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mod 3560 wk2

3560 wk 2 terms

Accounting equation a formula used to analyze each transaction
accrual basis accounting recording revenue when services are performed
cash basis accounting recording revenue when cash is received
cycle billing the medical office statements are equally divided and sent twice a month, weekly or daily.
daily journal used to record original transactions in chronological order
day sheet list of all transactional information for a given day
liabilities the medical office's debts or obligations
once a month billing all patient's statements for the medical office are prepared once a month at the same time
owners equity the rights of the owner
patient ledger cards the patient's transactions information on one sheet or card
patient statement document listing the amount the patient owes to the medical office
patient financial record a series of accounts recorded on the patient's ledger card
pegboard a one-write system where you enter the transaction a single time
posting recording transactional information from the journal to the patient ledger
custom reports reports that can be created, edited, and printed from medisoft
Day sheet a report that contains transaction detail, a charge and payment summary, an accounting summary, and an optional bank deposit sheet
insuring aging report a report that provides a breakdown of the insurance company balances and charges during a specified transaction period by reporting those charges as current or how many days they have been outstanding
patient aging report a report that prints the patient's outstanding charges not paid as either current or the number of days charges are not current
patient ledger report the patient's transactional information such as charges and payments
practice analysis report a report that contains charges, payments, and accounting summary
Created by: SSchabow