Accounting Cycle

Within the SMDC Finance subdivision, it is the job of Accountants to benefit the information necessary to collect a bun in the oven a complete, timely and inviolate picture of the financial turf out being of the governance. SMDC is a outsize organization which consists of 3 hospitals and all in all over 15 clinics in 3 states. Information from numerous argonas distinguishable automated systems is demand to complete the accounting cycle. many of these beas and systems depart be discussed in this paper. The first subject that earmark be discussed is the telephone line operate departments, which include Accounts receivable, Charge Entry, Coding, Reimbursement, retribution notice and Customer Service. The Business Services department maintains the accounts receivable. The Accounts Receivable systems include Epic for the clinical areas and HBOC for the hospital areas. The majority of tax income and cash received in spite of appearance our organization is processed done the incompatible accounts receivable systems. done daily bill of fares, the business run departments are responsible for posting of charges or revenue, billing these charges to indemnification companies or guarantors, and posting retribution and adjustments that are received from payers and patients. tout ensemble of these entries are maintained inside the accounts receivables systems and then electronically cater into the ordinary ledger at month end. The second area that is will be discussed in the accounting cycle is the Materials counseling and the Accounts payable areas.

Whereas, Accounts Receivable has the confinement of managing the charges and payments coming into the system, Materials caution and Accounts collectible adopt responsibility for maintaining stock-taking for the organization and making sure the bills bring about stipendiary for the organization. Materials Managements maintains scroll for the organization. It is the responsibility of this department to maintain accurate inventory levels to adequately stock the organization with supplies and other items that are infallible by the different departments. Materials Management and Accounts Payable... If you want to fasten a full essay, order it on our website: Orderessay

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