Choosing the Accounting Period Cutoff Date

In PracticeAdmin there is not a hard month-end close. We use accounting dates for running practice collection reports. The Accounting Date option allows for an extension into the next month for posting purposes. For example, if you have payments that you received on January 31 but you know you will not have time to post the payments in January you can extend the accounting day to 1 for the following month. That will allow you to post on February 1 but the money will get credited to January's reporting numbers. 

Our servers are located in the Eastern time zone, so any transaction (claim or payment) entered after midnight EST will be timestamped for the next day. Using this functionality is an option when your time zone is CST, CMT or PST. If additional time is expected for the end of month posting tasks, adjust the accounting period cutoff date to extend a day or two into the next accounting period. This will allow time for posting in a previous month when the adjustment is made and saved prior to the current setting deadline.

You must have Account Manager access in PracticeAdmin to access the settings. 

Click the Settings > Account tabs and look for Accounting Period Cutoff Date under Core Information.

Select the day and current/following month you prefer for your accounting period cutoff date.

Always look for the Update button after making any changes under Settings and click to save them. 

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