Deposit Escrow Sub Accounting
Our Deposit Escrow Sub Accounting product is ideal for property managers, real estate companies, attorneys, municipalities, or other businesses that manage escrow funds for multiple clients. A Master account is established and sub escrow accounts are linked. There are no limitations on the number of sub accounts that can be added and you may also establish multiple Master relationships. An easy to read monthly report providing the account name, balance and interest earned provides a convenient snapshot of all your escrow accounts.
Features and Benefits:
- The ability to send out annual interest checks to the escrow account holders
- Simplified tax reporting, 1099INTs can be directly sent to the escrow account holders
- 1% Landlord Admin Fee Credit is automatically calculated and processed (where applicable)
- The ability to organize your escrow accounts into different categories with customized labels