Carrier Reconciliation for Receive Payment

Use these guidelines to complete a carrier reconciliation from a receive payment. Partial amounts from the Recon Clearing Activity account can be used from or to carriers.

To Reconcile a Carrier Receive Payment

1. On the Primary menu, click ORGANIZATION.
2. Click the territory > territory Details icon > accounting > transactions > receive payment tab.

3. Once a payment has been received, on the payments received tab in the Quick Navigation panel, click the Recon Clearing Activity link. Notice the Recon Clearing Activity link does not have any entries yet. These entries will be added as the receive payment is used from the Recon Clearing Activity account.

4. On the payments received tab, click Payment Summary on the Navigation Toolbar. The receive payments summary is displayed. In this example, the Payment ID 2027 for $4,345.00 was posted.

5. Click the reconciliation tab. The summary of previous reconciliations is displayed.

6. On the reconciliation tab, click [Add New Reconciliation]. The Reconciliation dialog box is displayed.

7. In the Reconciliation dialog box, search for and select the appropriate Carrier. Click OK. The reconciliation tab is displayed.

8. In the Quick Navigation panel, click Receipts / Disbursements. The receipt added for this example, ($4345.00) is shown in the summary.

9. For this example, we will use $900.00 of the receipt for the reconciliation. Once the amount to use has been added to this screen, click Save on the Navigation Toolbar. The reconciliation header is updated with the Receipt Total of $900.00 and a Virtual Disbursement of $900.00.
10. In the Quick Navigation panel, click Transactions - Direct Bill. The direct bill invoice is displayed for payment. In this example, the invoice will be fully paid with $900.00. However, a partial payment can also be made. Click Save on the Navigation Toolbar. The reconciliation header is updated. Notice the Virtual Disbursement is gone and the $900.00 has been added to the Income / Receivable Total.

11. On the Navigation Toolbar, click Post. The Post Reconciliation dialog box is displayed. Notice the totals available for viewing on this dialog box. Click OK.

12. Once the reconciliation is posted, click Reconciliation Summary in the Navigation Toolbar. The reconciliation summary screen is displayed. To check the Recon Clearing Account activity, click the receive payments tab > Details icon for the receive payment.
13. In the Quick Navigation panel, click Recon Clearing Activity. A summary is displayed showing how much of the received payment has been allocated.

14. To complete the use of the receive payment, click on Payment Summary in the Navigation Toolbar and then on the reconciliation tab.
15. Click [Add New Reconciliation] and search for the appropriate Carrier. Once the reconciliation tab is displayed, click Transactions - Direct Bill in the Quick Navigation panel.

16. In the Direct Bill list, for this example, four invoices are paid to use most of the receive payment. Partial amounts can be used. Click Save on the Navigation Toolbar. Notice a new Virtual Receipt Total of $3440.00.
17. In the Quick Navigation panel, click Receipts / Disbursements. Enter the amount of the receipt to be used in this reconciliation. Click Save. The Receipt Total of $3440.00 is removed from the total of the original receipt.

18. On the Navigation Toolbar, click Post. The Post Reconciliation dialog box is displayed. Notice the totals that are displayed.

19. In the Post Reconciliation dialog box, click OK. The reconciliation tab is again displayed. For this example, notice there is a $5.00 balance from the original receive payment.

20. On the Navigation Toolbar, click Reconciliation Summary. Notice the reconciliation is balanced for Recon ID 2186. The total is $0.00.

21. To again verify how the receive payment allocations are affecting the Recon Clearing Activity account, click the receive payments tab. Click the Details icon next to the original receive payment record. The Allocated amounts from the Recon Clearing Activity account are displayed.

22. In the graphic above, notice the allocated amounts leave $5.00 in the Recon Clearing Activity account. For this example, the $5.00 is an overpayment from the carrier. A disbursement can now be created for the overpayment to go back to the carrier. Click the disbursements tab.
23. Click [Add New Disbursement]. The disbursements tab is displayed. In the Quick Navigation panel, click Payments Received. In this example, the $5.00 is deducted from the receive payment.

24. On the Navigation Toolbar, click Save. The Disbursement Amount is displayed in the disbursement header.
25. On the Navigation Toolbar, click Post.

26. A confirmation dialog box is displayed showing whether or not the disbursement is in balance. Once in balance, click OK. The disbursement is posted.
27. To review the Recon Clearing Activity account to see where the total amount of the original receipt has been allocated, click the receive payments tab and the Details icon next to the original receive payment of $4,345.00.
28. On the Quick Navigation panel, click Recon Clearing Activity. The transaction details are displayed.

29. In the Total Allocated All Pages line the full receive payment has now been removed from the Recon Clearing Activity account. There are two reconciliations showing use of partial amounts of the receive payment and then the final disbursement back to the carrier.