Recordkeeping Word Scramble
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Question | Answer |
Accounting | Reporting of the financial results of a business |
Accounting Equation | Assets=Liabilities+owner's equity |
Accounts Payable | Amounts owed to (creditors), vendors |
Accounts Receivable | Income or money owed to a business |
Adjustment | When a change has been entered into an account record |
Assets | Everything owned by a business/medical practice, bank accounts, cash accounts receivable, real estate and equipment |
Balance | Difference between the debit (money owed) and the credit, (money paid) |
Balance Sheet | Shows current financial condition of the practice |
Bookkeeping (recording) | Systematic recording of the transactions of a business |
Credit | When a payment has been received on an account |
Daily Log | Chronological list of the charges to patients and payments received from patients each day |
Day Sheet | All patient charges and any receipts are recorded here each day |
Debit | When a charge has been entered into an account |
Disbursement journal/record | Summary of accounts paid out |
Income Statement | Reports the total income received and the total expenses that make the income necessary |
Ledger Card | Provided a record of all services, charges, payments, ;and adjustments |
Liabilities | Debts of a business, what they owe |
Owners Equity | What a business is worth, (proprietorship, capital or net worth) Difference between the assets and the liabilities of a business |
Payee | Person who receives payment |
Petty cash fund | Voucher system used to take care of minor expenditures |
Petty cash voucher | Form used to control petty cash expenditures |
Receipt form | Used when a patient payment is made but no service is provided on that day |
Superbill | Used as a charge slip, receipt statement, and insurance reporting form |
Created by:
wenchie040
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