Bank Account Management

Our accounting department provides all banking, funding, accounting and financial reporting. Our accounting team ensures that claims funding is in compliance with the client’s specifications, and prepares and reconciles reporting to make certain that all financial activity is accurately accounted for and reported in a timely fashion.

The financial services team provides the following services:

  • Establish dedicated bank account for payment of claims and expenses
  • Setup of standard funding schedule
  • Establish on-line access with major banking partners
  • Perform electronic funds transfer including ACH and wire transfers
  • Generate a daily positive pay confirmation of all checks issued
  • Provide monthly bank reconciliation and account record keeping
  • Conduct electronic retrieval of cancelled checks
  • Provide monthly reporting of financial activity