Assets – opening balances

In this step, you will enter the Assets (shares, managed fund units, property, etc.) owned as at the Migration Date.

Select the INVESTMENTS button on the FUND SETUP Menu.

The Assets you have entered so far (the relevant bank accounts) will be displayed.

Note:  DO NOT proceed with recording assets via this screen if the asset was not held prior to 1 July in your Fund Start (Migration) Year.  Assets acquired after the Migration Date must be added via the ASSETS tab or via Bank or Suspense Account Allocation (DATA FEEDS).
 
The ADD NEW OPENING BALANCE button on this screen is only for adding assets held prior to your Migration Date.

Mclowd displays the Assets: Add Opening Balance as at <dd June, <yyyy> screen.

The first step is to select the Member Account that owns this asset. Typically this will be the Fund, but if the Fund holds Segregated Assets, it is vitally important to correctly identify the correct owner Account.

Refer to Understanding Segregated Assets.

Next, you will select the Asset Type.

Note: In addition to the Asset Types listed in the Asset Class drop-down list, Asset Loans are also supported, however these are setup through the BANK tab. Refer to Bank and Loan Accounts.

Assets need to be classified as Domestic or Foreign, by selecting from the Asset Category field drop-down.

From this point on, the  process varies according to the Asset Type selected.

It is useful to understand a few basic concepts that apply to multiple or all equity types:

• Asset Name, Purchase Date and Cost
• Understanding Segregated Assets
• New Holdings only vs With New Parcel
• New vs Existing Holdings
• Add Assets: Listed Entities
• Add Assets: Unlisted & Foreign

Please ensure you understand these concepts before proceeding to add your Investments.