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ch 63 financial management in the dental office

a system designed to maintain the financial records of a business
Accounts payable
expenses and disbursements paid out from a business
Audit trail
method of tracking the accuracy and completeness of bookkeeping records
form of insurance that reimburses an employer for loss resulting from theft by an employee
the insurance company that pays the claims and collects premiums
Change fund
fixed amount of cash
a draft or an order drawn on a bank account for payment of a specified amount of money
Check register
record of all checks issued on and deposits made to a specific amount
Coordination of benefits (COB)
coordinating insurance coverage between two insurance carriers
Current Dental Terminology (CDT)
publication that lists the procedure codes assigned to dental services for the processing of dental insurance
Customary fee
a fee is wintin the range of the usual fee charged for the service
Deposit slip
an itemized memorandum of funds to be deposited into the bank
payments on any outstanding accounts payable
the overhead costs of a business that must be paid to keep operating
Fixed overhead
business expenses that are ongoing
Goss income
the total of all professional income received
an itemized list of goods that specifies the prices and terms of sale
a financial statement that maintains all account transactions
Net income
gross income minus expenses
Packing slip
an itemized listing of shipped goods
the person (orbusiness) named on the check as the recipient of the amount shown
Pegboard system
a manual bookkeeping system
Petty cash fund
a limited amount of cash that is kept on hand for small daily expenese
describes the documentation of money transactions within a business
the dentist who provides treatment to the patient
Reasonable fee
a fee that is considered justified for an extensive or complex treatment
Responsible party
person who has agreed to pay for services or for an account
a summary of all charges, payments, credits, and debits for the month
any charge, payment, or adjustment made to a financial account
Usual fee
a fee that the dentist charges for a specific service
Variable Overhead
business expenses that change depending on the types of services neede
Walkout statement
a written indication of any balance due on an account, given to a patient as he or she leaves the practice at the end of an appointment

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