Income

6.1 Income: Add new Income

To add new income received by your Fund, click ADD NEW INCOME under the INCOME tab.

Select the Account to which the income accrues (the Fund, or an individual member account).


NOTE: In some Funds, individual members may hold segregated assets. For example, a member may have chosen to invest in a particular Managed Fund that other members view as imposing unacceptable risk. In this case, the investment can be made from the Member’s account, and all income from that investment will accrue to that Member’s account.


Select the Asset from the drop-down list presented by Mclowd.

Note that some assets are not displayed. For example, alternate assets do not generate income except by sale of the asset, which would be entered as an Asset Disposal.

Income_selectAsset

Mclowd will now present the fields needed to record income from the selected asset.

The screen display will vary depending on the type of asset selected.

Click the link below for further instructions for entering:

 

 

 


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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