Practitioner Edition

11.5 Year End Processing: Distribute Member Transactions

In this step, all member specific  transactions such as contributions, insurance premiums, pensions, etc. are allocated to the member accounts.

NOTE: This does not save allocated profits. Profit distribution will be completed in the next step.

When you click DISTRIBUTE MEMBER TRANSACTIONS, Mclowd will display:

Distribute member transactions

Read the warning message and take care to verify that all transactions for the financial year have been correctly entered before proceeding further.

When you are confident, click the DISTRIBUTE MEMBER TRANSACTIONS button at bottom left to proceed.

Mclowd displays a warning that the next step will overwrite any previous entries you have made. Verify that you are happy to proceed by pressing OK.

Confirm you wish to save member transactions distribution

Mclowd confirms that the distribution has been completed and provides a link to the Accounting Page to enable you to check the updated balances.

Member transactions distributions saved

Click NEXT – DISTRIBUTE MEMBER NET P&L TRANSACTIONS to move to the next step.

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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