What are 'clients' in CCH Trust Accounts?
CCH Trust Accounts produces accounts for 'clients'. A client in Trust Accounts usually corresponds to your concept of a client. For CCH Trust Accounts it is normally the trust; for estate accounts, the estate; for Charity accounts the charity and so on. However, there are exceptions to this approach. For instance, if each beneficiary receives a set of accounts showing their assets, liabilities and details of their income, it is usually easier to set the beneficiary up as a client in their own right.
For high net worth individuals it is often not necessary to produce a set of accounts. In this case the individual would also be set up as a client. This type of client would be set up to have an investment ledger but no nominal ledger.
Removing the option for a nominal ledger speeds up Data Entry as no nominal account codes are required. If the link to CCH Personal Tax is being used, a client in CCH Trust Accounts usually corresponds to a client in CCH Personal Tax. However if a separate set of accounts is being produced for each beneficiary then the CCH Personal Tax client corresponds to the SA900 form (i.e. to the trust), while the Trust Accounts client corresponds to the beneficiary. When CCH Personal Tax is linked to CCH Trust Accounts, multiple accounts clients can update a single CCH Personal Tax client.