AUTOMATED RECONCILIATION
RynohRecon Provides
Three-Way Account
Reconciliation
RynohRecon automatically retrieves transactions from your online banking and reconciles them with transactions from your escrow accounting software on a daily basis.
ABOUT RYNOHRECON
Anomalies, Potential
Fraud & Audit Issues
RynohRecon automatically retrieves transactions from your online banking and reconciles them with transactions from your escrow accounting software on a daily basis.
RynohRecon works to identify anomalies, potential fraud and audit issues that expose you to potential loss. By providing automatic and daily three-way account reconciliation, RynohRecon helps agents ensure funds are not “taken” from one file to cover another, nor can disbursements be “missed.”
Unique Features:
- Automatic Group Deposit Matching
- Automatic Sweep Account Reconciliation
- Monthly Reconciliation Evaluation
These features provide more rigorous and comprehensive oversight for faster error discovery and correction.
About Reconciliation
Reconciliation Wizard
The Reconciliation Wizard identifies accounting errors and assists users in ensuring their accounts are reconciled. The Reconciliation Wizard:
- Verifies that File-to-File Transfers are in Balance
- Ensures there are no “forced” Cleared Transactions
- “Forced” Cleared Transactions are Transactions that are Manually Cleared in the Software and do not have a Matching Bank Transaction
- Guides the User Through the Correction Process Ensuring that your Escrow Account Remains Compliant with ALTA’s Best Practices, and that you are Audit Ready!
Reconciliation Analysis Report
The Reconciliation Analysis Report ensures that an account is balanced three ways and identifies potential audit or regulatory concerns including:
- Transactions that have Cleared the Bank but are not Posted in the
Accounting Software - Files with Negative Balances & Stale-Dated Checks
- Pending Deposits & Files with Retained Funds
- Flags Errors (Including Posting Errors and Bank Errors)