Billing/Finance Charges

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.

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.

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.