Running the CCH SecTAX Conversion

The CCH SecTAX conversion program looks for a match between the Central Client Code and the CCH SecTAX Client Code. If no match is found then a new Central Client can be created providing you have set the option for Create New Client to True on the Settings window.

The conversion program has been designed to run on multiple occasions so an Overwrite Duplicates setting has also been provided.

The conversion program has been configured so that it can be used on multiple occasions and allows you to select which clients you want to convert and at which date. If you select April 5th 2015 the conversion will extract a set of closing balances as at that date and create a set of opening balances in the period April 6th 2015 to April 5th 2016. The earliest date that can be selected for conversion is April 6th 2008.

The conversion interface displays whether the CCH SecTAX client already exists in Central.

Setting the Security Mapping

Prior to conversion a security map needs to be created. This checks that the security codes in use in SecTAX are valid, up to date and recognised by the CCH CGT and Dividend Scheduling securities database.

Securities will be classed as either Valid, Valid but Defunct or Not Recognised. Any cases that contain codes classed as either Valid but Defunct or Not Recognised need to have the codes replaced in CCH SecTAX by valid codes before they can be converted. Sedol and ISIN codes used in CCH SecTAX will be replaced by CCH codes unless you have a London Stock Exchange licence to use Sedol codes. For securities classed as Valid but Defunct and/or Not Recognised use the CCH Security Codes website to add new codes.

If all the securities in the batch are classed as Valid click the Create Map button – the securities map is needed to perform either a Pre-Validation or a live Conversion.

Pre-Validation

The conversion program contains a Pre-Validate facility that will process the conversion without creating any data in the Central database. The pre-validation report will then highlight any issues encountered when the full conversion is processed. The log will look as it would in the live conversion with the exception that each line is prefixed with 'Pre Validation'. Any issues highlighted by the pre-validation should be corrected in CCH SecTAX before converting the client.

It is possible that no issues are highlighted by the pre-validation in which case the log will simply report 'Pre Validation Converted, Client Code, Client Name, Fund Name'.

Transactions maybe excluded from the conversion for a number of reasons such as a missing 31.3.82 value, a missing GBP value or a holding error.

Pre-validation is not a mandatory step in the conversion process but it is useful in highlighting the issues that will arise during conversion. A security map must be created before the pre-validation routine can be processed.

Conversion

Once a security map has been created you can then proceed to convert the selected clients. Click the Convert button to start the conversion.

Any transactions that are not converted will be reported in the conversion log which will be displayed on screen following the conversion and can also be found as a text file:

•  SecTaxConversionReport.log - in your CGT and Dividend Scheduling Temp folder,

…\ProSystemData\CGT and Dividend Scheduling\Temp.

Any issues highlighted by the conversion should be corrected in SecTAX before converting the client.