Using CCH Trust Accounts
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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.
CCH Trust 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.
CCH 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.
CCH Trust Accounts
Reducing Data Entry
The document outlines various tools provided by Trust Accounts to reduce manual data entry, which is often time-consuming in accounting and tax return processes. Key features include the Autopost function for automating dividend calculations, the Global Autopost for handling bulk dividends, and the Complex Capital Transactions Wizard (CCT Wizard) for managing complex corporate events. Additionally, the Transactions Import feature allows for electronic import of various transactions, minimizing errors and saving time. Lastly, a standing data import capability enhances efficiency by enabling bulk uploads of client and security data.
CCH Trust Accounts
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.
CCH Trust Accounts
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.
CCH Trust Accounts
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.
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.
CCH Trust Accounts
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.