This article is applicable to the Troika product only.
The following issues were addressed in this release of Troika version 2.08.024.
New Features
[Support No. 19374] Troika now populates the 64-8 with basic information from your trust. To access the new form, use the Forms button within Client Details - Edit in Troika Administrator. For more information on the form, and the information is populates, please refer here.
[Support No. 19487] The OPG105 form is now available to users, where the Jurisdiction for your client is set to England and Wales. Limited information is populated within this form currently. Please refer to support for further information.
[Support No. 19455] As a result of new legislation to adopt the OECD Common Reporting Standard (CRS) regulations and reporting to other jurisdictions, a series of new fields and a new Troika Administrator tab has been created to assist Troika users with the classification and reporting information. The existing ‘Disclosure/FATCA’ tab accessed from Troika Administrator / Client Details - Edit has been relabelled ‘AEOI – FATCA’. AEOI (Automatic Exchange of Information) A new tab accessed from Troika Administrator / Client Details - Edit is now available; ‘AEOI – CRS’. Please download the detailed user guide for AEOI and CRS data from here for further information.
[Support No. 19197] A new feature to extract a list of directors has been added to the system. Please contact Support for details of how to use the new feature which extracts data in the format of a spreadsheet provided by the FSC of the BVI.
[Support No. 20062] A new menu option called 'Default Address Lookups' found in Troika Utilities has been added to select the default address types for exporting AEOI - FATCA addresses. The system now allows an address type to be assigned to each entity type. Prior to this change the address type was fixed to the 'Private' address type.
[Support No. 14305] The ability to add an alternative broker rate for exchange rates has been added to the system. For details of how this new function operates, please contact support.
Fixes and Changes
[Support No. 20231] The Troika update option has been improved to make the function of 'updating' the locally installed programs more descriptive for new users. The process of updating the local programs has not changed itself. Click 'Update' instead of 'Copy Down' to update local programs.
[Support No. 20096] The option within the Billing screen in Troika Time has been limited to prevent WIP from being over allocated during the billing allocation process. A new system setting controls the ability to over-allocate and is disabled by default. It can be enabled via the system settings option in Troika Utilities using the setting 'over allocate'.
[Support No. 20263] A correction has been made to the edit transaction screen to prevent an error message that appeared if the record doesn't fully recalculate the records before the transaction is closed. The error message was intermittent but has now been fully prevented.
[Support No. 20084] A correction has been made to the FATCA account holder export to include non-reporting FI's (when selected) in the export by selected registers.
[Support No. 20079] A correction has been made to the display of available registers in the FATCA export to Excel of account holder data.
[Support No. 20350] A correction has been made to the Client Enquiry screen, to ensure that the WIP results are displaying correct when a Matter is being used to filter displayed results.
[Support No. 20139] A correction has been made to the display of the nominal details screen, accessed via the Trial Balance to ensure the FX Gain/Loss and FX balance are displayed correctly when the FX rule is set to closing. An intermittent problem prevented the balance from refreshing.
[Support No. 19329] An amendment has been made to ensure you can enter EITHER an individual's holders number, or a bond number, whichever you have available to you at point of data entry.
[Support No. 20277] The CGT computation now allows for the specific case of a sale of zero units where the proceeds are all treated as profit. This change will work retrospectively, if the user forces a CGT re-computation of the relevant ledger.
[Support No. 20408] The checkbox flag to mark each investment ledger as 'dividend paid gross' has been relabelled 'Income paid gross' The checkbox can also now be accessed from the ledger details screen in the bottom left hand corner. All ledgers can be set as 'All Income Paid Gross' from the Client Investment Ledger.
The following probate specific issues were addressed in this release of Troika, version 2.08.024.
New Features
[Support No. 20391] A change has been made so that any new estates added with a date of death after 05/04/2016 will post income gross of any tax, as opposed to the net amount received (as set by the type of investment) which the system then previously grossed up. For details of how to post foreign income received net of tax please contact support.
Fixes and Changes
[Support No. 20022] The Cash Estimate report has been amended to automatically deduct outstanding specific bequests.
[Support No. 20022] A change has been made to ensure the Cash Estimate report correctly reflects any assets which have been identified as subject to a specific bequest.
[Support No. 19972] Improvements have been made to the 405 subsection. Where appropriate, once a 405 transaction is entered the subsection will automatically jump to the next subsection allowing users to enter their case data more smoothly. If it is more appropriate to do so (as with the 405_8 subsection), it will remain on that subsection allowing further entries to be added. Once all 405_8 transactions are entered, the user may of course select their next subsection to continue their data entry.
[Support No. 19764] An amendment has been made to ensure 403 gift transactions do not appear in a case's administration period, in both Load Data, and the Load Data export option.
[Support No. 20022/20225] An enhancement has been made to provide warning when you attempt to transfer an asset which has a nil book value. This is to avoid situations whereby you effectively end up transferring the same asset twice, in error.
[Support No. 19808] There is now a new Investment Schedule available for probate "Investment Schedule for Probate Style 1" which gives details of who investments have been transferred to, along with a summary of the total each beneficiary has received.
[Support No. 19456/19651] An IHTC4 Corrective Account (and its continuation) have been added into IHT Forms for estate cases. This should record all additions and amendments made to date of death after IHT form submission.
[Support No. 20230] Within Beneficiaries, an asset can be linked to a beneficiary record. When transferring the asset (or part of it) within the administration period, and the asset is selected, the beneficiary field will default to the beneficiary who has been assigned the asset selected, removing the need to re-enter. Other beneficiaries continue to be available in the list, should they be required.
[Support No. 20256] The detail provided on gifts on the IHT205, under question 9.1, has been expanded to include the value of the gift, and any exemption. This is particularly useful where there is more than one gift to note here, so that you can easily ascertain how the total has been derived.
[Support No. 19463] The Probate Details report within Estate Details - Edit, Reports tab has been amended to provide a more informative summary document for your records. It records the key information you may want to see regarding your estate at a quick glance.
[Support No. 20399] An amendment has now been made to ensure that transactions (and their ledgers) for items included in the IHT form can not be deleted and/or amended after the IHT form has been submitted. Corrections to date of death transactions must be undertaken within Load Data, as either an Addition (new item, previously unreported) or an Amendment (an amendment in value to an existing item reported on the form).