Topic results Year End

CCH Trust Accounts
Adopt FRS102
This document outlines the process for performing year-end procedures and adopting FRS102 for clients classified as Ltd Companies or Charities. It details the functionalities available in the Options tab, including changing format types, mapping nominal accounts, and deleting local accounts pages. Key steps include ensuring all nominal accounts are mapped before conversion and specific naming conventions for mapping files. It also highlights the need for editing the mapping file for Charities and advises saving local account pages separately, if necessary, for future use.
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CCH Fixed Asset Register
Year End (FAR)
The document outlines the procedure for performing a year-end in the CCH Fixed Asset Register (FAR). No special process is required, but the system prevents progression if the nominal ledger does not reconcile with the FAR or if an asset movement has occurred since the last depreciation posting. The system provides warnings at year-end but not at other times, such as when printing accounts. Users are advised to finalize accounts in CCH to prevent earlier period reconciling issues.
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CCH Fixed Asset Register
When the accounts are rolled forward, does the FAR get locked down so that the figures do not change?
The document discusses the functionality of the Fixed Asset Register (FAR) in CCH Accounts Production when rolling forward accounts. It highlights that previous year's FAR is not locked unless the "Finalise Accounts" option is selected. If not finalized, prior year entries can still be made, impacting opening costs and depreciation for the next year, but not updating the nominal ledger. Additionally, it notes a warning appears when making entries in the current year that affect earlier periods.
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CCH Trust Accounts
Cleardown
The document outlines the functions and options of the "Clear Down" feature, which allows users to delete old financial entries and redundant investments. Key functions include deleting entries before the current financial year, removing redundant investment accounts, and managing various types of transactions such as nominal entries and investment income. Users can specify deletion dates and choose which entry types to delete while ensuring no recent entries are affected. A final confirmation step is included to proceed with the deletion process.
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CCH Trust Accounts
Year End Rollback
The document outlines the process and implications of the "Year-end Roll Back" feature in the client Nominal Ledger menu. This function allows users to reopen the previous financial year for modifications without requiring complicated prior year adjustments. Key operations include deleting the current year's Opening Balance entry and recalibrating current year balances from comparative data. Users are cautioned that modifications to investment entries post-roll back can impact current year balances. While effective for avoiding adjustments, it may not suit cases requiring regeneration of last year’s accounts due to potential changes. Keeping a PDF copy of accounts for reference is recommended.
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CCH Trust Accounts
Year End
This document outlines the procedures and considerations for running a year-end routine in financial software. It emphasizes the importance of backing up data and potentially using password protection. Key functions of the year-end process include closing and carrying forward balances in the Nominal Ledger, setting close-off accounts, and posting new opening balances. It describes the options available when initiating the year-end and the implications of each choice. Finally, it notes that once the year-end process is complete, final accounts cannot be easily regenerated, underscoring the need for careful preparation before execution.
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CCH Trust Accounts
Year end roll back
The document explains the process and implications of the "Year End Roll Back" feature, which allows for modifications to prior year data without needing complicated adjustments. Key operations include deleting the current year's Opening Balance, adjusting comparative and precomparative balances, and rolling back year-end dates. It highlights that while this feature is beneficial for avoiding prior year adjustments, it may not regenerate last year's accounts accurately if there have been updates to account pages or Statutory Database information. Recommendations include keeping a PDF copy of accounts for reference.
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CCH Trust Accounts
Year End and Clear Down
The document provides an overview of the Year End and Clear Down process, detailing its use in completing year-end tasks and initiating new year's work. It encompasses various components, including the Options tab, Clear Down tab, Change Client Class tab, and adopting FRS102 standards, all crucial for effective account management in the CCH Trust Accounts system.
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CCH Trust Accounts
Why do I receive the message "Account xxx closes off to account yyy which itself has a closeoff"?
The document addresses an error encountered during Year End processing, where a message indicates that an account closes off to another account that has a closeoff, preventing progress. This issue typically arises when a profit and loss range is set on the client class, linking profit accounts to the Retained Profit account. The recommended solutions are to disable the profit and loss range on the client class or to reclassify the profit account into the balance sheet range, which can be done individually for each client or by updating the nominal account code in the master chart for widespread effect.
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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.
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CCH Trust Accounts
Options tab
This document outlines the functionalities available in the Year End and Clear Down screen, detailing various options. Users can execute a year end and adopt FRS102 for specific client types, perform a standard year end, or opt for no year end to focus on clear down and client class changes. Additionally, it provides information on setting a new financial year end date, clearing old entries, and changing client classification. Each option is accompanied by links for further guidance.
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CCH Trust Accounts
Clear Down tab
The document outlines the "Perform Clear Down" feature in trust account management, detailing options for deleting old entries and investment accounts. Key functionalities include deleting redundant investment accounts, specifying a date to delete entries, and options for removing nominal and investment income entries. It emphasizes that deletion pertains only to entries before the current financial year and provides flexibility in retaining different transaction types over different periods. The document also mentions a "Last Deleted To" date for tracking deleted transactions. Overall, it's a guide on managing historical financial data efficiently.
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CCH Trust Accounts
Changing the client class at the year end
This document outlines two methods for changing a client's chart of accounts. The first method allows a global change for all clients in a client class using the Master Chart, without affecting account formatting. The second method enables a client-specific change by moving a client to a different class with a required mapping file. Both methods maintain the integrity of the accounts formatting data and the Format Type. Specific instructions for implementing these changes, including options and required actions, are also included.
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CCH Trust Accounts
Change Client Class tab
The document outlines the process for changing the client class in a financial software system. It details how users can either globally or individually change client classes to align with a new chart of accounts. The key steps include specifying a new class, and using a CSV mapping file for nominal accounts. The document emphasizes the importance of preserving leading zeroes in account codes while editing the map file. Additionally, it notes that changing client class does not alter the format type or statutory database data, advising users of subsequent necessary actions.
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