Mistakes happen. Changes make corrections necessary.
Professional advisers suggest better ways to handle recording of particular income types, contributions etc.
From time to time, every Mclowd™ user will want to alter the way a transaction was entered.
At the time of last updating this (August 2018), the Mclowd™ team is planning extensive improvements to the software to make editing simpler, and to expand the options available to users to make changes and corrections with safety, and without compromising the audit trail.
At the moment, most transactions are most conveniently corrected by reversal and re-entry.
Locating the Incorrect Entry...
You may spot the incorrect entry in a report, or when viewing details in the Accounting Screen or a list of entries.
Sometimes the entry ID will be linked to the transaction. An underline indicates a link that allows you to access the transaction.
Reference numbers begin with an alpha code that indicates the type of transaction.
Transaction IDs beginning with (prefix): |
are: |
and can be accessed for editing via the: |
IN |
Income Entries |
Income Tab |
EX |
Expense Entries |
Expenses Tab |
PAY |
Payment Entries |
Expense Tab - Click ENTIRE FUND to view payments to members in the Expenses list. These are payments (e.g. pension payments or commutations) |
TFR |
Bank Transfers |
Bank Tab |
JE |
Journal Entries (Liabilities Only) |
Liabilities Tab |
JE |
Journal Entries (Receivables Only) |
Receivables option on the Settings Menu |
JE |
Journal Entries (all) |
Journal Entries option on the Settings Menu |
DR |
Direct Reinvestments |
Income Tab |
YE |
Year End |
These are automated calculated by Mclowd™ and are not editable, but you can RESET data before the GL is rolled over, and you can REVERSE a Rollover and RESET data to completely re-do the year end process |
To Edit Details of: |
||
ASSETS |
Assets Tab - Choose asset by name |
|
BANK ACCOUNTS |
Bank Tab - Select the account by name |
|
FUND |
Fund Setup on the Settings Menu - Choose FUND DETAILS |
|
MEMBER INFORMATION |
Fund Setup on the Settings Menu - Choose MEMBER DETAILS, then select Member by name |
|
FUND TRUSTEE(s) or ADDRESS |
Fund Setup on the Settings Menu. Select FUND DETAILS. |
Correcting the Entry...
When you detect an entry error or see an entry that needs to be changed:
•Click to open the entry and view details.
•Look for the REVERSE button (usually located in the bottom left corner of the screen)
•Click REVERSE.
Some transaction screens (e.g. Income and Expense transactions) ask what you would like to do and display a drop-down selection list in which you need to select REVERSE. It may be selected by default.
Enter the transaction correctly, just as if you had never entered it.
Refer to examples of correcting:
oA dividend reinvestment entry
