Post the Interest/Penalty
Auto-Apply Interest on ERAs
Release v4.8 Interest can be Auto-Applied on ERAs. The Transaction Codes for Interest are: IIP: Insurance Interest Payment Credit IID: Insurance Interest Payment Debit Encounter Level If the Interest is reported on the Encounter level, it will post ...
Post the Interest or Penalty
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 ...
Setup for Posting Interest and Penalty
Set up an Interest Adjustment Transaction Code Create a custom Transaction Code to adjust the Interest/Penalty off the current A/R depending on your accounting practices. An alternative is to enter a Charge for the same amount as the Interest, but ...