Turnkey Pay: a simpler way to manage estate account payments and reconciliation

Managing estate accounts shouldn’t mean spending your day moving between case management software and online banking. But creating payments, re-entering information, downloading statements and reconciling transactions can all add unnecessary admin to an already busy insolvency workload.

At the same time, efficiency can’t come at the expense of control. Your team still needs to maintain accurate case records, follow the right approval processes and keep a clear record of payment activity.

This is where Turnkey Pay can make a difference.

Designed to reduce the manual steps involved in everyday case banking, Turnkey Pay connects banking with Turnkey IPS, allowing insolvency teams to create payments, bring in bank transaction data and reconcile estate accounts within their existing case management workflow.

The result is a more connected process from payment creation through to reconciliation, with less duplication, fewer manual steps and the controls your firm needs around estate funds.

Here’s how Turnkey Pay can make everyday case banking simpler.

Spend less time switching systems

Clear financial oversight is essential for any insolvency practice. The frustration is often in the admin around it: entering the same information twice, downloading bank statements, checking transactions and manually updating case records. Across multiple estate accounts or banking providers, those small tasks soon add up, eating into valuable time better spent elsewhere.

Turnkey Pay connects banking with the cases you manage in Turnkey IPS. Instead of jumping between separate systems, you can keep more of the payment and reconciliation process in one familiar place. That means less duplication, a clearer view of activity and a more consistent way of working.

For your people managing and administering insolvency cases, this can mean:

1. Spending less time re-keying payment information.

2. Seeing bank activity reflected more closely in the case record.

3. Making bank reconciliation quicker and less reliant on manual processing.

4. Following a consistent process, even when cases use different banks.

5. Staying in the system you know well, with less disruption to your working day.

Take a payment from creation to reconciliation in one workflow

With Turnkey Pay, the process starts where the case already lives. You create the payment in Turnkey IPS, follow your firm’s existing approval controls and send the approved instruction through the integrated banking connection. Statement and transaction data can then be brought back into Turnkey IPS and matched to the case record.

So, rather than piecing the process together across different platforms, you can:

1. Create the payment against the relevant case.

2. Use the approvals and controls your firm already has in place.

3. Send the approved payment through the secure banking connection.

4. Bring statement and transaction data back into Turnkey IPS.

5. Reconcile the bank activity against the case record.

The benefit is a smoother working day: fewer hand-offs, less duplicate entry and a clearer route from payment creation to reconciliation.

All without giving up the controls your firm relies on.

Work faster without compromising control

Making the payment process faster doesn’t mean compromising on control. Turnkey Pay uses the security roles, permissions and workflow controls already available in Turnkey IPS, so your firm can decide who creates, approves and releases payments.

Only appropriately authorised users can connect accounts, and the connection must also be authenticated directly with the bank.

You also retain a clear record of what happened. Every Turnkey Pay payment receives a unique ID and follows the usual Turnkey IPS audit trail, recording when it was created, approved and sent, who completed each action and when.

By removing customer access to the TPS Workflow configuration screens in the Administration area, the configured process gains an additional layer of protection.

Securely connect the banks you already use

Turnkey Pay connects securely through Open Banking without storing your online banking credentials. Industry-standard security controls and encryption protect the data, helping your team work efficiently with confidence.

It supports most UK banks commonly used by insolvency practices. As connectivity depends on each bank’s Open Banking capabilities, there may be occasional exceptions, such as a bank not supporting bulk payments. Turnkey works with Open Banking technology partner, Yapily, and coverage is expected to keep expanding across the banks customers use.

Get up and running quickly

Turnkey Pay is designed to be straightforward. Implementation typically takes around one day, depending on the complexity of your TPS workflows.

For users, there is very little new to learn. The add-on sits inside Turnkey IPS and builds on familiar functionality, so teams quickly experience the benefits of Turnkey Pay.

Accounts can be connected individually from the case bank account record, while system administrators can also bulk connect accounts held with the same bank where the account number and sort code match an IPS case bank record. And if your firm changes bank in future, you can connect accounts with the new provider without changing your Turnkey Pay configuration, as long as the bank supports Open Banking connectivity.

Make everyday case banking feel less like admin

Turnkey Pay brings the everyday banking work around an insolvency case closer to the rest of the case. For you and your team, that means less time moving data between systems, fewer manual hand-offs and a clearer, more consistent payment and reconciliation process—all within the controlled and secure Turnkey IPS environment.

If you would like to spend less time on repetitive banking administration and more time progressing cases, explore Turnkey Pay or book a demonstration with the Turnkey team.

Top 5 frequently asked questions about Turnkey Pay

1. Does Turnkey Pay work with every UK bank?

It works with most UK banks commonly used by insolvency practices. Support depends on each bank’s Open Banking capabilities, so some services—such as bulk payments—may not be available in every case. We can review on a case by case basis.

2. Can firms trial Turnkey Pay before committing?

A trial is not currently available, but demonstration and product guides will help you explore the key features and decide whether Turnkey Pay fits the way your firm works.

3. Who can connect estate bank accounts?

Only users nominated and authorised by your firm can connect accounts. That can include system administrators and users with permission to access the Connect Account function. They must also authenticate directly with the bank.

4. Can payment duties be separated?

Yes. You can use the existing Turnkey IPS roles, permissions and workflow controls to keep responsibilities separate and decide who can create, approve and release payments.

5. Is every payment recorded?

Yes. Every payment receives a unique ID and is recorded in the familiar Turnkey IPS audit trail, including the key actions, users and timestamps. That gives you a clear record when you need to review activity.

See Turnkey Pay in action today

Find out more, book a demo or watch our Next Generation Banking webinar visit Turnkey Pay.

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