Effective immediately, there is a new process for issuing trust fund deposit receipts.
Issuing Receipts (during normal business hours)
When funds are received by the trust fund custodian:
- Record the deposit in RFMS.
- Print the Deposit Receipt from RFMS immediately after posting the deposit and sign the receipt. Print another receipt and provide it to patient/family member, if applicable.
- For the state of Virginia only, the state requires the use of a separate pre-numbered receipt book. Issue the white pre-numbered receipt and attach a copy to the corresponding RFMS Deposit Receipt.
- Retain RFMS Deposit Receipts in your monthly Resident Trust folder.
- The RFMS Deposit Receipt now has a pre-numbered (sequential) receipt number that begins with the letter “D” (e.g., D000001). It is no longer necessary to enter a “D” when entering the record number. You will continue to enter a date followed by the transaction number for the day (e.g., 0815151 would be for the first deposit transaction recorded on 08/15/15 and 08151599 would be for the ninety-ninth transaction recorded on 8/15/15).
Issuing Receipts (outside normal business hours)
When receipts are issued by someone other than the trust fund custodian:
- Using a designated Resident Trust deposit receipt book, issue the white pre-numbered receipt and sign it.
- Keep the white signed receipts in a folder and provide folder to the trust fund custodian on the next business day.
- On the next business day, the trust fund custodian records deposits into RFMS for each receipt contained in the folder, prints an RFMS Deposit Receipt, and attaches the white receipt to the corresponding RFMS Deposit Receipt.
- Retain RFMS Deposit Receipts with the attached pre-numbered receipts in your monthly Resident Trust folder.
Questions?
Contact your business office consultant or director of business office operations
InnerCircle 