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What is required to be included in the monthly Trust Account Reconciliation?
The reconcilement must include a comparison between the bank balance and the sum of all clients’ escrow balances. A report which identifies each client account and the escrow balance must be available and provided upon request. Any client escrow accounts with negative balances must be excluded. The reconciliation must contain the balance in each debtor's account, the balance from the bank statement, the check number and amount of each outstanding check, the date and amount of deposits not yet credited by the bank, the reconciled bank balance, the balance from the checkbook, and a detailed breakdown of any differences. The reconcilement may be completed electronically.