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CCH Software User Documentation

Multicurrency set-up and maintenance - quick reference

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Setting up Currency Codes

Importing the codes

Codes may be set up manually or by importing using: File > Import > S6XXXX.imp > Import – usually ignore duplicates, click Yes to import and then Close. Where XXXX is the relevant file name.

File Name Information

S6SECCOM.IMP

 

 

Country codes.  These two character ISO country codes are used for the country of Registration and Quotation when setting up Securities or when the securities are imported from the Exshare data feed.

 

Stock names. These indicate the denomination of the Security, e.g. Ordinary 25p shares.

 

Geographical areas.  These are used for sorting investment schedules.

 

Currency codes.  The more common three character ISO currency codes, e.g. USD for US dollars.  See S6CURR.IMP below.

 

Movement codes.  CCH's standard movement codes, e.g. SRG for Sale of Rights.

 

Various other codes used by the securities datafeed.

S6CURR.IMP

Currency codes.  A full list of the ISO currency codes.  Only the more common ones are in S6SECCOM.IMP.  Do not import unless needed.
   

To view codes imported: Activities > Common shared data > Currency codes

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Exchange rates tables

Selecting the currencies you wish to use in the exchange rate table

For each currency that you wish to use, within the list of currency codes [Activities > Common shared data > currency codes]
Click on the currency e.g. USD, tick the “In table” box so that it is included in the Exchange rates tables.

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Creating the Exchange rates table

Go to: Activities > Common shared data > Exchange Rates

To Add a column

Select Column from the right of the screen and then choose Add a new column, this will open the list of currency codes, select that required and it will be added to the table.  Repeat as necessary.

To Delete a column

Select Column from the right of the screen and then choose Delete XXX column, XXX being the currency code of the column selected.  Repeat as necessary.

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Click on the square to set an exchange rate e.g. on the row KRW and column EUR, click then select Edit from the right side of the screen.

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Consider the default rate, and if you want a daily rate entered/maintained.  The default rate will be entered at the foot of the table and the cross rates in the daily cells. 

To Download automated rates/cross rates

Select Download… from the right side of the screen, change the Download rates for column currency and Dates as required (one year maximum). This downloads rates for the tables that are marked as Set in column. 

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Click OK and wait, when displayed copy and paste the results into Notepad, save the file (ensure you remove the * from the file name). Close the file.

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Select currency and dates

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Pricing range in days

Consider the Pricing range in days, go to Activities > System Management > Database Parameters, change as required:

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Client Classes: adding currencies and nominals

Activities > Common shared data >Client Classes – using client class Trust 101 as an example below:

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Select the check box to calculate investment profit exchanges

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This is the automatic calculation based on the above check box ‘POX’ ‘Loss on exchange’

Review the currencies on the right side.

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Edit or create, you can use extra nominal accounts, and you will see this when posting.

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And Difference and Profit could be around 3030

Inter-currency, like suspense, could be a single account for all currencies or sub-accounts set for each currency, below shows the code and subcode 05 relates to HKD, this is easier to understand and for reporting.

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Setting up a new multicurrency client

Ledgers

When setting up a new client ensure ledgers are set as multi currency. 

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The Nominal ledger will always be multicurrency.

The Investment Ledger may be single currency or multicurrency.

Nominal client details

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The above shows the reporting output is in GBP (the base currency)

Additional settings when multicurrency switched on

Adding investments/posting details

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Here using the investment ledger data entry you can see USD is capital and Income, when buying shares pay in a different currency and convert to USD.

These are derived from the security. (Price and Dividend)

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When posting Investments to override this click on Currencies.

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To override this click on Currencies

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Do consider as once set cannot change afterwards. You have to add a new investment.

Adding investments

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The Exchange conversion is calculated in the next screen.

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Here we have not used the actual transition date but the next nearest price 31/3/2013. This may be changed.

Source transactions are converted to Book currency here GBP.

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Trial Balance - Investment account, currency bank and currency difference on exchange

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On running the trial balance, you will find the system shows automatically the Difference on exchange account. The profit above is in GBP £754.14, being an unrealised gain.

Client Nominal Account

Using the radio button ‘Multicurrency’, shows the translation basis, originally posted and closing rate (system generated) just a balance is shown. 7001 can have multi-currency postings but the USD accounts are only USD transactions.

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Nominal Ledger Report- Multicurrency tab

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The default report shows output in the home currency e.g. GBP. The Differences on exchange is system generated.

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If you wish to see source currencies transactions use the Extra columns tab and tick the check box Source amount.

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The report shows all currencies and which transactions gave differences on exchange.

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The setting will show a report with debits and credits and book value on the right side.

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This report includes USD transactions.

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This can be cross referenced to the balances in the trial balance

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Further data entry example – disposal

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Check the debits equal the credits and adjust for rounding.

The trial balance will show the following:

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With the cursor in the Add Bank Payments/Amount box, press F2.  The Investment Account balance has reduced. The realised gain is £555.55. the £163.40 is a loss while holding the shares and the applicable the exchange rate, this is system calculated realised gain. The difference account is unrealised gain.

A further data entry which is a bank transfer:

Changing the default currencies using bank payments

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Conversion not just from EUR to GBP but also USD to GBP, clicking on OK you will get an error that the book values do not agree £12,500 and £12,626.26.

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The figures can be amended. Here we have matched £12,500 lines and entered alternative exchange rates for EUR to USD and USD to GBP.

The system needs to treat each currency as a debit and credit line, EUR bank (DR) and EUR Inter-currency (CR), and so on, it has to balance.

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The Trial Balance now shows additionally the automatic data entry on Difference and Inter-currency.

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Investment Schedule - Multicurrency

Run the Multi-currency options

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Ticking profit on disposal and profit on exchange will give you a single profit on the report.

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Other currencies can be included in this tab to appear on the report, here USD.

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To sort by different currencies.

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