If your practice applies interest or finance charges to overdue invoices, you must first create a finance or interest charge billing code. For more information, check out Administration: Creating an Interest/Finance Billing Code.
1. Once the appropriate patient is displayed in the Patient Reserve, select the Checkout option from the main menu to view the patient's invoice.
2. At the top of the checkout page, assign the appropriate Chart Note, and Provider. Then type and select the Interest/Finance charge from the Item dropdown list and assign a Qty and Date. When finished, select Add Item to add the billing code to the patient's invoice.
3. After the billing code has been added to the invoice, select the Edit pencil to the right of the billing code line item to open details.
4. From the invoice total Amount Due, calculate the finance total and add this figure to the Price field. (Example: 841.53 x 3% Interest Charge= $25.25). Then select the Checkmark to update.
You will now see the Interest/ Finance Charge added to the Invoice total automatically.
Important Note: In the event that another interest/finance charge is needed the following month, you will need to repeat steps 3-4 on the existing interest/finance code. If you try to add another billing code line item instead of updating the existing code, it will simply apply a second qty to the invoice.
Helpful Tip:
To view a list of clients with unpaid invoices, check out Reports: Accounts Receivable (AR).