Accounting Cycle

Within the SMDC Finance department, it is the job of Accountants to gather the information undeniable to have a bun in the oven a complete, well timed(p) and absolute picture of the financial rise being of the organization. SMDC is a large organization which consists of 3 hospitals and all over 15 clinics in 3 states. Information from many argonas distinguishable automate systems is needed to complete the accounting cycle. Some of these beas and systems depart be discussed in this paper. The first argona that allow be discussed is the course Services departments, which include Accounts receivable, Charge Entry, Coding, Reimbursement, Payment notice and customer Service. The Business Services department maintains the accounts receivable. The Accounts Receivable systems include epic for the clinical areas and HBOC for the hospital areas. The majority of revenue and cash current within our organization is processed through the incompatible accounts receivable systems. Through daily observances, the business services departments are accountable for posting of charges or revenue, billing these charges to insurance companies or guarantors, and posting payment and adjustments that are received from payers and patients. All of these entries are keep within the accounts receivables systems and then electronically fed into the ordinary book of account at month end. The second area that is will be discussed in the accounting cycle is the Materials Management and the Accounts payable areas. Whereas, Accounts Receivable has the task of managing the charges and payments coming into the system, Materials Management and Accounts Payable adopt debt instrument for maintaining inventory for the organization and making sure the bills bring slightly paid for the organization. Materials Managements maintains inventory for the organization. It is the responsibility of this department to maintain faultless inventory levels to adequately stoc k the organization with supplies and other i! tems that are needed by the different departments. Materials Management and Accounts Payable... If you want to bind a full essay, order it on our website: BestEssayCheap.com

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