Multi-Currency
Last update:CCH Trust Accounts
Multicurrency - Frequently asked questions
This document addresses a frequently asked question regarding the absence of profit on exchange after selling a holding in investment management software. It explains that profit on exchange is not calculated if the option "Calculate Inv Profit on Exch" is not selected in client classes. The document outlines steps to enable this feature, warns of potential complications such as the need for data backup and the risk of duplicate cost write-downs if manual adjustments were made previously. It recommends testing the setting in a standalone system before proceeding.
CCH Trust Accounts
Multicurrency
This document outlines the multicurrency functionality in CCH Trust Accounts, designed for clients, especially offshore trusts and pension schemes with international holdings. It describes key features, such as the ability to specify historic or closing rates, automatic intercurrency postings, and differentiated capital and income currencies for investments. While useful, it advises that multicurrency should only be enabled when necessary, due to the added complexity it brings to accounting processes. Additional detailed guidance is available in the Help section and accompanying documentation.