Providing Software Solutions for Real Estate Brokers, Attorneys, Title

January 20, 2018 | Author: Anonymous | Category: Business, Accounting, Managerial Accounting
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Providing Software Solutions for Real Estate Brokers, Attorneys, Title Companies and the entire Real Estate Industry.

Robert Erney President Elite Software Corp PO Box 5087 Chicago, IL 60680 Office: 630-483-1035

Elite Software Corp.


Real Estate Escrow Compliance Software

Real Estate Brokers are required by License Law to keep and maintain certain records regarding escrow funds. Escrow funds are typically defined as “”all monies, promissory notes or any other type or manner of legal tender or financial consideration deposited with any person for the benefit of the parties to the transaction”. As Every Real Estate Broker is aware, each Sponsoring Broker is required to keep most or all of the following: 1. 2. 3. 4. 5. 6.

An Escrow Journal for each escrow account; A Ledger for each transaction; Perform a monthly reconciliation; Keep an Escrow Account Log; Maintain Ledger Cards for each transaction; Maintain Broker Ledger Cards for each transaction.

The Elite real estate escrow management software provides an escrow management software solution to this tedious and time consuming task. The Elite escrow software program includes: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Escrow Journal; Property Ledger Cards; Broker Ledger Cards; Escrow Account Log; Monthly Reconciliation Sheet including Deposit and Withdrawal Logs; Real Estate Agent Logs; Agent Maintenance Records and Alarms for due dates; Automatic Reconciliation Calculation; Check Writing; Dozens of Reports

The Initial Screen Display The Escrow Journal - A chronological accounting of all deposits and withdrawals to the escrow account.

Company Information – Begin with entering your brokerage information. Simply click the Options button at the top right of the initial Ledger Screen.

New Bank Account Entry – To enter an escrow bank account, simply click the Account button at the top of the initial Ledger Screen. Please keep in mind if you will be entering more than one account. You may want to enter a short name before the account number so there is no confusion when choosing the account. Entering data in the wrong account can be a real problem come reconciliation time.

Real Estate Agent Entry – To enter your real estate agents, simply click the Realtor button at the top of the initial Ledger Screen. When entering the License # please keep in mind the field is only 9 digits long. If you enter to many digits the software closes. Please keep digits and spaces under 10.

New Property Entry – To enter a new listed property, simply click the property button at the top of the initial Ledger Screen.

Ledger Card Entry – To make a ledger card entry, click the ledger button at the top. By typing the first part of the property address, most data is automatically filled in for property ledger card entries.

Property Journal – This Journal lists Records of all properties. Clicking on any given address immediately brings up the property ledger card for that address.

Property Ledger Cards - Simply click on any property address in the property ledger and the property ledger card for that address appears.

Realtor Records – This Journal lists Records of all real estate agents sponsored by the broker. Clicking on any given agent immediately brings up the realtor information card for that agent.

Realtor Records – Simply click on any real estate agent in the realtor ledger and the realtor information card card for that address appears.

Escrow Bank Account Journal – This Journal contains records of all escrow bank accounts used by the brokerage. Clicking on any given account immediately brings up a record card for that particular bank.

Escrow Bank Account Information Card – Click on any bank account in the accounts ledger and the escrow bank account card card for that bank account appears.

Broker Ledger Funds Journal –- This Journal is a chronological accounting of all broker funds deposits and withdrawals to the escrow account.

Broker Ledger Cards – Simply click on any broker transaction in the broker ledger and the broker ledger card for that transaction appears.

The Reconciliation Work Sheet The Elite Escrow Management Software includes a reconciliation worksheet that handles the tedious process of the monthly reconciliation in minutes. The broker simply enters any nonescrow amounts into the Broker Ledger Card (such as bank account fees) enters the bank statement balance, and checks off any outstanding deposits or withdrawals and the worksheet. That’s it! The program does the rest. The account is reconciled in a matter of minutes instead of hours, (and in the case of written errors, days).

The Reconciliation Work Sheet

Reports – Simply click on the Reports button at the top of the initial Ledger Screen and the report menu appears. Then choose the report you want.

The Reconciliation Report

The Reconciliation Report cont’d.

The Escrow Journal Report

The Broker Ledger Card Report

The Property Ledger Card Report

Check Writing from Elite – After making your ledger card entry, click “Print Check” to print your check from REMS.

Elite Escrow Management Reports The Elite Software provides a multitude of reports that are just a click away. These reports include: The Escrow Journal Individual Realtor Report All Sponsored Agents Report Current Sponsored Agents Report Past Sponsored Agents Report Individual Ledger Card Report All Ledger Cards Report Closed Ledger Cards Report Open Ledger Cards, Report Individual Broker Ledger Card Report

Individual Broker Ledger Card Report All Broker Ledger Cards Report Broker Ledger Cards by Date Report Close Broker Ledger Cards Report Open Broker Ledger Cards Report Agent CE Report Agent License Report Agent E&O report Agent Auto Insurance Report Previous Reconciliation Reports

Elite Software Corp. Providing Software Solutions for the Real Estate Industry Elite Software Corp. Sales, Customer Service and Technical Support PO Box 5087 Chicago, IL 60680 Phone: (630) 483-1035

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