With the Payment Closeout feature, you can lock payment transactions, ensuring that received amounts match what is owed. This prevents discrepancies and eliminates errors caused by mismatched payments or overlooked balances. The rigorous reconciliation process maintains the accuracy and integrity of financial records, safeguarding against potential inaccuracies.
Create a payment closeout
To begin, navigate to the Utilities icon.
Click on Practice Setup, followed by Payment Closeout.
Click New Payment Closeout.
In the Name fields, input a name for the payment closeout. For example, If you’re locking in payments for the month of June, you might want to name it June Payments.
Specify the date range by inputting the dates in the Lock From and Lock To fields.
Select the Payment Type you want to lock payments for by clicking the corresponding checkbox on the left side. Options include Both Insurance and Patient Payments, Insurance Payment only, or Patient Payments only.
If applicable enter a Description.
For enhanced security, you can choose Yes for Password Protection, which is advisable when managing sensitive financial data like insurance payouts or patient payments.
Enter the password in the Password field.
Re-enter the same password in the Confirm Password field.
Click Save. By locking your payments for the specified date range, you will be unable to modify or make changes to those payments.
Payment closeout screen
On the main Payment Closeout screen, you can edit previously locked payments by clicking the lock icon and entering the password or those that don’t require a password by clicking on the payment closeout name. This action will unlock the payments and allow you to make changes to those payments.
In the Name field, you can search for existing payment closeouts by entering their names.
Select the Show Deleted checkbox to include payment closeouts that have been deleted.
Click the Blue icon to view all linked payments.
You can print the screen as a CSV or PDF file for further reference.
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