Preferences and Settings
Last update:Database Parameters
Various features in Trust Accounts are optional. To set up many of these, from the Activities menu select System Management, and then Database Parameters.
Data Parameters
Various features in Trust Accounts are optional. To set up many of these, from the Activities menu select System Management, and then Database Parameters.
What does CCH Trust Accounts do?
CCH Trust Accounts is an accounting software designed for entities managing investments, including trusts, estates, and pension funds. It features a nominal and investment ledger, and can generate final accounts and Capital Gains Tax (CGT) computations for both the UK and Ireland. Its diverse user base includes accountants, merchant banks, solicitors, charities, and pension funds. CCH Trust Accounts can be used in conjunction with CCH SecTAX, which focuses only on UK CGT calculations without account production. Users can customize functionality based on their needs, switching between investment management and full accounting features.
Data feeds
This document provides a comprehensive overview of data feeds used in CCH Trust Accounts for importing securities data. It explains what data feeds are, their benefits, and reasons some users may opt out. Two primary data feeds—ICE Data Services and SIX Financial—are described, detailing offered services and service levels. Key differences between the feeds include installation methods, security coding, tax status details, pricing, historical data coverage, and handling of complex capital events. The conclusion highlights the advantages of each data feed regarding reliability, ease of use, and data availability.
Double Entry Bookkeeping and Accounts Formatting
This document details the process of trust accounting using double entry bookkeeping, highlighting the setup of new and existing client accounts alongside accounting periods. It explains the balance sheet structure, showing assets, liabilities, and net assets for trust accounts, and discusses the function of nominal accounts in maintaining financial accuracy. Key computations, such as income accounts and capital accounts, are demonstrated, as well as the importance of balances in different account ranges. It also addresses year-end procedures for resetting accounts and ensuring accurate financial reporting.
Movement Codes: CGT
This document outlines the various Movement Codes and associated CGT and Accounting Treatment used in investment ledger entries. Each Movement Code indicates a specific type of transaction (e.g., Bonus, Dividend) and governs its cost treatment for Capital Gains Tax (CGT) and accounting. Key rules for acquisitions, disposals, and income entries are detailed, including calculations for partial disposals and interspousal transfers. Additionally, attributes like Nil Quantity and Heldover Gain are explained, offering guidance for accurately processing investment transactions in compliance with relevant regulations.
Accounts Formatting
The document describes the functionality of CCH Accounts Production within CCH Central, a database that manages client and contact records and serves as a gateway for various CCH applications. It explains the process of accessing the Accounts Formatter through CCH Central and provides troubleshooting steps for login issues or loading problems with the Accounts Formatter.
Accounts Formatting
The document describes the CCH Accounts Production Trust Accounts Formatter (CCH AP Formatter), which enhances account preparation by automating data extraction from the nominal ledger. It outlines licensing requirements, available account types (Trust, Probate, Charity, Limited Company, Pension), and client setup processes. The system features a fixed Statutory Database, supports relationships between clients, and utilizes "accounts pages" for layout consistency. Users can customize master pages while adhering to statutory guidelines. Additional features include suppressing zero rows, automatic page number calculations, and various output options.
Investment Ledger overview
This document provides an overview of the Investment Ledger, emphasizing the necessity of adding securities and properties to the ledger before processing transactions. It distinguishes between two investment account types: Securities Accounts, which have codes and market values, and Property Accounts, which lack codes and market value calculations. The document also highlights the differences between the nominal ledger and investment ledger, including their operational structures and reporting functionalities. Lastly, it guides users on accessing the Investment Ledger through the Client Menu.
US Securities - FAQs
This document outlines methods to receive and import US securities data from different feeds, detailing the Exshare feed from ICE Data Services and the Telekurs feed from SIX Financial. It discusses code alternatives, specifically SEDOL, ISIN, Common codes, and Valor codes. For importing transactions using US ISINs, it suggests consulting brokers for alternate codes or creating a mapping spreadsheet. Additionally, it describes search functionalities available within securities screens, emphasizing the efficient "Quick" search option for finding securities by their names.
Standard descriptions
The document outlines the process for amending standard descriptions used in Trust Accounts. It describes two main categories of lists: those with just narratives and those requiring background information. Users can select tables, add new items, and sort entries alphabetically, or by code or name. Instructions are provided for entering new descriptions, including navigating through blank lines and using the scroll bar. The document also includes images for clarification and emphasizes the importance of organizing lists efficiently.
Securities
The document outlines the management of a securities system, detailing the creation, importation, and data association for securities. Key data includes identification codes (SEDOL and ISIN), types, industry classifications, sorting codes, and financial specifics such as currency and unit precision. It highlights the importance of maintaining historical corporate events like dividends and complex capital transactions, along with price tracking practices using multiple pricing methods. The system also allows for recording changes in security names, ensuring accurate reporting. This structured framework supports both manual entry and data feed integration.
Overview: Year End and Clear Down
The document outlines the processes for conducting a Year End and Clear Down in accounting systems. It details how nominal ledger accounts are closed and balances carried forward, as well as methods for specifying close-off accounts. It also explains the Clear Down function, which deletes old entries to optimize system performance while preserving current year data. Additionally, it discusses options for changing client classes and adopting FRS102 standards, emphasizing the need for backups before making irreversible changes. Security measures, including password protection for the Year End and Clear Down option, are also mentioned.
Overview: Autoload Trial Balances
The Autoload feature enables automatic loading of extra trial balances into the accounts formatter for various purposes, including specific periods, divisions, client accounts, calculated balances, and beneficiary-specific balances. Each loading set, termed 'TB Loading Instructions', has a unique code and description, consisting of multiple lines for trials. These are integrated as Saved Trial Balances in CCH Accounts Production, which are automatically updated in real-time with any changes from CCH Trust Accounts, eliminating the need to restart the application.
Navigation overview
This document provides a guide on basic navigation within CCH Trust Accounts. It describes how to access the client list, select clients, and utilize different menu options such as the left task bar, top menu, or double-clicking a client row. Additionally, it outlines the use of the Find button to search for clients by name or code. The guide emphasizes the improved functionality of the Find feature, which now displays all matching records instead of just the first one, along with a checkbox to filter results. Visual aids are included to enhance understanding.
Licensing in CCH Trust Accounts
This document outlines the licensing options for CCH Trust Accounts, detailing how to access licensing information and how to add a new license key (Telcode). It specifies that users can view their licensing status via the Help menu and offers a comprehensive list of product options, including features like nominal ledger, multicurrency, and various formats for specific client needs. Additionally, it provides step-by-step instructions for entering a new Telcode to update license options, ensuring users have the correct access based on their orders.
Importing transactions using the Transaction Import product option
The document outlines the Transaction Import product option for CCH Trust Accounts, which enables users to import transactions directly from a CSV file, enhancing efficiency compared to manual data entry. This feature supports the import of Bank, Journal, Security, and Property transactions and can be used during initial data transfers or for ongoing imports from other systems. It also mentions a "Special Program" for importing standing data, highlighting the need for caution due to limited validation checks. Users are encouraged to refer to the Transaction Import section for more details.
Import Transactions from a Broker
This document outlines the process of importing transactions from brokers into CCH Trust Accounts. It emphasizes that this import is beneficial mainly for users with over 200 transactions monthly. Users are advised to request data from brokers in specific formats, but brokers often provide data that requires conversion. CCH offers assistance with this process, including the potential creation of conversion programs, possibly at a charge. For manual extraction, a new macro-enabled spreadsheet simplifies the creation of import files. Users interested in these features are encouraged to contact CCH for support.
Exchange Rates
CCH Trust Accounts maintains tables of exchange rates for currency conversions identified by 3-character ISO codes. It allows users to convert amounts through division by exchange rates, differing from the multiplication method used by other systems. Exchange rates are utilized for reporting and multicurrency data entry, with provisions for actual rates to override estimates. The system looks up rates based on the required date and defaults if necessary. Efficient entry of rates is supported through cross rates, and from version 2024.2, users must manually download rates from a specified website due to policy changes.
Currency Codes
This document outlines the functionalities of Trust Accounts for handling transactions in non-Sterling currencies, including converting transactions into both an Investment Account base currency and a chosen Book Currency. It details the process for adding, amending, and deleting Currency Codes within the system, emphasizing the importance of setting UK Sterling as the default code. It highlights the use of ISO codes for currency representation, ensuring compatibility with third-party products. Instructions are provided for managing currency codes through a user interface.
Common-Shared data
The document outlines the Common-Shared Data menu within CCH Trust Accounts, detailing its available options, which include Banks, Client Classes, Currency Codes, and Exchange Rates, among others. It highlights specific items like Interest Base Rates and Interest Bands, which are used for calculating client interest, and notes that certain elements like R.P.I. Tables and Tax Rates are no longer required or commonly used. Each menu choice links to additional help resources for further guidance.
Client Classes
The document outlines the structure and functionality of client classes in a nominal ledger system, categorizing clients into specific classes like trust clients or pension funds. It details client type identification, nominal code configurations, and Profit and Loss (P&L) ranges. Additionally, it discusses currency management linked to client classes and the default nominal accounts that facilitate financial postings. Investment defaults streamline the creation of investment accounts and include important settings for transactions and tax journals. Overall, it serves as a guide for managing client-specific parameters within the accounting system.
CCH Trust Accounts Transaction Import – Special Program setup
The document outlines the functionalities of the CCH Trust Accounts Transaction Importer, a licensed program enabling the importation of various data types into CCH Trust Accounts, including master tables such as nominals, securities, and client information. It highlights the integration of a macro-enabled spreadsheet for consistent file structuring. Notably, there is no delete option for incorrectly imported data, necessitating careful checks prior to bulk imports. Additional data types like security prices and exchange rates can also be imported, with specific instructions for setting up the special program in CCH Trust Accounts.
Banks
The document provides an overview of the bank reconciliation feature, detailing a list of banks identified by a 6-digit sort code. Each bank record includes the name and address of the bank. It explains that banks are referenced by Bank Details records, which define payer or payee bank accounts. Notably, a Bank record can be deleted despite being referenced, leading to a situation where the sort code remains known, but the bank's name and address are lost.