Mclowd's generate TBAR file function takes the data you entered in a specific TBAR Event (created by Adding a TBAR Event), adds data extracted from the database relating to the relevant Fund and the relevant Member, and creates a text file that you can upload to the ATO Business Portal to satisfy TBA reporting obligations, thus avoiding the necessity to manually complete the TBAR form provided on the ATO website.
By utilising this process, Trustees are able to satisfy reporting obligations, plus keep an accurate record in Mclowd™ of all reports filed, and ensure ongoing calculation of TBAR balances and caps.
Before generating a TBAR File, you must ADD a TBAR Event with status of PENDING. Events with a status of MANUAL will not appear in the selection list for file generation.
