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CCH Software User Documentation

Why isn't the Profit on Exchange showing?

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Multicurrency Clients Only.

After selling a holding there may still be some cost remaining on the investment schedule. This is usually because the tick box "Calculate Inv Profit on Exch" has not been ticked. If the option is not ticked then when a sale occurs the system automatically calculates the profit on disposal (due to the share price movement) but not the profit on exchange (due to the exchange rate movement). This means that the profit on exchange is left sitting on the investment capital account instead of being taken to the profit and loss account.

The simple solution is to select Activities > Common Shared Data > Client Classes, select the client class and tick the Calculate Inv Profit on Exch option. On all sales the system will automatically calculate both the profit on disposal and the profit on exchange. However there are two caveats.

  1. The calculation of the Profit on Exchange is not only done for all future sales but for all existing sales as well. So when the option is ticked the system enters a long procedure recalculating the profit on all disposals made on all clients within the client class. It is therefore important to take a backup of the data before ticking the option in case any error occurs during this process. If an error does occur you will need to go to the backup.
  2. The second caveat is that some users may have seen this cost on the investment schedule and have written it off manually. If this has happened then when the system calculates the Profit on Exchange automatically the write down will be duplicated and the user is left with the job of going back and deleting all his manual cost writedowns. Sometimes the cost write downs will have just been done in the nominal ledger without correcting the individual investment accounts. In this case removing the manual cost writedowns is much less work.

In general the best policy is to copy the data on to a standalone system and try ticking "Calculate Inv Profit on Exch".


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