CentralReach’s accrued reporting module gives customers a way to close each period based on a specific cut off date. The cutoff date must be a calendar date and can be the 1st – 15th. The cut off cannot be based on business days (i.e. the 5th business day following the end of a month). Sales and payments will be based on this cut off date, however, the adjustments are always based on a calendar month. The module includes a summary view, month over month view and a detailed receivables breakdown view.
The summary view allows users to see each period as a row with the following information:
- Sales: All revenue for the given period
- Adjustments: All revenue changes happening within the current period for past period dates of services.
- Payments: All cash payments applied to the system including cash, check, electronic or credit card. It also includes payment types of bad debt, sales adjustments and refund.
To get the information on cash payments vs. non-cash payments this information can be found by:
- Navigate to Billing , then select Payments.
- Click the Applied dropdown and select Created.
The Created filter will tell you when a payment was specifically entered into our system, which is what correlates to payments with the accrued module. The payments module will default to showing only cash payments (i.e. cash, check, credit card and electronic). Once you search your period you can then get the totals of those cash payments.
To get the total of non-cash payments go to payment types and uncheck the cash payment types and check the non-cash payment types. The total of the cash plus the non-cash payments should match what is on the accrual module.
Receivables – Prior period’s ending receivables + Sales + Adjustments – Payments
The summary view also gives the aging by funding source vs. Co Pay for 0 – 30, 31 – 60, 61 – 90, 90 – 120, 121 – 150, 151 – 180 and 180+. Below is a sample view of the summary screen:
Month Over Month View:
Users can also view this on a month over month basis by funding source (i.e. payor). This can also be viewed by date range to look at a specific range month over month.
This view allows users to select a specific period and see a detailed breakdown of their receivables. It gives the same ranges as the summary of 0 – 30, 31 – 60, 61 – 90, 90 – 120, 121 – 150, 151 – 180 and 180+. This view allows users to view the receivables broken down three ways:
- Insurance Company > Insurance Plan > Client.
- Client > Insurance Company > Insurance Plan.
- Client Location > Insurance Company > Insurance Plan.