A list of all employees and their earnings, deductions, and other information is called
A payer's own check that is guaranteed by the bank is called a
Recording financial transactions in a bookkeeping or accounting system is called
Paper towels are considered
Amounts charged with suppliers or creditors that remain unpaid are referred to as
A collection ratio is
The total collections divided by net charges
The portion of salary held back from payroll checks for the purpose of paying government taxes is known as
What may be used by a payer as a third-party check?
A billing statement should include
The patient's name and address. Services rendered on each date. Balance due to the patient
What are the due dates for Employer's Quarterly Federal Tax Returns?
July 31. January 31. October 31. April 30
Aging accounts receivable
Is a tool to show the status of each account
A piece of paper describing a purchase and the amount due is known as an
Evaluation of collection is based on
The collection ratio and the accounts receivable ratio
What is a true statement regarding state unemployment tax?
A few states require both employees and employers to make a payment
The accounts receivable ratio shows
How fast outstanding accounts are being paid
What is the trial balance?
A way of checking the accuracy of accounts
Cash amounts that are paid out are called
A vendor's invoice should be kept on file for at least how long?
The reviewing of financial data to verify accuracy and completeness is called
What does debit mean?
When new supplies are received, you should
Place them in the back of the supply area
A bank draft is a check drawn by a bank
On its funds in another bank
The credit policies of a medical facility
Should include a specification of when the practice requires payment. Should be in writing
Petty cash may be used
For paying minor incidental expenses such as public transportation fares
What type of check is frequently used for payroll because it itemizes the purposes for the check and deductions?