When you set up Mclowd™, you create accounts for the individual members of your Fund. Certain types of transactions affect an individual’s account balance as well as the balance for the Fund.
For example:
•a pension payment to a Member reduces the Fund’s cash balance, but also reduces the individual Member’s Balance.
•A contribution by a member increases the Fund’s cash balance, and also increases the Member’s Balance.
Some funds allow members to choose to their investments and hold segregated investments. Income from those investments accrues only to the member holding that asset.
Many of Mclowd™’s transaction entry screens feature an account selection drop-down to enable you to specify whether the transaction you are about to enter affects the Fund globally, or an individual member’s account.
The drop-down account selection list may display both Fund and Entire Fund, as well as individual account names. In such cases:
o Fund refers to the Fund, EXCLUDING segregated transactions or holdings of individual members.
o Entire Fund refers to all transactions or holdings, including segregated transactions or holdings of individual members.
When you generate reports in Mclowd™, Mclowd™ may ask you to specify the account. A drop-down selection box usually appears at top left on reporting screens.
For more information about Account selection, refer to Understanding Segregated Assets.
