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3560 termin wk 2

QuestionAnswer
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
Created by: Lanealto88
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