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In this step, you will choose whether or not you wish to revalue assets held by your Fund.
Note: For most equities listed on the ASX, the value as at 30 June is available in the Mclowd database and will be automatically picked up and presented in the summary table. For other assets, you should use your end of year statements, consult your financial adviser, or navigate to a relevant website to look up unit values as at 30 June and manually input the 30 June unit price for each asset.
Choose the down arrow to the right of Please Select… to drop down the options.
Mclowd asks you to decide whether to simply Accept Calculated Values or Review and Edit Asset Prices.
When you choose SAVE, a check mark and the word ‘Saved‘ will display under STATUS, indicating that the values have been saved.
If you choose Review and Edit Asset Prices, the EDIT button is displayed to allow you to edit the Year End Market Revaluations.
Note: If, having chosen to SAVE values, you change your mind and decide you wish to view or EDIT the values, simply choose the arrow to the right to the Please Select… field again and choose Review and Edit Asset Prices.
Choose the EDIT button to display the Year End Market Revaluation table and edit the values of assets your Fund holds.
Check that the Valuation Date displayed is June 30 for the year you are closing.
Confirm that the Price Per Unit (Share) and Number of Units (Shares) are displayed correctly. If not, you can make changes in either of these fields. The Total Value of the holding will the display, together with the calculated Gain/Loss at Year End.
You should carefully check and confirm that:
- All of your Fund’s investments are listed (including any that were acquired during the financial year);
- All investments are correctly named and displayed IDs and Asset Classes are correct;
- Mclowd™ correctly displays the number of units (shares) held as at June 30;
- The price per unit (share) displayed is correct.
(You may need to cross-check with the ASX website, the company website, end of year statements from companies, Unit Trusts or Managed Funds, etc., or a report from your financial adviser or accountant to verify that all displayed prices are correct.)
Note: At this point in time, if you have made multiple investments to a Managed Fund or Unit Trust, Mclowd may display each investment as a separate asset rather than consolidating as it does for Direct Equities. You may need to manually add the units acquired at each reinvestment or additional investment in order to verify that the total units reported in Mclowd matches your total holding.
Choose RESET VOLUMES to reset to the latest calculated totals for the displayed date. (This is useful if you feel you may have made an error when editing and you wish to reset to default values for that date and start over. Be aware, however, that the latest calculated totals may be out of date if you have updated your holdings since you last saved the valuation.)
Choose SAVE REVALUATION to save the values shown.
A message displays asking you to confirm that you wish to save these valuations. Click OK.
Choosing YEAR END PROCESS at top left of the table returns you to the main Year End Menu and allows you to progress to the next step (Trust Distributions).
Note: Once subsequent steps have been completed, resetting Market Values or making any changes risks causing errors in tax and income calculations. If you choose to return to this step later and make changes, you must reprocess all subsequent steps in the Year End Process.