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

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