Finance/Billing Charges 

This tool is used to apply finance or billing charges to an account. Be sure to check your States regulations for finance charges.  The charges will be applied to all guarantors that meet the filtering criteria entered on this window.

• Finance charges:  Apply a percentage charge (APR) to the account balance.  This charge is calculated against the entire balance, not just the patient portion, so you may want to carefully review pending insurance before and after running finance charges. It is recommended that you run it every month for an accurate APR. 
• Billing charges:  Add a flat charge to the account. 

In the Main Menu, click Tools, Billing/Finance Charges.

Date of New Charges:  Enter the date the new charges should be applied. 

Finance Charge:  If this is a finance charge, enter the charge percentage (APR).  An Adjustment will be added that equals one month (1/12) of APR charges. The adjustment type is determined by the setting in Account Module Setup, Finance charge adj type.

Billing Charge:  If this is a billing charge, enter a flat fee amount.  The charge will be added to the account as an Adjustment.  The adjustment type is determined by the setting in Account Module Setup, Billing charge adj type.

Age of Account:  Select the age of the accounts that should have the charge added. 

Only Apply to these Billing Types:  Select which billing types should have the charge added.

Undo Finance/Billing Charges:  Undo your most recent charge (finance or billing).  All adjustments made on the same date, which have the same adjustment type, will be deleted.  To undo finance charges for a different date, you must manually go into each account and delete the individual adjustment.  Use the Adjustment Report to identify the adjustments made on that date.

To see all the finance charges that were applied, run the Finance Charge Report.