Overview
HRS Escheat in Resware is a process that includes generating a report that can be used to import data into HRS Pro and creates disbursements to each state’s custodian. Escheatment is the process of identifying funds that are considered abandoned and sending them to the state to hold. Each state has a different period after which funds are considered unclaimed or abandoned. Timeframes can be modified in the State Escheat table of the Resware database.
| Website: | https://www.wagers.net |
| Time/Cost: | The Standard edition is free. The Enterprise edition is $295.00 for 3 users licenses. Additional users are $95.00 per license. |
Begin here: HRS Pro software is needed to create a NAUPA file from the data in Resware to submit to the state’s unclaimed property office. Visit hrspro.unclaimedproperty.com for further information or to purchase the software.
Then: Complete the following steps to setup in Resware.
Version History
| Version | Date | ID | Description |
| 09/24/2016 |
Information and screenshots created | ||
| 8.22 | 02/08/2017 | 13744 | Added report export in XLS format using Show Data. |
| 9.6.53 9.7.32 9.8.8 | 03/08/2019 03/01/2019 03/01/2019 | 14897 | Added an office option to escheat by transactee address instead of the primary property address. |
Office Option
Resware defaults a search for escheatable items based on the file’s primary property state. To search based on the transactee’s state, enable the office option for HRS Escheat: Report Based on Transactee’s State.
NOTE: If the office option is enabled in a specific selected ledger’s office but not enabled in other selected ledger’s office, then Resware will ask which method to use. Also, if an escheatable item does not have a transactee address, then Resware will default to using the property’s state.
Admin/General Setup/Offices/Edit/Accounting
- Check to enable the HRS Escheat: Report Based on Transactee’s State office option when escheating based on the transactee’s state rather than the primary property’s state.
Internal User Role
Admin/Internal Users/Roles
- In the General Access Roles area, check the box to enable Ledgers: Escheat.
- In the Ledger-Specific Roles area:
- Select the ledger where access is needed.
- Check the box to enable Escheat.
- Repeat for each ledger as needed.
Add a New Partner Type
A new partner type can be added to keep escheatment partners separate from other partners. If there is another partner type that can be utilized, this step can be skipped.
Admin/Partner-Related/Partner Types
- Click Add.
- Enter a Name, such as Escheat.
- The Max Per File will default to 1.
- The Locale Restriction will default to None.
- Select any of the other options as needed.
- Click Save, Close.
Add a New Partner
Admin/Partners
- Click New.
- Enter a Company Name. This is to whom the state says the unclaimed property funds should be payable.
- Click Add in the Partner Types area and add the Escheat partner type.
- Enter any other pertinent information, such as the address. Note: An address is typically needed for disbursement.
- Optionally, in the Documents area, click Add to store any state-specific documents or forms.
- Click Save.
Reporting Unclaimed Funds
In Resware, there are two methods to generate escheat reports. The HRS File method generates an SDF file, which, as of June 2014, support and information are no longer provided by HRS PRO.
Note: This method is scheduled to be deprecated in Resware. Show Data is the current and recommended method. This method, available in version 8.22, generates a grid display with the ability to show and hide columns needed, including spare columns available in the event that HRS Pro’s import template adds columns in a later version. The grid display can then be viewed as a report and exported to excel, which can be used to import into HRS Pro.
Accounting/HRS Escheat
- Select a State.
- Select the Ledger(s) from which the funds should be located.
- Multiple ledgers can be selected at one time using Ctrl-click or Shift-click.
- Click Search.
- Click Show Data to return a list of the search results on a new HRS Data panel.
- Right-click and Show Columns to select and unselect columns as needed.
- Click View as Report.
- Click Export to Excel/Data Dump.
- It may be necessary to re-arrange the columns in order to match the HRS import template.
- If needed, see the Resware help for information on how to convert values to numbers.
- Save the XLS file to the desktop or a folder for importing to HRS Pro.
Escheating Funds
After the reports are generated and imported into HRS Pro, verify for accuracy, then the funds can be disbursed to the state either as a check or as a wire. This process will place a stop payment on each check and issue pending disbursements to the selected escheat partner.
Creating new disbursements
Accounting/HRS Escheat
- Select the same State for which the report was generated from in the above step.
- Select the same Ledger(s) for which the report was generated from in the above step.
- Click Search.
- In the Remit To area, click Search to locate the partner created in the above step.
- This partner will be the payee on the new disbursements.
- If no partner is selected, the funds will be disbursed to the same transactee that was previously paid (not recommended).
- Select whether to disburse these funds as a Check or a Wire.
- Click Remit All if all of the funds should be remitted to the escheat partner.
- If only some of the funds should be remitted to the escheat partner, select those funds by using Ctrl-click or Shift-click. When the correct items are selected, click Remit Selected.
- Resware will confirm that a stop payment should be placed on each entry.
- If Yes is selected, this will happen, and all of the selected items will be re-disbursed to the Remit To partner using the method chosen.
- This partner will automatically be added to the selected files.
- If No is selected, this process will be canceled, stop payments will not be placed, and new disbursements will not be created.
- If Yes is selected, this will happen, and all of the selected items will be re-disbursed to the Remit To partner using the method chosen.
- If there are any errors in this process, the user will be notified and will be instructed to disburse these funds manually.
Example of a file
File/Settlement/Postings
- Each item that was escheated will show as Stopped Payment.
- A new disbursement to the escheatment partner will be created for each stopped payment.
Disbursing escheated funds
Accounting/Print Checks
- Select the Office, if not defaulted to the desired office.
- Select the Ledger.
- Selecting All will display disbursements for all ledgers, but will cut ledger-specific checks.
- Select the Transactee as the escheat partner from the drop-down menu.
- Highlight all of the disbursements to this transactee and click Combine, Print Selected.
- This process will combine all of the disbursements onto one check per ledger, rather than printing individual checks per item.
Accounting/Review Outgoing Wires
- Select the Office, if not defaulted to the desired office.
- Select the Ledger.
- Selecting All will display disbursements for all ledgers, but will combine ledger-specific wires.
- Sort by the Transactee column to organize the escheat partner items together.
- Highlight all of the disbursements to this transactee and click Combine.
- This process will combine all of the disbursements onto one wire per ledger, rather than creating individual wires per item.
