Period Management
Creating, editing, deleting and accessing period data for multiple users in CCH Corporation Tax.
Last update: CCH Corporation Tax
Period Management
This document outlines key topics related to Period Management in tax software, including how to create, edit, and delete accounting periods, as well as managing access for multiple users. It also discusses the Tax Return Status feature, which tracks the status of a Tax Return throughout its compliance process. The information is aimed at helping users effectively manage their accounting periods and related data within the software.
CCH Corporation Tax
Editing Periods
The document details the process for editing Accounting Periods (APs) and Periods of Account (POAs) during tax return preparation prior to submission to HMRC. It highlights the ability to adjust dates while noting potential warnings related to mandatory data and possible data loss. It outlines specific steps for editing APs and POAs, including conditions for changes and restrictions related to trading periods. Users can navigate through the Tax Returns Tab and utilize the Edit links to make necessary adjustments while ensuring no more than two trading accounting periods exist at any time.
CCH Corporation Tax
Deleting Periods
The document explains the procedures for deleting accounting periods in a tax management system. Direct deletion is not possible; periods can only be edited or removed during the account deletion process. Users must close all open tax returns and follow specific steps to delete periods, including starting with the last period. A warning message ensures accidental deletions are avoided, and users need to confirm deletion, which results in permanent data loss. Additionally, periods attached to workflows cannot be deleted without exporting and re-importing the client.
CCH Corporation Tax
Creating New Periods
This document provides guidelines on creating Periods of Account (POAs) and Accounting Periods (APs) for Corporation Tax clients. It outlines the steps for establishing POAs from the Tax Returns tab, setting start and end dates, and adjusting durations as needed. If a POA exceeds 12 months, the software auto-generates two accounting periods. Additionally, it explains the process for rolling forward tax data and notes, as well as creating new POAs for existing clients. The document emphasizes essential editing options and conditions under which certain features may be restricted.
CCH Corporation Tax
Access to period data for multiple users
This document outlines the process for handling locked client records in accounting software, specifying that while a case is in use by another user, editing is restricted. Users can only view or print the Tax Return and check submission status. To unlock a case, users should navigate to the Maintenance section, select locked records, and delete the lock. It also includes a related link to Period Management for further guidance.
CCH Corporation Tax
Multiple accounting periods
The document outlines the procedure for creating CT600 submissions for multiple accounting periods within a single period of account. It emphasizes the need for separate submissions for each period, ensuring data validation errors are addressed and settings for accounts and computations are correct. Only the second accounting period should attach the required accounts and computations. It is crucial to correctly link the accounting periods to avoid deletion by HMRC due to submission delays exceeding one day.
CCH Corporation Tax
Creating a Trade - 3 Accounting Periods
This document outlines the procedure for creating a trade for a limited company within specific accounting periods. A trade can be established when there are one to three accounting periods in the period of account. Users are guided on accessing the client details, selecting the appropriate period, and utilizing the Data Navigator to add trading income. The process includes naming the trade, entering commencement and cessation dates, adjusting accounting periods, and selecting the trade type from a dropdown menu, which defaults to "UK trade."
CCH Corporation Tax
Creating a Trade - 1 or 2 Accounting Periods
The document outlines the steps to create a trade for a limited company client in contexts with one or two accounting periods or within three accounting periods (with only two trading). It details how to access the appropriate section in the client details page, enter trade specifics like name, start and cessation dates, and designate the primary trade for accounting adjustments. The default trade type is set to "UK trade" but can be modified as needed.