Any changes made here will update the statement’s metadata, ensuring consistent information across the platform.
How it works:
After a statement is processed through File It!, its information populates the Account Summary page and Status Report. Once this occurs, the statement is no longer marked as missing and is ready for review.
The account summary is the only editable section of the trust accounting. Please do your reconciliation, classification, and journaling in this part of the platform. After this section has been updated, the plan summary section will update as well with the sum of all transactions for all accounts.
Account Information
The Account Information section allows you to update relevant account details. Changes made here are reflected in the Plan Editor.
Investment Provider: Select the main provider from the dropdown. Be aware that some statements may have subsidiary names but follow formats from larger providers like National Financial Services or RBC.
Account Number: Enter the full, unmasked account number if possible.
FBO/Participant: Use this field for the account name, even if the account isn’t tied to a specific individual. Enter the name as you’d like it saved (e.g., Smith, John vs John Smith).
Account Type: Stax.ai only looks at Brokerage Statements for trust accounting. Anything set to Record-Keeper or ignore will not be included in the exported sheets or status reports. You can always change the account type by going through the Plan Summary page for any previously ignored account.
Notes: Use this section for messages about reconciliation. If the Stax.ai | AI Retirement Plan Admin Software for TPAs team encounters issues like missing pages, they’ll leave a note and click “Reviewed.”
Reviewed: This adds a user bubble next to the account in the Status Report, indicating a message was left.
Trust Accounting
The Trust Accounting section displays extracted values from approved brokerage statements. You can edit these values or “approve” statements to lock them in place.
Moving Transactions
Use the journal to function to move extracted amounts from one money type to another in the account summary section.
Use the Journal To feature to transfer amounts between money types.
Right-click the relevant cell and choose Journal To.
Enter the amount to transfer.
Select the correct money type from the dropdown.
Click Confirm.
To reverse the transfer, journal the money back to its original type.
Note: If the cell contains a Journal To-ed value, you will be unable to edit the cell using the blue pencil icon. All alterations will need to be done through the Journal To menu.
Editing extractions
Hover over the value you want to change.
Click the blue pencil icon.
Make edits and click the checkmark to save.
Finding statements
If a statement is missing, the month header will be red.
Click Find Missing beneath the month.
Verify the search query based on plan year, account number, and statement period.
Scroll through search results (do NOT choose the file that is located in Brokerage Statements/Original Uploads).
4. Open and verify the correct statement.
5. Click Attach Statement to Account.
6. Return to the investment dashboard and click Refresh Data.
Transaction Details
Transaction details are extracted during File It!’s table extraction process.
Right-click a month header and choose Show Transactions to see only that month’s transactions.
Use Filter Transactions or click column headers to sort items.
To edit transactions, click Edit next to a transaction line.
Type: Select from the dropdown.
Sub-type: Choose or create a custom sub-type.
Description: Update the description field.
Amount: Adjust the amount.
Open: View the associated statement.
+ Create: Add a new transaction.
Delete: Remove a transaction.
Approving statements
Once trust accounting is complete for a specific period, click Approve under the month header. Approval locks values and transaction details, preventing accidental changes.
To make edits after approval, right-click the period header and select Unapprove. This will unlock the statement for adjustments.