Mystery of Closer

Donna MagnusonA/R Consultant

AgendaWhy should I close?

Closing Transactions

Pre-closing Process

Closing

Review of the Reports

Duplicating the Numbers

Why Should I CloseThe moment you click the OK button in Closer, closing looks at your entire database, calculates the totals for the closing reports, and locks transactions into a period (this doesnt mean you cant make changes to charges or credits)The data is written to separate period_close tables in the database that never changeThe numbers will make your accountant smile

Why Should I CloseIf you dont close, you are always chasing a moving target Adjustment periods dont exist, each period gets updated as the transactions changeYou can never go back in time and run a report to match a previously run report. The data always changes

Mystery of CloserClosing Transactions

Closing TransactionsCharges use TRIP DATE

RN assigns Charges to the period of the TRIP DATE unless the period is closedIf the period of the TRIP DATE is closed then RN assigns the charges to the next open period and is reflected as a Charge Adjustment

Closing TransactionsFor example, if you are closing 201104.

All charges with a trip date of 04/01/2011 through 04/30/2011 will be included as a Charge in PeriodAll charges that have been added or deleted for trips prior to 04/01/2011 will be included as a Charge Adjustment

Mystery of Closer

Lets look at some Charge examples

Closing TransactionsThe Last Period Closed and the next period To Close is shown in the Closing Companies screen within closer201104 is the current open period

Closing TransactionsScenario 1 Mileage Charge was modified 3 months after the trip datePost Date = 7/15/2011, Trip = 4/8/2011, Open period = 201104Period assigned 201104

Closing TransactionsEven though the mileage was modified on 7/15/2011, because the 201104 period was still open, the period assigned is 201104

Closing TransactionsWhen you close 201104, both the base rate and mileage will be included in the Charges in Period on the Closing reports

Closing TransactionsScenario 2 Charges were added to a trip 4 months after, but the trip period was already closed Post Date = 7/15/2011, Trip = 3/28/2011, Open period = 201104The system cant apply these charges to the period 201103 because it is already closed, therefore the Adjustment period of 201104 gets assigned

Closing TransactionsWhen you close 201104, both the base rate and mileage will be included in the Charge Adjustments on the Closing reports

Closing TransactionsScenario 3 Charge AdjustmentA0427 applied when the period 201103 was open, A0427 was deleted and A0433 was added after 201103 was closedPost Date = 7/15/2011, Trip = 3/24/2011, Open period = 201104Both the reversal of A0427 and the new charge A0433 are assigned the adjustment period of 201104

Closing TransactionsWhen you close 201104..A negative -700.00 will be included as Charge AdjustmentA positive $500.00 will be included as a Charge AdjustmentThe net amount of -200.00 will be reflected in the ChargeAdjustment total and account receivable

Closing TransactionsCredits use DEPOSIT DATE

RN assigns Credits to the period of the DEPOSIT DATE unless the period is closedIf the period of the DEPOSIT DATE is closed then RN assigns the credits to the next open period and is reflected as a Credit Adjustment

Closing TransactionsFor example, if you are closing 201104.All credits with a deposit date of 04/01/2011 through 04/30/2011 will be included as a Credit in PeriodAll credits that have been added or deleted for deposit dates prior to 04/01/2011 will be included as a Credit Adjustment

Closing TransactionsScenario 1 payments were added with a deposit date within the current open periodPost Date = 7/15/2011, Deposit Date= 4/28/2011, Open period = 201104Period assigned 201104Check Date does not matter, only for reference

Closing TransactionsWhen you close 201104, both the payments will be included in the Credits in Period on the Closing reports

Closing TransactionsScenario 2 credits were added with a deposit date of a closer periodPost Date = 7/15/2011, Deposit Date= 3/15/2011, Open period = 201104Period assigned Adj 201104201103 is closed, since the system cant place transactions in a closed period, it assigns it as an adjustment to the next open period

Closing TransactionsWhen you close 201104, both the payments will be included in the Credits Adjustments total on the Closing reports

Closing TransactionsScenario 3 Credit AdjustmentOriginal payment posted on 1/19/2011, deleted on 7/15/2011 and reposted with the same deposit dateEven though the payment was posted with the same deposit date, the original period cant be re-assigned. The reversal and new payment is assigned an Adj period. The net for the new period is $0

Closing TransactionsIf you run a report for the credit adjustment period (-201104) ,you wont see the transactions, the net affect is $0.00.

Closing TransactionsTo keep the integrity of original payments posted intact is not recommended that you delete payments. However, there are times when you need to reverse the payment so you can bill another carrier.

The following is recommended;

Closing TransactionsCreate a credit called Payment ReversalMake sure the Type and Credit As show as a RefundPost 1 Payment Reversal for the full amount of the payment (base rate + mileage) and post a total (-) amount in the coinsurance

Closing Transactions

The refund will put the $298.47 balance back on the accountChange the primary payor and bill the insuranceDelete the Payment Reversal

** Run a credit report at the end of the month for all Payment Reversals, amount should be 0.00

Mystery of Closer

Steps to Closing

Mystery of Closer

Following these steps will help you balance reports in the future and make the numbers meaningful

Steps to ClosingAll trips must be completed or cancelled

This screen will appear when closing if there are unresolved Open trips

Steps to ClosingIf you dont have charges default, make sure that all trips have charges assignedIf you have multiple Companies and have Profit Centers defined, make sure all trips have the correct Company and Profit CenterAll payments with the current months deposit date are entered with the corresponding dateIt is recommended that you close when no one is actively working accounts

Mystery of Closer

How to check this..

Steps to ClosingSet up a workflowStatus=exclude all cancelled

Steps to ClosingRun the workflow, only include the current months trip dates i.e. if closing Jun 2011, set trip dates 06/01/2011 to 06/30/2011Make sure the columns are visible; Profit Center, Company, Charges, and Status

Steps to ClosingIf the monthly trips will exceed 1,000 check this box so you get all of the trips for a month

Steps to Closing

Steps to ClosingSort the workflow by Company identify all trips that have a Company of

Sort the workflow by Profit Center identify all trips that have a Profit Center of \

Sort the workflow by Status identify all trips that have a dispatch status other than cancelled, i.e. Open, Assigned, Net transit, etc.

Sort the workflow by Charges identify all trips that have $0 charges

Steps to ClosingPaymentsPost payments to balance to your bank statementPost Payments with the corresponding bank deposit dateEither account for all payments i.e. interest, collection payments, etc. in the system and/or on a separate spreadsheetInsurance Take backs need to be represented as a Refund not a (-) payment. RescueNet forms and ecms dont respect (-) payments.If you use the Payment Reversal, run a credit report and make sure you dont have any trips that you forgot to delete the credit.

Steps to ClosingBankRN

Mystery of ClosingIm Ready to Close

ClosingGo to Administration>Advanced>Run Process

ClosingSelect Close Account Period

ClosingShows Last Period ClosedShows Next Period to Close

Steps to Closing

If you have never closed, you have to start with the first period for each company and close You dont have to print the reports. Unselect the checkboxesIf you have a PDF printer installed, select it as the default and the reports can be saved to PDFYou can close multiple companies at onceClick the Select All buttonClick on the Ctrl key and with your mouse, select the trips you want to closeHighlight the first company, click on the Shift key and select the last company which will highlight all companies in between

ClosingOnce companies and reports are selected, Click on Close Period

ClosingA confirmation box will appear, select OK

ClosingDepending upon the amount of data, the closing process can take anywhere from 5 minutes to over an hour

Mystery of Closer

Closing Reports

Review of ReportsThis report shows the changes in your financial situation since the last closed period. Heres the formula:

Previous Balance (AR). The previous Closings Balance Forward.+ Charges in Period. Charges that are posted to trips with a trip date in the accounting period you are closing. Credits in Period. Credits posted with a deposit date in the accounting period you are closing.+ Charge Adjustments. Charges posted to trips during this accounting period belonging to a previously closed accounting period. Credit Adjustments. Credits posted with a deposit date belonging to a previously closed accounting period.__________________________________________________

= New Balance Forward (AR).

Closing Balance Summary

Review of Reports

The Payor Aging reports Grand Total is the number that everything should balance to. The system balances the Total from the Closing Balance Summary (Charges-Credits+Charge Adj-Credit Adj) to the Closing Payor Aging reports Grand Total. If there is a discrepancy, a Miscellaneous Adjustment appears on the Closing Balance Summary.

Review of Reports

Review of ReportsIf you see a Miscellaneous Adjustment, contact ZOLL Technical Support Department

We have a fix for all miscellaneous adjustments where we can locate the issue.

There is currently a escalation open to evaluate a new misc adjustment issue

Review of ReportsThe Credits in Period represents all Credits i.e. payments, contractuals, refunds, write-offs, and revenue adjustment. The Credits in Period represents all Credits i.e. payments, contractual allowances, refunds, write-offs, and revenue adjustments

CloserClosing ReportsClosing Balance SummaryCharge Summary for Period ReportCharge Summary Adjustments made within periodCredit Summary for Period ReportCredit Summary Adjustments made within periodPayor Summary for Period ReportPayor Summary Adjustments made within periodPayor Aging ReportMiscellaneous Adjustment Accounting Summary ReportMiscellaneous Adjustment Accounting Report

Duplicating the NumbersBalancing RescueNet Reports to my Closing Reports?

What do you mean my reports dont balance

Duplicating the NumbersKnown reasons why I cant balance?

The company on a trip that was originally included in a closed period was changedTrips are attached to companies, even though the original transaction was tied to the old company, the database structure prevents the old transactions to appearThe Credit As tied to credits doesnt match the description

Duplicating the NumbersSelectors have to be set accordingly

Period selector must be restrictedThe Show Reversing Charges/Credits selector must have not restrictionTrip Date selector must be restricted: Billing Go Live (BGL) date to current date closer only includes trips from the BGL date but the reports do notThe Status selector must have no restrictions

Duplicating the NumbersRunning a report to match to the Charges

Choose any charge report that has a period selectorIf you have multiple companies, make sure only the applicable company is selectedIf your companies have multiple profit centers, make sure only the applicable profit center is selectedChoose the (+) period, do not include the negative period

Duplicating the NumbersRunning a report to match to the Charge Adjustments

Choose any charge report that has a period selectorIf you might have recent transactions prior to go-live, set the trip date from go-live to the last closed period prior to the period you are trying to balance.If you have multiple companies, make sure only the applicable company is selectedIf your companies have multiple profit centers, make sure only the applicable profit center is selectedOnly include the negative period, -200804

Duplicating the NumbersRunning a report to match to the Payments

Choose any Credit report that has a Period selector and Deposit Date selectorInclude the positiveChoose the (+) period, do not include the negative period Select all the payment credits

Duplicating the Numbers

Duplicating the NumbersPicking the correct credit is a key to balancingCloser uses the Credit As that is determined for a creditIf you think the credit is a payment based on the description but the credit is something else, you wont balance

Duplicating the NumbersStart all credit descriptions by the type first so that they are grouped together and it is clear what they are

Duplicating the NumbersThis is where the confusion begins, when the description is not reflective of the type

Duplicating the NumbersRunning a report to match to the Credit Adjustments

Choose any credit report that has a period selectorIf you have multiple companies, make sure only the applicable company is selectedOnly include the negative period, -200308Select the specific credits; payments, contractuals, etc.

Duplicating the NumbersRunning a report to match to an Aging

A change was made to the Aging reports to help determine an aging balance based on an As of date.The reports were made to go back in time to capture the balance and not necessarily to guarantee they would balance to closer.

Duplicating the NumbersRunning a report to match to an Aging

You need a report that has the period selectorDont use the reports that start with a *The report will need to have the As of box pop up

Duplicating the NumbersInclude all periods from Billing Go-live including the period you are trying to balance. Make sure to exclude all future periods

Duplicating the Numbers

Questions????????

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