Technical Support

Balancing in VersaForm

MD VersaForm is a Practice Management Software package. It is an open item billing software which does not perform end of month closings. It has been designed to assist a medical practice keep track of claims, patient balances, and analize the practice from several perspectives. There are no "double entry" rules built in to force a balance. Use the following steps to assure yourself that the system is keeping accurate information from month to month:

Month One – Run report #12 from the Patient Ledger Reports menu. Do this at the end of the month. You can ask for the summary data only.

Month two and onward – Run report #5 or #6 or #8. These reports all show total activity for the period. You can ask for the summary data only. Do the following math:

From report #12 last month – the Practice total

Add the total charges for this month

Subtract the total payments for this month

Subtract the total adjustments for this month

Run report #12 again. This new practice total should equal the number from the above calculation.

EXAMPLE:

May 31st practice total from report #12 255,555

Plus June 30th total charges from report #8 125,666

Less June 30th total payments from report #8 65,345

Less June 30th total adjusments from report #8 49,567

Equals 266,309

June 30th practice total from report #12 266,309

System is in balance.

NOTE: Once you've completed this exercise and verified a balance it is very important that no changes be made to the data older that the balance. In this example no changes should be made to the charges, payments or adjustments from June 30th backwards. If some data is in error balancing or correcting entries need to be made with an explaination in the description field. It is also important that these reports be run at the same time – run report #8 and then report #12 with no data entry between running the reports. Generally this activity is on the last day of the month – or the day you want to check the balance.

Email your support questions to tech@versaform.com

This information is provided as a courtesy.  VersaForm Systems Corporation has provided this information "AS IS" without warranty of any kind – express or implied.  In no event shall VersaForm Systems Corporation be liable for any damages whatsoever including direct, indirect, incidental, consequential, loss of business profits or special damages.