In the Main Menu, click Tools, Billing/Finance Charges.

The Billing and Finance Charges tool is used to apply finance or billing charges to an Account. The charges will be applied to all guarantors that meet the filtering criteria entered on this window. Users must have the Setup permission to access this window.

Billing Charge: Add a flat charge to the account. The charge will be added to the account as an Adjustment. The adjustment type is determined by the setting in Account Module Setup, Billing charge adj type.

Finance Charge: Apply a percentage charge (APR) to the account balance. This charge is calculated against the entire balance, not just the patient portion, so you may want to carefully review pending insurance before and after running finance charges. It is recommended that you run it every month for an accurate APR. An Adjustment will be added that equals one month (1/12) of APR charges. The adjustment type is determined by the setting in Account Module Preferences, Finance charge adj type.

• Charge at least: Set the minimum finance charge amount. For example, if set to $5.00, any finance charge amount from $0.01 to $4.99 will be charged as $5.00 to the patient.
• Only if over: Set the minimum amount of a calculated finance charge before APR is assessed. For example, if the Only if over amount is $3.00 and the finance charge is less than that amount, the patient is charged $0.00.
• If both preferences are set, the patient will be charged the Charge at least amount, but only if it is greater than the Only if over amount. If the finance charge is greater than the Charge at least amount, the finance charge amount is applied.
• Compound Interest: Determines whether or not past interest adjustment charges are considered when calculating new interest charges. Check to charge interest on the total past due amount. Uncheck to charge interest on the past due amount minus any past interest charges.
  Note: If the account has an Installment Plan setup for any family member, the installment plan's APR is used instead of the APR set here.

Date of New Charges: Enter the date the new charges should be applied.

Calculate on Balances aged: Select the age of the accounts that should have the charge added.

Only Apply to these Billing Types: Select which billing types should have the charge added.

Finance/Billing Filters: Select options to have certain accounts excluded from receiving finance or billing charge.

• Exclude bad addresses (no zip code): Check to exclude families with a bad address.
• Exclude inactive families: Check to exclude families with an Inactive status.
• Exclude if insurance pending: Check to exclude families with an insurance claims still pending.
• Ignore walkout (In person) Statements: Works in combination with excluding accounts not billed since setting. If checked walkout statements will not be considered as being billed.
• Exclude accounts (guarantor) without Truth in Lending: Check to exclude families that do not have a signed Truth in Lending agreement on record.
• Exclude if balance less than: Set a balance, below which families will be excluded.
• Exclude accounts not billed since: If an account has not been sent a statement since this date, do not apply finance/billing charges. Remove the date to include all accounts.

Run: Click to process finance or billing charges to all included accounts.

To see all the finance charges that were applied, run the Finance Charge Report.

Undo Finance/Billing Charges

Use the Undo button to undo your most recent charge (finance or billing). All adjustments made on the same date, which have the same adjustment type, will be deleted. To undo finance charges for a different date, you must manually go into each account and delete the individual adjustment. Use the Finance Charge Report to identify the adjustments made on that date.

Apply Both Finance and Billing Charges

To apply both finance and billing charges to an account, you will run the finance/billing charge tool twice on the same day, once per month. You will still do daily billing.

1. Run the tool to apply the APR finance charge (e.g. 18%) to accounts over 30 days.
2. Run the tool to apply billing charge (e.g. $4) to accounts over 60 days.
3. Send statements.