Question | Answer |
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/payment is received |
Cycle Billing | medical office statements are equally divided and sent twice a month |
Daily Journal | Used to record original transactions in chronological order |
Day Sheet | list of all transaction for any given day |
Day sheet 2 | A report that contains transaction detail, charge and payment summary, an accounting summary, and an optional bank deposit sheet. |
Liabilities | medical office debt or obligation |
Once a Month Billing | system in which all patient statements 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 Statements | document that shows the amount the patient owes to the medical office |
Patients Financial Record | a series of accounts recorded on a patient ledger card. |
Peg Board | a one write system where you enter the transaction a single time. |
Posting | recording transactional information from a journal to the patient ledger |
Custom Reports | reports that can be created, edited and printed from medisoft |
Insuring Aging reports | a printout that shows unpaid charges as current or delinquent based on the # of days they have aged |
Patient aging Reports | a report that prints that patients outstanding charges not paid as either current or the # of days charges are current |
Patient ledger reports | the patient transactional information such as charges and payments |
Practice Analysis reports | a report that contains charges, payments and an accounting summary |