Period Close, End of Month and End of Year

The former End of Month/Year process has been replaced with the new Period Close feature. This has not only affected the way you close your month, but also the associated reports. To compliment the Period Close process, there are new reports available. These reports can be found within the Report Center in the new Period Close category.  Additionally, some existing reports have been revamped to accommodate the new process and are also found in the Period Close category.

EOM/EOY reports – Some of the reports found within the Period Close category of the Report center, are also located in other report categories. There were changes made to the reports that were run with the former EOM/EOY process, let’s review what those changes are:

  • Month/Year End and Month/Year End Historical MTD/YTD reports-This report has been removed and is no longer necessary for the new process.
  • Analysis of Services Detail/Summary (equivalent to the Month End reports but broken down in a different format), some offices also run the Reimbursement Analysis (remember that these reports are not designed to balance to each other) – Use the report listed in the Period Close category to balance with your Period Close.  Use the report listed in the Financial Totals category to run the original version of the report (not associated with the Period Close).
  • Deposit Totals – Use the report listed in the Period Close category to balance with your Period Close.  Use the report listed in the Financial Totals category to run the original version of the report.
  • Finance Charges – Located in Billing menu | Patient Billing | Finance Charges.   We recommend running this on a monthly basis with your patient billing.
  • Carrier, Group, Practice, Procedure, Provider, Provider Profile, Referring Provider and RVU Production Summary Reports – All Production reports are now located in the new Period Close Category.

Period Reports – These reports are designed for complete accountability, every posted item with financial significance should be reportable. Every report is a hard number and completely final once the period is closed. Any additional transactions posted after a period has closed will have no impact on period reports. The reports were purposed around GAP (General Accounting Practice) to ensure we were following industry standards.

  • Period Close associated reports:
  • Period Close Trial Balance
  • Practice Production Summary
  • Group Production Summary
  • Provider Production Summary
  • Provider Profile Production Summary
  • Analysis of Services Detail/Summary
  • Carrier Production Summary
  • Deposit Totals Detail/Summary

NOTE: None of the A/R reports were included. The A/R reports are up to the minute reports, meaning if you post a payment then run the A/R report, that amount will be deducted immediately. Any A/R reports will still need to be run either on the last day of posting for the month OR at the time of closing the period. This choice will be dependent on your office practices.

NOTE:You no longer need to manually close the year.  The year is automatically closed when you close the month that ends your fiscal year as defined in system defaults. Year end reports will look at the last 12 consecutive closed periods, or more appropriately stated, it only pulls the closed periods for the current fiscal year. For example, if May 2009 through December 2009 were closed in that fiscal year, it will only pull May through December for fiscal year 2009. The Utilities | System default | Reports | Last EOM/EOY Date gets updated only when using the Date of Close Method. In the Calendar Close Method this time stamp is meaningless as it will only show the date that the default was changed. This is considered a marker as to when, for example, Susie changed it from November to December.

Calendar Close Method – (reports are most accurate)

Date filter based on:

  • Charge DOS
  • Deposit date
  • Write off date
  • Adjustment date

Allows for posting multiple months at the same time, but doing so is only guaranteed to balance to period reports. It does have the ability to run the same Non-Period reports as the old “Month end” process, if given a day between closing and posting the new items for the next month.

Date of Close Method

  • Uses date of entry only on all posted items.
  • Requires the office to enter all financial data for the current period, close that period, and then begin posting financial data for the next period. This method also allows for the ability to begin posting for the new period immediately after closing the previous period.
  • Period Reports will balance.
  • Functions the same as the old “Month end” process. Non-Period reports will have the same functionality for EOM/EOY if using the system defaults to drive it and if giving it a day between closing. (The day has to pass the midnight mark on the server, which is Pacific Time.)


Common attributes

It is recommended to run the Trial Balance report prior to closing the period. Trial Balance Report will include these current items:

  • Charges
  • Payments
  • Adjustments
  • Voids
  • A/R change (+/-) from the previous period, if the number is in parentheses that indicates a drop in the A/R. However, this report does not show the current A/R.

CBO users should be aware that you will only be able to generate this report for one sub-key at a time. Also, this report has replaced the Month/Year End Historical MTD/YTD report.

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