Nominal and Investment Ledgers
Last update:Divisions
This document outlines the use of Divisions as an alternative to Sub-accounts for subanalysis of nominal account balances. Divisions allow for tracking financial entries per division, facilitating trial balances for specific groups without needing multiple nominal accounts. Key features include ease of setup, optional divisional usage, and preservation of analysis year-end. The document also discusses advantages in reporting for beneficiaries and pension fund accounting. It highlights limitations regarding prior year divisional trial balances, emphasizing caution due to the potential for discrepancies following year-end processes.
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.
Investment Ledger entries
This document outlines the procedures for entering investment and property ledger entries, as well as dividends and interest transactions in a financial management system. It details the steps to input movement codes, transaction dates, references, investments, units, descriptions, amounts, and account details. The document also explains the process of using the Autopost routine for entering dividends automatically, emphasizing the importance of maintaining an up-to-date security database. Key features include options for additional information, capital gains details, and options to modify logged-in and analysis accounts.
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.
Movement codes
This document outlines the details of investment ledger entries, focusing on Movement Codes that identify the entry types (e.g., BNI for Bonus Issue, DIV for Dividend, PUR for Purchase) and their implications for CGT and accounting treatment. It explains the classification of CGT rule codes, differentiating between acquisitions, disposals, and income. Additionally, it describes specific attributes for movement codes, including Nil Quantity, Negative Addition, Heldover Gain, Deferred Gains, CGT Overrides, and Connected Persons. Each attribute influences the accounting and capital gains tax reporting process for investments.
Adding a property to the investment portfolio
This document provides a step-by-step guide on adding a new property to an investment portfolio. Users can initiate the process by selecting the "New Property" option and filling out the necessary fields, including Fund, Class, Description, and various account types (Capital, Income, Expense, and Profit on disposal). It highlights the use of the F2 key for data selection from the Client Chart and allows for user-defined details and categorization of the property. After inputting information, users can confirm the addition by clicking "OK" or cancel to return to the previous screen.
Investment ledger reports
This document provides an overview of Investment Ledger Reports available in the client's Investment Ledger menu, specifically detailing two core reports: the Investment Ledger report and the Investment Schedule. It outlines how to access and customize these reports, including setting transaction dates and displaying selected investments. Additionally, it describes various layout options, tailoring features in the Conditions and Columns tabs, and additional functionalities like rounded investment schedules and market value calculations. Users are also guided on managing report profiles within the CCH Accounts Formatter.
Using funds
The document outlines the functionalities of Trust Accounts, detailing how funds are created and managed for different beneficiaries. It emphasizes the importance of fund consolidation and separation for accounting and CGT (capital gains tax) purposes. Various methods to keep beneficiary records distinct are described, including using nominal accounts, divisions, or establishing separate clients for each beneficiary. It also provides instructions for creating new funds within the CCH Trust Accounts system, including setting fund types, descriptions, and options for CGT treatment. Overall, it serves as a guide for effectively managing investments in Trust Accounts.
The Nominal and Investment Ledgers
This document outlines the structure and functionality of the nominal and investment ledgers in CCH Trust Accounts. The nominal ledger aggregates financial data through various accounts for assets, liabilities, and income, while enabling year-end processing. The investment ledger details client portfolios, including accounts for securities and properties, with distinctions in coding and market valuation capabilities. Additionally, it highlights the integration between both ledgers, where entries like dividends appear in both, streamlining data entry processes. The document emphasizes the operational mechanics and terminological differences crucial for effective account management.
The Nominal Ledger report
This document outlines the steps to generate a Nominal Ledger report, including accessing it via the Client Menu and selecting report profiles. It details the options available on the Main Options tab for date selection, report format, and specific nominal code choices. It also describes settings on the Extra Columns tab for including running balances, sequence numbers, and contra accounts. Finally, it instructs users to click on “Report” to view or print the completed report.
Sub-accounts
CCH Trust Accounts offers sub-accounts within the nominal ledger, similar to investment funds. Sub-accounts, denoted with a '/' in the account code, cannot be posted to directly once created, and their balances represent the sum of all transactions within them. Users can add or modify sub-accounts without them existing in the Master Chart, although changes in the Master Chart affect all clients. Deleting sub-accounts is restricted if they hold transactions, except when they are the only sub-account. Sub-accounts can be utilized for beneficiaries, with options to add multiple quickly. The Trial Balance can display these sub-accounts in detailed reports.
Setting up the client's investment portfolio
This document provides a detailed guide on setting up a client’s investment portfolio within an investment ledger. It outlines essential steps for adding securities, including how to view, edit, and delete investments, and the importance of pre-selecting securities for efficiency. The document further explains the fields involved in adding a new investment, such as fund selection, account classifications, and various options for dividends and interest. It also highlights additional functionalities like categorizing investments and managing business assets.
Move investments
This document describes the process for moving investments between funds using a two-page tab dialog box. It details the "Investments" tab, which displays all securities with corresponding fund numbers, and instructions for selecting individual or multiple securities. If logged into a specific fund, only relevant securities will be shown. The second part discusses the "New Fund" tab, where users can choose the destination fund for the selected securities before confirming the move. Selection options include single entries, multiple individual entries, or ranges.
Investment Accounts
This document outlines the functionality of a window for managing investment accounts, allowing users to create, amend, or delete accounts. Key features include sorting options, date selection for viewing investment values, and the ability to show various types of investments. Users can display long security names, include zero holdings, and access new options to add or delete accounts. Additionally, features like Grid Edit, Find, and Copy from other clients are explained, along with the ability to override security prices at the client level.
Investment Ledger
This document outlines functionalities related to the CCH Trust Accounts investment ledger, focusing on key activities. It includes links to sections on autoposting at the client level, management of funds, and moving investments. It also mentions investment accounts, although valuation can be accessed separately through the client menu. Overall, it serves as a guide for understanding and managing investment activities within the CCH Trust Accounts system.
Generating a Nominal Ledger report
The Nominal Ledger Report summarizes transactions posted to nominal accounts within specified dates. Users can generate the report via three methods: the Reports menu, the Client menu’s Nominal Ledger tab, or a toolbar shortcut. The report customization includes selecting dates, keeping a portrait orientation, and choosing specific nominal codes. Additionally, options for extra columns provide details like running balance, sequence numbers, and contra accounts. Reports are previewed prior to printing, ensuring users can review them before finalizing.
Funds
The document discusses the classification of investments in a client’s investment ledger into funds, usually linked to different beneficiaries. It describes the aggregation of holdings for capital gains tax (CGT) and the option to set up separate accounts for each beneficiary. It also mentions the use of funds to track tax-exempt accounts like ISAs. Users can log into a fund for focused investment data entry and reporting. The document provides a step-by-step guide for generating investment reports sorted by fund.
Editing entries
The document provides instructions on how to edit entries in the Nominal Ledger tab by double-clicking on "Edit Entries." It includes a visual aid and outlines available options for managing entries, including Edit, Delete, Find, Print, and viewing Prior Years.
Editing nominal accounts
This document provides a guide on how to edit Nominal Accounts within a client’s Chart of Accounts in CCH Trust Accounts. Users can modify the Short and Long descriptions to customize reporting formats. The steps include selecting the nominal account to edit, making necessary changes to descriptions, and being cautious with the close-off account, which affects year-end balance transfers. The process concludes by clicking "OK" to save changes.
Default accounts in Nominal Client details screen
This document outlines how to set up default nominal account codes for Rounding, the Logged-in account, and the Profit account within a client menu interface. Users can access these settings by selecting the Account button or by choosing Nominal Account Details and clicking on the Nominals button. It includes visual aids and provides descriptions of the functions of each nominal account: Rounding for handling differences, Logged-in for the default account code, and Profit for posting profits and losses.
Creating nominal accounts
This document provides a step-by-step guide on creating and managing Nominal Accounts within a Client Chart of Accounts. It outlines the process for importing nominal codes from a master or another client's chart, stressing the importance of consistency in account details. Additionally, it explains how to add new nominal accounts to the master chart, with specific focus on proper coding sequences for various financial categories. Key integration points include setting up account descriptions and managing close-off accounts for trust accounts.
Autopost (Client level)
The document details the Autopost routine for updating share transactions in a securities database. It instructs users to ensure the database is current and to run the Autopost function within a client's record. The procedure involves setting posting dates, confirming journal types, and selecting securities for automatic posting of income and capital items. Progress is displayed through pop-up windows, culminating in a summary of events in the security database for the chosen period, allowing for final adjustments before posting.
Adding investments to the portfolio
This document provides a step-by-step guide on how to add investments to an investment portfolio using the Investment Ledger tab from the Client Menu. It details the process of accessing investment accounts, utilizing the Add/Edit Investments screen to enter fund references, and selecting appropriate securities from a master database. Users are instructed on how to navigate the interface, add securities, and view completed investments, with an emphasis on managing multiple funds. Each step includes visual aids for clarity.