Representative Payee
Representative Payee, also known as Custodial Checking, gives an agency the ability to manage clients funds including:
- track funds received from social security and other agencies
- pay monthly bills for rent, utilities and other purposes
- provide a monthly statement of funds
- utilizes a single bank checking account to hold all funds
for simplicity of reconciliation
Besides it major custodial functions, Representative Payee has a 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 and posted into accounts payable for payment.
Full financial reporting is provided including both individual client and consolidating financial position and financial activity reports.
If interest or fees are applied to balances, the AccuFund Allocations module can be utilized to calculate the expenses and income.
For a more information, including screen shoots and report examples,
view data sheet
For a detailed demonstration of the Representative Payee/Custodial Checking system please contact AccuFund or your local reseller.
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