An automatic, web-based, integrated method and system for processing financial details of a real estate settlement or other similar transaction. The system incorporates modular functionality to avoid duplicate entry of data. The design philosophy is such that anticipated actions are entered into the system. Since the system knows what is expected, by monitoring actual transactions and comparing them to the anticipated transactions, real-time identification of exceptional situations is possible. This real time identification of a problem allows corrections to quickly be made to prevent financial losses, fines, or other penalties. The system is adapted to seamlessly interact with bank software and systems, for example, existing positive pay banking systems as well as with a user' s financial or other similar application software. The system provides exception reports on a periodic (e.g., daily) basis to management and operations personnel.