We operate client escrow accounts for the majority of our clients and believe that by combining the claims management functionality, with a custom designed payment and reconciliation module, which includes cheque production, the scope for employee defalcation is minimised and reconciliation significantly simplified.
All accounts are held in ‘trust’ in the client’s name and can be in variable currencies e.g. Sterling and Euro. An initial sum is agreed and ‘top-ups’ requested at agreed intervals, backed up by confirmation of payments made. Accounts are reconciled monthly and issued to the client for checking. Clients can audit at any time.