startEntering opening balances
How To

Entering opening balances

CCH Fixed Asset Register
Last update: Reading time 2 minutes
Opening BalancesGetting Started

    Opening balances in CCH Accounts Production

    The opening balances need to be present within CCH Accounts Production, if the opening trial balance has not been set up:

    • Enter the Opening Trial Balance as a journal.  When the journal is posted, the system recognises the posting to one or more Cost B/Fwd accounts and an Analyse in Fixed Asset Register? message appears.

    If the opening trial balance is present:

    • Create the assets in the Fixed Asset Register to match the balances that have already been posted to the Cost B/Fwd and Depreciation B/Fwd accounts.

    Adding assets

    From within the Fixed Asset Register (icon on the CCH Accounts Production home screen ribbon) on the Asset Summary screen, click on the hyperlink of the Asset Class to add assets.

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    From the Asset Class screen, click on the icon New on the ribbon

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    The Asset screen will open.

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    Enter the Asset Code (or accept the default), Asset Name and select the Depreciation method from the drop down menu under Original Depreciation Method. Click Save.

    The Asset Movement screen opens.

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    Select the Movement as Cost B/Fwd.

    The date defaults to the year start date.

    Enter the description, the Value as the cost b/fwd and the Depreciation. Click Save.

    You are returned to the Asset screen and can browse from there, using the Breadcrumbs, to take on your next asset.

    Continue until each Asset Class on the Asset Summary is listed with Agrees with AP as Yes.

    Importing from MS Excel /CCH Accounts Production (VAP)

    In this case you will probably wish to import the assets and their Costs B/Fwd. There are two options to do so:

    • Import from Excel This option allows you to import assets and their Costs B/Fwd from a spreadsheet saved in a CSV file. The spreadsheet must be in the correct format to be imported. The Import from Excel is also useful if you want to import data from another fixed asset register system that has the ability to export data in Excel format.
    • Import from VAP This option allows users of the old VAP FAR to import assets that they have exported to a CSV file.

    Related documents

    Part Disposals
    Part Disposals
    Changing Entity Type
    Changing Entity Type
    Asset Movement
    The document outlines the functionality of the Asset Movement screen, detailing how asset transactions are recorded in the Fixed Asset Register, independent of CCH Accounts Production. It describes five types of movements: Cost B/Fwd, Addition, Adjustment, Revaluation, and Disposal, each with specific criteria and purposes. The document also covers the protocol for asset movement dates, especially concerning finalized periods, and discusses the Change of Method movement for altering depreciation methods. Additionally, it includes guidelines on how movements affect nominal accounts and the conditions under which movement deletion is permissible.
    Asset Classes
    The Asset class section is used to define the ledger accounts which must be used for the posting of the asset transactions and the method of depreciation.
    Master Asset Classes: Fixed Asset Register
    The document outlines the functionality of Master Asset Classes within the Fixed Asset Register's Set Up screen in CCH Accounts Production. These classes provide default settings for client-level Asset Classes and are integral to the CCH chart of accounts versioning system. While Master Asset Classes cannot typically be edited, users can modify them when creating a new Practice Master Pack. Access to Master Asset Classes is through the Set Up screen or the menu path: File > Maintenance > Accounts > Master Asset Classes.