Recordkeeping

Card Set Information

Author:
shaketarenae
ID:
77394
Filename:
Recordkeeping
Updated:
2011-04-04 19:45:08
Tags:
Recordkeeping vocabulary
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Description:
Vocabulary for Recordkeeping
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  1. Reporting of the financial results of a business.
    Accounting
  2. Assets=liabilities + owner's equity
    Accounting equation
  3. Amounts owed to (creditors), vendors
    Accounts Payable
  4. Income or money owed to a business
    Accounts Receivable
  5. When a change has been entered into an account record
    Adjustment
  6. Everything owned by a business/ medical practice, bank accounts, cash accounts receivable, real estate, and equipment
    Assets
  7. Difference between the debit (money owed) and the credit (money paid)
    Balance
  8. Shows current financial condition of the practice
    Balance Sheet
  9. Systematic recording of the transactions of a business
    Bookkeeping
  10. When a payment has been received on an account
    Credit
  11. Chronological list of the charges to patients and payments received from patients each day
    Daily Log
  12. All patient charges and any receipts are recorded here each day
    Day sheet
  13. When a charge has been entered into an account
    Debit
  14. Summary of accounts paid out
    Disbursement journal/ Record
  15. Reports the total income received and the total expenses that make the income necessary
    Income statement
  16. Provides a record of all services, charges, payments, and adjustments
    Ledger card
  17. Debts of a business; what they owe
    Liabilities
  18. What a business is worth, (proprietorship, capital or net worth) Difference between the assets and the liabilities of a business
    Owners Equity
  19. Person who receives payment
    Payee
  20. Voucher system used to take care of minor expenditures
    Petty cash fund
  21. Form used to control petty cash expenditures
    Petty cash voucher
  22. Used when a patient payment is made but no service is provided on that day
    Receipt form
  23. Used as a charge slip, receipt statement, and insurance reporting form
    Superbill

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