Where Charges, Payments, & Adjustments Go in Accounting Periods

The following information explains where charges, payments, and adjustments go into accounting periods.

Charges

Charges are based on the date of service. For example, if you have an October 15th claim, as long as the October period is open the charges for that claim will go into that period. However, if you work an October 15th claim in November after the October accounting period is closed, the charges will go into the November period with an October date. If you run a report for November, you will see that charges for that claim were for a previous period.

Payments

Payments are based on the deposit date. If you are posting a payment for a deposit date of October 15th, it will go in the October period until that period is closed. Once October is closed, it will go into November, but it will have a deposit date of October the 15th.

Adjustments

If the adjustment date is today's date, then it is based on the posted date. If you post an adjustment for the October 15th claim on November the 5th, it will go into the next open period. Because adjustments are based on posted date, most of the time you will not have adjustments in different periods.

If the adjustment date is set to a prior date, the system will treat the adjustment similarly to payments. In such cases, the accounting period will align with the transaction date rather than the posted date. For adjustments, "Transaction date" acts the same as a "Deposit date."