How to Read a Printout
Upon becoming a client of PayCo a statement will be designed for each individual client. We call these statements ‘quickreports’ (as we use Quickbooks software). A quickreport contains any and all account activity in regards to each individual’s deposits and withdraws. Withdraws show as ‘Bill’ on the quickreport. Here is some more information on how to read the report. A PDF file is also available on this website to further breakdown the information contained in the report.
· The first column of the quickreport will show either ‘Deposit’ or ‘Bill’. Bill refers to any withdraw whether an actual bill being paid or money that is paid out to the client
· The second column contains the date of the transaction
· The third column shows ‘Num’. This column will have quick reference tools that will describe the nature of that transaction. For example:
o Mail- means that transaction was mailed. Generally there will be initials of the Account Manager in front of term. i.e.- BB Mail
o P/U- means that transaction will be picked up. Again, the Account Managers initial are generally in front of this term.
o ARF- additional request for funds. Meaning extra money that has been given outside of the regular budget
o PP- Partial Pay. Meaning the bill had to be paid partially. The designated Account Manager can give you details surrounding this.
o IF-NM- Insufficient Funds- Next Month- Meaning there is not enough money in the account to pay the bill and it will be paid next month
o HFU- Hold For Utilities. Generally you will see this by a cable or phone bill. Since these two bills are considered a luxury and not a necessity, we may hold the bill for utilities to be paid first.
o HFD- Hold for Deposit. This means there is no money and the bill will be held for the following month’s deposit or the next paycheck.
· The fourth column- Is a brief preview of who a check was made payable to. For example, you will see the clients name in this section, or their landlord, utility company, etc.
· The fifth column- Is a brief preview of what the memo section of an actual check will show. This section generally contains billing information, account numbers or what a check is being written for. ie. spending.
· The sixth column- is how much the bill or deposit was written for. The overall balance at the bottom of the page will reflect the client’s current amount of money in their account.
Work Income- PayCo keeps track of work income on the quickreport. However, it is kept as a separate deposit from the benefits deposits/bill paying section. The work income will be at the top of the quickreport and will show the total balance of work income received from January 1st of any given year. These deposits are not separate from the overall balance at the bottom of the quickreport. This total is simply a way of seeing how much money has been deposited from work income versus SSI/SSDI income over the course of the year. Quickbooks include this income with the overall balance at the bottom of the report.
Upon becoming a client of PayCo a statement will be designed for each individual client. We call these statements ‘quickreports’ (as we use Quickbooks software). A quickreport contains any and all account activity in regards to each individual’s deposits and withdraws. Withdraws show as ‘Bill’ on the quickreport. Here is some more information on how to read the report. A PDF file is also available on this website to further breakdown the information contained in the report.
· The first column of the quickreport will show either ‘Deposit’ or ‘Bill’. Bill refers to any withdraw whether an actual bill being paid or money that is paid out to the client
· The second column contains the date of the transaction
· The third column shows ‘Num’. This column will have quick reference tools that will describe the nature of that transaction. For example:
o Mail- means that transaction was mailed. Generally there will be initials of the Account Manager in front of term. i.e.- BB Mail
o P/U- means that transaction will be picked up. Again, the Account Managers initial are generally in front of this term.
o ARF- additional request for funds. Meaning extra money that has been given outside of the regular budget
o PP- Partial Pay. Meaning the bill had to be paid partially. The designated Account Manager can give you details surrounding this.
o IF-NM- Insufficient Funds- Next Month- Meaning there is not enough money in the account to pay the bill and it will be paid next month
o HFU- Hold For Utilities. Generally you will see this by a cable or phone bill. Since these two bills are considered a luxury and not a necessity, we may hold the bill for utilities to be paid first.
o HFD- Hold for Deposit. This means there is no money and the bill will be held for the following month’s deposit or the next paycheck.
· The fourth column- Is a brief preview of who a check was made payable to. For example, you will see the clients name in this section, or their landlord, utility company, etc.
· The fifth column- Is a brief preview of what the memo section of an actual check will show. This section generally contains billing information, account numbers or what a check is being written for. ie. spending.
· The sixth column- is how much the bill or deposit was written for. The overall balance at the bottom of the page will reflect the client’s current amount of money in their account.
Work Income- PayCo keeps track of work income on the quickreport. However, it is kept as a separate deposit from the benefits deposits/bill paying section. The work income will be at the top of the quickreport and will show the total balance of work income received from January 1st of any given year. These deposits are not separate from the overall balance at the bottom of the quickreport. This total is simply a way of seeing how much money has been deposited from work income versus SSI/SSDI income over the course of the year. Quickbooks include this income with the overall balance at the bottom of the report.
| How to read a printout |
