Reconciliations

Qualia Reconciliations is a specialized service and software solution designed to keep title and escrow companies audit-ready and compliant. It combines advanced reconciliation technology with dedicated accounting specialists to perform daily and monthly reconciliations, manage exceptions, and provide real-time insights to reduce risk and improve operational efficiency.

Features

• Daily Reconciliations: Automated and expert-managed daily reconciliations to maintain accurate records.
• Month-End Three-Way Reconciliations: Complete reconciliations across escrow accounts, bank statements, and ledgers in minutes.
• Audit Readiness Dashboard: Real-time visibility into exceptions, uncleared items, and non-zero orders for all accounts.
• Exception Management: Specialists research, match, and clear accounting exceptions daily.
• Real-Time Alerts: Instant notifications for shortages, stale overages, outstanding credits, and lienable items.
• Integrated Communication: Secure messaging and activity tracking within the dashboard for collaboration.
• Bank Partner Network: Access to programs that waive fees and provide credits to offset service costs.

Capabilities

• End-to-End Reconciliation Support: From daily exception clearing to month-end reporting.
• Expert Guidance: Dedicated specialists with deep accounting and Qualia platform expertise.
• Fraud Mitigation: Continuous monitoring and alerts to reduce risk of theft or error.
• Scalable Operations: Handles high transaction volumes without compromising accuracy.
• Comprehensive Reporting: Electronic month-end reports for underwriters and audits.
• Real-Time Data Sync: Updates reflected instantly across the system of record.

Benefits

• Time Savings: Complete reconciliations up to 3x faster and save up to 20 hours per month.
• Cost Reduction: Average annual savings of \$35,000 on bank fees and technology costs.
• Audit Confidence: Stay best-practice compliant and prepared for audits at any time.
• Operational Focus: Free your team from manual reconciliations to focus on core business tasks.
• Risk Reduction: Minimize exposure to fraud and escrow loss through proactive monitoring.
• Improved Accuracy: Reduce errors with expert oversight and automated processes.