These are the General Ledger ("GL") accounts that Actionstep uses to help it process trust transactions. Each trust account should be mapped to an account on your Accounts List. Your Actionstep system should come with accounts to map to each of these already. If they have been removed you will have to create new ones. See Accounts List for how to add new accounts to your Accounts List.
These accounts apply to all your trust accounts. If you have multiple trust bank accounts you will not need multiple system accounts.
This is the account that Actionstep will use to offset any trust transactions. Because Actionstep uses double entry accounting every debit and credit (deposit and payment) must be offset with another entry. Actionstep uses the Trust Liability Account for this.
Like the Trust Liability Account above, this account is used for the other side of some transactions. The Trust Transfers system account is used as the other side of the transaction for trust transactions that are between bank accounts or between matters.
This is a System Account for New Zealand jurisdiction users only. It helps with any transaction that uses the Firm's Interest in Trust.
Trust Statutory Deposits
For those systems which are required to deposit a proportion of their trust funds into a government statutory deposit account. Actionstep uses this system account to calculate how much funds are held in the statutory deposit account.
If you have more than one trust current account you may have to have more than one Statutory Deposit Account. Actionstep will still just need one system account to calculate the values for each of your accounts.
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