In the Other Reports group, you can select
- Journal Reports (to print a list of journal transactions),
- Trial Balance and General Ledger reports,
- Member Benefit Statements, and
- Property Expenses Reports.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The Contributions Cap Report lists each member’s Concessional and Non-Concessional Contributions and any excess or unused contribution allowance.
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.
The resulting report will appear as:
Or, if a PDF Report is selected: