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Revaluation at migration

The next step in the Fund setup process is revaluing your Fund’s assets.

You have entered all your assets at their original purchase price. Mclowd will have updated some of the values as at the valuation date on the asset valuation at time of migration. However, Mclowd only updates the values of those assets on the ASX. You should check the values set at the correct value for that asset on your migration date.

On the Fund Setup button menu, choose Review & Edit Revaluation at Migration and then choose EDIT.

You will be presented with the Asset Revaluation at time of Migration screen, with the date correctly set at 30/06/yyyy (with yyyy being your start year).

Note: You should verify that the date is the day before the day you have chosen to start recording transactions in Mclowd.

On this screen you will notice that the PRICE PER UNIT is greyed out. You can edit the number of units and Asset value as at migration date. Mclowd works out the capitalised cost from when you added the asset. The gain/loss at time of migration based is calculated by Mclowd.

You CANNOT edit the price per unit on this screen. For direct equities, ETFs, and stapled securities, Mclowd should have recorded the closing price for 30 June of the migration year. We advise you to check the volumes and price per unit that Mclowd has recorded for those assets recorded on the ASX. However, Mclowd will not have updated the values for other assets like Unit Trusts, Managed funds, etc.

Editing Unit Numbers as at 30 June of migration year

Check the Unit numbers for each asset to make sure they are correct as at 30 June in the migration year. If they need correcting – update the unit/share numbers for that particular asset. You can edit the unit numbers by overwriting the correct number into the field. If you are updating the unit numbers, check and update the Asset value, as this does not automatically update if you change the unit numbers. You will notice that the price per unit will change if you update the unit numbers.

Editing Asset Value as at 30 June of migration year

Check the Asset value for each asset. If any are incorrect, then update by overwriting the current asset value in the field with the correct value. The price per unit will change if you update the asset value.

Updating Asset Valuation

If you do update either the Unit numbers and/or the Asset value, then choose UPDATE. Mclowd will ask you to confirm that you wish to overwrite previous values by choosing OK.

If your Fund has segregated assets, repeat the revaluation process for assets held in member accounts.

When revaluation is complete, you can check your Asset values by running an Investment Holding Report as at the Start Date (from the REPORTS tab).

Now, proceed to the Receivables section of the setup process.