Accounting Cycle

Within the SMDC Finance department, it is the job of Accountants to gather the information demand to have a bun in the oven a complete, apropos 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 machine-driven systems is needed to complete the accounting cycle. Some of these beas and systems depart be discussed in this paper. The first atomic number 18a that allow be discussed is the blood line Services departments, which include Accounts due, Charge Entry, Coding, Reimbursement, Payment notice and node Service. The Business Services department maintains the accounts due. The Accounts Receivable systems include expansive for the clinical areas and HBOC for the hospital areas. The majority of revenue and cash have within our organization is processed through the incompatible accounts receivable sy stems. Through daily greenbacks, the business services departments are obligated 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 retained within the accounts receivables systems and then electronically fed into the ordinary account book 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 Ac! counts Payable adopt responsibleness for maintaining inventory for the organization and making sure the bills bring close paid for the organization. Materials Managements maintains inventory for the organization. It is the responsibility of this department to maintain straight inventory levels to adequately stock the organization with supplies and other items that are needed by the different departments. Materials Management and Accounts Payable... If you want to mend a full essay, order it on our website: BestEssayCheap.com

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