Transact. Getting Started Guide

Transcription

1 Transact Getting Started Guide

2 Run your deal checklist online Automate the transaction process so your deals move faster and more securely. Create Manage Close Set up an online workspace based on your documents checklist and invite participants. The online checklist becomes the primary way to exchange deal files, eliminating overload. Closing the deal is ordered and organized so you can quickly prepare closing binders (known in the UK as bibles).

3 Discover your checklist The documents checklist is the principal screen you ll use to exchange and organize draft agreements throughout the course of the transaction. In this guide, we ll create a new checklist together and learn how to manage the transaction and close the deal. Folders are on the left. The document status is on the right. At a glance, you can see if the document s signed. Each row contains files (e.g. the current version, signature pages, and schedules).

4 Create Table of contents Manage Close Page Access Workshare Transact 6 Name the deal 7 Create a new checklist or replicate an existing one 8 Name the parties and folders and add document details 9-11 Go to the deal for the first time 12 The Deal actions menu 13 Set up status labels 14 Invite participants 15 Set user roles 16 Set document access restrictions 17 Upload draft documents that will have versions Page 19 Upload new versions 20 See the version history and view older versions 21 Upload documents that have no versions 22 Find documents in the checklist 23 The timeline 24 Export the checklist 25 Edit the checklist 26 Page Add execution versions 28 Upload schedules and signature pages 29 Add final versions 30 Create closing binders (bibles) 31 See all final versions 32 Download the closing binder (bible) 33 Create an index for the closing binder (bible) 34 Get started

5 Create Set up an online workspace based on your checklist and invite participants. 5

6 Access Workshare Transact Create You can create new deals and access your existing deals, wherever you are. Open the Workshare desktop app or sign in to my.workshare.com, and select Transact. If you want to start a new deal, click here. If you want to open an existing deal, select it. 6 Click Create new deal

7 Name the deal Create When you create a new deal, you ll be asked to set up the deal s structure. This includes giving it a name and indicating which parties and documents will be involved. The first step is to give the deal a name. When you ve given it a name, click Create Deal. 7 i As the deal creator, you have Admin status, which means you can invite people to join the deal and edit the checklist (page 16).

8 Create a new checklist or replicate an existing one Create After you ve created your deal, you ll be asked whether you want to create a new checklist or replicate an existing checklist. To create a checklist from scratch, click Create a new checklist. Project Sunrise To replicate a checklist from another deal, select the deal, then click Replicate selected. 8

9 Name the parties Create The next step is to name the parties to the deal and give each one an abbreviation that will be used to identify it in the documents checklist. Enter the names of each party to the deal. Give each party an appropriate abbreviation that the deal participants will recognize. Names and abbreviations must be unique. When you ve finished adding the parties, click Continue. 9

10 Name the document folders Create Now create folders to contain the documents for the deal. Each folder should represent a different section of the documents checklist. Enter unique folder names appropriate for the deal. When you ve added all your folders, click Continue. 10

11 Add the document details Create Now that the folders are set up, name the documents that will go in them and indicate which parties will sign the documents Enter a unique document name. Add parties to the document. If you want to allocate responsibility for producing drafts of the document, use the Responsibility field. Responsibility is optional. You can also add a document description and requirements. These fields are optional. 4 Select the next folder and add its document names and parties. 5 When you ve completed all the documents in the folders, click Go to Deal. 11 Click Go to Deal

12 Go to the deal for the first time Create When you go to your deal for the first time, it will be empty. The next few pages will cover setting up status labels, inviting participants and setting access restrictions. You can also jump to a specific area of the deal. See every activity that s happened in your deal (page 24). Exchange files and create final versions (page 19). Access final versions in the documents checklist (page 32). See all parties to the deal. Invite people to your deal and grant admin rights (page 15). Modify and control your deal (page 13). 12

13 The Deal actions menu Create The options to modify and control your deal are available from the menu at the top of the deal. Download a Word or PDF version of the documents checklist that can be printed. Edit the documents checklist. i Admins only. Leave the deal. Download all files in the checklist or download only the closing binder files. Shortcut to Invite new participants. i Admins only. i The deal owner can t leave the deal. Delete the deal. All files will be deleted and the deal will not be recoverable. i Deal owner only. Add or remove status labels and change the existing label text or colors. i Admins only. Users can turn notifications on or off for each deal. By default, notifications are turned off. See a summary of the status of all documents in the deal so you can understand the number of documents currently at each stage of the process. 13

14 Set up status labels Create Deal admins can apply status labels to documents to help participants keep track of how each document is progressing in the deal. By default, there are four status labels available: Satisfied, Agreed form, Incomplete and Outstanding. To change which labels and colors are available for your deal, click at the top of the deal and select Set up labels. To edit the text of an existing label, click Edit. Enter the new text and click. To remove an existing label, click Remove. To add a new label, click add text in the color of your choice. Enter the text for the label and click. 14 i To see how many documents are labeled with each status, click and select Status summary.

15 Invite participants Create 1 To invite others to join your deal, click Participants. You ll see a list of participants who currently have access to the deal. 2 Click Invite new participants. i Only users with Admin status can send invitations. To give another participant Admin status, click the menu next to their name and select Grant admin rights. 3 Add the addresses and click Invite. An invitation will be sent to each of the addresses. Pending invitations will be shown below Current Participants. While an invitation is pending, you can cancel the invitation. 15

16 Set user roles Create When you create a new deal, you are the deal owner. You re the only participant who can t leave the deal and the only participant who can delete the deal. As the owner, you are a deal admin and can grant admin rights to other members. Admins Invite/remove other deal participants Grant/remove admin status for participants Edit the checklist Set up and assign status labels Control document access restrictions Delete any file in the deal Additionally, admins can perform the same actions as members. Members Upload/download files Delete files that they ve added Add status notes Export the checklist See the deal status summary i Deal admins can choose to restrict access to a row so that deal members cannot perform the actions above on that row (page 17). Granting admin rights Initially you will be the only deal admin, but you can grant admin status to other participants in the PARTICIPANTS tab. Simply click the menu next to the person s name and select Grant admin rights. 16

17 Set document access restrictions Create You can prevent participants from accessing certain document rows. If you remove a participant s access to a row, they ll only be able to see the row s index (e.g. A1). They will not be able to see the row s name, status, files or other information. To manage participant access for a document, click the button next to it. By default, all participants can access the document. To restrict access, click Selected participants only. When you choose Selected participants only, initially you ll be the only person who can access the document. Grant access to more participants by selecting the checkboxes to the left of their names. Next, click Apply. The manage access icon is displayed next to the document s name in the checklist: 17

18 Manage The online checklist becomes the primary way to exchange deal files, eliminating overload. 18

19 Upload draft documents that will have versions Manage The documents checklist initially appears without any status labels, status notes or document versions. Upload the first version of a document. Add a status label and a status note. Everyone participating in your deal can see the document version and the status. 19

20 Upload new versions Manage Once the first draft document is uploaded, you can continue updating it. To update the status label, select it. To update the status note, select New Note from the. menu. To upload a new version of the document, select Draft Version from the menu. 20 i When you upload a new draft version, you also have the option to include a comparison of the new version against the previous version. To automatically create a DeltaView comparison, select Automatically generate a comparison against previous version added. To upload a comparison, drag and drop it from your desktop.

21 See the version history and view older versions Manage You can track the lifecycle of a document at any time. Click the menu next to any document in the checklist and select Version History. View an older version by clicking its name. From the file view, you can save the file or print it. 21

22 Upload documents that have no versions Manage If a document will not have versions, you can upload it as a related file. See related files. 22 Add a related file. Several related files can be added to one checklist row.

23 Find documents in the checklist Manage With Transact, it s fast to find the checklist items you need. You can use the search tool to find a document by it s index, name, party or responsibility. You can also look for rows that have a particular status. Search for keywords Select one or more statuses When you re ready, apply your filter When you re done, clear your filter. 23

24 The timeline Manage The timeline provides a chronological feed of every activity within the deal. It records file uploads and deletions, status note additions, and participants joining or leaving the deal. Participants who have notifications switched on will receive an update about each activity. 24

25 Export the checklist Manage You can export a copy of the documents checklist as a PDF or Word file at any time. Simply select Export checklist from the menu on the right-hand side of any screen and choose your preferred file format. More information about the menu is available at the end of this guide. 25

26 Edit the checklist Manage As someone with Admin status, you can edit the documents checklist at any time. Turn edit mode on. To edit the folder names, click Edit folders. To duplicate or delete the row or add a new row, click the menu. To edit the party names and abbreviations, click Edit parties. Edit the details for an item in the checklist by clicking in the editable area. 26 i Removing a document also removes related versions and related files. If you may need this content later, instead of deleting the document, create a folder named Deleted Documents and move the document there.

27 Close Closing the deal is ordered and organized so you can quickly prepare closing binders (known in the UK as bibles). 27

28 Add execution versions Close When your documents are in agreed form, you can use the documents checklist to organize and exchange execution versions. Upload a new version of the document, which will be designated as the execution version. Alternatively, designate the latest version of the document as the execution version. 28

29 Upload schedules and signature pages Close You can also use the documents checklist to organize any schedules and signature pages. Upload schedules. Upload signature pages. When a participant uploads a signed agreement or signature page, they can indicate which party signatures are contained in the file by selecting the relevant assigned party. If they do, the relevant parties are ticked off automatically so you can see at a glance which signatures have been uploaded. 29

30 Add final versions Close You can choose whether you d like to use Workshare s bespoke PDF tool to create a the final version (bible version) or whether you d like to upload a pre-existing final version from your computer. Upload a file as the final version. Designate the latest version as the final version. Use Workshare s PDF too to create a the final version (see next page). 30 i The execution version needs to be uploaded before you can use Workshare to create a final version.

31 Create closing binders (bibles) Close You can create the closing binder (bible version) using Workshare s bespoke PDF tool. Select the menu next to any document in the checklist and click Open Final Version builder. You ll be redirected to the screen below. The execution version of the document automatically forms the basis of the final version, and individual pages from the signature pages and schedule files can be inserted. 1 Select signature pages 2 Drag pages from the signature/schedule preview into the final 3 and schedule files version on the right. from the checklist. To drag the whole file into the final version, choose Select all. To select multiple pages, hold down Ctrl as you click them. Hover over a page to zoom in on it or delete it. To rearrange a page, drag it to the new place. You can drag unwanted pages from the final version into the trash. To recover pages you ve removed, click the trash. 4 When you re happy with the final version, click Create final version. It will appear in the Final Versions tab (see next page). 31

32 See all final versions Close The Final Versions tab provides a place for users to view all the final versions of the transaction documents following the closing of the deal. All final versions uploaded to or created in the documents checklist appear here. 32

33 Download the closing binder (bible) Close When the deal has closed, you can download all final versions and related files that make up your closing binder (bible) as well as the closing binder (bible) index page. See next page for more information about the index page. 33 i Participants who want to store all the deal files locally can download them by selecting Bulk download and choosing All files presently added to [deal name].

34 Create an index for the closing binder (bible) Close When you bulk download the closing files in a deal, you have the option to create an index page. This is a Word document that helps you stay organized. It provides a hyperlink to each of the final versions and related files that you downloaded. 34