How To
Year End (FAR)
CCH Fixed Asset Register
Year End: CCH Fixed Asset Register
No special process is required in the Fixed Asset Register (FAR) to perform a year end. You just perform a Year End in CCH Accounts Production in the usual way. The system does not let you proceed if either:
- The nominal ledger does not reconcile with the Fixed Asset Register, or
- An Asset Movement has been made in the Fixed Asset Register since last Posting Depreciation.
Although the system warns you at Year End if the nominal ledger does not reconcile or if depreciation needs to be posted, note that:
- It does not warn you at other times, such as when printing a set of accounts.
- CCH Accounts Production and the FAR both allow you to make entries in the earlier Accounting Period which stop the earlier period reconciling. To prevent this you can Finalise the CCH Accounts Production using the option on the Ribbon on the Home screen.
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.