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MOD 3560 WEEK 2
TERMINOLOGY
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 TRANSACTIONAL INFORMATION FOR A GIVEN DAY) A REPORT THAT CONTAINS TRANSACTION DETAIL,A 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 A PATIENT OWES TO THE MEDICAL OFFICE |
PATIENTS FINANCIAL RECORD | A SERIES OF ACCOUNTS RECORDED ON A PATIENT 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 |
INSURING AGING REPORTS | PRINTOUT THAT SHOWS UNPAID CHARGES AS CURRENT OR DELINQUINT BASED ON THE NUMBER OF DAYS THEY HAVE AGED |
PATIENT AGING REPORTS | A REPORT THAT PRINTS THE PATIENTS OUTSTANDING CHARGES NOT PAID AS EITHER CURRENT OR THE NUMBER OF DAYS CHARGES ARE CURRENT |
PATIENT LEDGER REPORT | THE PATIENT TRANACTIONAL INFORMATION SUCH AS CHARGES AND PAYMENTS |
PRACTICE ANALYSIS REPORT | A REPORT THAT CONTAINS CHARGES,PAYMENTS,AND AN ACCOUNTING SUMMARY |