To ensure your Fund’s portfolio is correctly valued, it may be necessary to revalue certain Fund assets from time to time. For example, you may receive a statement from a Managed Fund advising of a change in unit value, and wish to record this. Or the value of a property, art work, motor vehicle, etc. may change due to market conditions.
Assets should be routinely revalued at the end of each Financial Year.
Note: When transitioning between Accumulation, Pension or Transition to Retirement phases, it may be imperative that asset valuations are updated on a critical date. This may require professional revaluation of Property and other assets. Consult a professional for advice if a Fund member is planning a transition.
Fortunately, Mclowd makes recording updated asset values process simple.
To revalue assets other than Direct Equities, click the ASSETS tab, the click ASSET VALUATION.
The following screen will be displayed:
Note: Mclowd updates values of most Direct Equities listed on the ASX by direct data feed. Assets supported by this data feed do not need to be revalued, including at year end / period processing.
Scroll to locate assets that Mclowd does not automatically revalue (e.g. Managed Funds, Unit Trusts, Direct Property, Alternative Assets).
In the Valuation Date field, select the date the valuation change occurred.
In the Select Account field, select the account that owns the asset to be revalued, or leave the setting at the default ”Fund” if ownership is shared among all Fund members.
Scroll down until you locate the asset you wish to revalue.
Check that the number of units held is correct, and enter the current price per unit.
Note: To write off an asset completely, enter a ZERO value. The resulting capital loss will be automatically calculated.
Continue entering adjusted values until all items to be revalued have been updated.
Scroll to the bottom of the page and click UPDATE to save the adjusted values.
If you now view the Summary page, you should see the updated values reflected in the total Portfolio value displayed.