The Representative Payee module (formerly Custodial Checking) by AccuFund gives an agency the ability to manage clients funds, whether you have 100 clients or 2,000 clients
Major features include:
– utilizes one or more comingled bank accounts to hold the funds for simplicity of reconciliation and reduction of bank fees
– track funds received from social security and other agencies
– pay monthly bills for rent, utilities and other purposes
– provide a monthly statement of funds
Besides it major custodial functions, Representative Payee has features that will benefit the trustee by simplifying management of the funds and reducing the effort to maintain monthly activity. Recurring items such as rent can be set up as a recurring item in the system and posted into accounts payable for payment as can recurring income items such as monthly Social Security payments.
Integrated or Stand-Alone
Representative Payee may be used as a stand-alone system, or it may be integrated with the AccuFund Accounting Suite to provide a full accounting solution for your organization. Even when used as a stand-alone system Representative Payee includes cash receipts, bank reconciliation, general ledger and financial reporting tools giving an agency a complete system to manage trustee accounts.