**** NOTE that this advice is purely a "How To" for the recording of transactions in Actionstep and is by no means Accounting or Trust Accounting Advice.  Before any steps are taken we strongly recommend that you firstly contact your External Accountant/Bookeeper on their requirements.  We also recommend that you contact your Law Society to advise them of the upcoming migration and also to seek any specific needs/requirements they require to be undertaken.

Step 1  - Close Off Old system

fda * TIP - Before Reconciling have you considered any possible Trust to Office transfers to clear off debtors, clearing stale balances, 

  • Run a Trust Reconciliation
  • Print Trust Trial Balance as at date of migration to Actionstep
  • Detailed List of unpresented cheques 
  • Ensure that you have complied with anything the Law Society has requested of you at this point ie Trust Statement Printing.

Step 2 - Enter Matter Balances (Opening Balance) in Actionstep

  • Client Assigned

The matters you are receipting against must have a client assigned to them.  If no client has been assigned see Adding Parties to your matter. Those clients must also have an address attached to the their contact record (as required by Trust Rules)

  • Opening Matter Trust Ledger 

Before you can receipt trust monies onto a matter you need to have a Matter Trust Account open for that specific matter (Trust Ledger).  

Instructions on how to open a matter Trust Account can be found here Opening a Matter Trust Account.

fda*TIP - This account is purely matter only related (ie a Trust Ledger) for you to record the transactions in and the actual funds will be receipted/withdrawn against your normal Trust Bank Account.    

  • Recording the Opening Balances (Receipting)

This is simply done by a normal everyday Trust Receipt.

Instructions on how to receipt trust monies can be found here Trust Receipting.

This receipting process will need to be repeated for ALL matters that have a closing balance in your previous system, as listed on the Trust Trial Balance Report

fda*TIP - It is important that you try and receipt in an entire day for clean reconciliation (see step 5).    Actionstep does provide an import function to Import your Trust opening balances, however, WorkCloud strongly suggests that this is done manually due to the nature of Trust and its implications.  Once imported there is also no "reverse". 

Step 3 - Statutory Deposit (if applicable)

If you don't have any balance in Statutory Deposit, then you can skip this section otherwise, you now need to record the balance held in the Statutory Deposit Account.

Instructions on adjusting your Statutory Deposit balance can be found here Statutory Deposit Accounts

fda*TIP - Actionstep does not require a dedicated matter to handle Statutory Deposit.   Just follow the below instructions.

Step 4 - Enter Unpresented Cheques (if applicable)

If there were any unpresented cheques listed on your closing trust reconciliation above, these will need to be entered into Actionstep to allow for their reconciliation in the future when they hit your bank statement.

Firstly the funds need to be receipted (as per step 2 above), however, the description needs to be something like "Receipted for recording of unpresented cheque carried over". Again, check with your Law Society on the exact wording they require for your firm.

Once they have been receipted you now need to record the transaction/payment of the actual drawn cheques.  Instructions on recording payments can be found here Trust Payments.

Step 5 - Reconcile in Actionstep to the bank balance AS AT YOUR CARRIED OVER TO ACTIONSTEP DATE

It is important that you run a clean reconciliation now BEFORE you record any new trust transactions in Actionstep as this will then create your "Opening Balance" amount moving forward.  

Instructions on completing a reconciliation can be found here Completing Trust Reconciliation.

fda*TIP - Your Statement Date (ie date of reconciliation) should be the day that you have recorded all your opening balances.  Remember, you are only matching the transactions that reflect the receipts recorded to bring over the client matter opening balances AND any unpresented cheques as per your last reconcilation in your previous system.  (ie the closing balance of your last reconciliation should match the closing balance of this reconciliation).

 Step 6 - Commence recording everyday trust transactions

You can now commence recording your everyday trust transactions on a day to day basis in Actionstep.