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medical billing and coding

accounts payable

Debts incurred and not yet paid.

account receivable

Amounts owed to the physician.

account receivable trial balance

A method of determining that the journal and they ledger are in balance.

accrual basis of accounting

Method of accounting in which income is recorded when earned and expenses are recorded when earned and expenses are recorded when incurred.


The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.

balance sheet

A financial statement for a specific date that shows the total assets, liabilities, and capital of business.


The recording of business and accounting transactions.

cash basis of accounting

Method of accounting in which income is recorded when received and expenses are recorded when paid.

cash flow statement

A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period.

disbursement journal

A summary of accounts paid out.


The money value of a property or of an interest in a property in excess of claims or liens against it.

fiscal year

An accounting period of 12 months.

in balance

State in which the total ending balance of patient ledger equals total of accounts receivable.


A paper describing a purchase and the amount due.


Things that are owed; debts.

packing slip

An itemized list of objects in a package.

petty cash fund

A fund maintained to pay small unpredicable cash expenditures.


A request for payment.

statement of income and expense

A summary of all income and expenses for a given period.

trial balance

A method of checking the accuracy of accounts.

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