After a Patient's CareCredit application is accepted, you can use the Adjustment Code CARE_C to record the CareCredit amount on the patient's Ledger.
You may prefer to create a CARE_C code as a Payment (this makes the amount appear on the Deposit Slip).
When using CARE_C as a Payment code, you should edit the Transaction Code Definition so that the Payment type is Credit (TOS) which shows that you are receiving this payment at the Time Of Service ("TOS") on Daily Reports.
IMPORTANT: This code should be set up to decrease the Patient's balance.
The CARE_C code can also be set up as an Adjustment, not a Payment. This keeps it off the Deposit Slip if you do not want it showing there since the money is not deposited on the same day (the money is credited directly into the office's bank account a day or two afterwards by CareCredit, minus processing fee).
When the CARE_C code is set up as an adjustment, you should run a monthly Adjustment/Comment Summary Report to track the cumulative use of the CARE_C code, and compare the total with the amounts on your bank statement.
For additional questions or comments contact CareCredit 1-800-300-3046 (or 1-800-859-9975).