RynohRecon

RynohRecon automatically retrieves transactions from your online banking and reconciles them with transactions from your escrow accounting software on a daily basis.

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 include:

  • automatic group deposit matching;
  • automatic sweep account reconciliation; and
  • monthly reconciliation evaluation.

These features provide more rigorous and comprehensive oversight for faster error discovery and correction.

Reconciliation Wizard

The Reconciliation Wizard identifies accounting errors and assists users in ensuring that their accounts are properly 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.
  • flags errors (including posting errors and bank errors); and
  • 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;
  • pending deposits;
  • files with retained funds; and
  • stale-dated checks.
RynohRecon

RynohRecon Highlights

  • Alleviates the need for manual reconciliation
  • ALTA Best Practices Pillar #2 Compliance
  • Daily three-way reconciliation
  • Flags items that prevent proper three-way reconciliation
  • Deters fraud, embezzlement, and accounting errors
  • Makes monthly audits a snap

I love that I do not have to go through a 50+ page bank statement and reconcile at the end of the month. It used to take 3 hours to go through everything.

Sarah Mashburn

Memphis Title Company

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