Welcome to the Mclowd Community Newsletter.
Introduction
Active Practitioner and Trustee users continue to drive the evolution of the Mclowd platform, with product releases now occurring almost daily.
There have been over 50 deployments large and small since 1 July, culminating last week in 9.0.0, which included the new user interface.
The continuous delivery of new functionality is reflected in the number of Practitioners joining the Community as well as existing users adding more funds.
As a consequence revenues are up over 90% in the last 12 months.
Reports Pack
We have steadily been working through improvements to the formatting of individual reports.
An example of the updated Reports Pack can be downloaded here.
The next phase of this project will focus on the notes to the financial statements.
Knowledge Base
We have now replaced the various elements of the previous online help centre with a unified and more searchable Knowledge Base.
Just as important, the Support Team are now able to update content in real time based on:
- Active support tickets
- Scheduled software releases
Direct Property – Depreciation
Based on feedback we have made additional changes to the logic regarding depreciation for direct property, with users now able to configure depreciation items as either a deduction or tax adjustment.
Deduction:
- Reflected in the operating statement, trial balance and tax return
- Shown as a deduction from the property cost
Tax adjustment:
- Reflected in the tax return only
- Excluded from the operating statement and trial balance
- Reflected as a deduction only upon disposal
Many thanks to the Practitioners whose collaboration helped deliver this outcome for all users.
Conclusion
While equity markets are doing a good job of ignoring macroeconomic reality (ably assisted by politicians who are quite willing to burden future generations with crushing levels of public debt), nonetheless retirement assets are not generating the returns they once did.
Whether it is SMSF Professionals saving on licence fees or Trustees accessing services via a transparent and competitive Marketplace, the Mclowd Community is perfectly suited to an investment landscape where yields have fallen and costs need to be contained.
Regards
Ashley Porter
Managing Director
Mclowd Pty Ltd