Background
Troika now supports the ability to run multiple charts of accounts, with varying code lengths, if desired.
Troika's standard nominal coding structure is five-digits in length, and our in-built MSAccess standard accounting templates use these five-digit nominals.
It is possible some of our historical users may be on old six-digit nominal coding structure but wish to use these in-built accounting templates going forward. For example, because these are the only accounting templates compatible with environments utilising 64-bit MSOffice installations. To do this, users will be required to migrate their clients from the six-digit nominals, to the five-digit nominals, and these instructions should assist with that process.
Alternatively, if clients wish instead to commission a migration, please contact our team for assistance and a quotation.
Importing the New Chart
First, you will be required to import our standard five-digit nominal chart of accounts and set up a new code set, using the following instructions:
Importing a new Chart of Accounts, and Creating Code Sets
Preparing Legacy Clients
Users should prepare any client they wish to transfer to the new chart by completing posting to the end of any period of your choice. Once done, run the period end, and print off a trial balance.
This is the source document to help posting to the new structure.
Once done, it is helpful to rename the client with an X in front of the File Name to identify it as expired, and mark is as Closed from the Client Details - Edit menu option in Wealth Management.
Marking the client as closed will remove the legacy client from the list of clients and will minimise the possibility of picking the wrong client for posting going forward.
Checking your Defaults
To set the new five-digit nominal Chart of Account as the new default going forward, access Wealth Management, the Nominal tab, Charts of Accounts. Use the edit button next to the new chart and check the 'Default' radio button.
Adding the New Clients
When adding the new client, ensure the new chart is selected:
Continue populating the new client record with the required information through the windows offered, and Finish to complete.
Mapping Nominal Codes
Once the new client is loaded, use the Trial Balance menu option and export the All Nominals Trial Balance. This provides a list of the nominals in the new chart. Review the client's nominals from the legacy client source document, and map each nominal to a new nominal. Once done, proceed with loading the opening position.
There are a variety of journals available in Troika. In this instance, we would suggest using the Trial Balance Journals - Add menu option in Wealth Management, Client tab, as they provide a running total of the posting:
In the event of any further queries on moving clients over to a new five-digit nominal structure, please contact the support team here.