Budget Planning > Handling Account Budget Plans

Transferring Account Balances to a Fixed Loan Budget Plan

You can set up a fixed loan budget plan for a fixed amount. The loan amount is to be repaid at a specified interest rate over a specified number of payments.

To transfer an account balance to a fixed loan budget plan:

1. Select an option:

2. Select List > Account.

3. Select Account List Window in the Power Bar. See Using the Power Bar for more information.

4. From any window, press Ctrl + A.

The Account list window is displayed in FIND mode.

2. Click anywhere in the list area or press Enter to switch to SCAN mode.

3. Select the account and select Transfer to BP (Z) from the Options section of the Express bar or Options menu. The Account Payments window is displayed in Budget Plan Transfer mode. The outstanding balance for each patient assigned to the account is displayed.

If the selected account is associated with Insurance Calculation Method 1 (ICM1) or Insurance Calculation Method 2 (ICM2):The patient portion of any outstanding claim is not included in the amount that can be distributed until the final insurance claim payment is posted.

The patient portion of the balance minus any insurable amounts is the default value in the PAYMENT and ADJ BAL columns.

4. Select an option:

5. To transfer the balance (the amount displayed in the PAYMENT column) for all patients associated with the account to an account budget plan:Select Post from the Options section of the Express bar or Options menu.

6. To transfer a specific amount of the balance to the budget plan:Select Edit Distributions from the Options section of the Express bar or Options menu, type the appropriate amount in the PAYMENT column, click OK, and select Post from the Options section of the Express bar or Options menu. The distribution amount cannot exceed the adjusted balance amount.

• You cannot change the ICM for the account when there is an outstanding budget plan balance.

The Account Budget Plan window for fixed loans is displayed.

If the transferred amount exceeds the default credit limit of $500:A warning is displayed informing you that the credit limit is exceeded.

To extend the credit limit, click Yes.

• If Enable REVOLVING CREDIT is selected in the General System Settings window, a message that asks you whether to open a revolving account budget plan is displayed. Click No to apply a fixed account budget plan to the account. To apply a revolving credit budget plan to the account, see Setting Up Account Balances for a Revolving Credit Budget Plan.

The Account Budget Plan List window is displayed.

The account information, the loan amount, and the payoff amount are displayed at the top of the window. A code 48 line item detailing the budget plan amount is displayed.

5. Select Terms from the Options section of the Express bar or Options menu. The FIXED LOAN TERMS window is displayed.

The transferred payment amount is displayed in the Credit Line, Loan Amount, and Loan Payoff fields. The default value for the Interest Starts on or after field is the first day of the next calendar month. The loan amount divided by twelve months is the default value of the Payment Due and Regular Monthly fields.

6. Type the annual interest rate in the Interest Rate field.

7. Select an option:

8. Type the number of loan payments in the No. of Payments field.

9. Click the drop-down button next to the No. of Payments field:The Compute Number of Payments window is displayed. Type the maximum monthly payment amount in the Monthly Payments not to exceed: field and click OK. The number of payments required to meet and not exceed the loan amount is displayed in the No. of Payments field.

Example:If the loan amount is $1,384.00 and the annual interest rate is 18%, select the No. of Payments drop-down list and enter the maximum payment amount ($200) in the Compute Number of Payments window and click OK. The number of payments is calculated and displayed in the No. of Payments drop-down list.

8. Click OK. The current payment due and monthly payment amount is calculated and displayed in the Payment Due and Regular Monthly fields located at the bottom of the Account Budget Plan List window. The amount required to pay off the budget plan is displayed in the Loan Payoff field. The loan payoff amount increases when interest charges are applied and decreases when payments are posted to the budget plan.

9. To print fixed budget plan coupons, select Coupons from the Options section of the Express bar or Options menu. The Print Coupon window is displayed. Click the drop-down arrow to display a calendar, and select the date that should appear on the first coupon. Click OK. The Output Options window is displayed. Select the appropriate option and click OK.

10. To specify a budget plan coupon format, see Selecting Budget Plan Coupon Formats.

10. To print the federally mandated statement specifying the loan details for the account guarantor’s signature, select Truth in Lending Form from the Options section of the Express bar or Options menu. A message asks you to confirm your request. Click Yes. The Output Options window is displayed. Select the appropriate option and click OK.

11. You must print this form before you can exit the Account Budget Plan window.

11. Click Close twice.