In the brokerage statement workflow, Stax.ai extracts information and values from brokerage statements and transforms them into actionable data, simplifying trust accounting.
Please review the individual sections for more information about each part of the workflow.
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The Brokerage Statement Workflow
To ensure a smooth workflow, it is essential to confirm that all accounts and plans are correctly entered in the TPA Plan Editor before proceeding
Smooth Workflow Overview
In an ideal scenario, brokerage statements are first uploaded into the Upload stack, where individual statements are split from documents, linked to accounts and plans, and then moved to the File it! stack for saving and reconciliation extractions.
After processing through these two stacks, the statements land in the Trust Accounting stack. They’ll stay there as they go through another round of reconciliation checks until trust accounting is run on the specific account or plan.
Once trust accounting is complete, all statements in the Trust Accounting stack are moved to the Filed Statements stack, where they remain permanently unless manually removed.
Human In-the-loop Process Overview
Occasionally, statements in the Upload folder encounter issues that disrupt the smooth workflow - for example, when new accounts haven’t been added to the correct plan in our TPA Plan Editor.
To ensure everything is properly filed, Stax.ai moves any documents that encounter an issue into the Todo stack. From there, the Stax.ai team will review the documents in the lower "My Documents" section, either resolving the issue directly or moving them into one of the nested stacks.
These stacks are monitored by your team for any items that may need your input.
For more information on this stack, see the Todo page in our Knowledge Base.
Supported Document Types
Stax.ai only accepts PDFs as our current supported file type. These PDFs must be uploaded in a printable mode, as web-optimized PDFs currently will not render in Stax.ai.
PDFs must not be password protected and can not be uploaded as ZIP files.
Brokerage Statement Stacks
At Stax.ai, we use the term “stacks” instead of “folders.” A “stack” is simply a folder in your workflow that holds documents.
To keep things organized, stacks can be main stacks or nested stacks, making it easy to sort and manage your files. Each stack serves a specific function, and most include built-in automations.
The Upload stack is where brokerage statements are initially placed to begin automated processing.
The To Do stack is where brokerage statements await human review and assistance.
The split stack is used to manually separate documents with multiple statements into individual ones.
The Find Info stack is where manually split statements are reviewed to match account and plan information.
The File It stack is where all information and tables from the brokerage statement are extracted for filing and reconciliation.
The Trust Accounting stack is where saved statements are stored for trust accounting, along with your Excel outputs.
The Filed Statements stack is where reconciled statements are stored after being exported to your Excel sheets, allowing you to review any past statements.
The Original Uploads stack is where your originally uploaded document is stored before any splitting or extraction takes place; this document serves as a copy for troubleshooting purposes.
To see where a document is currently located, check the Location detail on the statement.
To avoid potential errors, please refrain from moving documents that are actively being processed within an automation step.
