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bookkeeping

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
show money owed ...TO ...the practice  
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Accounts payable   show
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show Is an organized and accuraterecord-keeping system offinancial transactions for a business.  
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Most medical practices use the   show
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show Assets = liabilities + equity  
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show all things of value owned by orrelating to the practice  
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Liabilities are   show
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Equity refers to   show
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The word 'balance' means   show
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The word 'debit' means   show
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show 'payment'  
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Because the 2 sides of the accounting equation must always 'balance', each transaction requires   show
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show 'cash basis' type of accountingwhich means that income is considered as income ONLY when money is collected and that payables (money owed) are considered expenses only when money is paid  
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What is the 'pegboard'   show
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show 'record of the patient's financial activities'  
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When a pt. transaction occurs, the bookkeeper places the   show
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Basic Bookkeeping Tips   show
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The 'Day Sheet' keeps track of .....   show
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show 1. deposit slip2. distribution columns3. payment section4. adjustment section5. 'posting proofs'  
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show listing financial transacions in a ledger  
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The distribution columns are used to   show
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show an entry to change an account  
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The 'posting proofs' section is where   show
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show an error has been made on the day sheet  
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The 'day sheet' is important because it keeps track of   show
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What are the 5 sections of a pegboard day sheet?   show
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Ledger card is   show
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What is an Encounter Form/Charge Slip?   show
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How do ledger cards and encounter forms differ?   show
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show the opposite of the normal meaning of that columnTo indicate a credit [brackets] are used  
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ROA   show
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show make sure you have the correct pts information in front of you  
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show 1. the credit stays on the acct. and is subtracted from the charges on the pts next visit2. the pt is mailed a refund for the amt of the overpayment. How an overpayment is handled depends on office policy and the amt of the overpayment  
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How to handle an overpayment   show
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Adjustment section...   show
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show 1. A credit adjustment reduces the pts account balance2. a debit adjustment increases the pts account balance  
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show 1. no day sheets2. printable super bills, billing, receipts, checks, reports, and reminders to pts3. no paper trail4. daily accounting can be printed as needed  
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show a fee charged monthly for using an account  
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show non sufficient funds  
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returned check fee   show
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ABA number   show
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Receiving Checks - what needs to be done?   show
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show It ensures that the bank deposits the payments to the correct payment.  
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Bank statement consists of...   show
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show 1. cash fund kept in office for small purchases2. the value of petty cash should always remain the same3. petty cash is always a designated sum of $4. when $ is taken from the fund a receipt of voucher is placed in the fund to verify the purchase  
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Created by: CHT