Skilled Nursing Facilities

Contents

Completing Trust Configuration

The Trust Configuration contains settings for multiple aspects of the Trust Module, you confirm these settings for accuracy before using the Trust module.  For example, you assign default control/resident account information,  and Trust Interest batch preferences. 

Note

You need Trust Control and Resident Accounts setup before completing Trust Configuration. 

Check your Provincial rules to determine if co-mingling of Resident Trust Funds with facility cash is permitted before using the Trust Split option. 

  1. Admin > Setup > Trust Setup > Trust Configuration

  2. Click New/Add.

  • Send Trust Bill To Contact Type - Select from list to assign the contact type used for Trust Statements. 

  • Next Deposit, Withdrawal, Intererest, AR Payment No - Select or edit the next Deposit, Withdrawal, Interest, and AR Payment batch here. The AR Payment No is referencing the Pay Bill From Trust batch type in the Trust portal. 

  • Cash Box Account - Select the trust Control Accounts for recording cash box transactions. 

  • Default Trust Control Account - Select the Control Account to use in Trust Deposit, Withdrawal, Interest and Pay Bill from Trust batches. 

  • Default Trust Resident Account - Select the Resident Account to use in all entries affecting the resident trust balance. 

  • Calculate Interest By - Select how Interest is calculated and distributed to Residents for Bank Interest batches.  

    • Minimum balance over date range - Select to compute the interest distribution based on the minimum Trust balance for the specified date range.  For example, if the resident had a $0 balance at any time in the interest period, that resident does not get a portion of the interest distribution for that period. 

    • Average balance over date range - Select to compute the interest distribution based on the average Resident Trust Balance over the specified date range. An algorithm is used to calculate, the interest is distributed to the residents is based on the calculated amount. 

    • Ending Balance over date range - Select to compute the interest distribution based on the closing Resident Trust balance for the specified date range.  For example, if the interest batch is for December 1 to December 31, the closing Resident Trust balance as of December 31 is used to calculate and distribute the interest amounts. 

  • Include Discharge  - Select option to include or exclude dischargedResidents on Trust Interest Batches.  

  • Allow Cash Split  - Select to show  Trust Amount in the Admin Cash Receipt batches.  Additional setup in the AR Configuration determines what GL account is used for the Trust Clearing Account.  The Trust Amount only appears in the Cash Receipt batches when this setup field is enabled. When Trust Amount is used in Cash Receipt batches, corresponding Trust Deposit batches are auto created when the batch is posted. 

  • Allow Future Period Transactions - Select this field to allow future Trust entries within 60 Days of the Current date.  For example, if the Trust billing period is January, entries for January and February are allowed, but not March.