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 about how Interest/Finance charges are applied to the invoice after it's been created, check out Checkout: Applying Interest/Finance Charges to a Past Due Invoice.
1. To create an Interest/Finance billing code to be used at checkout, select the Administration option from the main menu on the left side of the screen. Then select the Items and Services icon.
2. In the upper right corner of the main Items and Services page, select Create New Item.
3. On this next page, in the Item Definition section at the top, you must include the following:
- Name: Type the desired Interest or Finance charge title as it will appear on the patient's invoice
- Type: Non-Stocking Item
- Location: Select all appropriate locations where this billing code is available
- Category: Select the appropriate category for reporting purposes. For more info on creating categories, check out Administration: Creating and Editing Item Categories.
- Description: This is an optional field that allows you to enter information about the charge that will appear on the patient's invoice (Example: 3% Late Fee).
- Allow Alternate Description toggle will allow the opportunity to alter what's in the Description field at Checkout. Otherwise, this will remain a Read Only field.
4. Scroll to the bottom of the page and select Save Item.
To view a list of clients with unpaid invoices, check out Reports: Accounts Receivable (AR).