Users licensed for Pension accounts can produce accounts under the 2015 SORP and FRS102 through Trust Accounts using CCH Accounts Production as the accounts formatter. There is some information on the pension accounts in the main Trust Accounts Help. It describes the old VAP Master pages, but much of it is still relevant. A User Guide for the Pension accounts is attached below.
Updating the CCH Pension master chart to FRS102
Unlike other FRS102 accounts, the existing chart of accounts has largely been retained for CCH Pension accounts. However extra accounts have been added and some descriptions updated. To update the existing Pension chart of accounts to the FRS102 version:
- Make sure that you have a backup of your Trust Accounts database.
- In Trust Accounts select Activities > Common/shared data > Client classes.
- If client class “Pension schemes” appears it must be numbered as 005. If it appears as any other number, edit the client class and change its Code to 005.
- If client class “Pension schemes” does not appear, then client class 005 must not exist. If there is one, recode it to something else.
- Now select File > Import and Browse to S6Pen.imp in the Trust Accounts programs folder. This file contains client class 005 as the CCH Pension master chart.
- Select Duplicate records to be Updated.
- Click Import. You are asked to confirm that you wish to import the file.
- If client class 005 already exists you are given the warning “Client class 005 already on file. Are you ABSOLUTELY sure you wish to add the accounts in this import file to the client class?” If you are sure, click Yes.
- The accounts are imported.
Converting a client to FRS102
- To convert a VAP pension client to FRS102 accounts, in Nominal Client Details change the A/cs formatter to Accounts Prod. and save the changes.
- Select Accounts Formatting and you are taken through the usual upgrade to Accounts Production.
- If you receive the error “Entity Pension is not recognised”, check that you have the Configuration key AccountsShowPensionEntity set to 1 as described here.
- On conversion from VAP, the client is automatically converted to FRS102 Pension accounts because the conversion always converts to the highest published masterpack version. For Pension accounts, version 5 and above are FRS102.