were paid what the practice software said you should be paid. It is
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I advocate back-to-back accountability between QuickBooks and
the practice software. The end-of-day procedures include printing the daily deposit report, batching out the credit card terminal, printing the credit card summary, and creating a bank
deposit slip (or batching out the check processing machine).
Staple the credit card summary and a copy of the bank deposit
slip to the back of the daily deposit report. Hand the physical
deposit and the reports to the doctor. With three out of five practices currently experiencing embezzlement, I strongly suggest
the doctor takes the deposit to the bank and the doctor reviews
all amounts to match all the reports. Overseeing is a good management skill.
Once a week, enter these amounts individually into QuickBooks
as they are deposited into the bank: Cash & Checks, MC & Visa
(& Discover), American Express, Care Credit, etc. Then when
you download, the amounts match! …unless you have not called
Care Credit and asked them to stop taking the fees prior to
deposit but instead as a monthly lump sum withdrawal, just as
credit card companies. When