CCH Trust Accounts 2024.2 Release Notes

Autoposting of redemptions 

This release allows redemptions to be added to the Security History and then autoposted on any client that has a holding.

Notes

• "Redemption" is a new Type when adding events using History > New on a security. The user enters the Event date, the Ex date, the Currency of the redemption and the redemption Amount. The price is per  unit. So in most UK cases the amount will be £1.
• There is no restriction on which security types can have a Redemption record. But the most common cases will be for bonds or preference shares.
• Redemptions are Autoposted in the usual way. The user can override the quantity redeemed, the amount received and the foreign currency amount received if the client has multi-currency. Redemptions are posted on movement code RED.
• Data on Redemptions needs to be set up manually on the security history. It is not currently included in either the data feed from ICE or from SIX.

Data Feeds - Allow a Start date when switching from Telekurs to Exshare 

There are 2 data feeds of securities data available for use with Trust Accounts and SecTAX, the Exshare Data Feed from ICE and the Telekurs Feed from SIX. Sometimes users wish to switch from one data feed to the other. There is a complication in doing this. Both feeds contain details of events which have been announced but have not yet occurred. If a user starts running the new feed on say 01/01/2024, then there will already be events present from the old feed after this date and when the new feed is run it will duplicate them.

To avoid this problem, when the Telekurs feed was introduced, a Telekurs Start Date was added to Database Parameters. If the user knows in advance that they will be switching from the Exshare feed to the Telekurs feed on 01/01/2024 then that is entered as the Telekurs Start date. Now when the Exshare feed is run before 01/01/2024 the program will not read events or prices after 01/01/2024, leaving them to come from the Telekurs feed. Equally, when the Telekurs feed is run after 01/01/2024, and events prior to 01/01/2024 are not read, since they will have come from the Exshare feed. (This would also apply to prices if there were any old prices after 01/01/2024). 

The Telekurs Start Date helped a user switch from the Exshare feed to the Telekurs feed, but it did not work in reverse. This new change is to replace the Telekurs Start Date with 2 new settings in Database Parameters for Changing Data Feed:

• No change/To Exshare/To Telekurs. These radio buttons describe what change is being made.
• New feed start date. This field is available if Changing Data Feed to not set to No Change

Using these settings works in exactly the same way as the Telekurs Start Date, but enables a switch from Telekurs to Exshare as well as from Exshare to Telekurs.

Some other obsolete options have been removed from the Database Parameters at the same time.

Note that there is a release of the Telekurs software to go with this change.

Change to Download exchange rates 

The option to download exchange rates downloaded them directly from fx.sauder.ubc.ca, which is part of the web site for a Canadian business school. The business school has changed its access policies so that data can no longer be downloaded directly. It is necessary to open the site in a browser and copy the rates which are in CSV format.

This means that the Download option now opens the website and asks you to copy the contents into a new text file that you create on your computer. When the website is opened it is at the correct page with the required exchange rates displayed. On Chrome the user can save them to a text file using Control-S.

Trust Accounts then asks you to browse to the file and imports the contents.

If you have more than 10 currencies that you are converting from, you are asked to repeat the procedure for each set of 10 currencies.

ITS/66300 – Global Accounts Printing did not work if not licensed for VAP Formatter

If you are licensed for Accounts Production you now see just the option for Accounts Production enabled.

ITS/67693 – Out of String Space error in certain areas

This occurred:

• Printing the contents of an transaction import file.
• Running a multi-client CGT What-If report
• Performing a CGT What If (in this case the error was actually a Stack Overflow error)

Limitations on the formulae that can be used in a nominal range or a RangeDef

• A nominal range supports the ~ pattern-matching operator, e.g. =AP("(a,8101~8901)"), but you cannot drill down from the accounts to see the make-up of a balance given by such a formula.
• A nominal range does not support the ~M100 or ~S2 syntax to step through main accounts or subaccounts. It is also not supported in RangeDef commands.
• =AP("RangeDef,0020..005Z,,a,-1,0,ab”) is not supported. It needs to be written as =AP("RangeDef,0020,005Z,a,-1,0,ab”).
• The Nz command supports the same nominal formulae as a RangeDef.