How Trust Deposit Slips Work In Actionstep
Any time that you receipt in money into trust as either a check or cash it will be allocated to a Deposit Slip. Each trust account can have one Deposit Slip open per day (though you can have multiple slips open per day if you have more than one office, see Administrative functions below for more details).
Actionstep will only allow you to have open one Deposit Slip at a time and you can only add a new transaction to an existing deposit slip if that deposit slip is dated today. If you receipted funds yesterday and did not close off yesterday deposit slip you will receive a message stopping you from processing a check or cash receipt dated today. To get around this you will have to either close off yesterday's deposit slip (allow you to create a new one for today) or you will have to change the date on the existing deposit slip to today.
Actionstep will use the date of the deposit slip to update the deposit date of any transactions loaded against it. To give an example, if you received a cash deposit each day of the week all against the deposit slip (by altering the date of the deposit slip) and you bank the cash and the deposit slip on Friday, all the transactions, regardless of the day that you entered the transaction into the system (Monday, Tuesday, etc) will have Fridays date as that is the date you put those funds into your trust account.
Accessing your Deposit Slips
Deposit slips are found under Trust > Receipts > Deposit Slip List. This will list all the deposit slips that are in your system. You can click on any deposit slip to open it.
Understanding the Deposit Slip screen
Once you have opened a deposit slip it will display the list of all transactions that have gone into that deposit slip. If the deposit slip is still in draft format you can click the Save and Print button to close it and print it off. This will bring up a PDF of the deposit slip.
You can adjust the Date of a draft deposit slip by clicking on the blue link that is the date.
You can also click on the Branch or either of the Total Notes or Total Coins amounts to be able to enter in the branch that the deposit slip will be deposited into or to adjust the total notes and coins that will be banked.
If the details of transactions need to be altered you can click on the Edit Mode in the tool bar above the transactions. Any item that shows in bold (Originating Bank, Check Date, Check Number, Check Memo) can be clicked on and edited.
Administrative functions around Deposit Slips
Multiple Deposit Slips
You can enable multiple Deposit Slips for your database which will allow you but please be careful doing this. This is a function that we only introduce for firms that have more than one office or branch. Most trust regulations do not allow you to have more than one deposit slip open for a trust account at a time. See Additional Settings - Trust Accounting Administration for more details.
Deposit Slip Templates
If you do not wish to use the Actionstep Deposit Slip template that your system comes with you can create your own. See Bank Accounts - Trust Accounting Administration for more details.