Bank Trust Account Management

Trust Account Management

Elite Software escrow compliance accounting software has a Master Escrow Account Log, giving the user a detailed listing of all escrow trust accounts being used. There is no limit to how many bank trust accounts you can enter into the software. Whether the user is holding one trust account or several trust accounts, Elite Software has them covered. Each trust account has a description area to include a memo or note specific to the account for easy distinction. When choosing one of the bank trust accounts for a deposit or withdrawal, a description will be displayed to eliminate entering transactions into the wrong trust account in error—a common mistake in many alternative accounting software programs. Choosing an account while entering deposits or withdrawals is an easy task. First, click the account box to reveal the account dropdown list view with all the available bank accounts. Next, choose your selected account to use for the transaction. Then, verify the account by reading the description to ensure the correct account is chosen. Finally, finalize the transaction, and that's it! Trust account information such as bank address, bank changes, descriptions, etc., can also be edited at any time.
  • Add as many Bank Accounts as you need
Easily manage all your bank trust accounts in one place and gather related account information from reports. There's no limit to how many trust accounts you can add to our platform.
  • View Active, Closed, and Deleted Bank Accounts
Sort your trust accounts by active, closed, or deleted so you can easily see the accounts you have open for escrow transactions while also having the ability to view older accounts that are no longer active or deleted.
  • Reconcile Bank Accounts
The state requires monthly reconciliations for escrow bank accounts. Now, you can simplify the reconciliation process using Elite Software's reconciliation worksheet and review those monthly reconciliations in the reporting tab to ensure you are in complete state compliance.
Bank Transaction Logging
Efficiently create journal entries to log your all bank transactions from our journal entry tab. Enter the transaction date, bank account number set the transaction type, and identify if the transaction is an escrow or broker entry.
Daily Tracking on all Bank Account Balances
View a list of all your journal transactions on your journal dashboard and sort and filter the entries by date, bank account, property address, transaction amount, and other key fields to easily track your balances and activity.
  • 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 after hours to fit their schedule and time zone.

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