When you progress to Distribute Member Net P&L, Mclowd displays:
As the final step in the year end process, Mclowd will allocate specific member income and expenses (e.g. income and expenses relating to any segregated assets) to the appropriate member accounts.
Mclowd will display the overwrite warning and allow you to either click OK to proceed or CANCEL to revert to the previous input screen.
Mclowd confirms specific member distributions have been completed and provides a link to the Accounting Page where you can inspect updated balances if desired.
Click NEXT – CLOSE FINANCIAL YEAR to complete the year end process and roll over to the next financial year.