In order to process efficiently, the ability to create "Templates" for the reasons and save "Preferences" has been added to this version.
Additional system-wide preferences
For information on the additional system-wide preferences you can either watch the below video or see the text and images beneath the video.
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See updated article in actionstep Help Center: https:// |
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Override receipt payment holds
This gives the firm the ability to set "hold days" for payments. While some jurisdictions do have a baseline for this hold, we've included the ability for all firms to utilize this function. An example of usage may be that when a firm receives a personal check from a client, they may want to force a hold-time to ensure they don't spend funds before they are cleared. Each payment type can have a different hold period.
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For systems that have the payment method "Client deposit via bank", the hold that you set for Electronic funds transfer will be applied to those transactions as well. |
Deposit Slip settings
You have the ability to set if your system can have more than one deposit slip open at once. This is recommended only for our users who have more than one office.
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Most trust regulatory bodies do not allow for more than one deposit slip to be open at a time. Allowing this may not be a something that is compliant with your regulations. |
Default payment methods
Another feature to save time for the user. In our example we have changed the default payment method to Electronic funds transfer as this firm is unlikely to pay with or receive cheques.
The screenshot also includes the choice of how the firm's own invoice would be paid.
Default reason for payment
This is where to set the default narration when paying the firms own invoice from Trust funds.
Statement Settings
Your bulk statements will pull through all transactions done in your system since the last batch that you ran. The first batch that yu run then might have a number of years worth of transactions. You can adjust the Ignore entries before date to exclude any entries in your first batch run.
System Settings
The Trust Lockout Date gives you the ability to be able to lock out users from being able to enter in any trust transaction on or before the date entered.
Payment reason templates
The ability to set a range of "canned responses" to populate fields within the Trust Accounting area.
Add a reason, check the boxes for anything it will apply to (sort order defines the way the list displays "1" at the top)
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