Creating a Profit & Loss using CCH Accounts Production

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Overview

This section explains how to create a Profit & Loss within a period of account in CCH Corporation Tax using the information within CCH Accounts Production.

Updating and creating a Profit & Loss using CCH Accounts Production 

It is simple and straightforward to create and update the detailed profit and loss information in CCH Corporation Tax using CCH Accounts Production.

The information from CCH Accounts Production can be either updated manually by selecting the Update from Accounts hyperlink from the Profit & Loss actions panel in the left hand task bar or automatically update the Profit & Loss by setting up the appropriate client tax links.

Please see the Linking products section on how to set up the automatic update of information.

To see the Profit & Loss in Corporation Tax:

Automatic link set up - simply open the period of account and the system will automatically insert the Profit & Loss account if not already present and show the information from CCH Accounts Production.

Manual link set up

  1. Select Insert P&L from the Profit & Loss Actions panel in the left hand task bar.
  2. Select Update from Accounts hyperlink from the Actions panel in the left hand task bar.

The detailed information from CCH Accounts Production will appear:

P&L.jpg

  1. The categories displayed represent the categories within the chart of accounts used in CCH Accounts Production.
  2. Tick the Suppress box to exclude the row and any underlying analysis from the printed computation.
  3. Items displayed in blue are hyperlinks to the underlying analysis for the the category shown. Click on  the category heading to access the underlying analysis.

PLAnalysis.jpg

  1. Tick the Suppress box to exclude the analysis shown here from the computation.
  2. Any unanalysed difference between the total per accounts seen on the main Profit & Loss window and the total analysed in this window  will be shown at the foot of the analysis window.
  3. To make the adjustments for tax purposes please see the section on How to create links to other areas in Corporation Tax

 

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