How to Charge Interest
Estimated Reading Time: 1 MinutesOverview
This article will show you how to charge interest to patients showing an outstanding balance in your Aging Analysis Report
Detailed Instructions
Interest is, by default, automatically checked for all patients. It does not mean that Interest will automatically be charged to the patient, but that the patient is eligible to be charged Interest if it is needed later.
Note: Since charging interest could potentially charge a large group of patients with an aging balance, if there are patients that you do not wish to charge interest, you can go to their ledger, and uncheck the “Interest” box.
To charge patients interest, first go to Reports or Reporting Tools > Financial > Charge Interest/Late Fee¸ you can choose to charge interest by doctor, location, or practice, once you’ve chosen that, you can choose to charge interest by 30 days and older, 60 days and older, or over 90 days. Once those options have been chosen, click Open ’Charge Interest’ Report.
That will bring up this screen:
From here, you can choose whether you want to charge a flat fee (such as $5.00) or a percentage of what they owe. If interest has been charged to a patient that you didn’t want to charge interest to, you can always remove it, by voiding it from their ledger.
Collections
If the patient is being sent to collections you can select the collections option It will confirm the action and then add a ledger note the patient was "Sent to Collection"
