Enter outstanding checks on the property record (Do Not Enter Outstanding Deposits Yet)
Enter deposit equal to outstanding check on each property record
Record a deposit for all deposits in step 2, date the deposit the day before Go Live
Do a bank reconciliation dated the day before Go Live which clears only the deposits in step 3
Deposits Held - Already Cleared
Start with your open escrow register as of the day before Go Live
Enter all cleared and reconciled deposits held prior to Go Live on each property (skip deposits on the register that have not yet cleared on a reconciliation. We will enter those in the next step
Record a deposit for all deposits held
Do a bank reconciliation dated the day before Go Live which clears only the deposits in step 2
Outstanding Deposits
Start with Bank reconciliation prior to Go Live
Enter outstanding deposits on the property record
Check your work
Use the inquiry screen in darwin Cloud to see the total held in the Escrow bank account prior to Go Live
Get your bank statement from the bank for the month prior to Go Live. Look at the ending balance on that statement. Add any outstanding deposits to the bank statement ending balance. Subtract any outstanding check from the ending balance.
The result of the calculation above should equal the inquiry screen in Darwin
If you run Escrow Register report in darwin Cloud for all dates prior to Go Live the total on this report should equal the total on the open escrow register from your prior software