Topic results Nominal Ledger

CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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CCH Trust Accounts
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.
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