PracticeWorks: How to Post an EFT and Make it Appear in the Daily Deposit Details

Document created by tiffanym Employee on Aug 24, 2017
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Goal:

 

To post an insurance payment as an electronic funds transfer and make the payment amount appear on the Daily Deposit Details Report

 

Solution:

 

Follow the steps below to post an EFT as an insurance payment:

  1. Open the Ledger where the payment should be applied and click Add Entry.
  2. Enter the letters "IP" (without quotations marks) in the "Description" column.
  3. Click the Tab key.
  4. From the "Outstanding Claim Pick List" for this account, select the claim to which the payment should be applied.
  5. When the "Receive Insurance Payment" window appears, enter the amount of the payment.
  6. Click the drop-down arrow beside "Payment Type" and select "EFT."
  7. Enter the EFT's payment number in the "EFT #" field.
  8. Click OK.

 

Additional Information:

 

The method described here will cause the EFT's to appear in a separate section of the office's Daily Deposit Details sheet.

However, these entries will not appear on the actual Deposit Slip. This is because nothing is being deposited. The EFT money is already in the practice's bank account. (This feature simply allows the office to process them properly for record-keeping.)

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