Creating Trades
You can create various trade types in CCH Corporation Tax.
The software supports the creation of trades in long periods of account (POAs) with multiple accounting periods (APs), as well as in standard single accounting periods.
Creating a trade
You can create a trade when:
- One or two Accounting Periods (APs) are present in the Period Of Account (POA).
- Three APs are present, of which only two can be trading APs.
Trade cessation
When a trade ceases you must enter a date in the Trade Cessation column. The software will make various calculations based on this cessation date, which you will then need to review or amend.
Creating periods of account
If you create a Period Of Account which gives rise to 3 accounting periods, you will have to create a trade before progressing further with the Period Of Account set-up.
As it is not possible to have 3 trading accounting periods, your new trade must have the correct commencement or cessation dates to ensure there are only 2 trading accounting periods before the Period Of Account can be created.