Actionstep offers a number of ways that you can handle your bookkeeping. In this article, we will discuss the methods that are available, what each means and any considerations you need to make.
Integrate, Use Actionstep or handle your Accounts Manually
When setting up a system for the first time you will be presented with different option depending on which Actionstep plan you have.
For Actionstep Express and Actionstep Practice Pro you will be given the options:
- Integrate with QuickBooks Online
- Integrate with Xero
- Use Billing and Trust Accounting only (no accounting)
For Actionstep Practice Pro + Accounting, you will be given the options:
- Integrate with QuickBooks Online
- Integrate with Xero
- Use Actionstep's Accounting
This gives you four options which we will summarise below.
NOTE Actionstep Practice Pro + Accounting is the only plan in which you can use Actionstep Accounting. It also comes with other configuration options for the integration with QuickBooks Online and Xero that are not available on our other plans.
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WARNING
It is important to note that once you choose an accounting option with Actionstep, it is not possible to choose another Accounting system unless you are on our Practice Pro + Accounting plan. Even then, the General Ledger will be strongly shaped by your original choice.
Integrate with QuickBooks Online
QuickBooks is the leading small business accounting solution in the US and is available for all Actionstep users. Like the Xero integration, by integrating your Actionstep with QuickBooks Online, Actionstep will ensure that any billing or trust accounting transaction that you post in Actionstep, will be posted to your QuickBooks Online account. The integration will mean that any transaction done in Actionstep is pushed to QuickBooks Online but it does not mean that any transaction done in QuickBooks will update your records in Actionstep.
Integrate with Xero
Xero is the fastest growing online accounting software company in the world and offers a seamless online experience designed to make accounting understandable. Like the QuickBooks Online integration by integrating your Actionstep with QuickBooks Online, Actionstep will ensure that any bill, credit note, bill payment or trust accounting transaction that you post in Actionstep, will be posted to your Xero account. The integration will mean that any transaction done in Actionstep is pushed to Xero but it does not mean that any transaction done in Xero will update your records in Actionstep.
NOTE Do not link your Actionstep system with a Xero trial. There will be unavoidable issues with moving to a live Xero system once you are linked to any other. |
Actionstep Accounting
Actionstep offers its own General Ledger based accounting solution. Benefits of using Actionstep accounting include divisional accounting, multi-currency accounting, General retainers and Accounting reports based on matters and participants in your system.
Billing and Trust Accounting Only (no accounting)
This option is for any user who does not want to use an Actionstep integration partner or Actionstep for their accounting. It is for users who want to use another accounting system or want to do their accounting manually. Users are still able to process their billing and trust accounting in Actionstep but will have to manually re-enter information to account for items financially.
Understanding Accounting Options with Express and Practice Pro
In Express and Practice Pro you will only be able to create transactions that are related to Billing your clients and your trust accounting.
When items are marked with a 'No' in the table below, it could mean that you cannot create that item in Actionstep at all or it might mean that creating it in Actionstep does not record the transaction on your general ledger. See the explanation contained within each box.
QuickBooks Online (QBO) Integration
| Xero Integration
| Actionstep Accounting
| Billing and Trust Accounting Only(No Accounting) | |
Client Billing | ||||
Posting a client bill to your accounting | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Paying a client bill | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Creating a credit note | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Applying a credit note to an invoice | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Refunding an outstanding credit note back to the client | No Not available with a QBO integration | No Not available with a Xero integration | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
General RetainersRegionally specific | No Not available with a QBO integration | No Not available with a Xero integration | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Trust Accounting | ||||
Receipts, Payments, Journals and Transfers | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Interest | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Invoice Payments | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Statutory DepositsRegionally specific | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Advanced funds transactionsRegionally specific | Yes Processed in Actionstep, posted to QBO | Yes Processed in Actionstep, posted to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Trust Bank Reconciliations | No Bank reconciliations for trust accounts should be completed in Actionstep and are not pushed to QBO | No Bank reconciliations for trust accounts should be completed in Actionstep and are not pushed to Xero | Actionstep Accounting is not available with this plan | Yes Processed in Actionstep but not posted to any General Ledger |
Understanding Accounting Options with Practice Pro + Accounting
Unlike Express and Practice Pro, you have a lot more options for what you can do with accounting in Practice Pro + Accounting.
When items are marked with a 'No' in the table below, it could mean that you cannot create that item in Actionstep at all or it might mean that creating it in Actionstep does not record the transaction on your general ledger. See the explanation contained within each box.
QuickBooks Online (QBO) Integration
| Xero Integration
| Actionstep Accounting
| Billing and Trust Accounting Only(No Accounting) | |
Client Billing | ||||
Posting a client bill to your accounting | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Paying a client bill | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Creating a credit note | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Applying a credit note to an invoice | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Refunding an outstanding credit note back to the client | No Not available with a QBO integration | No Not available with a Xero integration | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Refund an overpayment from a client | No Not available with a QBO integration | No Not available with a Xero integration | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
General RetainersRegionally specific | No Not available with a QBO integration | No Not available with a Xero integration | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Trust Accounting | ||||
Trust Receipts, Payments, Journals and Transfers | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Interest | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Invoice Payments | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Statutory DepositsRegionally specific | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Advanced funds transactionsRegionally specific | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Trust Bank Reconciliations | Yes Bank reconciliations for trust accounts should be completed in Actionstep and are NOT pushed to QBO | Yes Bank reconciliations for trust accounts should be completed in Actionstep and are NOT pushed to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Vendor / Supplier transactions | ||||
Posting a vendor / supplier invoice to your accounting | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Paying a vendor / supplier invoice | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Creating a vendor / supplier credit invoice | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Applying a vendor / supplier credit invoice to a vendor / supplier invoice | Yes Processed in Actionstep, optional to post billing transactions to QBO | Yes Processed in Actionstep, optional to post billing transactions to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Purchase Orders | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Purchase Credit Orders | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Pre-entered vendor | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Banking Transactions | ||||
A bank depositWhen not linked to a client payment | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
A bank withdrawalWhen not linked to a vendor payment | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Bank to bank transfer | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Electronic Batching of paymentsRegional specific | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Bank reconciliations | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Printed Checks | No These can be created in Actionstep, the transaction will post to QBO (depending on if it is for a vendor invoice or a banking withdrawal - see above) but the Check will be printed in Actionstep | No These can be created in Actionstep, the transaction will post to Xerodepending if it is for a vendor invoice or a banking withdrawal (see above) but the Check will be printed in Actionstep | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Deposit Slips | No These can be created in Actionstep, the transaction in the deposit slip will post to QBO (depending on if it is for a vendor invoice or a banking withdrawal - see above) but the Check will be printed in Actionstep | No These can be created in Actionstep, the transaction in the deposit slip will post to Xero (depending on if it is for a vendor invoice or a banking withdrawal - see above) but the Check will be printed in Actionstep | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Bank feedsWhere transactions entered into your bank account is feed into your accounting to create or reconcile the transactions | Partial While the bank feed will work in QBO, any transaction created through the Bank feed will not be processed in Actionstep | Partial While the bank feed will work in Xero, any transaction created through the Bank feed will not be processed in Actionstep | No | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Other Accounting functions | ||||
General Journals | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xero | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Sales Tax Returns | No These can be created in Actionstep but will not be posted to QBO | No These can be created in Actionstep but will not be posted to Xer | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
DivisionsDivisions allow you to have multiple orgnaisations operating from one instance of Actionstep | No Actionstep's division's function is not designed to work with a QBO integration | No Actionstep's division's function is not designed to work with a Xero integration | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Accounting reports based on Matter or Participant | No You will still be able to pull these reports in Actionstep, but the matter and participant types required will not be pushed through to QBO for you to run similar reports there | No You will still be able to pull these reports in Actionstep, but the matter and participant types required will not be pushed through to Xero for you to run similar reports there | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
Multi-Currency Accounting | Yes | No | Yes | Actionstep Billing and Trust Accounting Only (no Accounting) is not available with this plan |
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