Escrow Settings

Posted on | By msiedit
  • Click Escrow on the top menu bar.
  • Select Escrow Settings/Preferences.
  • Enter or adjust the Default Administrative Percentage in the space provided.
  • Enter the Default Minimum balance to earn interest in the space provided and place a checkmark in the Use Average Daily Balance box, unless you are calculating interest on the end of month balance.
  • Enter the Deposits Sub-account Code, Interest Sub-account Code, and the Disbursements Sub-account Code in the spaces provided.
  • Enter the Default Escrow Fund in the space provided. DO NOT make an entry here if you use more than one fund to track projects.
  • Enter the Administrative Interest Share Revenue Account in the space provided.
  • Click Save.
Category: Escrow, Fund Accounting, Optional Modules