Glossary of Terms


Data Entry

The entry of information about various Fund transactions into a structured recording system that enables correct tracking of information and calculation of various totals on demand. Mclowd provides a range of forms for data entry and uses various data entry conventions common across most popular computer accounting systems. See 2.4 GETTING STARTED: DATA ENTRY in the Mclowd User Manual for information about data entry conventions used in Mclowd.

Data Feeds

Data feeds enable specific information from selected sources or data providers to be ”fed” to a consumer who wishes to use that data, or to a service provider who utilizes the data in the performance of a service to clients.

Mclowd uses data feeds to update share prices so that user accounts correctly reflect the current value of shares held by funds, and (for users who have subscribed to Bank Data Feeds) to update bank records to automate entry of bank transactions.

Mclowd supplies data, via data feed, to LodgeIT to automate the compilation and filing of Fund tax returns.

Mclowd may engage with other service providers either to receive relevant data for use to provide further automation of Fund management or to supply data to service providers (with user consent) to enable the provision of other services to users.


Displayed each time you log in to Mclowd, and accessible at any time by clicking the SUMMARY tab, Mclowds Dashboard displays a helpful Summary Report in both numerical and graph format, showing the total value of the Fund portfolio, investment distribution, distribution of assets among various asset classes (both in dollar and percentage terms and via helpful bar and pie graphs), the ratio of own to loan funds (if applicable), total contributions year-to-date, total pensions paid year-to-date, total investment earnings year-to-date, and the total funds available to pay member benefits. See also Section 12.1: REPORTS ―THE DASHBOARD in the Mclowd User Manual.

Death Benefit

The amount payable to a member’s beneficiaries and/or dependants in the event of the member’s death.

Death Benefit Nomination

A nomination, generally made by correspondence to Fund Trustees or an election in superannuation management software, of a person to receive the benefit of a member’s remaining superannuation upon the death of a member. Members should nominate a qualified dependant, or a legal professional who will ensure funds are paid to the member’s estate and distributed according to the member’s last will.


Entries recording a sum owed, listed in the left column of an account. Note that a Debit increases the value of an asset and increases an expense, but decreases a liability, income/revenue or equity/capital.

Deductible Contribution

Money paid to your super account that you or your employer are able to claim as a tax deductible contribution. There are limits to how much can be contributed in any one tax year (see also concessional contributions).


A demerger is a form of corporate restructuring. The opposite of a merger or acquisition, a demerger involves separating an entity’s business operations into multiple components. These components may then operate on their own or be sold or dissolved. Demergers allow large companies and conglomerates to split off various bands to invite or prevent acquisition, to raise capital by selling off components, or to create legal entities to handle different operations.

A de-merger is a business strategy in which a single business is broken into components, either to operate on their own, to be sold or to be dissolved. A de-merger allows a large company, such as a conglomerate, to split off its various brands to invite or prevent an acquisition, to raise capital by selling off components that are no longer part of the business’s core product line, or to create separate legal entities to handle different operations.

Demergers can be undertaken for various business and non-business reasons, such as government intervention, by way of anti-trust law, or through decartelization.

NOTE: Mclowd currently offers support for demergers on a case by case basis. Specific demergers may be listed in the system. Please contact Mclowd support team for assistance to record any Demerger that affects your assets.


Under the SIS Act, ‘dependant’ generally means

  • A member’s spouse or de facto partner
  • Any child of the member – including step children, or children recognised by the member as adopted children, and any child of the member born after the member’s death;
  • Any person who the Trustee considers to have been wholly or partially financially dependant on the member at the time of a member’s death;
  • Any person who the Trustee considers to have been in an ‘interdependency relationship’ with the member at the time of the member’s death.


A type of contract so-named because it derives its value from the performance of an underlying entity (e.g. the applicable interest rate). Derivatives can be used for various purposes, including hedging (insuring against price movements), speculatively increasing exposure to price movements, or accessing assets or markets that are more difficult to trade. Some more common derivatives include forwards, futures, options, swaps and variations such as synthetic collateralized debt obligations and credit default swaps.

Development Capital

Investments in relatively small, unlisted companies with an established track record in their field of business made to finance their expansion.

Direct Equities

Direct shares in listed or unlisted companies.

Direct Property

Direct holdings in residential, retail, industrial or commercial real estate.

Diversified Portfolio

A portfolio that includes investments in a mix of different asset classes. Usually the goal of investors seeking to minimize risk, and recommended for superannuation fund members.


A share of profit paid by a company to its shareholders. For individual shareholders, the payout is in proportion to the number of shares held. The proportion of profit paid in dividends is dependent on company profits and board policy. If profits are poor, there may be no dividend paid in a particular period.

Dividend franking credit

Dividend franking credits are credits allocated to a superannuation fund when an entity in which the fund invested pays dividends from profits on which the entity has paid tax. To avoid double-taxation, a portion of the tax paid is credited to the receiver of the dividend. Franking credits are recorded by entering them in the Add Income screen when posting dividends. They accrue to account 4-1190 Dividend Franking Credit. When processing year end tax, the total credits will be entered into the Income Tax screen at E1 and deducted from tax payable.

Dividend Imputation

A legislative arrangement in Australia that eliminates the double taxation of dividends. See also Imputed Credits and Franked Income

Dividend Reinvestment

A dividend reinvestment refers to an acquisition of additional shares or units in an entity paid for with a dividend credit, and taken as an alternative to a cash payment.

Dividend Yield

The percentage return on a share investment, calculated by dividing the cents-per-share dividend by the current share price.

Double-entry Accounting

An accounting method that ensures correctness by requiring every debit entry to be matched with a corresponding credit entry in equal amount, and vice versa. Validation can then be achieved by checking that the total of all debits equals the total of all credits. See also Debits and Credits.


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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