How Trust Deposit Slips Work In Actionstep
Any time you receipt money into trust as either a check or cash, it will allocate to a Deposit Slip. Each trust account can have one Deposit Slip open per day (though you can have multiple slips open per day if you have more than one office, see Administrative functions below for more details).
Actionstep will only allow you to have open one Deposit Slip at a time, and you can only add a new transaction to an existing deposit slip if that deposit slip is dated today. If you receipted funds yesterday and did not close off yesterday's deposit slip, you will receive a message stopping you from processing a check or cash receipt dated today. To get around this, you will have to close off yesterday's deposit slip (allow you to create a new one for today) or, you will have to change the date on the existing deposit slip to today.
Actionstep will use the deposit slip date to update the deposit date of any transactions loaded against it. For example, say you receive a cash deposit each day of the week against the deposit slip (by altering the deposit slip date), and then you bank the cash and the deposit slip on Friday. All of the transactions, regardless of the day you've entered the transactions into the system (Monday, Tuesday, etc.), will have Friday's date as that is the date you put those funds into your trust account.
Accessing your Deposit Slips
Deposit slips are found under Trust > Receipts > Deposit Slip List. This will list all the deposit slips that are in your system. You can click on any deposit slip to open it.
Understanding the Deposit Slip screen
Once you have opened a deposit slip, it will display the list of all transactions that have gone into that deposit slip. If the deposit slip is still in a draft format, you can click the Save and Print button to close it and print it off. This process will bring up a PDF of the deposit slip.
You can adjust the date of a draft deposit slip by clicking on the blue link that is the date.
You can also click on Branch, Total Notes, or Total Coin amounts to be able to enter the branch that the deposit slip will be deposited into. Or to adjust the total notes and coins that will be banked.
If you need to alter the transaction details, you can click on the Edit Mode in the toolbar above the transactions. Any item that shows in bold (Originating Bank, Check Date, Check Number, Check Memo) can be clicked on and edited.
Administrative functions around Deposit Slips
Multiple Deposit Slips
You can enable multiple Deposit Slips for your database, but please be careful doing this. This is a function that we only introduce for firms that have more than one office or branch. Most trust regulations do not allow you to have more than one deposit slip open for a trust account at a time. See Additional Settings - Trust Accounting Administration for more details.
Deposit Slip Templates
If you do not wish to use the Actionstep Deposit Slip template that your system comes with, you can create your own. See Bank Accounts - Trust Accounting Administration for more details.