Monthly Account Reconciliation

Monthly Reconciliation

Elite Software's Escrow Compliance Accounting Software has the most simplistic reconciliation process in the industry and can be completed in minutes. The user chooses a reconciliation date from the bank account monthly bank statement, enter the monthly ending balance, and check off all the deposits and checks that have cleared from the bank statement. All the deposit and withdrawal transactions that have not cleared from the bank statement are left unchecked on the reconciliation worksheet and shown in the outstanding deposit and outstanding withdrawal fields. If the journal is equal to the ending balance, the Difference Journal/ Reconciliation will be zero. Then the user saves the reconciliation for the month. The reconciliation will not allow the user to save the reconciliation unless the Difference Journal/Reconciliation equals zero.
  • Reconcile Transactions for Escrow Trust Accounts
Reconcile all your escrow bank accounts and conduct seamless monthly balancing. Choose your trust account and set your bank statement date to generate your automated reconciliation worksheet for the month.
  • Account for Outstanding Deposits and Withdrawals While Reconciling
While reconciling your transactions for each month, you can easily uncheck outstanding withdrawals and deposits to exclude transactions that haven't cleared for the reconciliation period so you can achieve a zero balance to the bank statement ending balance. In addition, you can sort outstanding transactions by ascending or descending order to locate checks that have not yet cleared conveniently.
  • Follow-up On Outstanding Balances Using Your Broker Reconciliation Statement Report
Use the Broker Reconciliation Statement Report to view outstanding transaction balances that have not cleared, so you take action to resolve those pending balances.
  • Review Your Audit-Ready Reconciliation Statement Report
Access your reconciliation worksheet for the state, which gives you a comprehensive view of the reconciliation between your bank statement ending balance and your escrow journal ending balance.
  • Achieve Compliance to State Rules and Regulations
Conveniently reconcile your bank accounts each month using our quick and easy-to-use system process that saves you time each month and confirms the accounting is compliant with state commission rules and regulations.
  • Easy-to-use
Elite Software is easy to use with prompted field entries and simplified steps to manage all of your escrow accounting activities in one place.
  • Safe and secure
Your data and account information is fully encrypted and protected with secure password-protected log-ins and time-sensitive sessions, so you are safely logged out of the account if you forget to or after a period of no activity in the software.
  • State compliant
Elite Software is designed and developed with uniquely formatted reports and fields that follow state laws and requirements to keep you in state compliance and prepared for state commissions audits.
  • Aesthetic design
Our new design is clean and modern with well-organized navigation so you can efficiently access the modules you need to complete your entries and review reports.
  • Unique features
Our unique features offer convenience and time savings on accounting tasks that can be tedious and time-consuming. With software features like advanced reporting, check writing, transaction tracking, among others, we allow our users to have complete flexibility and success at their escrow management work.
  • Technical support
We offer our customers technical support during weekday business hours and Saturdays, while also giving customers the option to schedule support appointments during after hours to fit their schedule and time zone.

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