Post the Interest or Penalty
Post Interest or Penalty
Post your Interest Payment or Penalty to the newly created Encounter, and use this same Encounter for future Interest/Penalty Payment from this Insurance.
Create a Receipt for the Interest or Penalty
- Manually posted Payments create a Receipt for the Interest.
- Before saving the Receipt, choose Do not Post button.
Post Expert Mode to Post the Interest/Penalty
Use Post Expert Mode to manually enter the Interest/Penalty Payment and Adjustment.
- On the Receipt Dashboard, select the Post (Expert Mode) button.
- Use the Lookup icon, to find the "Interest" Patient that you created for Interest Payments.
- Select the Encounter line item in the list. (44840e8175)
- If the Allowed and Payment fields are available, enter the Interest amount there. If they are not available:
- Transaction Code: Enter INTPAY.
- Amount: Enter the Interest amount. (Positive amount if the interest is being received from the Payer and negative amount if Interest is being taken by the Payer.)
Note: There will be a negative balance for the Insurance if Interest was received from the Payer. (There will be a positive balance if Interest is being taken by the Payer.)
- To make the Balance zero on the Interest Account, apply an Adjustment using the Interest Adjustment (INTADJ) that you set up.
- Transaction Code: INTADJ
- Amount: Enter the amount of the Interest Payment (Positive amount if interest is being received from the Payer and negative amount if interest is being taken by the Payer.)
Note: The Balance on the Encounter is now $0.00.
- Select the Save Unbalanced button.
- Select the Save[F2] button.