By Michelle Campoli, CVT, CVPM
What is the difference between writing off and adjusting an account for a client who owes money to the practice? Think of ‘adjusting’ as forgiving the debt without repercussions and ‘writing off’ as cleaning up the books, but still holding the client accountable for the balance due (either sent to collections or considered a bad debt).When writing off a client account, several things will occur:
1. The client (and all patients) is inactivated.
2. The client balance is set to zero (and statements are no longer sent).
3. ‘Client Written Off’ alert created.
4. Triggers a warning when scheduling an appointment or reservation.
5. Will no longer be able to invoice or collect payments on the account unless the client is reinstated.
Adjustment details can be tracked on the Monthly Adjustment Summary and Daily or Itemized Audit Trail reports. Write off details are found on either the yearly Account Write Off reports or the Daily or Itemized Audit Trail reports. Both adjusted and written off amounts appear on the Daily Revenue and Daily Summary reports. To view these amounts on an end of year basis, simply run a combined closed period Daily Summary report:
1. Go to Reports > End of Period > End of Day.
2. Select the Daily Summary Report in the Report List window.
3. Using the Shift key, select the first and last closed daily periods for the desired date range in the Daily Periods window.
4. Click Preview to review the information, and then print, save to file or close the report.
TIP: To see these steps in action and get tips on other client account management topics, check out the client account snippet library.
Michelle Campoli loves teaching people how they can do more with Cornerstone. When she’s not sharing her favorite tips and tricks in one of our Cornerstone user group meetings, Michelle enjoys spending time with her husband, cat, and three retired greyhounds; playing in her kitchen and volunteering for her local greyhound adoption group.