Welcome to Mclowd Self-Managed Superannuation Fund (SMSF) management system, and an exciting new way of reducing the time and cost of management and compliance.
The Australian Securities and Investment Commission’s Money Smart website (www.moneysmart.gov.au/superannuation-and-retirement/self-managed-super-fund-smsf) states:
‘An SMSF is a private superannuation fund, regulated by the Australian Taxation Office (ATO), that you manage yourself. SMSFs can have up to four members. All members must be trustees (or directors if there is a corporate trustee) and are responsible for decisions made about the fund and for complying with relevant laws.’
Consistent with this governing law, Mclowd SMSF Management System caters to Self-Managed Superannuation Funds with up to FOUR members. Any number of member accounts can be set up under each member and there is no limit to the number of accounts Mclowd can handle, but there is a four member limit.
Your Mclowd Account will enable you to enter and maintain details of all assets and liabilities of your Fund, as well as income, expenses, member contributions, pension payments, etc. It will give you, on demand, an up to date overview of the net portfolio value and the distribution of assets.
Mclowd will also automate tedious tasks such as calculating end of year totals, producing reports, and calculating your tax obligations. For a small fee, you can opt to have Mclowd software transfer relevant data directly to a Tax Return form in LodgeIT (http://www.lodgeit.net.au/) to automate tax return preparation and lodgement. You may also opt, for a small fee, to have Mclowd automate the import of bank transaction data.
By giving you total transparency, it will enable you to minimize the costs of management and compliance, verify the quality of advice and professional services, and position you to monitor and maximize returns on investments.
The Mclowd Marketplace
Membership in the Mclowd community will position you to communicate with technical staff and other users to improve your knowledge, and to access quality service providers whenever needed, at the lowest possible cost. Mclowd’s Marketplace even lets you post job requirements and invite bids from service providers, enabling you to select the best value provider available to deliver the services you need. The Marketplace enables you to liaise efficiently with your service provider throughout the progression of a job, and offers a money-back guarantee that the service provided will be of high quality and will fulfil your requirements.
Data Storage and Security
Your Mclowd account is located on a secure server in the Cloud and accessible from any internet-connected computer, at any time.
Mclowd operates reliably through all popular browsers, including Internet Explorer, Microsoft Edge, Google Chrome, Mozilla Firefox, Opera and Safari.
Because the software is maintained on the Cloud server, you never have to worry about updates to files stored on your computer. You will have access to the very latest version of Mclowd at all times.
Security is tightly managed by the Mclowd technical team, and data backups are rigorously maintained. Your email address and password restrict access to your data, so it’s important to select a password others will struggle to guess, and to change it from time to time. MFA security is also available (and highly recommended) as an option should you desire tighter security. You can order this from the Your Account section (accessed through Mclowd Account on the Settings Menu, top right above the tabs) when you are logged in to your account.
The Mclowd Community
Mclowd community members enjoy ready access to a series of help videos, a community forum where you can ask questions, discuss issues, and acquire new knowledge, and a newsletter, which you can sign up to receive by entering your email in the field at bottom right of the Mclowd Home Page. Find back issues of the newsletter at https://www.mclowd.com/newsletter/, or check out the Mclowd Blog for company and community updates and industry news.
Mclowd User Manual
This user manual is intended to assist you to learn how to enter and manage data and generate reports quickly and efficiently. The author welcomes your feedback to assist in ensuring instructions are as clear and easy to understand as possible.
Mclowd has a dedicated Support Team who will respond promptly to any questions or feedback you may have. Support is offered free of charge to users of the Pro or Premium version of Mclowd. Users of the Free Forever version may offer Feedback, including submission of feature or improvement suggestions, by clicking the Feedback option in the Mclowd Help Centre (accessed via the HELP tab or at https://www.mclowd.com/support/feedback/
Congratulations on your decision to join the Mclowd community. Now let’s begin!