Importing trusts from XPM, Workflowmax or Actionstep

Connectworks provide the ability to integration with other practice management systems.

Presently we integrate with Xero Practice Manager and Actionstep. You will need to enable the integration before you will be able to import trusts using this integration. See our article here to get set up: 

 

Contents

1. Importing a Trust from Actionstep

2. Import a trust from Xero Practice Manager

3. Updating a Trust After Import

 

Importing a Trust from Actionstep

After setting up the add-on, to import a trust from Actionstep:

1. Navigate to your firms Clients>Trusts tab

2. On the Right, click "I would like to ..."

3. Select "Import a trust from Actionstep"

Screen_Shot_2016-04-11_at_8_59_19_AM.png

 

Importing a trust from XPM / Workflowmax

1. Navigate to your firms Clients>Trusts tab.

2. On the Right, click "I would like to ..."

3. Select "Import a trust from Xero Practice Manager"

Screen_Shot_2016-07-29_at_2_54_43_PM.png

4. Type the name of the trust:

5. Click Import, the following dialogue box will appear:

6. Click OK, the Trust will appear in your trust list, and can be easily found using the filter "loading (subscribed)"

 

Updating a Trust After Import 

Once you have completed the import of the trust we recommend you follow these steps to review and tidy the data in Connectworks.

We’ll work through an example here which highlights the typical areas that need reviewing.

NOTE: Before you begin the process of updating the trust, ensure that you have all relevant trust deeds, variations and retirement and appointments of trustees relating to the trust.

Main Trust Dashboard

As XPM/Actionstep only hold a certain amount of trust specific information, only some fields in Connectworks are populated, there are lots of other details you can add.

Using the trust deed the following information can be updated. To update the Workspace page, click Edit trust profile in the top right of the trusts main dashboard. This is where you can complete details such as:

  • Type of trust
  • Vesting Date
  • Annual Review
  • Gifting Date 
  • Client reference / Matter number
  • Contact details
  • Terms of the trust
  • Bank details
  • GST / IRD number

Updating Associated Parties

If no appointment/resignation dates are specified for the trustees and beneficiaries, you will need to manually update these details.

During the XPM import process, you were required to enter the trust settlement date - this becomes the default appointment date for all trustees and beneficiaries. In most instances this is correct, but if there is a deed of appointment/removal then you will need to apply these changes manually.

Updating people 

In our example, we know from the Settlement date that the trust was set up on the 1st January 1998. Now we work through the Trust Workspace>Parties tab to update the correct dates.

1. Select the tick box first person in the trust's parties tab, a slide out panel will appear where you can review their assigned "Roles & Responsibilities". If the appointment date is correct move on to the next person in the list.

2. If the dates are incorrect select Edit via the "..." menu in the top corner of the slide out and navigate to the Roles and Associations section of the edit profile window.

3. Place a tick in "Remove as Beneficiary" and/or "Remove as Trustee".
Also select the tick box "Or, I made a mistake remove from history" in both options.

4. Click Update. 

Now the incorrect record has been removed, update the accurate appointment/retirement details: 

5. Still in the associated party slide out, apply the appropriate trustee/beneficiary roles. If the person you're adding/editing was appointed with a deed of appointment you will need to enter the correct date they commenced in the role.

6. Once you have finished updating the associated parties roles, and any other information you such as contact details, click Update & Close.

Corporate Trustee Company

With Corporate trustee Companies, there are several options to consider.

Historical corporate trustee companies - Simply select the appropriate dates for the company where it was a trustee in the trust as per the instructions above, no further action required. 

Active corporate trustee company - To ensure your records remain up to date and accurate we recommend you follow the steps outlined in the following articles to correctly link your Corporate Trustee Company to its associated trust/s. Complete these steps in the order listed below:

  1. Importing corporate trustee companies from the Companies Office
  2. Linking the Corporate Trustee Company to the trust.
  3. Deleting A Relationship With A Beneficiary Or Trustee to remove the unlinked corporate trustee company from the trust profile.