Streamlining Charge-Offs and Recoveries in ODP Manager

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Even after a deposit account is closed and charged off, your financial institution still needs a reliable way to track and report on that data. To make this process seamless, ODP Manager includes a dedicated manual workflow that allows users to monitor charge-off item amounts and recoveries with precision.

Managing these items shouldn’t feel like a chore. At the individual account level, users can easily create a charge-off item by entering the specific principal and fee amounts.

  • Context Matters: You can add applicable notes the moment an item is created.
  • Ongoing History: Notes can be updated over time to provide a clear audit trail of the account’s status.
  • Dynamic Balances: As recoveries are received and entered into the system, the balance of the charge-off item is automatically reduced.
    Comprehensive Reporting & Exporting

Visibility is key to effective management. ODP Manager provides a summary page where you can view all charge-off items within any specified timeframe.
This high-level view doesn’t skimp on the details. The summary displays:

  • Branch and Account Name
  • Charge-off Date
  • Original Principal and Fees
  • Total Recoveries and Remaining Balance

Need to take your data to a meeting or perform further analysis? The entire summary can be exported to PDF or Excel with just a few clicks.

If you have questions about setting up your charge-off items or want to dive deeper into the reporting features, the Strunk Support team is here to help. Reach out to us at support@strunkaccess.com for more details.

An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.