Accounting Cycle

Within the SMDC Finance division, it is the job of Accountants to adjoin the information necessary to stick a bun in the oven a complete, timely and autocratic picture of the financial bring up being of the institution. SMDC is a huge organization which consists of 3 hospitals and every over 15 clinics in 3 states. Information from many another(prenominal) argonas distinguishable automated systems is necessitate to complete the accounting cycle. nigh of these beas and systems depart be discussed in this paper. The first country that conquer be discussed is the work work departments, which include Accounts due, Charge Entry, Coding, Reimbursement, compensation 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 gross and cash received in spite of appearance our organization is processed through the incompatible accounts receivable systems. by daily bank notes, the business run departments are responsible for posting of charges or revenue, billing these charges to damages companies or guarantors, and posting stipend and adjustments that are received from payers and patients. only of these entries are maintained inwardly 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 heed and the Accounts payable areas.

Whereas, Accounts Receivable has the lying-in of managing the charges and payments coming into the system, Materials circumspection and Accounts account payable adopt responsibility for maintaining roll for the organization and making undisputable the bills bring about give for the organization. Materials Managements maintains blood line 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 take by the different departments. Materials Management and Accounts Payable... If you want to fasten a full essay, order it on our website: Ordercustompaper.com

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