Representative Payee is a specialized accounting system for organizations managing the funds of individuals not able to manage their own funds. Representative Payee, also known as Custodial Checking or Trustee Accounting gives a fiduciary agent, frequently a social service agency or a government entity, the software it needs to manage and account for clients' funds.
View the AccuFund Representative Payee Datasheet.
For the Trustee or custodian, the software:
- Combines individual accounts into a one or more combined accounts at a bank.
- Each client's balances are managed and can be reported separately on a client statement.
- A revenue and expense and a balance sheet can be generated for each client showing all of their activity and current balances.
- Control is provided to stop from over-spending client's accounts.
- Setup recurring cash receipts for monthly support payments to reduce entry.
AccuFund Representative Payee comes in a standard and professional edition for larger organizations that need to control access to client/patient accounts by region or facility.
Several modules may be added to the core system:
- Client Accounting adds addition demographic tracking and reporting capabilities.
- Fixed Assets adds the ability to track and inventory assets purchased for clients.
- Purchasing allows the setup of encumbrances to reserve funds for special purposes and limit spending of available cash balances.
For trustees or custodial managers, the AccuFund Representative Payee system provides a complete solution for any organization managing more than just a few custodial/trust accounts.
Learn how one AccuFund Representative Payee client maintained quality service while doubling their client base in this Representative Payee Case Study.
Register to join us for a LIVE AccuFund Representative Payee webinar.