Return to the Fund Setup menu and click the PRIOR YEAR LOSSES button.
Mclowd™ displays the Opening Balance - Prior Year Losses for years before 30 June <start year> screen.
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Enter any losses carried forward from previous financial years. Ensure the totals match the figures at U: Tax Losses Carried Forward to Later Income Years and V: Net Capital Losses Carried Forward to Later Income Years in you prior year tax return.
Click SAVE PRIOR YEAR LOSSES when all losses have been recorded and totals verified.
Mclowd™ asks you to confirm.
Mclowd™ displays a confirmation message. Click BACK TO FUND SETUP to return to the menu.
If all Fund Setup steps have been completed, you are ready to review and close the Financial Year and begin recording transactions in Mclowd™.
