AccuFund Representative Payee
The AccuFund Representative Payee module is a stand-alone application designed for use by social service agencies and government agencies that serve as fiscal guardians for clients or patients who are unable to manage their finances (e.g. the elderly, mentally handicapped and drug-dependent). Representative Payee enables tremendous time-savings for these organizations because it relieves them of the detail-intensive burden of coordinating accounting for individual clients.
Also known as custodial checking and trustee accounting, Representative Payee provides these organizations with a robust, flexible tool for tracking funds and paying bills for a large number of clients. Client checking accounts are administered in one location and can be set up simply as either individual accounts or as a single consolidated account with virtual accounts for each client. The later allows the organization to minimize the costs of maintaining numerous bank accounts while increasing interest-earning power and maximizing the funds it has been charged with managing. A single, consolidated account is also easier to manage and helps the organization ensure that a client’s bills get paid even if the client’s incoming payments (e.g. Social Security funds) have not yet arrived if that is your organization’s policy.