Chapter 15- Financial Systems: Accounts Receivable
cash only
system eliminates paperwork in the business office
nonsufficient funds check(NSF)
A check returned unpaid to the payee because insufficient funds were available
statement
A document that informs patients of their financial status with the dentist
receipt
A form given to the payer(patient) that acknowledges payment on an account
subtract the credit balance from the total charges
A patient owes $220 for today's treatment and has a credit balance of $40. Which step should the administrative assistant take before informing the patient of the balance due?
Accounts payable
All of the dentists financial obligations or money that the dentist owes (outgoing money)
credit balance
An amount owed to the patient for services for which the dentist has paid in advance but have not yet been performed
creditor
An institution or business that sends a bill to a person, agrees to an installment payment plan
credit bureau
An organization that reports specific information about a person's previous payment habits
identity theft
The administrative assistant notices that the new patient's signature does not match the signature on the credit card being used to pay for services rendered. Which possibility should the assistant be mindful of?
adjustment
The alteration of an account balance as a result of a courtesy discount
balance
The credit or debit amount on an account
bookkeeping
The process of the recording of financial transactions
Accounts payable Accounts receivable
Two types of financial systems
Accounting
The recording, classifying, and summarizing of financial and business records
accounts payable
What financial system includes all production data, account adjustments made, and calculation of new balances?
well-defined credit policy
Which is an integral part of the dental office's accounts receivable system?
0.10
Which is the alternative format for writing 10%
it protects files against physical threats
Which is the main reason for using an offsite computer backup system?
align decimal points
Which mathematical practice ensures the correct addition of numbers, some of which include decimal points?
reminder
Which stage of the collection process is accomplished through a notice on the statement
Accounts receivable
includes all production(incoming money) data entered for treatment provided and payments received, and new balances are calculated
Extended payment
involves receiving partial payment over time.
payment of statement full
person is expected to make full payment within 10 days of receiving the statement