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lhopkins
Canine II

EFT Expanded On Daysheet

I would like to see Electronic Funds Transfer (EFT) payments expanded on the Daysheet.  The electronic transfer appears on the doctor’s bank account as a bulk payment, but one bulk EFT entry on his statement may represent dozens of individual patient EFT entries posted into SoftDent.  Currently, I post the individual patient EOB’s entering the EFT number (in check number) for each entry.  The Daysheet will show the total of the day’s EFTs, but not the total for each bulk payment EFT number.  I could run a Transaction for a Period report isolating only the EFT code 2.9, but I prefer to run an Insurance Payment Distribution report.  What I like about the Insurance Payment Distribution report is it lists each entry in EFT number (check number) order, not alphabetical or patient number order.  This way, if I had 15 patient EOB’s on a single EFT I can find that EFT number, see if I have 15 entries in a row, total those entries and make sure I’m in balance with the bulk EFT.  I do this for each EFT number.  The thing I don’t like is that I have to print out and save this report with my lines and hand written totals to hand off to my doctor so he can cross reference with his bank account when it comes through to make sure we are accounting for each EFT.  He & I want to make sure I post all EFTs he shows on his statement and definitely that he receives credit for each EFT I retrieve from the source.  It would be nice if the Daysheet could incorporate an EFT section or page, which does all my hand calculations so the doctor can simply pull up the Daysheet on his workstation to reference the EFT figures as needed.

 

This trend is only going to expand as more and more insurance companies recognize the cost savings of EFTs.  Since November I have had two contracted insurance companies require we either go to EFT or be charged a processing fee to continue receiving paper EOBs and check.  I have had several non-contracted insurance companies sing the praises of going green if we voluntarily sign up for EFTs.  I truly don’t relish the idea of hand totaling and make shift reports for what could very well be the majority of our payments in the near future.

 

I am suggesting an additional page incorporated into the Daysheet as follows:

  • Similar to the Insurance Payment Distribution report but with a total at the end of each bulk of entries that are under the same EFT or check number.
  • Similar to the Deposit Slip that lists the total number of checks, but provides the total number of entries that make up a single EFT. (I would actually like to see the Deposit Slip in the format as well)
  • The horizontal order of Code, Bank No, Check/EFT Number, Insurance Company, Total Amount, ID, Patient/Plan Name, Payment Amount is fine, but add a vertical running totals for easy access for the doctor.
  • Just like the Deposit Slip, this page would need to be a separate accessible report under the pull down tabs Reports, then Accounting so a the person posting a large bulk payment could verify the balance upon completion anytime throughout the day without having to run an entire Daysheet.
  • EFT Payment totals should be displayed under the Collections section on the Register Reports.

 

33 Replies
FormerPLM
Premolar III

Re: EFT Expanded On Daysheet

Hello SoftDent Community,

I wanted to bring your attention to this suggestion, which lhopkins‌ did a great job of articulating.  Are you dealing with EFT's in your practice yet?  How are you handling them?  What do you think of the idea of an additional page on the daysheet to report these?  

Thank you!

Jeff

pksaari79
Premolar III

Re: EFT Expanded On Daysheet

We are not doing EFT's in our office, BUT if we are talking about expanding the daysheet, I would like a listing of who gave cash, instead of having that as a bulk payment.

dmdmatt
Canine II

Re: EFT Expanded On Daysheet

We are going to see all insurance payments made by EFT soon.  We could use more codes that identify the specific insurance company, and a total line item for any of the companies that are grouped as one  bulk payment.  It should not be a hard fix.  We are a CS Softdent Cloud user, and as far as I know, there are only two codes available for EFT payments. All our BCBS payments, and Met Life payments are now made by  EFT.   I totally agree with Loree's excellent request for these updates in the software.  Matt

FormerPLM
Premolar III

Re: EFT Expanded On Daysheet

Hello everyone, 

Below is a simple markup of the existing Insurance Distribution Report.  Please give me your thoughts on this approach to reporting EFT payments.  Thank you!

CS Dental Employee
CS Dental Employee

Re: EFT Expanded On Daysheet

Looks Great Jeff

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bswh
Canine III

Re: EFT Expanded On Daysheet

I agree, my doctor tracks collection by company so now I have to to add them up manually and sperate per doctor since I we have multiple doctors and multiple company's who pay with EFT now.

FormerPLM
Premolar III

Re: EFT Expanded On Daysheet

Thanks for the feedback everyone.  The solution I'm proposing includes the new page above added to the Daysheet report, a new report that can be run as needed from the Reports -> Accounting -> tab, which will be for EFT transactions only, and the addition of EFT's to the Register totals.   Below is the user story for the new report.  If you have the time, I'd really appreciate your feedback.  Have I missed anything?  Thanks again!

User Story Statement:

As an office manager, I need the ability to report on EFT transactions, so that I can balance my system to my bank account.
Acceptance Criteria:
1)  A new report will be created called "EFT Distribution Report"
2)  The new report will reside on the Reports tab, Accounting submenu.
Selection Criteria:
The following selection criteria will be required:
  • ADA Payment Code range.  The allowable range will be 2.90 - 2.99 (EFT payments).
  • Date range with calendar assistance
  • Provider range or All  (lookup from provider table)
  • Insurance company selection  (lookup from ins co table)
  • Insurance plan selection (lookup from ins plan table)
  • Account selection w/lookup (lookup from account table)
Sort:
The user will have the option to sort by:
  • EFT number and/or
  • Bank Number and/or
  • ADA code and/or
  • Insurance company and/or
  • Insurance plan and/or
  • Account ID 
Output:
1)  The user shall have the option to print to Printer, Print Preview, or Excel
2)  The selected date range shall print as a subheader on the top of each page.
3)  The page number shall print in the footer of each page.
4)  The version of SoftDent shall print on the top of each page.
5)  The practice name shall print on the top of each page.
6)  The run date and time of the report shall print in the footer of each page.
7)  The following data shall be reflected on the report (mockup attached)
  • ADA Code
  • Bank Number
  • EFT Number
  • Insurance Company (number) Name
  • Amount
  • ID
  • Patient Name/Plan Name
  • Payment Amount
8)  A subtotal line will be added after each change in EFT number.  This line will contain the number of items, the word "subtotal"  with EFT number in parenthesis, and the subtotal for that EFT.
9)  The report will be sorted by sort selection, or EFT number by default.
10)  A summary field will be added to the beneath the report detail (last page) showing the total number of EFT transactions and the total EFT dollar amount.  
CS Dental Employee
CS Dental Employee

Re: EFT Expanded On Daysheet

Hello Jeff,

This looks great, just one small addition in red below;

Sort:

The user will have the option to sort by:

  • EFT number and/or
  • Bank Number and/or
  • ADA code and/or
  • Insurance company and/or
  • Insurance plan and/or
  • Account ID and/or Patient ID
cherring227
Canine III

Re: EFT Expanded On Daysheet

Love this idea!! Also love the idea of making a code for each insurance company or using the insurance plan # for example METLIFE EFT PAYMENT or EFT PAYMENT 1245 (insurance plan ID #