TRACKER Unclaimed Property Management
Unclaimed Property Management Software
ReconNET TRACKER is a comprehensive, easy to use system that helps you manage and report unclaimed property to reduce operational costs and eliminate the penalties and other liabilities associated with non-compliance regulations.
When you hold unclaimed property such as uncashed checks, unclaimed dividends, benefits, account balances or security deposits, you are obligated by law to return then to the rightful owner in a defined procedure called due diligence. Due diligence regulations vary from state to state - and failure to comply with assessments by state auditors can result in steep penalties.
ReconNET TRACKER enables you to quickly realize the benefits of automated reconciliation and cash management while increasing the level of control and visibility into your unclaimed property and escheatment process. TRACKER unclaimed property software consolidates all current state requirements and report formats into one central database, reducing the time and effort involved in the management and reporting of unclaimed property and protecting your organization from costly non-compliance penalties.
Ensuring Compliance with State Requirements
TRACKER’s database is updated several times a year, ensuring that you have access to the most current state-specific deadlines, requirements and procedures related to managing unclaimed property. Integrating seamlessly with Trintech’s ReconNET reconciliation software, TRACKER allows you to import directly from ReconNET, accounts payable, payroll or other financial systems.
- Consolidate unclaimed property records from ReconNET or other financial systems
- Generate search letters to meet defined due diligence requirements
- View state-specific requirements for abandoned property reporting
- Generate state reports in pre-approved formats (printed and electronic)
- Generate valuable internal reports, including transaction logs
- Forecast unclaimed property liability up to six years in advance
- Reconcile disbursement items that have been marked for escheatment
- Gain better visibility into your funds and the ability to leverage your cash in unclaimed status