the total original purchase cost of all assets. Revaluation is the next step in the Fund Setup Process. Revaluation will adjust the values to the correct values as at Migration date.


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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