Standardising Nominal Codes

Last modified 08:23, 10 Jul 2016

This topic describes how to change the nominal chart for all clients to a new master chart of accounts. The approach is to change the nominal codes in the master chart from an 'Old Standard' to a 'New Standard' by going through the codes currently in use and changing them to the new codes.  There is no need to change nominal codes one by one at client level. The changes made at master chart level automatically update all client codes.  The whole process usually takes about a day with no other users able to use the system.

Options Used to Perform the Conversion

Several functions are used within Trust Accounts to move to the New Standard.

  • Editing the Account Code If an account code is edited in the master chart it is changed automatically for every client in the class that uses it. Also all references to the account code are automatically changed if, for instance, it has been used on entries or as a posting account on an investment account.
  • Deleting an Account from the Master Chart You cannot delete an account from the master chart if it exists on a client. Trying to do so displays a warning message which contains the name of the first client using that account. (To get a complete list of all clients with the account you would need to use Transaction Reporter).
  • Deleting an Account from the Master Chart and All Clients However if you want to delete an account from all clients, and if it has no balances or entries, then this can be done using the option Global Delete. Global Delete only deletes an account from a client if it is safe to do so.  To find Global Delete select Activities > Common/Shared Data > Client Classes, select the Old Standard chart, then Master Chart > Other > Global Delete.
  • Remapping and Deleting Accounts Sometimes it is desirable to simplify the master chart of accounts. For instance in the past multiple accounts might have been used for Dividends when only one account is now needed. To remove the unwanted dividend accounts even if they are still in use on some clients:
    • Select Global Delete as above.
    • Click on the Remap A/c References If In Use checkbox.
    • Select the unwanted dividend accounts for deletion (e.g. ‘Dividends 2’, ‘Dividends 3’).
    • For each account being deleted specify ‘Dividends 1’ as the replacement account.
    • Click Select clients to select all clients in the class and then click the Include Master Chart checkbox.
    • Click OK and the unwanted accounts are deleted. If they had entries or other references they are moved to Dividends 1. If they had balances they are also added to Dividends 1.
  • MultiCode Edit This option is used where a series of accounts need to be edited.  The user selects a range of accounts and the program takes the user into each code successively  to edit the code to the new code.  There is also an option that allows a block of accounts to be moved to a new range without the user needing to type in each new account number.  The Multicode Edit is  found on the same menu as the Global Delete.

The Conversion

  • Take a back-up of the Trust Accounts data
  • Print out the old chart.  Against each code write what is to happen to it i.e. a) Delete it (if not in use), b) Map it to a new code, c) Remap it to an existing code (where 2 codes are in use in the old chart and one in the new chart.  See below).
  • If any codes are required that don't exist in the new chart then make a note of them.  When choosing new codes, check that they are in the correct place for the accounts pages to work. 
  • Delete all unused codes from the old chart.  Use the Global Delete option and select to delete all codes. Only the codes that are not in use are deleted.
  • Re-map where 2 codes are in use in the old chart and one in the new chart by using the Global Delete option with the option to Remap codes selected.  At this stage all the codes are still those of the old chart.
  • Edit codes to new codes.  The Multicode edit can speed this up.  Where there is no new code, use the code noted down above.
  • There are 2 approaches that could be followed next.
    • Approach 1 - Completing the New Chart Manually This approach is used if no import file for the New Standard is available.
      • Manually create any further nominal that will be required. This completes the conversion.
    • Approach 2 – Importing the New Chart This approach is used if an import file for the New Standard is available and is quicker than Approach 1. Users usually need some assistance from CCH Software Support doing this.
      • Use Edit Client Class to change the client class number to match the client class number in the import file.
      • Import the New Standard import file.  This fills in any gaps where the new chart contains some codes that don't exist in the old chart. On importing, select Duplicate records to be Updated.  This changes the old account descriptions to the New Standard descriptions in the Master Chart.
      • Check out a few clients. This involves checking the trial balances and ideally includes producing the accounts if the accounts pages are available.
      • If OK then continue then this completes the conversion.

Notes

  • Clients With a few Non-standard Accounts It is quite common for clients to have a few non-standard nominal accounts which have been used for different purposes on different clients. In this case the user should perform a journal from the non-standard accounts to the standard accounts. This is a manual process.
  • Clients with a Totally Nonstandard Nominal Ledger Sometimes a client is found whose nominal ledger is completely non-standard.  One solution here is to use Edit Client > Ledgers and untick Nominal Ledger.  When OK is clicked, all the nominal ledger postings are deleted and the client is converted back to a “SecTAX client”, i.e. it only has an investment ledger containing the security history.  Once the old nominal ledger has been removed, go back into Edit Client and switch it back on again. Go into the client and enter the correct opening trial balance.

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