Kinns Chapter 22

23 terms by ashbug28

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account

a statement of transactions during a fiscal period and the resulting period

account balance

the amount owed on an account

accounts receivable ledger

a record of the charges and payments posted on an account

credit

an entry on an account constituting an addition to to a revenue, net worth, or liability account; the balance in a person's favor

credit cards

devices issued by a bank or other financial institution, retail stores, and other businesses that allow the card holder to make purchases prior to paying for them; the card holder is then billed, usually after interest has been added

debit cards

cards that look like credit cards and by which money can be withdrawn, bills paid, or purchases made directly from the holder's bank account without the payment of interest

debit

an entry on an account representing an addition to an expense or asset account or a deduction from a revenue; a net worth, or a libality account

disbursements

funds paid out

fee profile

a compilation of pre-estabilshed fee allowances for given services or procedures

fiscal agent

an organization under contract to the government (as well as some private plans) to act as financial representatives in handling insurance claims from providers of healthcare; also refered to as fiscal intermediary

instigate

to goad or urge forward; to provoke

medically indigent

able to take care of ordinary living expenses but unable to afford medical care

payables

balances due to a creditor on an account

pegboard system

an older method of tracking patient accounts that allows the figures to be proved accurate through mathematic formulas. it is still used in some small to medium practices; also called the write-it-once system

posting

entering figures in an accounting system; transferring or carrying from a book of original entry to a ledger

preponderance

a superiority or excess in number or quanity; a majority

professional courtesy

reduction or absence of fees to professional associates

receipts

amounts paid on patient accounts

receivables

total monies received on accounts

secured

a loan or line of credit that is backed by a pledge of payment and usually obtained using collateral

transaction

an exchange or transfer of goods, services, or funds

trustee

a person to whom property is legally committed to be administered for the benefit of a beneficiary or held by an administrator to be distributed to multiple individuals or businesses

unsecured

a debt that is not protected by collateral

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