• If this is your first visit, be sure to check out the FAQ & read the forum rules. To view all forums, post or create a new thread, you must be an AAPC Member. If you are a member and have already registered for member area and forum access, you can log in by clicking here. If you've forgotten the password it can be reset on our sign in section by entering your registered Email Address or Username here. To start viewing messages, select the forum that you want to visit from the selection below..

Wiki What's your system for tracking deposits & payments?

Create Wiki
J

jadykes.cpc@gmail.com

Contributor
Messages
11
Best answers
0
I'm curious to know how other offices keep track of daily deposits. Please share.
 
we would typically have our payment posters balance all of their batches for the day, and then run the end of day reports, make sure that everything balances, and then turn that over to the accounting department. That department would then double check that the cash/checks we gave them do indeed add up to what we posted on that day, and the deposit would be made to the bank.

I think it is important to involve two departments when possible to keep that level of integrity. You don't want the same person posting the payments and receiving the checks to be also the person making the deposit. Separating the duties helps keep everyone in check.

'With so many offices now received EFTs, the process would be slightly different to include accounting for the electronic funds deposited.
 
You must log in or register to reply here.
Top