For those instances where the Title Company is holding the
Earnest Money Deposit, there is an easy way to enter the deposit in
TitleExpress.
You can enter the deposit in the Escrow Accounting section
of TitleExpress prior to updating your order to Escrow Accounting. This allows
for the deposit to be cleared with the reconciliation and also allows the
deposit to be easily disbursed, in the event it needs to be returned.
The first step is to click on the Escrow Accounting button
from the Main Menu. Next, click on the Check Writing button. In the Select tab,
enter the Escrow File # where you need to post the deposit. Be certain you have
the correct Escrow Account # entered here as well. Click on the Edit tab. Click
on the Add button to the right of the Deposits row near the bottom of the
screen to create a manual deposit entry. Once the blank deposit entry is added
in the Deposit section at the top of your screen, you can double click on the
entry. Click the Edit button and add the appropriate information about your
Deposit, such as Date, Status, Rcvd from, Amount and Description. Click OK.
This takes care of posting your deposit to your Escrow
Account. You will then need to enter the deposit in your TitleExpress Order as
Held By “E” for Escrow Agent. When the HUD-1 is transferred to the Disb tab and
then updated to Escrow Accounting, the
deposit entry does not update to the Escrow Account and, therefore, does not
void or duplicate your original manual entry.
