Accounting Cycle

Within the SMDC Finance department, it is the job of Accountants to gather the information requirement to have a bun in the oven a complete, incidentally and absolute picture of the financial rise being of the organization. SMDC is a large organization which consists of 3 hospitals and all over 15 clinics in 3 states. Information from many argonas distinguishable machine-driven systems is needed to complete the accounting cycle. Some of these beas and systems depart be discussed in this paper. The first bea that allow be discussed is the personal credit line Services departments, which include Accounts due, Charge Entry, Coding, Reimbursement, Payment notice and customer Service. The Business Services department maintains the accounts receivable. The Accounts Receivable systems include heroic for the clinical areas and HBOC for the hospital areas. The majority of revenue and cash get within our organization is processed through the incompatible accounts r eceivable systems. Through daily accounts, the business services departments are responsible for posting of charges or revenue, billing these charges to insurance companies or guarantors, and posting payment and adjustments that are received from payers and patients. All of these entries are maintain within the accounts receivables systems and then electronically fed into the ordinary record book at month end. The second area that is will be discussed in the accounting cycle is the Materials Management and the Accounts payable areas.

Whereas, Accounts Receivable has the task of managing the charges and payments coming into the syst em, Materials Management and Accounts Payabl! e adopt righteousness for maintaining inventory for the organization and making sure the bills bring closely paid for the organization. Materials Managements maintains inventory for the organization. It is the responsibility of this department to maintain holy inventory levels to adequately stock the organization with supplies and other items that are needed by the different departments. Materials Management and Accounts Payable... If you want to stiffen a full essay, order it on our website: BestEssayCheap.com

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