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August 22, 2005

Posting & Reconciling Payments

The following is an excellent policy for daily posting reconciliation; this was posted on one of the MGMA listservs last week:

Mail payments are sorted as commercial, Medicare, Medicaid, BCBS, and personal.  Posting employees must:

1.       Make sure their payments balance to the mail log

2.       Note on the mail log the control posting group and date posted

3.       Person posting personal payments must also balance to the money paid at the receptionist window.

A separate employee prepares the bank deposit of all these payments and it must match the total posted into the system for the day.  She must also notate on the log the date the checks were deposited and the amount of the deposit.   A runner takes the deposits to the bank.

We do have 5 clinics as well - the receptionists from the clinic must balance out with a B.O. staff member.  Both sign a log book indicating the amount of money turned in for the day.  These funds then go to the individual that post personal payments.


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