Updating FAR: CCH Personal Tax
Last update:CCH Fixed Asset Register
Part Disposals
Part Disposals
CCH Fixed Asset Register
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.
CCH Fixed Asset Register
Tax Links screen
The Tax Links screen facilitates data integration between CCH Personal Tax and CCH Accounts Production or the Fixed Asset Register for personal, partnership, or trust clients. Key features include automatic updates from Accounts Production, optional import of Fixed Asset Register data, custom settings for each tax year, and the ability to handle draft or final accounts. Users must export data from Accounts Production for it to be read in Personal Tax. Further details can be accessed in the CCH Personal Tax Help resources.
CCH Fixed Asset Register
Import from VAP
This document outlines the process for importing fixed asset data from the CCH VAP Fixed Asset Register into a new Fixed Asset Register (FAR). It involves exporting VAP data to a CSV file and then importing it into Central, where existing assets may be deleted as needed. The instructions detail the steps to export data to CSV, format it correctly in Excel, and then map VAP Asset Classes to FAR Asset Classes during the import process. It emphasizes that only assets not marked as sold will be imported, ensuring accurate data transfer.
CCH Fixed Asset Register
Tax Links Tab
The Tax Links tab in CCH Central facilitates data transfer from CCH Accounts Production and the Fixed Asset Register into CCH Corporation Tax. Users can specify whether to import Fixed Asset Register data along with Balance Sheet data for each Period of Account. If the appropriate option is not selected, data will not be imported. Previously imported data can be edited. The document also references differences in using the Tax Links screen with the Fixed Asset Register compared to other data in CCH Accounts Production.
CCH Fixed Asset Register
Editing Additions and Disposals in Corporation Tax
This document provides guidance on how to manage Additions and Disposals in Corporation Tax, imported from the Fixed Asset Register. It explains the process for editing fields such as asset description and tax value, and highlights the importance of updating the Fixed Asset Register for more accurate data. Key actions include linking additions to the Capital Allowances screen and maintaining changes when re-importing data. It also covers the need to adjust Balance Sheet categories for small companies and how to unlink accounts for updates.
CCH Fixed Asset Register
Allocating Additions and Disposals in CCH Personal Tax to an Asset/Pool type
The document provides guidance on handling unallocated movements in a Fixed Asset Register after updates from accounts. It highlights that a warning appears for movements not assigned to an Asset/Pool type. Users are instructed to navigate to the Business Tax section to select the relevant business and accounting period, then access the Capital Allowances tab for a list of asset/pool types. It details steps to follow for resolving unallocated movements, including clicking links to analyze asset balance movements for tax purposes.
CCH Fixed Asset Register
Differences Between Importing into Tax from CCH Accounts Production and FAR
This document outlines the process of importing financial data into Tax software, specifically for Corporation Tax and Personal Tax. It details the integration with Accounts Production and the Fixed Asset Register, including options to enable or disable these links. Key points include data import settings, the ability to edit imported fields, and the implications of unlinking the Fixed Asset Register. Manual edits to the data are discussed, emphasizing that alterations may be lost upon subsequent updates from Accounts Production. The document serves as a guide for managing tax data integration efficiently.
CCH Fixed Asset Register
Overview
The document provides an overview of the Business Tax feature in CCH Personal Tax, detailing how to access and summarize Accounting Period balances. It explains the integration with CCH Accounts Production and the Fixed Asset Register, outlining the data flow between these systems. Key topics include setting up tax links, exporting and importing data, and allocation of asset movements in CCH Personal Tax. Several internal links offer guidance on specific procedures related to this integration, enhancing user experience and data management.
CCH Fixed Asset Register
Movements
The document explains the Movements screen functionality when a Personal Tax client is linked to a Fixed Asset Register (FAR) client, highlighting additional columns for accurate asset allocation. It discusses how imported movements are categorized and the implications of editing and reallocating assets or pools. Fields from FAR are disabled and require updates at the source, while options for asset types and movements are provided. The document also outlines procedures for managing disposals and the automatic deletion of the Unallocated pool type after all movements are allocated.