This article explains concepts for migrating your trust accounting transactions from a previous legal management practice system into Actionstep.
This process works like this:
- Choose a date when you want to start recording trust activities within Actionstep.
- On this selected date, stop recording trust transactions in your previous system.
- Pull the figures for your trust account balances as at that date.
- Create these balances as trust receipts in Actionstep.
For regulation purposes, you will need to keep a record of trust records for a number of years. This process will allow you to have a full picture of trust history across the two systems. Auditors do not mind that you have records across two platforms, as long as there is a very clear history in both systems, and the closing/opening balances between the two systems match as at a certain date.
Related Articles:
- Correcting (Reversing) a Trust (or Client) Transaction
- Getting to Know the Trust (or Client) Account Settings Page (Admin)
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