Effective immediately, there is a new process for recording and logging resident trust fund disbursements. The new process eliminates the Resident Trust Fund Cash and Check Disbursement Logs.
Recording Disbursements (during normal business hours)
When funds are disbursed by the trust fund custodian:
- Record disbursement in RFMS at the time the transaction occurs.
- Print a Withdrawal Receipt from RFMS immediately after posting the disbursement (which replaces the process of recording transactions on the disbursement log), using the Print Receipt button that was added to the withdrawal record data entry grid.
- The authorized person requesting the disbursement must sign the Withdrawal Receipt (which replaces the process of putting signature on disbursement log).
- For the state of Virginia only, the state requires the use of a pre-numbered receipt book and disbursement logs. Obtain signature on the white pre-numbered receipt and attach it to the corresponding RFMS Withdrawal Receipt (it is not necessary to obtain a signature on the RFMS Withdrawal Receipt). Follow existing procedures for recording the disbursement on the disbursement log.
- Retain signed RFMS Withdrawal Receipts, or RFMS Withdrawal Receipts with attached signed pre-numbered receipts, in your monthly Resident Trust folder.
The RFMS Withdrawal Receipt now has a pre-numbered (sequential) receipt number that begins with the letter “W” (e.g., W000001, W000002, etc.). It is no longer necessary to enter a “W” for disbursements when entering the Record Number. You will continue to enter a date followed by the transaction number for the day (e.g., 0815151 would represent the first transaction recorded on 08/15/15 and 08151599 would be for the ninety-ninth transaction recorded on 8/15/15).
Recording Disbursements (outside normal business hours)
When funds are disbursed by someone other than the trust fund custodian:
- Using a designated Resident Trust disbursement receipt book, issue the white pre-numbered receipt and obtain signature of authorized person requesting the disbursement.
- 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 disbursements into RFMS for each signed receipt, prints an RFMS Withdrawal Receipt, and attaches the white signed receipt to the corresponding RFMS Withdrawal Receipt (you do not have to obtain signature on the printed RFMS Withdrawal Receipt).
- For the state of Virginia only, follow existing procedures for recording the disbursements on the disbursement log.
- Retain RFMS Withdrawal Receipts with the attached signed pre-numbered receipts in your monthly Resident Trust folder.
Recurring Transactions
Patients who authorize payment of recurring transactions will continue to do so by signing the Recurring Authorizations form. When the RFMS Withdrawal Receipt is printed, the LivingCenter must note “authorization on file” on the receipt’s signature line.
Source Codes
The company is working with NDC to implement standardized source codes so that all LivingCenters will have access to and utilize the same codes. LivingCenters will be notified of the implementation date, once a date is established.
Effective immediately:
- Do NOT add any new source codes.
- Source code “Miscellaneous – 99” cannot be used unless you get approval from your business office consultant.
When the Print Receipt option is selected in RFMS, a Notes box appears that can be used for recording additional specific details about the disbursement.
Questions?
Contact your business office consultant or director of business office operations
InnerCircle 