Strict Trust Accounting can be applied to sets of books or account chart templates. To apply Strict Trust Accounting to a new set of books, select the appropriate option in the Open Books Wizard. If strict trust accounting is selected, the only account templates that will be displayed are those for which that option has been enabled.
To apply strict trust accounting procedures to a set of existing books, use the new Enable STA Wizard that has been introduced into the Books browser. The Enable STA Wizard uses standard Visual Jobstream procedures and its mode of operation will be familiar to users of the Accounting module.
Where strict trust accounting procedures have been enabled for a book, Forex Revaluation, Close Period and Posting Validation will automatically operate according to strict trust accounting procedures. Enabling strict trust accounting for a set of books is an irreversible process, and must therefore be used with care.
Strict Trust Accounting requires accounts and template items to be classified as either Income or Capital. The table below provides a guide to the appropriate account classifications. The Income or Capital status of accounts can be selected during account creation or via the Enable STA Wizard. This status is subsequently uneditable. The Income or Capital status of template items, however, is always editable from the Account Chart Templates browser.