Working with Reports > Creating Financial Reports > Running the Financial Roll
There are two statement formats:
• Aging format statements are printed after accounts have been rolled.
• Due As of format statements are printed before accounts are rolled and include the next month’s contract charges.
Example: The due date is the first day of the month with a 10-day grace period.
Roll on 1st—Apply Contract Charge and Age.
Roll on 11th—Late Charge and Age - All Amounts Due (uses a 10-day grace period).
Statements—Aging Format
Run on the 15th for All Positive Due Now.
Example: The due date is the first day of the month.
Roll on 1st—Apply Contract Charge, Late Charge and Age - Late Charge Amounts +30 and older.
Statements—Aging Format
Run any day after the roll for all accounts with positive balance or past due only.
Do not perform a roll and late charge during the month and later perform a late-charge-only roll. Some due dates and late charges will not be processed correctly. If you have done this, you might need to wait 30 days before performing a roll that includes the late charge function.
Example: Due dates are spread throughout the month with a 10-day grace period.
Daily—Roll, Late Charge, and Age - Late Charge All Amounts Due (10-day grace period).
Example: Due dates are on the 5th day and 20th day of the month with a 10-day grace period.
5th day — Roll, Apply Contract Charge, Late Charge, and Age - Contract thru date 5th; Late Charge All Amounts Due (10-day grace period). Accounts that were rolled in last month on the 20th should receive a late charge.
20th day — Roll, Apply Contract Charge, Late Charge, and Age - Contract thru date 20th; Late Charge All Amounts Due (10-day grace period). Accounts that were rolled in earlier this month on the 5th should receive a late charge.
Example: Due dates are on the 5th day and 20th day of the month with a 10-day grace period.
5th day — Roll, Apply Contract Charge and Age - Contract thru date 5th.
16th day — Roll, Apply Late Charge and Age - Late Charge All Amounts Due (10-day grace period). Accounts that were rolled in on the 5th should receive a late charge.
20th day — Roll, Apply Contract Charge and Age - Contract thru date 20th.
1st day — Roll, Apply Late Charge and Age - Late Charge All Amounts Due (10-day grace period). Accounts that were rolled in last month on the 20th should receive a late charge.
Example: Due dates are on the 5th day and 20th day of the month.
10th — Print statements for All Positive Due Now to send to those accounts charged on the 5th that have not yet paid.
25th — Print statements for All Positive Due Now to send to those accounts charged on the 20th that have not yet paid.
There will be some duplication of statements if the accounts charged on the 5th have still not paid when statements are printed on the 25th.
Example: Due dates are on the 5th day and 20th day of the month.
30th—Print statements for All Positive Due Now only once a month to prevent duplicate statements from being sent.
Example: Due dates are on the 5th day and 20th day of the month.
21st—Print statements for 30+ Day Balance prevents duplication but can slow cash flow. Statements would not be sent to those just charged in the previous month on the 5th and 20th, since the balance is not yet 30 days old, but would be sent to those who have not yet paid the month before.
“Due as of” statements are designed to be printed before you roll for the month.
Example: All due dates are on the 1st day of the month.
Print statements on Feb. 5 with the bill date on the statements set to March 1 (entered in the Bill Date field on the Statements window). This shows patients what they owe this month, as well as the amount that is due as of March 1.
Example: Print statements twice a month.
On the last day of the month (9/30), roll accounts for contracts due through 9/30. After the roll, generate statements for Oct. 16-30.
On 10/15, roll accounts for contracts due through 10/15. After the roll, generate statements for Nov. 1-15.
This method gives you a little “breathing room.” If you do not have time to generate statements after running the roll, you can generate statements in the next few days and still have enough time to electronically transmit or mail the statements.