The purpose of a month end close is to lock down financial transactions for the month, thus preserving the charge and payment data, and to establish static, reportable monthly accounts receivable (AR) totals. This results in an ending AR for the current month and a starting AR for the following month.
MediTouch will automatically perform a month end close for all clients on the last day of the month at 11:59 PM PST. To establish a customized closing date, e.g., close the month on the 5th of the following month, use the AR Month End Close feature to establish your practice’s monthly closing schedule.
Month End Closing is no longer an optional feature. Beginning July 2015, MediTouch will automatically close each month using a new AR Month End Close. Review this help page to learn how to establish a closing schedule for your practice.
To learn more about how this affects your practice or workflow, read more.
Restrictions
- Only a super user can set up or edit a closing schedule.
- The month end closing date can only be extended to the 15th day of the following month.
- The system will not calculate the AR for the month until the month end closing date has passed.
- On the menu bar, click Admin and then click AR Month End Close.
Set Up the Closing Schedule
Set up your practice’s closing date by creating a recurring schedule. The following selections are available:
- Last day of the month (this is the default if you do not set up a schedule)
- The 1st to 15th day of the next month
- First or second Sunday to Saturday of the next month
- To set up your closing schedule for the first time, click the edit icon.
- Select the radio button that corresponds to the desired schedule.
- If you are selecting a closing date other than the last day of the month, you must also select the recurrence from the drop-down menu.
- Click Save Schedule.
- An example of a closing schedule set up for the first Friday of the next month.
- The right side of the screen displays what the next closing date will be.
Edit the Month End Closing Schedule
- The page displays the current closing schedule and the next month’s scheduled closing date with options to:
- Edit the closing schedule.
- Edit the next closing date.
Edit the Closing Schedule
- To edit the closing schedule’s recurrence, click the edit icon.
- Make your changes and then click Save Schedule.
- Your change will be reflected on the right side.
Edit the Next Closing Date
- To edit next month’s closing date, click the edit icon.
- To select a new date, click the calendar box and then click Update.
- The closing date cannot be prior to the last day of the open month or after the 15th of the next month.
- Note: Changing this date does not change the established closing schedule.