We’re proud to announce that Qualia has launched a Reconciliation Service that pairs our award-winning reconciliation and accounting software with a team of dedicated Reconciliation Specialists who can help guide title and escrow companies with their reconciliations so they remain audit-ready and best practice-compliant.
Qualia’s accounting and reconciliation features already provide title and escrow companies with escrow monitoring, full monthly reconciliations, fraud protection, smart balancing, and reporting. With the Reconciliation Service, companies now get access to experienced reconciliation experts who audit their accounts, promote ALTA Best Practices, and manage their daily and monthly reconciliation processes.
The team of Reconciliation Specialists can help Qualia members by:
- Cleaning up and catching up their accounts
- Managing and clearing their daily exceptions
- Migrating existing clients if they are new to Qualia
- Alerting members of any audit red flags, including file balance shortages, stale deposit-in-transits, and other outstanding lienable items
- Compiling a comprehensive digest with real-time snapshots of their accounts
- Creating electronic month-end reports required by underwriters
- Preparing for any audits that may arise
Offering this Reconciliation Service means title companies can spend more time focusing on what they do best: closing title. The support of an experienced, dedicated Reconciliation Specialist also minimizes the risk of escrow loss from fraud, theft, or error, and allows title companies to gain peace of mind knowing reconciliations are timely and accurate. If an audit does arise down the road, Reconciliation Specialists can help companies properly prepare to streamline and shorten the audit.
