Manually Post Interest or Penalty
Post Interest to an Interest Account
Create an Interest Account: Setup for Manually Posting Interest and Penalty.
Set up an Interest Payment and an Interest Adjustment Transaction Code if it has not already been done.
If you do not have an Interest Account set up, create one before proceeding.
Create an Encounter on the Interest Account to Post the Interest or Penalty if one does not exist.
Add a New Charge for the Interest Amount to the Interest Account Encounter.
Manually Post your Interest Payment or Penalty to the Interest Account.
Use this same Encounter for future Interest/Penalty Payment from this Insurance.
Create a Receipt for the Interest or Penalty
For manually posted Payments, create a Receipt for the Interest.
Before saving the Receipt, choose the Do not Post radio button.
For ERAs, Attach a New Receipt.
Use Post Expert Mode to Manually Post Interest or Penalties
Use Post Expert Mode to enter the Interest manually or 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 bring the Balance to zero on the Interest Account, apply an Adjustment using the Interest Adjustment (INTADJ) Transaction Code that you previously 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 Save [F2].
Learn More
Setup for Manually Posting Interest or Penalty
Auto-Apply ERA Interest
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