CentralReach’s Accrued Reporting gives customers a way to close each period based on a specific cutoff date. The cutoff date must be a calendar date and can be the 1st – 15th. The cutoff 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 date, however, the adjustments are always based on a calendar month. Accrued reporting 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
For information on cash payments vs. non-cash payments:
- Navigate to the Billing module and select Payments
- Click the icon 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 section defaults to showing only cash payments (e.g. cash, check, credit card, and electronic). Once you search your time period, you can then get the totals of those cash payments.
For the total of non-cash payments:
- Click on the Payment Types drop-down 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 view this on a month over month basis by funding source (e.g. 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
Click here to learn how to download the Accrual Details and Accrual Payment Details reports.