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.

Note: Aging runs when opening the tool, again after biling/finance charges post, and after undoing previous charges.

Required Setup:

Date Last Run: Date the Billing/Finances charge tool was last run.

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

Billing Charge: Add a flat charge to the account. The charge will be added to the account as an Adjustment.

Finance Charge: Apply a percentage charge (APR) to the account balance. This charge is calculated against the patient portion of the entire family. 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.

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.

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

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

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

Undo Billing/Finance 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 Billing and Finance Charges

To apply both billing and finance charges to an account, you will run the billing/finance 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.