Overdraw

In order for a system to accurately reflect the transactions in a Client Trust Account, there may be times when the account went into Overdraw.

This could be as the result of an error or a reversal. Actionstep will allow a Trust Overdraw (only specific users will be able to process the transactions). This is supported by reports and Health Checks.

Firm's Interest in Trust

This is a Jurisdiction Specific concept - limited to Jurisdictions allowing it.

The Firm's Interest in Trust was known as "Trust Surplus" in the earlier versions of Actionstep Trust Accounting. It is the balance in the Trust Account which does not belong to clients. It can be used for Client Advances (where the client is short of funds to pay another party).

Often this is the result of paying the firm's own bills from Trust but not moving the money from the Trust Account. 

For more information how to process transactions relating to firm's interest in trust, please refer to this page

Trust receipts

Your system will come with a pre-loaded trust receipt though you can load up your own receipt template. Note that if you do change the template previously entered receipts will still use the same receipt template unless you regenerate it.

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