Overview

We have updated our functionality to allow users to disburse escrow overages directly from the Properties > Post screen.

Purpose

This update eliminates the need to navigate back to the Properties > Escrow screen, streamlining users' posting workflow and saving valuable time.

Workflow

Step 1: Navigate to the Post Screen

1. Go to the Properties menu and open a pending property that has an Escrow Deposit.
2. Once the property is open, navigate to the Post screen.
3. Locate the Escrow Overage to Disburse section.
4. Click the dollar amount hyperlink to initiate the refund process.

Step 2: Complete the Escrow Check Details

Review and complete the check details in the pop-up window:

• Escrow Bank Account: Pre-filled (editable).
• Escrow Check Template: Select a preferred template from the dropdown.
• Check Number: Enter the check number.
• Date: Pre-filled (editable).
• Amount: Pre-filled (editable).
• Memo: Pre-filled (editable).
• Escrow Payee: Search for and select the appropriate payee.
• Finalizing the Check:
  • Click Post (do not need to print a physical check).
  • Click Post and Print (need to print a physical check immediately).

Step 3: Review Post-Screen Updates

• A notification pop-up will appear confirming that the escrow check was added successfully.

• The Post screen will automatically refresh, and the Escrow Overage to Disburse section will no longer be visible.

Step 4: Close the Transaction

Users can now proceed to close the transaction as normal, or follow one of the two workflow paths below based on the operational needs:

Option A: Standard Closing (Writing an Escrow Check for the Balance to a Different Entity)

Follow these steps to proceed with a normal closing and issue the remaining escrow balance to an outside party:

1. On the Post screen, check the Record Payments received checkbox.
2. Check the Record all payments as a single deposit checkbox.
3. Click the Post button.
4. Navigate to the Escrow submenu screen.
5. Click the Check button.
6. Review and complete the check details in the pop-up window.
7. Final Step: Click Post (if no printing is needed) or Post and Print (to print a physical check).

Option B: Writing an Escrow Check to the Company for Commission

Follow these steps if your workflow requires transferring the remaining escrow balance to your company for commission:

1. On the Post screen, check the Write Escrow check paid to Company for Commission checkbox.
2. Enter the Check Number.
3. Click the Post button.