Glossary of Terms

J

Joint Venture

A project undertaken by two or more entities to achieve a mutual objective. Under some circumstances, and in compliance with strict legal conditions, a superannuation fund may be able to enter into a joint venture with another entity to invest in a particular project or asset.

Journal Entry

An entry to account records that cannot be made via a more automated facility or form for recording payment, income, asset purchase, bank transfer. Journals offer greater flexibility for users to enter less common transactions, correct errors, and make various necessary adjustments to accounts to ensure accuracy. Journal entries typically require some understanding of double-entry accounting rules, as the user must post matching or equal debits and credits to various accounts to complete the post. In Mclowd, journal entries are posted by clicking the Journal Entries link in the Settings Menu.


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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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