The Reports menu is access via the Reports tab on the main tab menu.
Click the Reports tab to display a list of available reports, categorised as:
•Other Reports, and
Asset Reports include:
•Statement of Financial Position: Provides totals values of each class of investment, total values of other assets totals in each type of liability, asset and liabilities totals, net asses to pay benefits, and benefits payable for each member account, and final balance
•Statement of Financial Position - Comparative: As above, but with comparative figures for the selected and previous year.
•Detailed Statement of Financial Position: Same as Statement of Financial Position, but with much more detail, including the value of each individual asset held.
•Capital Gains Report: A listing of assets for which capital gain or loss has been realised (e.g. via disposal) with the purchase and CGT dates, quantity, date sold, sale price, cost basis and realised gain.
Banking Reports currently comprise only the Banking Transaction Report:
A full listing of all deposits to and payments from the selected bank account(s), with opening, closing and running balances shown.
Income Reports include:
•Operating Statement: Totals for each income and expense account and total benefits accrued as a result of operations (before and after income tax)
•Operating Statement - Comparative: As above, but with comparison figures for both the selected and previous financial year.
•Detailed Operating Statement: Same as Operating Statement, but listing each individual transaction in each of the included income and expense accounts.
Portfolio Reports include:
•Investment Movement: Lists each asset with its starting cost base and details of purchases and sales, disposed cost base, ending cost base, and gain or loss.
•Investment Holding Report: A categorised listing of all assets with number of units, average cost per unit, market value per unit, market value date, total cost, total market value, and unrealised gain/loss in both dollar and percentage terms.
Other Reports include:
•Journal Entries: A listing of all income, expense, transfer, acquisition, manual journals, reversals, etc. for the period with date, transaction code, description, and debit and credit amounts
•Trial Balance: A standard accounting trial balance report displaying debit or credit balance in each account and debit and credit totals
•General Ledger: A standard accounting general ledger report listing all transactions categorised by account code and with opening and closing balances for each account.
•Member Benefit Statement: A detailed statement of member account opening balance, increases, withdrawals and closing balance, noting Preserved, Restricted Non-Preserved and Unrestricted Non Preserved amounts, and taxable and tax-free components. Increases are itemised as contributions of various types, proceeds of insurance policies, share of net income or loss for the period, and transfers in or from reserves. Each member should receive a copy of their member benefit statement annually, and at any time that they convert an account from one type to another.
•Contributions Cap Report: A report indicating the applicable Contributions Cap for each member and remaining limit (with the qualification that Mclowd™ can only report on contributions entered into the platform, and members need to review their contributions for years prior to migration to determine correctly if they have reached their contribution cap for a given three year period)
•Property Expenses: A listing of expenses incurred in the management of an investment property, optionally excluding depreciation expenses.
Tax Reports
•Capital Gains Tax (CGT) Schedule: Replicating the Australian Taxation Office's Capital Gains Tax (CGT) Schedule, this report provides a listing of asset types with tax return column indicators and relevant amounts.
•Losses Schedule: Replicating the Losses Schedule portion of the ATO tax return form, this report details tax losses and capital tax losses carried forward to later years with ownership test section, details of unrealised losses, life insurance company losses, foreign company losses,and tax losses reconciliation statement.
•Tax Return Report: This not actually a report, but notes Mclowd's integration with LodgeIT™ and the facility for Mclowd Pro Version and Mclowd Premium Version users to generate a Tax Return for audit purposes. A link is provided to a Help video.
If there are reports you need to produce that are not included on the menu, please feel free to contact Mclowd™ with a request.
For details of document templates listed on the reports menu, refer to Document Templates.
