Record Insurance Co-payments
Table of Contents
Background
This article covers the initial setup of co-payments from insurance companies and also how to manage the payments.
Initial Setup
Initial setup requires creating a Liability, Type Credit Card account called something such as Insurance Payment. To do this:
- Go to Lists from the menu bar at the top of the screen
- Choose Accounts from the drop-down
- Click the Liabilities tab
- Click New
- Enter a unique number
- Enter name
- Type is Credit Card
- Click OK
Billing the Client
Create an invoice for the client:
- Go to Command Centers from the menu bar at the top of the screen
- Choose Sales Register from the drop down
- Click New Sale
- Enter client card
- Indicate desired Layout (button on bottom of Sale: Service, Item, Professional, etc.)
- Enter appropriate information
- Enter Paid Today (by client) amount
- Click Record
This invoice will show in Sales Register, Open Invoices tab
Billing the Insurance Company
Create an invoice for the insurance company:
- Go to Command Centers from the menu bar at the top of the screen
- Choose Sales Register from the drop down
- Click New Sale
- Enter Insurance Company card
- Indicate desired Layout (button on bottom of Sale: Service, Item, Professional, etc.)
- Enter appropriate information (reference client invoice number)
- Use the Insurance Payment, Liability, Type Credit Card account for posting
- Click Record
Receiving the Insurance Company Payment
When payment is received from insurance company
- Go to Command Centers from the menu bar at the top of the screen
- Choose the Sales Register from the drop down menu
- Select Open Invoices tab
- Highlight the Insurance Company invoice
- Click the Receive Payment button in the lower, left-hand area of the Sales Register
- Receive Payment, posting to operating bank account or Undeposited Funds
Applying Insurance Payment to Client Invoice
After you received the insurance company payment:
- Go to Command Centers from the menu bar at the top of the screen
- Choose Sales Register from the drop down
- Select Open Invoices tab
- Highlight the Client invoice
- Click the Receive Payment button in the lower, left-hand area of the Sales Register
- Receive Payment, posting to the Insurance Payment account
- Click Record