Getting Started

2.2 Getting Started: Welcome Screen and Navigating Mclowd

Each time you log in, Mclowd greets you with a Welcome screen showing a graphic overview of your total Portfolio Value, Key Financial data, and Asset Allocation information.

Opening screen

At top right of the screen, you will see your User Name displayed, a link to the Settings menu, and the Logout link.

Along the top of the graphic display, Mclowd provides a set of menu tabs to give you access to all the functions of the software.

Welcome and tab menu

The Settings menu takes you to key maintenance functions like

  • Fund Setup. (initial setup of your Fund),Settingsmenu
  • Accounting (to display your chart of accounts with current balances. This option also allows drill down to view transactions.)
  • Journal Entries (to view and enter journal adjustments),
  • Receivables (where you can view the status of your Debtor account)
  • Financial Periods (where you can see which financial years have data in Mclowd, and which year is currently open. Here you can also roll back a closed year to make adjustments to a previous year.)

    NOTE: Mclowd allows you to continue entering data after the end of a financial year, despite the fact that you have not closed the previous year. As long as dates of transactions are entered correctly, Mclowd will assign all transactions to the correct year, regardless of the open status of a previous period.


  • Pension Administration (where you can manage pension accounts and transitions between accumulation, pension or transition to pension accounts)
  • Asset Maintenance (where you can find detailed data about asset values, price and income history, etc.)
  • Investment Strategy (where you can optionally order a full investment strategy review from a Mclowd partner)
  • Mclowd Marketplace (where you can access a variety of services, post job requests and receive quotes)
  • Manage Collaborators (where you can give other parties (e.g. your accountant, auditor, financial adviser, etc.) to your account data
  • Mclowd Account (where you can perform account maintenance tasks such as changing your user name or password, adding options, checking subscriptions, upgrading and deleting your account)

NOTE: If you are using the Free Forever version of Mclowd, clicking the Asset Maintenance option will display an invitation to upgrade your Mclowd account. Asset Maintenance is a feature of the Pro Version.


The most commonly performed tasks can be accessed from the main Tabs menu, which is available at all times when using Mclowd.

Tab menu

 

Using the tabs, you can:

  • Display a SUMMARY of the status of your account (as shown on the Welcome screen)
  • Display a comprehensive list of all TRANSACTIONS with extensive detail of each.

Note that this is a feature of the Pro Version of Mclowd. Choosing this tab, if you are using the Free Forever version, will display an invitation to upgrade. While this screen provides a convenient way to view transactions and export them to an Excel spreadsheet, it is not essential to managing your Fund. You will still be able to enter essential transactions, view data and create reports from the Free Forever version, but at just $33 per annum including GST, the Pro Version is excellent value and offers significant benefit, including free technical support.


  • Display a list of the ASSETS your fund holds and
    • ADD NEW ASSETS (record purchases of new assets)
    • Enter details of ASSET DISPOSALS
    • Perform ASSET VALUATION (revalue assets)
    • EDIT ASSETS
    • Enter details of CORPORATE ACTIONS (Return of capital; Consolidation Split; Bonus Shares; Scrip for Scrip Rollover and Demergers)
    • Enter details of transactions that add to the value of property assets (eg. Buildings, renovations, additions, new fittings and fixtures)
  • View LIABILITIES and
    • ADD NEW JOURNAL ENTRY to record new liabilities, or create a ADD LOAN ACCOUNT to set up a new loan account.
  • View details of INCOME and
    • ADD NEW income
    • ADD CONTRIBUTIONS (record contributions from or on behalf of members)
    • Enter details of a ROLL-IN
  • View a list of EXPENSES and
    • ADD NEW EXPENSE or
    • ADD NEW PAYMENT (to record pension payments, benefit payments or transfers out)
  • View a list of BANK ACCOUNTS with account details and balances, and
    • ADD NEW BANK ACCOUNT
    • ADD NEW LOAN ACCOUNT
    • Perform a BANK TRANSFER to move funds from one account to another 
  • Import BANK DATA via manual import or SDS Data Feeds

Note that while users of the Free Forever version can import bank data manually, you need to upgrade to the Premium Version to access the SDS Data Feeds feature. If you select the SDS Bank Data Feeds button, an invitation to upgrade will be displayed.


  • Access a range of REPORTS, including Asset reports, Banking reports, Income reports, Portfolio reports, Tax Reports, and various Others
  • Purchase PAID EXTRAS (extra tools and services to help you better manage your Fund) including Data Feeds, Online tax lodgement, Actuarial Certificates, SMSF Establishment, Investment Strategy Reviews, and Education.
  • Access TRANSFER BALANCE ACCOUNT REPORTING tools.

Note that the Transfer Balance Account Reporting tools are available only to subscribers to the Pro Edition. If you are using the Free Forever version and you select this Tab, an invitation to upgrade will be displayed.


  • Access the Mclowd HELP Centre, where you will find links to the User Manual, specific ‘How do I…’ guides to perform certain functions, Help Videos, and a place to submit Feedback.

 

 


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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