Archive for December, 2006

Quicken export now available for export from payroll program

Monday, December 18th, 2006

We now supports export to all versions of Quicken. If you are using Quicken 2005 or later, you can now set up export under Preferences in the Setup section of your account. Note: Make sure to read the special instructions for newer versions of Quicken in our printable setup instructions. AccountingParadise Payroll program.

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How to find posting errors before you close your books

Wednesday, December 6th, 2006

Here is a great bookkeeping tip from Karen Schneider article from the December 2006 issue of The General Ledger.

To find posting errors in the income statement accounts on QuickBooks: 

1.     On REPORTS, click COMPANY & FINANCIAL.

2.     Click PROFIT & LOSS STANDARD.

3.     Change the date span, if needed, to Jan 01, 2006 thru Dec 31, 2006.

4.     To study the report in “Accrual Basis� (for accuracy),  click MODIFY REPORT in the top left-hand corner. When the window appears (“Modify Report: Profit & Loss�), look under the 2nd section, “Report Basis,� and click ACCRUAL, then OK. The upper left corner of report will confirm “Accrual Basis� reporting, the current date and the time created.

5.     Double-click the TOTAL INCOME figure and examine entries for errors. To view an original form, double-click the particular transaction.  

6.     Use the Esc key (or red X on form) to close a detail window and return to the P&L report you created.  

7.     Scroll to the bottom of P&L and look directly above “Net Ordinary Income� and double-click the TOTAL EXPENSE figure.

8.     If a transaction is posted to the wrong account, double click anywhere on it and, when the original form opens, post it to the right account. Save and close. 

To find posting errors in “Other Income� on QuickBooks, follow the same procedure.

 

To find posting errors in balance sheet accounts on QuickBooks:

1.      Reconcile the final bank statement. Reconcile liabilities such as business and car loans, credit cards, lines of credit, etc., against available statements. Tip: Attach copies of bank or other liability statements to the balance sheet as proof of accuracy.

2.     Click the drop-down menu REPORTS.

3.     Click COMPANY & FINANCIAL.

4.     Click BALANCE SHEET STANDARD.

5.     Correct the date, if needed, to 12/31/06 (a balance sheet has only one date—the “as of� date—unlike the P&L’s beginning and ending dates).

6.     To view the report in “Accrual Basis,� follow the directions above using “For the income statement� in step 4

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Are you looking for medical billing?

Tuesday, December 5th, 2006

Michael is one of our bookkeepers we work and he offers medical billing. Here is his explanation about the process and pricing. Do not hesitate to contact him if interested in medical billing service.

The way medical billing works is,
1 after signing a contract ( generally one year, can be longer if agreed to) the doctor will fax over all of his or her info such as provider ID numbers, type of medical practice, address where his or her payment check will be mailed to by the insurance company, a list of insurance companies that they bill to a long with a little other info.
2 Then I will setup their practice in my computer, and get them setup with the clearing house (there is NO charge for setup). For government payers such as Medicare and Medicaid it will take up to six weeks before I can send those claims electronically because of paper work that have to be signed by the provider and sent to the government payer for authorization to transmit claims to them. After that’s done, I can then transmit claims to them. But, until that’s done I can mail paper claims to those government payers. All commercial payers such as united health, aetna, etc, those payers do not need any paper work done first. I can start transmitting to them right away.
3 The doctor will see a patient and then fax over a super-bill (a form where the doctor will note down the patient name address insurance company and CPT, and ICD9 codes). I will then enter that patient into the computer and prepare the medical claim (cms 1500 form) and transmit or mail to the insurance company. The doctor can fax the super-bills daily or weekly or as often as they like.
4 The insurance company will pay the claim by sending a check and an EOB (explanation of benefits) to the doctor. Then the doctor will fax the EOB to me so I can see that he or she has been paid for that claim and also see if I need to send a claim to the second payer (most first payers will forward the claim to the second payer). After I have seen that the doctor has been paid for the claims that I have sent, I then bill him or her for those claims. another advantage or selling point is the doctor does not pay for the service until they have been paid by the insurance company. I generally bill once a month.
5 I will send reports to the doctor if they want or need them.
PRICING
There are 2 levels of service.
1 just medical billing, where I only send claims
2 full service billing, where I send claims and maintain the patient account by recording the insurance payments and billing the patient for co-pay.
There is a “per claim” rate of $3 or 6% of the amount that the doctor bills on the claim. (which ever fits they needs best, 30 claims or less per month they may want the “per claim” rate). If it is a group of doctors or one that files a high volume of claims, a flat rate can be offered, you can call me and we will put together a rate.
Note: Acupuncturist need medical billing as well.
I am HIPAA complaint (medical people will know what that means)
Contact: Mike at hbss@sbcglobal.net

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