SoftDent: Running the Account Aging Report

Document created by tshaw Employee on Apr 12, 2016
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The Account Aging report lists all accounts with aged balances exceeding a specified amount. It also shows the date and amount of the last payment, the total balance, the insurance amount, and the current, 30-, 60-, and 90-day aging amounts. Use this report to identify overdue accounts.

 

To run the Account Aging report:

1.    Select Reports > Accounting > Account Aging. The Output Options window is displayed.

2.    Select the output type and click OK. The Account Aging Report Setup window is displayed.

3.    By default, the report is set up to be run for all doctors. To run the report for a specific doctor, select the By Doctor option, and use the drop-down list to select the doctor.

4.    Select the type of accounts you want to include in the report.

5.    Select the Show Details of Individual Accounts option to list individual accounts on the report, and select an option to include addresses or print the accounts in oldest balance order.

6.    Type the user codes for the accounts you want to include or exclude.

7.    Click OK.

 

Additional Account Aging report info:

  • By default, this report excludes accounts with user codes C, I, or L; inactive accounts; accounts with $0.00 balances; and accounts with credit balances.
  • If you do not select the Show Details Of Individual Accounts checkbox, this part of the report prints balance mismatch information only. If you run this report for a specific provider, the summary does not include budget plan amounts.
  • If you have future transactions posted in your system, the account will show as having a balance mismatch. True balance mismatches display a status box in the Account Transactions window.
  • This report does not include dangling transactions.
  • You should not compare the receivables total from the Account Aging report with the receivables number on the daysheet. The defaults for the Account Aging report exclude a number of accounts, while the daysheet does not exclude any accounts.
  • To reconcile the Account Aging report with other accounting reports, you must not exclude any user codes, and you must include accounts with credit balances when you set up the report.
  • The Outstanding Insurance Breakdown section of the report shows the dollar total and aging of insurance balances. The dollar total equals the insurance balance for accounts included in the report. This is not the same calculation as for outstanding claims, and this total will not match any other report.
  • The Accounts Receivable is also shown as a percentage for each of the aging categories—current, 30-, 60-, 90-, credits, amounts not on budget plans, and amounts transferred to budget plans.
  • The Outstanding Insurance Breakdown section includes a total of the outstanding income for the practice. This is calculated by adding the total outstanding insurance and the total amount due of each account and then subtracting any prepayments that have been made.
  • The Accounts Receivable section includes a total of all the debit account balances (without credit balances factored in).
  • You can see that your debit balances match your total outstanding income. Both of these amounts are displayed in blue.
  • The Accounts Receivable section is calculated as follows:
    • NET PRODUCTIONS = Productions (100.00+) + Charges (61.00-95.89, 97.00-97.89, 99.00-99.89) +/-Production Adjustments (40.00-60.89)
    • NET COLLECTIONS = Cash (1.00-1.89) + Checks (2.00-10.89) + Credit Cards (11.00-20.89) +/-Collection Adjustments (21.00-39.98, 96.00-96.89, 98.00-98.89)
    • NET PRODUCTIONS - NET COLLECTIONS = ACCOUNTS RECEIVABLE
  • Your receivables total is the amount awaiting or requiring payment (the difference between the services performed and the amount collected or adjusted off for these services). The Total (Net 30) field displays the total of all productions, charges, and adjustments to productions you expect to collect within the next 30 days (excluding budget plan amounts, listed in the On Budget Plans field).
  • The Accounts Receivable is also shown as a percentage for each of the aging categories—current, 30-, 60-, 90-, credits, amounts not on budget plans, and amounts transferred to budget plans.

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