Resident Trust Funds: Banking for Resident Allowance Monies
Resident Trust Funds
Mini-Banking Module
- Monitor monthly allowances
- Generate statements and ledgers
- Track when accounts reach the maximum legally allowable limit
Direct Deposits & Receipts
- Deduct allowance money directly from direct deposits
- Multiple methods for handling deposits to trust fund accounts
Online Receipts
- Send confirmations by email
- Print deposits or withdrawal slips
Withdrawals/Reports/Charges
- Charge for services
- Deduct allowances from cash receipts as they’re deposited
- Make withdrawals directly from a resident trust fund
Calculate & Allocate Interest
- Compute interest on resident accounts
- Choose from several different formulas to calculate interest
- Post interest to individual resident accounts from commercial banks
Download Specification Sheet
Benefits
- Corporate Compliance
- Manage Allowances
- Reduce Manual Processing
- Integrated with Receivables
- Separate Handling of Funds
Features
- Interest Allocations
- Burial Funds
- Check Printing
- Direct Deposit
- Electronic Banking
- Exchange / Transfer Functions
- Handle Excess Funds
- Online Receipts
- Saving Accounts
- Trust Fund Limits
Integrated With
- ADT / Census Controls Ancillary Charges
- Cash Receipts / Cashier
- Commercial Banks
- HIPAA Security
- Resident A / R & Billing
Reportwriters
- ADL Reportwriter
- Crystal Reports
- Fast Reports
- SQL Reporting Services