Year End Processing
A process that involves checking and verifying that all entries for a financial year have been made correctly, including
- entering income due but not yet received and liabilities owing but not yet paid,
- revaluing assets and/or checking that displayed values are correct,
- entering Trust Distributions from end of year statements, printing/saving end of year reports,
- calculating tax obligations (using Mclowd’s highly automated tools) for both the fund and individual members
- lodging a tax return (automated through Mclowd/LodgeIt integration
- distributing net profits and losses between member accounts
- closing the financial year to set opening balances for the next financial year
Refer to Section 11: YEAR END in the Mclowd User Manual.
The return on an investment, expressed as a percentage.