Practitioner Edition

12.8 Reports: Other Reports

In the Other Reports group, you can select

12.8.1 Journal Reports

Journal Entries can be displayed/reported for the Entire Fund, Fund, or any individual account. You can also choose a date range or financial year, and whether to include All transactions, only Active transactions, or only Deleted transactions.

jnlentries_selections

The Journal Report will list all journal entries in date order, noting the Account to which they belong (Fund or member account), Transaction Reference Number, Transaction (General Ledger) account, Description, and amount (as Debit or Credit).

This report can be useful to verify an entry, or to locate a Journal and find its reference number in order to reverse.

jnlentries

12.8.2 Trial Balance Report

The Trial Balance Report is a standard format accounting report. Filters allow you to select the date of the report, whether to include only Active Transactions, only Deleted Transactions, or All, and whether or not to include accounts with zero balance.

trialbal_selections

The Trial Balance report displays Debit or Credit totals for each GL account as at the selected date, ending with the total Debits and Credits.

trialbal1

12.8.3 General Ledger Report

As well as allowing selection of a financial year, the General Ledger Report permits users to select a particular account to report, or ALL accounts.

gl_selections

glacctselection

 

A typical accounting report, the General Ledger Report lists all the transactions in each General Ledger account during the selected period, in dated order, showing the date, journal transaction reference number, description, debit or credit amount and running balance.

The Opening Balance, total debits and credits, and Closing Balance are displayed for each account.

gl

At the end of the report, the total debits and credits are displayed. If ALL accounts were included in the report, these totals should be equal.

gl_totals

12.8.4 Member Benefit Statement

Filters for the Member Benefit Statement allows selection of the Fund or Entire Fund (all member accounts) or a specific member account.


WARNING:  The Member Benefit Statement only shows data that was accurate as at the completion of the last year-end-processing and rollover procedure. It will not display accurate data for the currently-open year. If you are still working on your setup year (the first year of using Mclowd), you may see only the Member Opening Balances in the Member Benefit Statement, or the statement may be blank.

To ensure the Member Benefit Statement displays correct, up-to-date data for the selected period, ensure year-end processing for the relevant year has been fully completed and the relevant year has been rolled over and closed.


You can also select the ”As at” date. Note, however, that Mclowd doesn’t initially display the Date selection field when you select this report. It assumes you want to run the report as at today’s date. By clicking the CHANGE FILTER button, you can select a different date for the report.

memberbenefit_select

 

The Member Benefit Statements summarize all contributions, contribution types, rollovers, tax components, preservation components and withdrawals made from accounts by each Member.

The report includes personal details such as date of birth, tax file number, date member joined the fund, date member left the fund (if applicable) and details of salary, death benefit and nominated beneficiary (if known to Mclowd). Member balances are broken down into Preserved, Restricted and Non-restricted Unpreserved, and Taxable and Tax Free components.

The Detail section lists all transactions grouped as Increases or Decreases and noting the Preserved/Unpreserved status of each transaction.

memberbenefit

View sample Member Benefit Statement in PDF format.

12.8.5 Contributions Cap Report

Filtered only on Financial Year, the Contributions Cap Report can only report contributions that have been entered into the platform for the supported years. You should review contributions prior to migration date carefully to determine whether you have reached your contributions cap for a given period.

contributionscap_selections

The Contributions Cap Report lists each member’s Concessional and Non-Concessional Contributions and any excess or unused contribution allowance.

contributionscap

12.8.6 Property Expenses Report

Mclowd’s Property Expenses Report summarizes property expenses in each classification, for each property owned by your Fund.


NOTE:  To ensure that this report correctly reflects expenditures related to your properties, you must ensure that the expenses are entered correctly, following the procedures explained in Section 7.1.1: Expenses: Property Expenses.


The filters available for selection when printing a Property Expense report are the property owner (Fund/Entire Fund or a Member Account) and either ”As of date” and ”To date” or a Financial Year.

propertyexpensereport_selections

The resulting report will appear as:

propertyexpensereport

Or, if a PDF Report is selected:

propertyexpensereportpdf

 

 

 

 


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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