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:
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.
Mclowd confirms that the distribution has been completed and provides a link to the Accounting Page to enable you to check the updated balances.
Click NEXT – DISTRIBUTE MEMBER NET P&L TRANSACTIONS to move to the next step.