Guide to Escrow Accounts by zik12618

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									                                           Table of Contents




                     Escrow Manager
                   Quick Reference Guide




Escrow Manager   Quick Reference Guide                1
                                                                                                                                                    Table of Contents

To Log Into Fifth Third Direct and Escrow Manager ................................................................................................................ 3
Master Accounts ......................................................................................................................................................................... 7
To Create New Escrow Account .............................................................................................................................................. 10
 To Allocate Funds from Master Account ............................................................................................................................... 16
To Transfer Funds..................................................................................................................................................................... 24
To Remove and Show Unallocated Transactions................................................................................................................... 32
Activity Reports......................................................................................................................................................................... 38
Processing Alerts...................................................................................................................................................................... 41
Statements................................................................................................................................................................................. 42




6/09

Escrow Manager                             Quick Reference Guide                                                                                                           2
                                                            Logging In



Steps:                              Fifth Third Direct
To Log In



      Log into Fifth Third Direct
on the Internet:
https://direct.53.com




Escrow Manager                      Quick Reference Guide       3
                                                    Logging In



Steps:                      Fifth Third Direct
To Log In



    Click Treasury
Management tab.



    Click Escrow Manager.




Escrow Manager              Quick Reference Guide       4
                                                        Logging In



Steps:                      Welcome -- Escrow Manager
To Log In



    Type User ID and
Password and click Login.




Escrow Manager              Quick Reference Guide           5
                                                              Logging In


Steps:                            Welcome -- Escrow Manager
To Log In



     If more than one Master
Account is assigned to the same
owner, click the drop-down for
the account desired.




Escrow Manager                    Quick Reference Guide           6
                                                                                              Master Accounts


Steps:                              Master Accounts -- Account Summary
Master Account
Summary Screen
Information
Last Processed Date/Current
Date/Next Processing Date: No
processing on Saturday or
Sunday
Processing Alert: Number of
alerts to potential problem on a
Master Account or one of its
Escrow Accounts
Pending Allocations/Transfers
transfers: Transactions initiated
on Current Date, not yet                                            Golden   Escrow Account
processed
For Master and Escrow
Account Balances:
Master Balance: Balance in the
Master holding account, waiting
to be allocated to Escrow
Account or transferred out of the
account.
Escrow Balance: Total of
balances in all Escrow accounts
attached to the Master
Current Balance (Master or
Escrow): Reflects Balance after
Last Processed Date
Available Balance (Master or
Escrow): Reflects
transfers/allocations made during
the day



Escrow Manager                      Quick Reference Guide                                               7
                                                                            Master Accounts


Steps:                             Master Accounts -- Transaction History
Master Account
Transaction History
Information
The screen shows history for any
transactions to the Master
Account.




Escrow Manager                     Quick Reference Guide                              8
                                                                              Master Accounts


Steps:                               Master Accounts -- Transaction History
Print or Download
Transactions
Escrow Manager maintains a
transaction history of 60 days.
Use the dropdown menus to
select a date range of
transactions to print or download.
Click Print to print transactions
from the date range.
Click Download to save a file to
provides a panel with instructions
for downloading a file to specific
location.




Escrow Manager                       Quick Reference Guide                              9
                                                                             To Create New Escrow Account



Steps:                               Escrow Accounts -- Create New Account
To Create New Escrow
Account

     Click Escrow Accounts --
Create New Account to add a
new Escrow Account to the
Master account.
Note: The three fields below,
and or the tax ID or social
security number may be used to
search for an escrow account.
Reference: Use this field for
primary identification of the
Escrow Account. The client
decides how this field will be
used.
Short Name: Use this field to
create a short name for the
account. The cilent decides how
this field will be used. The field
is limited to 15 characters.
Item ID: Use this field to record
an item identification code or
number. The client decides how
this field will be used.
Group: If the Group option is
used, click the group number
from the dropdown box
Tax ID / SSN: TypeTax ID or
Social Security number, click
type from drop-down to the right




Escrow Manager                       Quick Reference Guide                                          10
                                                                            To Create New Escrow Account


Steps:                              Escrow Accounts -- Create New Account
To Create New Escrow
Account
Tax Status: Click tax status from
the dropdown.
Full Name 1: First and last
name of the primary person on
the Escrow Account.
Full Name 2: First and last name
of the secondary person on the
Escrow Account (optional)
Address, City, State, Zip,
Country, Address Type, Email
and Fax: Type information into
these fields or click from drop-
downs as appropriate.
Product: The product selected
controls the way an Escrow
Account is processed.
Open Date: Defaults to current
date but may be changed to no
more than 30 days past. If lease
account, Open Date should be
same as lease start date.
Expiration Date: May not be
required, depending on product
selected.
W-8 Expiration Date: W-8
expiration date for the sub-
account. W-8 expires every
three years.
Select Statement Media (if
appropriate, refer to next page)
                                        Click Submit.

Escrow Manager                      Quick Reference Guide                                          11
                                                                             To Create New Escrow Account



Steps:                               Escrow Accounts -- Create New Account
Create New Account
Example
New Escrow Account: Example
of completed screen.


The Red box on the left side
appears if there is no W-9 on file
for the account.




Escrow Manager                       Quick Reference Guide                                          12
                                                                      To Create New Escrow Account



Steps:                              Escrow Accounts -- View Summary
Confirm: Escrow Account
Summary

      Click Escrow Accounts --
View Summary to see the
Escrow Account Summary,
which shows the newly created
Escrow Account.
Click on the horizontal record in
the middle of the screen to go to
the Escrow Account Details
screen (next page).




Escrow Manager                      Quick Reference Guide                                    13
                                                                                        To Create New Escrow Account



Steps:                             Escrow Accounts -- Manage Accounts (Escrow Account Details)
Confirm: Escrow Account
Details
Escrow Account Details: After
a new account has been created,
click Escrow Accounts --
Manage Accounts to see this
screen.


The top and bottom thirds of the
screen are populated with
information from the newly
created account.




The middle third consists of
zeros because no funds have
been allocated to this Escrow
Account.




Escrow Manager                     Quick Reference Guide                                                       14
                                                                     To Create New Escrow Account



Steps:                          Master Accounts -- Account Summary
Confirm: Master Account
Summary



     Master Account
Summary: Click Master
Accounts -- Account
Summary. The newly created
Escrow Account appears on the
screen.




Escrow Manager                  Quick Reference Guide                                       15
                                                                       To Allocate Funds from Master to Escrow



Steps:                               Escrow Accounts -- View Summary
To Allocate Funds from
Master to Escrow

       Master Account
Summary: Click Escrow
Accounts -- View Summary
and click on the account you
want to transfer funds to from the
list of available Escrow Accounts




Escrow Manager                       Quick Reference Guide                                              16
                                                                        To Allocate Funds from Master to Escrow


Steps:                            Transactions -- Manage Transactions
Alternate Method to
Locate Desired Escrow
Account


      Click Transactions --
Manage Transactions and use
the Select Escrow Account
drop-down to specify a
Reference number, Short Name,
or Tax ID/SSN to locate the
Escrow Account to work with.
Item ID 1 used in this example.




Escrow Manager                    Quick Reference Guide                                                  17
                                                                           To Allocate Funds from Master to Escrow



Steps:                               Transactions -- Manage Transactions
To Allocate Funds from
Master to Escrow


      From list in Master
Account Transactions section
on the lower half of screen, click
Transaction to allocate


      Complete the Allocation
section describing the allocation
as Partial Deposit or Full
Deposit, and typing in the
amount from the transaction to
be credited. Click Submit.

In this example, $2000.00 will be
allocated from the Master
Account to the Escrow Account.

You may allocate transactions
posted to Escrow Master
Account within 30 days. Amount
allocated may not be greater
than amount of the transaction.

Allocation will automatically
default to date of the transaction
unless Effective Date is
changed. Effective date may not
be prior to the date the Escrow
Account was opened.




Escrow Manager                       Quick Reference Guide                                                  18
                                                                        To Allocate Funds from Master to Escrow



Steps:                            Transactions -- Manage Transactions
To Allocate Funds from
Master to Escrow


      Note:
•   Available Balances section,
    allocation shown completed,
    $2000.00 balance in Escrow
    Account 1 - TestAdd1.




Escrow Manager                    Quick Reference Guide                                                  19
                                                                           To Allocate Funds from Master to Escrow



Steps:                             Transactions -- View Pending Activity
Confirmation:
Transactions -- View
Pending Activity


     Click Transactions -- View
Pending Activity to see the
Pending Account Activity Screen.

Notes:
• Pending Allocation (1)
• $2000.00 difference between
   Current and Available Master
   Balances
• $2000.00 Available Escrow
   Balance
• Allocation record in center of
   screen.




Escrow Manager                     Quick Reference Guide                                                    20
                                                                         To Allocate Funds from Master to Escrow


Steps:                              Master Accounts -- Account Summary
Confirmation: Master
Accounts -- Account
Summary


      Notes:
•   Pending Allocations (1)
•   $2000.00 difference between
    Current and Available Master
    Balances
•   $2000.00 Available Escrow
    Balance




Escrow Manager                     Quick Reference Guide                                                  21
                                                                       To Allocate Funds from Master to Escrow



Steps:                          Escrow Accounts -- Escrow Account Summary
Confirmation: Escrow
Accounts -- View
Summary

      Note:
•   $2000.00 Available Escrow
    Balance




Escrow Manager                  Quick Reference Guide                                                   22
                                                                To Allocate Funds from Master to Escrow



Steps:                 Escrow Accounts -- Manage Accounts (Escrow Account Details)
Confirmation: Escrow
Accounts -- Manage
Accounts


     Note:
•   $2000.00 Balance




Escrow Manager         Quick Reference Guide                                                     23
                                                               To Transfer Funds



Steps:                        Transactions -- Transfer Funds
To Transfer Funds



     Click Transactions --
Transfer Funds.




Escrow Manager               Quick Reference Guide                         24
                                                                   To Transfer Funds



Steps:                            Transactions -- Transfer Funds
To Transfer Funds



      Choose the Type of
transfer -- Master to Escrow or
Escrow to Master -- from the
drop-down.




Escrow Manager                    Quick Reference Guide                        25
                                                                    To Transfer Funds



Steps:                             Transactions -- Transfer Funds
To Transfer Funds




•   Type a Description: Partial
    Balance Transfer or Full
    Balance Transfer, for
    example
•   Type an Amount in dollars
    and cents
•   Click Submit.




Escrow Manager                    Quick Reference Guide                         26
                                                                 To Transfer Funds



Steps:                          Transactions -- Transfer Funds
To Transfer Funds



     Notes:
•   Available Balance section
    shows Escrow Account
    Balance reduced from
    $2000.00 to $1900.00.
•   Transfer Complete
    notification appears.




Escrow Manager                  Quick Reference Guide                        27
                                                                           To Transfer Funds



Steps:                             Transactions -- View Pending Activity
Confirmation:
Transactions -- View
Pending Activity



    Click Transactions -- View
Pending Activity screen.

Notes:
• Pending Transfer 1
• Available Master Balance
   reflects the $100.00 Transfer
• Available Escrow Balance of
   $1900.00
• Transfer of $100.00.




Escrow Manager                     Quick Reference Guide                               28
                                                                                              To Transfer Funds



Steps:                          Escrow Accounts -- Manage Accounts (Escrow Account Details)
Confirmation: Escrow
Accounts -- Manage
Accounts



    Click Escrow Accounts --
Manage Accounts.

Note:
• Balance of $1900 after $100
   transfer from Escrow to
   Master.




Escrow Manager                  Quick Reference Guide                                                     29
                                                                          To Transfer Funds



Steps:                               Master Accounts -- Account Summary
Confirmation: Master
Accounts -- Account
Summary

    Click Master Accounts --
Account Summary.

Notes:
• Available Master Balance
   reflects the $100.00 Transfer
• Available Escrow Balance of
   $1900.00




Escrow Manager                     Quick Reference Guide                              30
                                                                    To Transfer Funds


Steps:                            Escrow Accounts -- View Summary
Confirmation: Escrow
Accounts -- View Summary

     Click Escrow Accounts --
View Summary.

Note:
• Available Escrow Balance of
   $1900.00




Escrow Manager                  Quick Reference Guide                           31
                                                                      To Remove and Show Unallocated Transactions


Steps:                                 Transactions -- Manage Transactions
To Remove Unallocated
Transactions
Important: If you select a
transaction that has pending
allocations, by clicking on it and
then clicking Remove Selected
Transactions, it cannot be
removed (not shown).

The message shown will appear.




Escrow Manager                       Quick Reference Guide                                                  32
                                                                         To Remove and Show Unallocated Transactions



Steps:                                    Transactions -- Manage Transactions
To Remove Unallocated
Transactions
Transactions shown in the
Transactions -- Manage
Transactions screen are available
for allocation, showing the original
transaction amount and the
Unallocated amount.

If desired, it's possible to remove a
transaction from the list. This can
reduce clutter.




Escrow Manager                          Quick Reference Guide                                                  33
                                                                      To Remove and Show Unallocated Transactions



Steps:                                 Transactions -- Manage Transactions
To Remove Unallocated
Transactions


    Click on the transaction to be
removed



Click Remove Selected
Transaction




Escrow Manager                       Quick Reference Guide                                                  34
                                                                 To Remove and Show Unallocated Transactions



Steps:                            Transactions -- Manage Transactions
To Remove Unallocated
Transactions


      This is the screen that
appears. See the Removed
Transaction; the Hide Removed
Transactions button becomes
available.




Escrow Manager                  Quick Reference Guide                                                  35
                                                                     To Remove and Show Unallocated Transactions



Steps:                                Transactions -- Manage Transactions
To Restore Removed
Transactions


       To restore a removed
transaction, click the checkbox and
click restore button in Removed
Transactions section of screen




Escrow Manager                    Quick Reference Guide                                                    36
                                                                  To Remove and Show Unallocated Transactions


Steps:                             Transactions -- Manage Transactions
To Restore Removed
Transactions


      The transaction has been
restored.




Escrow Manager                   Quick Reference Guide                                                  37
                                                                               Activity Reports


Steps:                                   Master Accounts -- Activity Reports
Activity Reports


       Click Master Accounts --
Activity Reports to view the
activity entered during prior day's
processing.

Activity reports are an audit report
showing activity. Activity reports
can be printed or saved.

Escrow Manager provides Activity
reports in PDF format; Adobe
Reader opens them.

Escrow Manager maintains a 60-
day record of activity reports.




Escrow Manager                         Quick Reference Guide                             38
                                                                               Activity Reports



Steps:                                   Master Accounts -- Activity Reports
Activity Reports
At right is a sample Activity Report
for a New Account for which there
is no significant activity.

The next page shows a sample
report with additional activity.




Escrow Manager                         Quick Reference Guide                             39
                                                                               Activity Reports



Steps:                                   Master Accounts -- Activity Reports
Activity Reports
At right is a sample Activity Report
for an account showing additional
activity.




Escrow Manager                         Quick Reference Guide                             40
                                                                              Processing Alerts



Steps:                                 Master Accounts -- Processing Alerts
Processing Alerts
Click Master Accounts --
Processing Alerts to see Alerts
affecting the Master Account.

Escrow Manager defaults to the
most recent processing date.

Click the Processing Date drop-
down to see Alerts for a different
date

Escrow Manager maintains a 60-
day record of Processing Alerts.

Examples of Processing Alerts:
1. Sub Account balance is zero
   but the sub account is not
   closed.
2. No W9 on file.
3. Sub account has a negative
   balance.




Escrow Manager                       Quick Reference Guide                               41
                                                                         Statements



Steps:                                   Master Accounts -- Statements
Statements


     Click Master Accounts --
Statements to Statements for the
Master Account.

Escrow Manager provides
statements in PDF format; Adobe
Reader opens them.

Escrow Manager maintains a 90-
day record of statements.

Click on the Open Statement link
next to the date of interest to open
a statement.

The statements shown in Escrow
Manager do not have the same
appearance as statements that
Fifth Third mails out.

The next page shows a sample
statement.




Escrow Manager                         Quick Reference Guide                  42
                                                                  Statements



Steps:                            Master Accounts -- Statements
Statements
At right is a sample Master
Account statement.

Use the Find function to search
for statements by account
number, account name, Social
Security number or other search
terms.

Statements provide account
names, deposits, withdrawals,
interest YTD, withholding YTD
and current balance of the
account.




Escrow Manager                    Quick Reference Guide                43
                                                                  Statements




Steps:                            Escrow Accounts -- Statements
Statements
At right is a sample Escrow
Account statement.

Use the Find function to search
for statements by account
number, account name, Social
Security number or other search
terms.

Statements provide account
names, deposits, withdrawals,
interest YTD, withholding YTD
and current balance of the
account.

This sample shows statement
information for a single escrow
account.




Escrow Manager                    Quick Reference Guide                44

								
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