Once you have imported a trust from XPM we recommend you follow these steps to review and tidy the data in Connectworks.
As XPM only holds a certain amount of trust specific information, there are lots of other details you can add in Connectworks.Below we will explain the typical areas which need updating.
What you need
- The trust deed
- Variations to the deed
- Deeds of appointment/removal
- All historical trust documents (if building a complete record)
- All financial records (if building a complete financial ledger)
Update the main dashboard
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
See more information in out article How to Edit Trust Profiles
Update associated parties
For natural born persons see our articles:
For corporate trustee companies:With Corporate Trustee Companies, there are several options to consider.
- Importing corporate trustee companies from the Companies Office
- Linking the Corporate Trustee Company to the trust.
- Deleting A Relationship With A Beneficiary Or Trustee to remove the unlinked corporate trustee company from the trust profile.
Upload historical documents
Document management in Connectworks is covered extensively in our training module Document Management - The Basics (session 1) - we recommend all users watch this 25min video and download the associated workbook.
A written article is also available here: Storing & accessing documents
Update the financial ledger
For more information on using the trust ledger please see our detailed articles here: Assets & Liabilities
It is likely that duplicate contacts have been created by the XPM import. To quickly locate and merge these profiles see follow the instructions in our article Monthly Merge Check for Firm Administrators.
We recommend completing this step after all new entities have been imported.