Escrow Compliance Accounting Software

Our Escrow Compliance Accounting Software

​

Elite Software was initially designed and developed in 2004 with the Illinois Department of Financial and Professional Regulation "IDFPR." Elite Software today covers 100% of all requirements for all U.S., Canada, Australia, and the UK states to ensure state compliance. In 2012, Elite Software was asked by multiple states to design and develop an online version because customers claimed they had lost all their trusting accounting records from a hard drive crash. They also wanted accounting software to update new state requirements from any state so all users could be updated simultaneously. So, in 2012, the software was developed into online software that could automatically back up all user accounts every day and, at the same time, cover all state requirements for holding escrow and security deposits in the U.S. and Canada. In 2020, a completely new rewrite was developed and has unique features only offered by our software, and now also covers Australia, the UK, and many other countries worldwide. The rewrite was enhanced with many additional options for real estate property management with features, like being able to process every rental's rent for every owner, making a simple task of transferring all the rent and deducting management fees and the remaining rent to the owner's cards, and categorizing the money under management fees, and the remainder to the reserve account all at one time with one click of a button. The managing broker or an owner can pay vendors and disperse the money as needed. The software was also designed to keep real estate and property managing brokers in state compliance. It covers attorneys, title companies, escrow companies, mortgage companies, banks, and anyone holding escrow to ensure they are all compliant in-state. Elite Software is one of the only escrow trust accounting software offered to generate all the required reports to ensure you're in state compliance. Plus, it's the only software with individual features like a Folio ID and multiple deposit and withdrawal reports that are required by many states, and it's the only software that can generate all the reports needed for real estate sales and property management.