Patent ID: 8527409

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