You are reconciling the office checking account with the bank statement that arrived this morning. After accounting for unrecorded deposits, checks, and debits, you find that the total in your practice records is $11,760 and the bank's total is $12, 160. What is the first thing you should do?
A. Adjust the practice records to match the bank's total
B. Call the bank and inform them of the error on the statement
C. Review each item on the statement against your records to find the $400 difference
D. Inform the physician that the books do not balance this month
E. Ask the office manager to call the auditor to review the books
C. Review each item on the statement against your records to find the $400 difference
If the totals do not match, you must go back and check each item individually to find out where the recording error was made. In some cases, the error will have been made by the practice, but the bank sometimes makes errors also.
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Within the law, there is a legal standard that is used to determine whether an implied contract can be formed called the __________ standard
Fill in the blank(s) with the appropriate word(s).
Patients with ____________________ as their primary carrier are responsible for 20% of the allowed amount if they do not have a supplemental insurance plan
Fill in the blank(s) with correct word