Auditing and reconciling custodial accounts

A computer-implemented method for auditing a plurality of custodial 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:

• deriving, with one or more processors, custodial account balance data relating to said custodial accounts from customer account transaction data relating to said customer accounts;
• comparing, with said one or more processors, said derived custodial account balance data against custodial account balance data received from said depository institutions;
• identifying discrepancies between said received custodial account balance data and said derived custodial account balance data;
• and
• displaying said discrepancies.

A computer-implemented method for reconciling a balance of funds in a plurality of custodial 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, expected balance of funds data for said custodial accounts from said customer account transaction data;
• receiving balance of funds data for said custodial accounts from said depository institutions;
• comparing, with said one or more processors, said expected balance of funds data for said custodial accounts against said received balance of funds data;
• identifying discrepancies between said expected balance of funds data and said received balance of funds data;
• identifying a prospective write-off;
• displaying said prospective write-off;
• and
• prompting said custodial agent to indicate whether said custodial agent accepts said prospective write-off.