©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Chapter 15 Bookkeeping

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Objectives Review the learning and performance objectives for this chapter By the end of this chapter, demonstrate the procedures in the textbook and the job skills in the workbook 2

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Heart of the Health Care Professional Service –Confidence is communicated and mistakes are minimized when the medical assistant is knowledgeable about financial matters 3

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting: system of recording and summarizing business and financial transactions Bookkeeper: recorder of transactions 4

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting Systems –Debits Increases assets –Credits Decreases assets –Single-Entry Accounting Not self-balancing 5

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting Systems –Single-entry accounting General ledger Accounts-receivable (A/R) ledger Accounts-payable (A/P) ledger Petty cash fund Payroll records 6

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting Systems –Double-entry accounting Books must balance Assets –Anything owned by business Capital –Original investment –Property owned 7

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting Systems –Double-entry accounting Liabilities –Monies owed by business Proprietorship –Owner’s net worth or equity 8

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting Systems –Pegboard accounting Manual system Layered forms Accurate Easy to learn Write-it-once process 9

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting 10

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounting Accounting Systems –Computerized accounting Increases accuracy Provides electronic billing Generates reports easily 11

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Patient Accounts Ledger Card/Patient Account –Chronological history –Financial transactions of patient’s account Charges Payments Adjustments –Contract adjustment –Uncollectable debt adjustment –Refund adjustment Running balance 12

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Patient Accounts 13

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Daysheet Cumulative Daily List of: –Patients seen –Services rendered –Fees charged –Payments made –Adjustments calculated –Balances owed 14

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Daysheet Prepare the Pegboard; Post Charges, Payments, and Adjustments, and Balance the Daysheet –Procedure

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounts Receivable Control Computer Balance of Outstanding Accounts A/R Balance on Daysheet –Must be equal –If not equal, error must be found 16

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounts Receivable Control Computerized Reports –Summary of information stored in database Daysheet Patient ledgers Various reports –Easier and quicker –Crosscheck transactions 17

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Accounts Receivable Control Locating Errors –Missed figure –Miskeyed number –Transposed number; amount divisible by 9 –Posted in wrong column; amount divisible by 2 –Sliding a number 18

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Cash Funds Change Drawer –Make change for cash payments –Issue receipts –Balance drawer 19

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Cash Funds 20

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Cash Funds Petty Cash –Cash for small, unanticipated purchases Office supplies Stamps Delivery fees Refreshments –Setting up petty cash fund Initial amount of cash 21

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Cash Funds Petty Cash –Petty cash record Amounts received Expenditures Balance –Establish, Record, Balance and Replenish Petty Cash Fund Procedure

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Stop and Think Case Scenarios Review the scenario “Determine an Accounting System” –State what questions you would ask to obtain information necessary to make this decision –Name the advantages and disadvantages of each accounting system 23

©2013 Delmar, Cengage Learning. All Rights Reserved. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part. Stop and Think Case Scenarios Review the scenario “Obtaining Change for a Patient” –What would you do? –Consider the suggestions listed and comment on each choice stating which action you would take and why 24