1.  Just like any other business, a medical practice must keep accurate financial records!  Things have changed a lot with the use of computers.

2.  Bookkeeping is part of an accounting system, not the system itself.

3.  A system of recording, classifying, analyzing, and summarizing financial transactions; this includes both money coming into the business and money going out of the business

4.  Cash method- income is recorded when money is received (income) and the expenses are recorded when the bill is paid (disbursements).  Accrual method-income is recorded when a service is performed or a product is sold, even if payment for the sale or service does not occur until later. Expenses are recorded at the time when a product arrives or a service is delivered to the business.

5. Routing # on the left Account # next to routing number. Check # in upper R corner  Make sure correct date, amount, and signed.  Ask for ID if you do not know the person.  Only accept checks for correct amount.  Only one endorsement

6.  Bank Draft  Cashiers check-drawn on from bank  Certified check- yours, bank seals as certified  Limited Check- only 30,60 90 days(payroll)  Money order  Traveler’s check  Voucher check- detachable voucher form which specifies what check is for.

7.  Online banking is called e-banking  Protected by passwords.  Change passwords often on work computers keep track of what they are.  Electronically deposited money is called direct deposit.

8.  The ABA number is number issued to each bank for identification purposes.  The country is divided into 12 Federal Reserve districts.  Income and Tax Statement must be transmitted annually using Form W-3  A sentinel event? Unexpected horrible event.(Total power failure in a hospital)

9.  When should you request the bank issue a stop-payment order on a check that you wrote in payment for a medical supply order?  The check was accidentally written for more than was owed. The payment did not reach the payee within a reasonable amount of time. The vendor to whom you wrote the check refuses to deliver your order.

10. ◦ Decide what objectives are most important ◦ Develop a specific plan ◦ Evaluate what is currently being done to increase patient flow ◦ Advertising is an effort made to create or change an attitude, belief, or perception through purchased broadcast time or print space for the company