It is the front desk’s responsibility to see that deposits are made each day. After the last patient has checked out we want to compare our records with patient payments for the day. Do the following:
DAILY AUDIT OF RECEIVED PAYMENTS & DEPOSIT REPORT:
- In Open Dental, go to Reports > Standard > Under the Daily section select Payments
- Under Group By select Check.
- Put a checkmark next to All insurance payment types, All patient payment types, All Payment Groups.
- Click OK and print this report.
- Compare the numbers on this report with the day’s received checks, cash, and credit card receipts (patient payments, not insurance). If these totals do not match, find out why!
- Hand this report in with the End-of-Day Report.
See this article by The Dental Startup Academy for more details: Open Dental Daily, Weekly, & Monthly Financial Reports
DEPOSITING CHECKS – All checks (Insurance and Patient Payment) received in a single day should be deposited at the end of the day by our billing specialist in this way:
- Endorse each check with the stamp provided by our bank.
- Use the check scanner to deposit checks remotely.
- Paperclip checks with date marked on a sticky note as well as the deposit total and put in the envelope at the back of the EOB cupboard. DO NOT SHRED OR THROW AWAY CHECKS!
DEPOSITING CASH – All cash payments (we don’t process a lot of cash) are stored in our cash lock box and deposited once a month in this way:
- Any cash that is placed in our cash lock box must be recorded on the log that is stored inside the box. Every time cash is moved in or out of the box it must be recorded!
- Prepare a deposit at the end of the month or when the cash total exceeds $500.
- Keep a variety of small bills in the box to be used for payments that require change.
- Place the cash to be deposited in an envelope, update the log, write the total on the outside of the envelope, and give the envelope directly to the doctor to be taken to the bank.
- Audit the log in the cash box to make sure no cash is unaccounted for.
