Escrow Definition

The Escrow Definition (ESCROW) page is used to define all instances of escrow that will be tracked with an Escrow ID. Each record on this page has a unique Escrow ID by Department. The system validates any value entered on a transaction header Escrow ID field against this page.

Field Name	Required?	Field Description
Department	Required	Each Escrow ID is unique to a department.
Escrow ID	Required	A unique ID used to define an instance of escrow in the system. The ID can have a length of up to 20.
Escrow Name	Required	A long name that can be displayed in reports to give information about an Escrow ID.
Escrow Short Name	Required	A short name that can be displayed in reports to give information about an Escrow ID when space is limited.
Escrow Description	Required	A description that can be displayed in reports to give information about an Escrow ID.
Escrow Extended Description	Required	A long description often used to capture details about the escrow.
Escrow Type	Optional	A rollup of Escrow IDs that can be used for aggregation in reporting.
Escrow Agent	Required	A vendor/customer code that represents the holder of the escrow.
Escrow BSA	Optional	The Balance Sheet Account (BSA) defined for an escrow instance. Please note that this BSA code is to support the Escrow Balance transition. There are no system edits to ensure this is the BSA always used on transactions with the Escrow ID. If all escrow is recorded under a single BSA, this field and the link will not likely be used, as the transition will show the balance of all escrow instances.
Escrow SBSA	Optional	The Sub Balance Sheet Account (SBSA) defined for an escrow instance. If defined to the Escrow ID, the SBSA will also be used in the Escrow Balance transition.
Completed	Optional	An indication that the escrow funds have all been disbursed and/or returned to prevent the Escrow ID from being used on transactions.
Completed Date	Conditionally Required	The date that all escrow activity was completed for reporting.