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How do I create accounts under the New Pension SORP 2015 for (FRS 102)?

Article ID
ias-12015
Article Name
How do I create accounts under the New Pension SORP 2015 for (FRS 102)?
Created Date
8th October 2015
Product
IRIS Accounts Production
Problem
How do I create accounts following the New Pension Statement of Recommended Practice (SORP) 2015 (FRS 102) guidelines?
Resolution
As part of the legislative update to the new Pension SORP 2015 we have taken the opportunity to update to a new enhanced chart of accounts for pensions which brings a wide variety of benefits. For existing pension clients, Users MUST carry out an enhanced chart conversion, in order to create an up to date set of Pension accounts by following the below steps: SELECT: Posting| Post File Maintenance| Chart Convert You will get a prompt asking whether this option is for multiple conversions or single, please click [MULTIPLE]. It will then ask ‘Client | Extract’ has NOT been performed on this client. Do you wish to continue conversion without an extract. Please note: in order to follow through the chart conversion, you MUST have an extract file of the client. (In order to take an extract, please select Client | Extract – this will be saved as a .bup file) Within the “Chart Conversion IRIS” screen – It will display all clients which are attached to the Old pension Chart, please tick the clients that you would like to convert. Select the Import Maps and the EPEN Enhanced Chart. For a detailed step by step guide, please refer to Help| Help| Quick Guides| Enhance Chart Conversion.

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