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Medical Assistant

Chapter 8 Medical Assistant 8.1

QuestionAnswer
ACCOUNTING THE METHODICAL RECORDING, CLASSIFYING AND SUMMARIZING OF BUSINESS TRANSACTIONS
AUDIT REVIEW OF ALL FINANCIAL DATA IN ORDER TO ENSURE THE ACCURACY AND COMPLETENESS OF THE DATA
BOOKKEEPING ACCURATE RECORDING OF TRANSACTIONS
CASH BASIS CHARGES FOR SERVICES ARE NOT RECORDED AS INCOME TO THE PRACTIVE UNTIL PAYMENT IS RECEIVED, EXPENSES ARE NOT RECORDED UNTIL THEY ARE PAID
ACCURAL METHOD INCOME IS RECORDED AS SOON AS IT IS EARNED, WHETHER OR NOT THE PAYMENT IS RECEIVED AND EXPENSES ARE RECORDED WHEN THEY ARE INCURRED
POSTING TRANSFERRING AMOUNTS FROM ONE RECORD TO ANOTHER
DAILY JOURNAL RECORD OF SERVICES RENDERED, DAILY FEES CHARGED, PAYMENTS RECEIVED AND ADJUSTMENTS. ALSO CALL THE "GENERAL JOURNAL" "DAY SHEET" OR "DAILY EARNINGS RECORD"
CHARGE/RECEIPT SLIPS PROVIDE A RECORD OF THE PHYSICIAN'S SERVICES AND THE CHARGE FOR THESE. ALSO CALL "PATIENT ENOUNTER FORMS"
PATIENT LEDGER CARDS CONTAIN PATIENT'S NAME, SERVICES RENDERED, CHARGE, PAYMENT AND BALANCE. ALSO CALLED "PATIENT ACCOUNTS.
ACCOUNTS PAYABLE (A/P) RECORD EXPENSE AMOUNTS OWED TO A SUPPLIER OR CREDITOR. (RENT, EQUIPMENT RENTAL, OFFICE SUPPLIES.)
ACCOUNTS RECEIVABLE (A/R) RECORD THE BALANCE OF PAYMENTS DUE FROM PATIENT OR OTHERS (THIRD PARTY PAYERS) ON CURRENT ACCOUNTS.
MONTHLY SUMMARY SHOWS DAILY CHARGES AND PAYMENTS FOR AN ENTIRE MONTH.
ANNUAL SUMMARY PROVIDES MONTHLY CHARGES AND PAYMENTS FOR AN ENTIRE YEAR
BALANCE SHEET FINANCIAL STATEMENT FOR A PARTICULAR DATE THAT INDICATES TOTAL ASSETS (POSSESSIONS OF VALUE), LIABILITIES (DEBT) AND CAPITAL (AVAILABLE DOLLARS) SUMMARIES ARE IMPORTANT PART OF BALANCE SHEETS.
INCOME STATEMENT SHOWS PROFIT AND LOSS FOR A STATED PERIOD OF TIME, SUCH AS QUARTER OR YEAR.
PROCEDURE DAY SHEET LISTS NUMERICALLY ALL PROCEDURES PERFORMED ONA GIVEN DAY. PROVIDES PATIENT NAMES, DOCUMENT NUMBERS, PLACES OF SERVICE AND DEBITS AND CREDITS.
PRACTICE ANALYSIS REPORT ANALYZES THE REVENUE OF THE PRACTICE FOR A SPECIFIED PERIOD OF TIME. MAY ALSO BE USED TO GENERATE FINANCIAL STATEMENTS FOR THE PRACTICE.
AGING REPORTS LISTS THE AMOUNTS OF MONEY OWED TO THE PRACTICE AND THE REPORTS IS ORGANIZED ACCORDING TO THE NUMBER OF DAYS DUE.
Created by: sherrybarragan
 

 



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