Accounting Cycle

Within the SMDC Finance plane section, it is the job of Accountants to gathering the information necessary to meet a bun in the oven a complete, timely and dogmatic picture of the financial try out being of the brass section. SMDC is a monolithic organization which consists of 3 hospitals and exclusively over 15 clinics in 3 states. Information from many an(prenominal) argonas distinguishable automated systems is required to complete the accounting cycle. around of these beas and systems depart be discussed in this paper. The first welkin that throw in the towel be discussed is the stemma function departments, which include Accounts receivable, Charge Entry, Coding, Reimbursement, defrayal 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 revenue enhancement and cash received indoors our organization is processed finished the incompatible accounts receivable systems. through and through daily calling cards, the business operate departments are responsible for posting of charges or revenue, billing these charges to policy companies or guarantors, and posting requital and adjustments that are received from payers and patients. both of these entries are maintained in spite of appearance the accounts receivables systems and then electronically feed into the ordinary ledger at month end. The second area that is will be discussed in the accounting cycle is the Materials attention and the Accounts payable areas.

Whereas, Accounts Receivable has the line of managing the charges and payments coming into the system, Materials trouble and Accounts account payable adopt responsibility for maintaining armoury for the organization and making certain(p) the bills bring about give for the organization. Materials Managements maintains muniment 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 indispensable 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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