Mclowd’s GENERATE TBAR FILE function takes the data you entered in a specific TBAR Event (created by Adding a TBAR Event), adds data extracted from the database relating to the relevant Fund and the relevant Member, and creates a text file that you can upload to the ATO Business Portal to satisfy TBA reporting obligations, thus avoiding the necessity to manually complete the TBAR form provided on the ATO website. By utilizing this process, Trustees are able to satisfy reporting obligations, plus keep an accurate record in Mclowd of all reports filed, and ensure ongoing calculation of TBAR balances and caps.
NOTE: Before generating a TBAR File, you must ADD a TBAR Event with status PENDING.
Manual events will not appear in the selection list for file generation as they are presumed to have been filed manually using the ATO portal.
To Generate a TBAR Event, click the GENERATE TBAR FILE button on the TBAR menu.
Mclowd displays the Generate TBAR File Filters.
Select the Fund for which events are to be reported.
Mclowd displays a list of TBAR events for which a file can be generated.
Check the box next to events for which you wish to generate a file.
Click GENERATE TBAR FILE to create the file.
Mclowd displays a message indicating that the file was successfully created and noting the creation date and time and name of creator. A Download link is provided to enable you to download and open or save the file. Click Download.
Your computer will offer the option to Open the file, Save, Save As (click the up arrow next to Save) or Cancel.
If you select SAVE AS, your system will name the file ‘tbar file’ and identify it, by default, as a Text Document. You can optionally rename the file with a more meaningful name.
If you Open the file in Notepad, you will see something like this:
This file can now be uploaded directly to the ATO portal.