SoftDent: Running or Generating an Accountant's Earnings Report

Document created by chriscornett Employee on Sep 20, 2017
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Goal:

 

Running or Generating an Accountant’s Earnings Report

Solution:

The accountant's earnings report displays a breakdown of transaction codes posted. Using this information, SOFTDENT Software calculates the net collections, net productions, net charges, tax, and expected income for the specified time period.

Generating the Accountant's Earnings Report

 

  1. Click Reports in the main menu bar.
  2. Select Accounting.
  3. Select Accountant's Earnings.
  4. Click OK on the output options window.
  5. Enter the desired starting and ending date.
  6. Enter the desired provider. Please note that 999 will run the report for the entire practice.
  7. Click OK to generate the report.

 

Additional Information

 

Additional Accountant's Earnings Report Details

 

The first section of the report lists all transactions posted for the specified period, categorized by code number. It includes the codes, descriptions, number of times posted, and dollar total.

The second section of the report lists net collection and net production totals for the specified period, along with a tax summary. The tax summary only prints if you have tax enabled in the system settings, and it differs depending on the tax method your practice uses.

This report includes every transaction in the TRANS.DAT file, including dangling transactions. 

Understanding Report Elements

Net Collections = Total Collections + Increase Collections - Decrease Collections
 

  • Total Collections = Total dollar amount posted to collections (codes 1.00-20.89).
  • Adjust (Increase Collections) = Total dollar amount posted to adjustment codes 21.00-29.89, 96.00-96.89.
  • Adjust (Decrease Collections) = Total dollar amount posted to adjustment codes 30.00-39.89, 98.00-98.89.

 

Net Production / Charges = Total Production + Total Charges + Increase Production/Charges - Decrease Production/ Charges

 

  • Total Production = Total dollar amount posted to production codes 100.00+.
  • Total Charges = Total dollar amount posted to charge codes 61.00-95.89, 97.00-97.89, 99.00-99.89.
  • Adjust (Increase Prod/Charges) = Total dollar amount posted to adjustment codes 40.00-49.89.
  • Adjust (Decrease Prod/Charges) = Total dollar amount posted to adjustment codes 50.00-60.89.

 

Tax Summary - Tax Method 1 (based on collections) 

 

  • Tax on Collections = Tax on collections posted (codes 1.00-29.89, 96.00-96.89).
  • Tax Credited back from adjustments = Tax credited on adjustments posted (codes 30.00-39.89, 98.00-98.89).
  • Tax Liability for this period = Tax on Collections - Tax Credited back from adjustments.

 

Tax Summary- Tax Method 2 (based on productions) Tax Charged on Services = Tax charged on codes 40.00-49.89, 60.00-99999.89.

 

  • Tax Credited back from adjustments = Tax credited on adjustments posted (codes 50.00-59.89).
  • Tax Liability = Tax Charged - Tax Credited back from adjustments.

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