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Financial Management
Ch 63 - Financial Management in the Dental Office
| Question | Answer |
|---|---|
| System designed to maintain the financial records of a business. | Accounting |
| Expenses and disbursements paid out from a business. | Accounts Payable |
| The method of tracking the accuracy and completeness of bookkeeping records. | Audit Trail |
| Process of recording financial transaction accounts of a business. | Bookkeeping |
| Name of the insurance company that pays the claims and collects premiums. | Carrier |
| Term for a fixed amount of cash. | Change Fund |
| Draft or order drawn on a bank account for payment of a specified amount of money. | Check |
| The records of all checks issued on and deposits made to a specific account. | Check Register |
| Coordinating insurance coverage between 2 insurance carriers. | Coordination of Benefits (COB) |
| Name for the publication that lists the procedure codes assigned to dental services for the processing of dental insurance. | Current Dental Terminology (CDT) |
| Term for the fee that is within the range of the usual fee charged of the service. | Customary Fee |
| Itemized memorandum of funds to be deposited into the bank. | Deposit Slip |
| Term for the payments on any outstanding accounts payable. | Disbursements |
| Term for the overhead costs of a business that must be paid to keep operating. | Expenses |
| Term for the form of insurance that protects a business from employee theft. | Fidelity Bonds |
| Term for business expenses that are ongoing. | Fixed Overhead |
| Term for the total of all professional income received. | Gross Income |
| Itemized list of goods that specifies the prices and terms of sale. | Invoice |
| The financial statement that maintains all account transactions. | Ledger |
| Term for gross income minus expenses. | Net Income |
| Term for the itemized listing of shipped goods. | Packing Slip |
| Named on the check as the recipient of the amount shown; person or business. | Payee |
| Term for the manual bookkeeping system that keeps that transactions for the day. | Pegboard System |
| Term for the limited amount of cash that is kept on hand for small daily expenses. | Petty Cash |
| Term to describe the documentation of money transactions within a business. | Posted |
| Term for the dentist who provides treatment to the patient. | Provider |
| Term for the fee that is considered justified for an extensive or complex treatment. | Reasonable Fee |
| Term for the person who has agreed to pay for services or for an account. | Reasonable Party |
| Term for the summary of all charges, payments, credits, and debits for the month sent to account holder. | Statement |
| Term for any charge, payment, or adjustment made to a financial account. | Transaction |
| Term for the fee that the dentist charges for a specific service; aka customary fee. | Usual Fee |
| Term for the business expenses that change depending on the types of services needed. | Variable Overhead |
| Term for the written indication of a balance due on an account, given to a patient at the end of an appointment. | Walkout Statement |
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ChasHealthDental
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