Mod C Unit 1 Terms

The process of logging charges and receipts in chronological order each day.

Comparison of the office's financial records with bank records to ensure they're consistent and accurate; done monthly.

Appears the in the upper right corner of printed checks; identifies the geographic area and bank the check draws from.

The systematic recording of all business transactions.

A check that is void after a certain time limit; commonly used for payroll

DOS stands for date of service

A check made out to one recipient and given in payment to another; made out to a patient rather than the medical office

Certificate of guaranteed payment, which may be purchased from a bank, post office, or some convenience stores

The payee is the party receiving a payment

Special bank check that allows a depositor to draw funds from their own account, as when they have forgotten checkbook

Manual bookkeeping system; daily log which holds patients ledger card, pay sheet and charge sheet where an entry is made

Payer's check written and signed by the payer, stamped certified by the bank.

The payer is the party paying a bill or writing a check

System of recording and summarizing business and financial transactions and analyzing, verifying, and reporting results

System showing the cash on hand at the start of a period, income/disbursements made during the period, and amount at end

Cash kept on hand in the office for small purchases

A check purchased and signed at a bank and later signed over to a payee.

Bank check issued by a bank and signed by a bank representative; usually purchased by individuals w/out checking account

Signature on the back of a check with the terms for accepting the check as payment.

Watching for changes in spending so as to help control expenses.

A business check with an attached stub, which is kept as a receipt.

A bank draft or order written by a payer that directs the bank to pay a sum of money on demand to the payee.

Legally transferable from one person to another

The original record of services performed for a patient and the charges for those services.

The legal right to act as the attorney or agent of another person, including handling that person's financial matters.