How To
Changing Entity Type
CCH Fixed Asset Register
Changing Entity Type
Some clients can be converted to a different entity at Year End. For instance, a partnership can be converted to an unincorporated client. In this situation, the nominal accounts that are held in the Fixed Asset Register are not automatically converted to the nominals used by the new entity. Accessing the Fixed Asset Register for the first time after converting prompts the message:
The nominal accounts on some Asset Classes are invalid and must be corrected before you can use the Fixed Asset Register.
On clicking OK you are taken into the Setup screen where the invalid nominals are highlighted in red. To speed up correcting them, click on View on the Ribbon to see the Master Asset Class nominals.
Related documents
Part Disposals
Part Disposals
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.
Quick Start Guide
A comprehensive detailed Quick Start Guide available for download. Users can also access sample reports for the Fixed Asset Register to better understand reporting styles. Links to visual aids, guides, and report samples are provided throughout to facilitate the learning process.