Period Close Parameters

When defining a period close there are two key dates to keep in mind to determine which transactions will be counted in the period close, the effective date of a transaction and the post date of a transaction. The effective date is the date of service for a charge or the date of payment or adjustment for a receipt. These dates can be changed. The post date is the date when a transaction was posted or committed to the system. The act of posting a charge or receipt creates a system date that cannot be altered.

With these definitions in mind, there are two key parameters that you will supply when you close a period:

Close Date

The close date is usually the last day of the month that you are closing. It defines the date of service or date of receipts that will be counted for a period.

Include Post Date thru

Only transactions that are posted on or before the “Include Post Date Through” will be counted. This date can be any day prior to the current day to ensure that all transactions done in a given day will be captured.

Tip: Clinicient's best practice is to set the Close Date and Include Post Date Through as the same date, typically the last day of the month for which you are running Period Close. This way all payments posted during the month will be captured in that period close report and no overlap will occur.

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