Income

6.3 Income: Roll-ins

A Roll-in is income received from another superannuation fund, transferred on behalf of a Member of your Fund.

To enter a Roll-in, click ROLL-IN on the INCOME tab.

Incomebutton menu

Mclowd displays:

Income_Rollin

Select the Member Account.

Income_Rollin_selectmember


NOTE:

Only members with accounts in Accumulation mode can be selected, as roll-ins cannot be accepted for members in pension phase.


Select the Bank account to receive the rolled-in funds.

Enter the Date the funds were received.

From the statement provided by the transferring fund, enter the Tax Free Component and the Taxed and Untaxed elements of the Taxable Component.

Enter the Preserved amount, Restricted non-preserved amount and Unrestricted non-preserved amount.

Mclowd will check to verify that the Roll-in amounts match.

Click SAVE ROLL-IN.

 


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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