Patent ID: 7640199

Claim:
A computer-implemented method for reconciling a custodial account held at a depository institution by a custodial agent on behalf of a plurality of individuals, wherein funds in said custodial account are deposited in the aggregate from customer accounts belonging to said plurality of individuals, comprising: receiving customer account transaction data relating to said customer accounts; a processor deriving custodial account balance data relating to said custodial account from said customer account transaction data and storing said derived custodial account balance data; receiving custodial account balance data from said depository institution; said processor comparing said received custodial account balance data from said depository institution against said derived custodial account balance data; identifying discrepancies between said received custodial account balance data from said depository institution and said derived custodial account balance data; identifying a prospective write-off in the amount of one or more of said discrepancies; displaying said prospective write-off to said custodial agent; and prompting said custodial agent to indicate whether said custodial agent accepts the prospective write-off.