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3560 wk 2

Words def.

Account equation formula used to analyze each transaction
Accrual basis accounting recording revenue when services are performed
cash basis accounting recording revenues when cash is received
cycle billing the medical office statements are equally divide and sent twice a month
daily journal Used to record original transaction in chronological order
day sheet List of all transactional information for a given day
Liabilities The medical office debt or obligations
Once a month billing All patient statements for the medical office are prepared once a month at the same time
Owners equity the right of the owners
Patient ledger cards The patients transaction information on one sheet or card
Patient statement Document listing the amount the patient owes to the medical office
patient financial records A series of accounts recorded on a patients ledger card
Pegboard One write system where you enter a transaction a single time
Postings Reporting the transactional information from the journal to the patient ledger
Custom reports Reports that can be created, edited, and printed from medisoft
Day sheet Report that contains transaction details, a charge and payment summary, and accounting summary and optional bank deposit sheet
Insuring aging reports Reports that providers a breakdown of the insurance company balances and changed during a specified transaction period by reporting the charges as current or how many day they been outstanding
Patient aging report A report that prints patients outstanding charges not paid as either current the numbers of days charges are current
Patient ledger report The patient transactional information such as charges and payments
Practice analysis report A report that contains charges, payments and an accounting summary
Created by: markitaboyles