Escrow Accounting
We need to create and maintain Escrow Accounts for Cash and Bond Deposits related to Criminal and Civil Court Cases. These accounts are placed in Banks and managed (Post Interest) until the case has been adjudicated, terms of the escrow have been satisfied, or the amount in escrow is forfeited. If the case is satisfied, the money if refunded to the Defendant (Customer), if forfeited it goes to the Court.
Has anyone done this in PeopleSoft? We have Billing, AR, AP, Cash Management, GL, Grants, Contracts, Projects, PO, ePro, and Inventory modules.
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