office management
packing slip
list of supplies packed and shipped
compare to boxed items
A/R
accounts receivable
amounts owed to a business for service or goods
FICA
Federal Insurance Contribution Act
Social Security
posting
entering data to A/R and A/P forms
cycle billing
each patient billed once a month but groups split into sections
invoice
describes purchase and amount due
compare to original request and packing slip
A/P
accounts payable
amounts charged with suppliers or creditors that remain unpaid
FUTA
Federal Unemployment Tax Act
superbill
combination charge slip, statement and insurance reporting form
age analysis
process of classifying and reviewing past due accounts
W-4
Employers Withholding allowance Certificate
assets
possessions of value:
equipment, buildings, A/R
EIN
Employer (Tax) Identification Number
reconciliation
process of verifying bank statement against checkbook
collection guidelines
8am-9pm
1st letter at 30 days past
2nd letter at 60 days past.....
W-2
wage and tax statement end of each year
trial balance
method of checking accuracy of accounts
done monthly
ECOA
Equal Credit Opportunity Act
debit vs credit
debit= AKA charge recorded
credit=payments received
FCRA
Fair Credit Reporting Act
correct and complete into to evaluate credit application
petty cash
pays small unpredictable cash expenses
liabilities
amounts owed to creditors:
mortgage, utilities, etc.
TLA
Truth in Lending Act
NSF
non sufficient funds
FDCPA
Fair Debt Collection Practices Act
treat debtors fairly
no harassment
no false statements
no threats