Accounting Cycle

Within the SMDC Finance department, it is the job of Accountants to gather the information prerequisite to have a bun in the oven a complete, well-timed 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 automated 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 billet Services departments, which include Accounts due, Charge Entry, Coding, Reimbursement, Payment notice and customer Service. The Business Services department maintains the accounts receivable. The Accounts Receivable systems include heroic poem for the clinical areas and HBOC for the hospital areas. The majority of revenue and cash stock within our organization is processed through the incompatible accounts r eceivable systems. Through daily nibs, the business services departments are amenable 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 maintained within the accounts receivables systems and then electronically fed into the ordinary rule 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 com ing into the system, Materials Management an! d Accounts Payable adopt obligation 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 precise 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 batten down a full essay, order it on our website: BestEssayCheap.com

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