Performing Financial Functions > Using the Financial Functions -- Adjustments Window
The transfer adjustment is used to transfer balances between responsible party, insurance, or patient accounts. More...More...
The transfer options enable you to transfer money between responsible parties, insurance carriers, and patients that are linked. The only transfer that enables you to transfer money outside of the family is the Responsible to Responsible transfer. When you select this type of transfer, a Browse button is displayed that enables you to select another responsible party to whom you can transfer money.
Rule for transfer adjustmentsRule for transfer adjustments
A patient has insurance
coverage that pays a portion of the contract amount — approximately
$1,200. During the course of treatment, the patient changes
jobs and no longer has that insurance coverage.
To transfer the insurance balance to the responsible party,
select the Transfer option button.
The software displays a window, prompting you for the type
of transfer and the accounts to transfer money between. Select
Insurance to Responsible and enter
the amount to be transferred in the Transfer Amt field. The
software calculates the effect on the account balances, and
the amount entered is taken out of the first account and added
to the second account.
If a patient changes jobs, causing their insurance coverage to change, add the new insurance carrier using the Responsible Party Information window, accessed from the Patient Information window. Then transfer the balance by selecting Insurance to Insurance. To prevent further transactions from being posted to the old carrier, change the Insurance Rank to 0 using the Ranking panel in the Patient Information window after the balance is $0.00.
A responsible party
wants to set up a contract but does not know if his insurance
covers orthodontic treatment.
In this case, set up a full contract for the responsible party.
When the insurance coverage is confirmed, you can transfer
the appropriate amount to the insurance company and set up
a contract for the insurance.
One responsible party is financially responsible for two patients. The responsible party overpays on one of the patient accounts, resulting in a credit. To transfer the credit from that patient to the sibling account, select the Patient to Patient transfer adjustment. Be sure the patient you are transferring from is selected in the patient box at the top of the window. Type the transfer amount. This brings the balance of the first patient to $0.00 and decreases the balance of the second patient by the transfer amount.
To make a transfer adjustment:
Select the Transfer option button in the Financial Functions — Adjustments window. The balances available for transfer are displayed in the center of the Financial Functions — Adjustments window.
In the Type of Transfer box, select the transfer type.
If you select the Responsible to Responsible transfer, a Browse button is displayed that enables you to select another responsible party to whom you can transfer money. Generally, you transfer money only between responsible parties connected to the same patient. (The responsible party is listed in the To Responsible field). Use the Browse button in the unlikely event that you need to transfer money to a non-related responsible party. Be sure to add adequate comments to the ledger, explaining the transfer.
In the Transfer Amt field, enter the amount of the transfer, and the software calculates the effect on the account balances and aging. If the total balance is greater than the current balance (indicating contract balances that have not yet rolled), the software by default applies the transfer amount to the total balance only. More...More...
If you need to transfer a portion of the current balance, use the Transfer Adjustment aging grid to indicate how much of the current balance needs to be transferred.
You can also use the Transfer Adjustment aging grid to indicate the age of the transferred amount. This is helpful when transferring money from insurance to the responsible party or to another insurance. You can, for example, transfer a 60-day-old balance from one insurance to another and indicate that it is a 60-day balance by using the Transfer Adjustment aging grid. Enter the transferred amount on the 61 to 90 Days line of the New section of the Transfer To portion of the grid.
After you have entered the transfer amount and adjusted the aging, 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.
Using the Financial Functions -- Adjustments Window
Making a Contract/Plan Adjustment
Making a Refund/Overpayment Adjustment
Making a Late Charge Adjustment