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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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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.
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CCH Trust Accounts
2019.1 - User note field
The document describes the addition of a multiline text field called "User note" in the Edit Security section, specifically under the Attributes tab. This field allows for brief notes regarding manual amendments, with a maximum length of 120 characters. An example note provided is “Non-reporting fund. Checked AB 01/01/2019.”
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