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Calculate Opening Balances

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Overview

The system will extract closing balances from one period into the next, automatically when a new period, for an existing portfolio, is first opened.

New Period Opening Balance

For example, assume you have processed a portfolio for the period April 6 2009 to April 5 2010 within CGT and Dividend Scheduling. When you first open the period April 6 2010 to April 5 2011 the system will convert the Balances Carried Forward as at April 5 2010 into Balances Brought Forward as at April 6 2010.

These balances will then be available on the Balances B/F screen for inspection and editing should the need arise.

In the great majority of cases when an acquisition is made within one Tax Year it will appear in the following year as a Balance transaction.

For example, an acquisition in June 2009 will appear as a Purchase transaction in the Tax Year it was acquired but in 2010/11 it will appear as a Balance B/F transaction.

However in some situations, normally towards the end of a Tax Year, a transaction will be carried into the later year as a Sundry transaction.

For example, an ex dividend acquisition made in March 2009 will appear as a Purchase transaction in the Tax Year it was acquired but will appear as a Sundry transaction in the 2009/10 Tax Year although retaining the narrative of Purchase.

 

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CCH CGT & Dividend Scheduling

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