Making a Balance Adjustment

The balance adjustment option enables you to make changes to the account balance when none of the other adjustment options apply. More...

A balance adjustment is the only way to reverse a bulk payment. Be sure to include the original entry with the date, carrier name, and check reference number in the Comment field.

This option should be used only as a last resort. All of the financial reports are designed to provide detailed tracking of adjustments, and overuse of this adjustment type will distort your statistics.

With this adjustment type, you have the option to adjust the total balance, current balance, or both total and current balances.

Rule for balance adjustments

To make a balance adjustment:

Select the Balance Adjustment option button in the Financial Functions — Adjustments window. The balances available for adjustment are displayed in the center of the Financial Functions — Adjustments window.

In the Account to Adjust box, select whether you want the balance adjustment to affect the responsible party balance or the insurance balance.

The amounts shown in the Actual column of the Balance Adjustment section reflect the amount owed by the responsible party or insurance carrier for the selected patient only.

In the Balance Adjustment box, select the balance adjustment type.

In the Adjust Amt field, type the amount of the balance adjustment, either as a positive or negative amount. The software calculates the effect on the account balances and aging. You can also use the Balance Adjustment grid to adjust specific amounts and modify the aging.

After you have entered the adjustment amount, review the default comment displayed in the Comment section. Add your own comment at the end, or select and replace the comment.

Click the Post Transactions button to update the selected accounts.

When entering balance adjustments, you can enter the amount of the adjustment in the Adjust Amt field or the Adj (+/-) section of the Balance Adjustment grid. You can also enter the new balance in the New section of the Balance Adjustment grid. If you enter amounts into the Balance Adjustment grid, the software automatically calculates the aging.