Welcome to the Mclowd Trustee User Update.


The success of the Mclowd Community has been built in large part on the involvement of thousands of individual Trustees.

Speaking of her participation Trustee user Ann Davis had this to say:

I have been collaborating with Mclowd for over two years now, and in that time I have grown increasingly confident, both in my ability to manage my SMSF via the software, but also in the ability of the Mclowd Team to incorporate my feedback into ongoing improvements.

Recent releases have included:

  • Upgrades to the Statement of Financial Position (default, comparative and detailed)
  • Upgrade to the Member Benefit Statement
  • Support for numerous pension scenarios
  • The ability to manually create events for Transfer Balance Account Reporting and generate a file for lodgement via the ATO portal

Current priorities include:

  • Year end reports pack
  • Improved support for GST
  • Audit workpapers
  • User interface refresh
  • The ability for Trustees to invite Practitioners to their account
  • The ability to manage listed and unlisted securities via the Asset Maintenance tab

Pro Version

As flagged in the most recent Newsletter, Trustee users can now upgrade to the Pro version of the accounting software.

This version costs just $33 per annum, and includes the following features by default:

  • Centralised transaction screen
  • Online lodgement (via our Partner LodgeIT)
  • Transfer Balance Account Reporting
  • Ad-free interface

For most users the transactions screen will lie at the heart of how they use Mclowd, and in its current form it provides visibility to all data (whether imported manually or via an automated feed).

The next version of this screen is due for release in the September quarter, and will support:

  • Improved editability
  • Transaction splitting
  • Bulk coding
  • Allocation rules

This will be invaluable for users who want to speed up the way in which they process the transactions for their fund.

Simply click on the upgrade button, which can be found at the top of every page in the application, and follow the prompts.

Bank and Broker Data

The Federal Government recently announced the details of the “open banking regime“, which is designed to drive increased competition in the financial services sector.

These measures will oblige banks (large and small) to make transactional data freely available to third parties such as Mclowd.

As this data comes online, Mclowd will build these feeds into the Pro version, which will have two primary benefits:

  • It will eliminate the need to purchase the same data from third party aggregators (current cost $44 per annum)
  • The data will power further automation for Trustee users

Over time we also expect to create direct feeds for broker data (which would similarly be included in the Pro version).

Mclowd Marketplace

The Mclowd Community was designed from inception to allow Trustee users to craft a workflow for their fund which suits their specific requirements, regardless of their level of interest / capabilities.

Some users (particularly those in retirement phase) may have more time than others. Some may have more general accounting (or SMSF) knowledge. Others may just want to find a full-service relationship that is far cheaper than their current provider.

Regardless of that user profile, Mclowd is flexible enough to support everyone.

This includes:

  • Accessing auditors, accountants and other SMSF professionals via the Marketplace (on a recurrent or one-off basis)
  • Purchasing paid extras such as data feeds and actuarial certificates

Trustees who haven’t yet explored the Marketplace are encouraged to click on the relevant tab and view the dozens of service providers who are both:

  • Familiar with Mclowd
  • Ready, willing and able to assist you


Trustee users have been critical to the success of the Mclowd Community.

In the early days this was all about providing the feedback that drove our priorities.

However, with Trustee registrations now approaching 4,000, more and more of whom are buying the Pro Version of the accounting software and engaging services through the Marketplace, this group are increasingly powering the investment in future development – to the benefit of the entire Community.


Graeme McGuire

Product Manager
Mclowd Pty Ltd