When the allocations are complete, the year-end process is complete and the general ledger may be closed and rolled over to next financial year.
Clicking NEXT – CLOSE FINANCIAL YEAR causes Mclowd™ to display the Roll General Ledger screen.
Select Yes if you are confident Year End Journals are complete and correct. Then click PROCESS.
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The clearing account balances must be zero for the year to roll over.
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Mclowd™ asks you to confirm that you wish to close the financial year.
At this point you can still Cancel and go back to the Actions Menu on the Financial Periods screen and Reset any data you wish to amend. Once you have Rolled the GL, you will have to Reverse New Year to make any changes.
Click OK to continue.
Mclowd™ displays the Financial Periods screen.
The Actions menu for the year just processed will now show (for Mclowd Pro Version and Mclowd Premium Version users):
End of year financial statements and member benefit statements will now be available by selecting the Reports tab.
At this point, you should move to the REPORTS tab in Mclowd™ and print final reports.
For users of Mclowd Free Forever Version, this ends the Year End process. Your actions menu will now show:
If you wish to download Tax File Data and/or lodge your Fund tax return using 
, you will need to upgrade.
Go to https://www.mclowd.com/plans-and-pricing-trustees/ or https://www.mclowd.com/plans-and-pricing-practitioners/ for more information.
Users of Mclowd™ Mclowd Pro Version or Mclowd Premium Version should continue to Lodging the Fund Tax Return.
If you are a Trustee with no professional qualifications, and have proceeded to this point on your own, you may wish to hand over to a practitioner at this point, particularly if there is a requirement for your Fund to be audited, and/or if you wish to have a professional complete your Fund tax return for you.
Although Mclowd™ enables Trustees to complete the entire year end and tax return lodgement independently, you may need an auditor to sign off.
If you give your accountant access to your Mclowd™ account, Pro and Premium version users should be able to nominate them as a user in your account and have them complete your return following the steps listed in Lodging the Fund Tax Return.
