Managing Your Practice > Managing Collections
To enter a check sent to your practice by a collection agency, create an adjustment code called COLLCHK, with a description of Collection Check Received.
To create an adjustment code for collections:
Select Lists > Transaction Codes. The Transaction Code List window is displayed.
Select Adjustment Codes.
Click Add.
Fill in the Abbreviation field with the desired code label, such as COLLCHK.
Select Adj (other) as the Code type.
Select Increases balance.
Type an appropriate description of the transaction in the Description field.
Click OK.
Use this code to debit the patient’s ledger in the amount of the collection check, and then post the check to return the balance to zero. This accounts for the money received.
The check received is only for the office’s percentage of the collection. Contact your collection agency each year to determine the amount that they reserved as their portion.
The next time you run the Accounts Receivable Report (File > Print > Accounts and Receivables > Account receivable), the total will reflect the amount that has been written off as bad debt.
Counting Patients Sent to Collections
Using the Accounts Still in Collections Contact Expert
Using the Sent to Collection Agency Form