Prior year income and expenses
Entering Income and Expenses for the previous year is not essential, but doing so enables comparisons between the previous and current year.
Refer to a printed Trial Balance or General Ledger Report for the year prior to your Migration Year to complete the Income and Expense table.
Click the EDIT button in the Income and Expense Balances row on the Fund Setup menu to enter last year’s balances.
The following screen will be displayed.
After entering all income items, scroll down to the Expenses section and complete.
When all income and expense items are entered, Mclowd will calculate and display totals.
If the totals are correct, click SAVE OPENING BALANCES, then click BACK TO FUND SETUP.