Combines the functionality of the other three modules to provide daily and monthly management reports.
RynohReport combines the functionality of the other three modules to provide daily and monthly management reports. The daily “Morning Report” should be used to determine that all deposits have been received by the bank, all pay-offs, recordings, and insurance payments have been received and presented for payment in a timely manner, and that incoming wires and deposits match expected receipts.
The “Morning Report” lists:
- All disbursements in a user defined alert status (checks not cleared).
- Unmatched Transactions / Reconcile Alerts: this section of the report provides notification of items clearing the bank that have no corresponding match in the production software (e.g. SoftPro, ResWare, TSS, etc.), and also any deposits showing in the production software as having been deposited, but have not been shown to be on-deposit in the bank.
- File Balance Report lists all files showing either a negative or positive balance. Files showing balances indicate files where disbursement has not been completed. This report is a powerful tool to immediately detect employee fraud.
In addition RynohReport provides a daily Check Exceptions Report to designated recipients. The email will state either NO POSITIVE PAY EXCEPTIONS or POSITIVE PAY EXCEPTIONS. If there are exceptions, the report will list all item in question and provide a recommended procedure for resolving the pay/ do not pay action to be taken. The Client is responsible taking the appropriate action with their bank to reverse payment on the item in question. Under no circumstances will Segin be liable for the failure of the agent to have the item in question returned by their bank (paying bank).
RynohReport also maintains an archive of monthly three-way reconciliation reports along with associated documentation that may be required by auditors and regulators. Provided that all the discrepancies reported in the reconciliation section of the “Morning Report”, and also identified in the reconciliation wizard, are corrected, the associated escrow account will always be balanced three-ways. The “Reconciliation Analysis Report” identifies other items that may represent audit or regulatory issues such as: Transactions banked but not booked; pending deposits; negative file balances; retained (undisbursed) funds; and stale dated checks. This Report can also be set up to be received daily. Monthly reconciliation reports can also be automatically sent to your underwriter each month. Before the monthly reconciliation is sent to the underwriter, the agent is sent the reconciliation along with the reconciliation analysis report to review, and make any necessary corrections. The interval between agent review and underwriter submission can be set by the agent.
- Comprehensive daily and monthly reports
- “Morning Report” reports fraud, embezzlement, bank errors, and employee errors along with any and all credit/debit anomalies
- Reports time-sensitive errors
Rynoh “Morning Report” is my daily shot of coffee! I start my day with Rynoh and love it.Sheryl Larson