Creating an Account Statement Run

Creating an Account Statement Run

Estimated reading time: 10 min

An account statement is a periodic summary of client transaction activity within a given period of time. Printed account statements can be created for all clients that have a balance owing to your practice or those that meet your specific selection criteria.
Account statements are usually created as a batch report so that all statements can be created at once. The statements can be sent to your clients to advise them of the balance owed and the age of the debt. Your clients can use the information shown on the statement to make the correct payment.

When To Do An Account Statement Run

Account statements are normally created on a monthly basis. The account run can be created more frequently depending on your practice needs.

What Does An Account Statement Run Do?

An account statement run checks the database for clients with unpaid balances. Not all clients with a balance will produce a statement. Only clients that meet your selection criteria specified in the account run settings will have a statement created. Account keeping fees will also be applied according to your account setup & selection criteria.

Choosing to finalise the account period at the end of a statement run will also:

  • Update the ‘ageing’ on client balances.
  • Update the dates used in other reports for ‘This Account Period’ and ‘Last Account Period’.
  • ‘Lock’ transactions entered up to the close date.
  • Disallow the creation of new transactions prior to the close date.
  • Dates And Account Periods

    The account run dates define the length of time for each accounting period. The accounting periods are typically at monthly intervals, but may be longer or shorter depending on your practice needs.
    The age of each balance is calculated at the close of each account period. By ageing balances you can keep track of balances that have gone unpaid over successive account periods.

    User Security / Access Restrictions

    For obvious reasons, you can restrict selected users from creating an account statement run. Users must have the ‘Can Perform Batch Account Runs’ check-box enabled under their user profiles in order to complete a batch account statement run. Do this under Options > Setup > I – User > Financials

    Account Statement Run Preparation

    Two key reports should be created prior to creating an account statement run.

    These are:

  • A3 Incomplete Invoices List
  • B3 Transaction Summary (Debtors List)
  • Read on to see why these are recommended, and what each does.

    A3 Incomplete Invoices List

    The Incomplete Invoices report produces a list of Visits or Consults that have not been completed in the system and have therefore not been finalised as an invoice.

    Check and Complete your Incomplete invoices if the charges are to be included in an account statement run.
    For a detailed explanation of this report, see the online manual article for “Incomplete Invoices”.

    B3 Transaction Summary (Debtors List)

    The Transaction Summary report can be used to obtain a list of all debtors and creditors.

    Create this report before an account statement run to:

  • Spot check for client balance errors.
  • Look for odd or out of character balances.
  • Show clients unusually in credit.
  • Track old debts.
  • Identify account balance errors and correct them before the account statements are created.
    For a detailed explanation of this report, see the online manual article “B3 – Transaction Summary”.

    Creating Account Statements

    This article index covers:

  • “Accessing the Account Statement Run Function”
  • “Setting the Current Period End Date”
  • “Setting the Aged-Balance Period End-Dates”
  • “Setting the Account Statement Run Restrictions”
  • “Creating an Account Statement Run”
  • Accessing The Account Statement Run Function

    You can access the ‘account run’ function by following these steps:

    1. Click the ‘Reports’ button in the RxWorks Ribbon Toolbar. Alternately, select ‘Reports’ from the RxWorks Orb.
    2. Select ‘B: Accounts Debtors & Tax Analysis’ from the ‘Reports’ Work Area.
    3. Select ‘Create Account Statements’ under section B1.

    The ‘Create New Client Accounts’ window will appear.

    Setting The Current Period End-Date

    The date displayed on the ‘current’ period line defaults to the current date. In most scenarios this date should be set to the last day of the calendar month just ended.

    Click the drop-down arrow to select the required date from the calendar or simply type in the required date.

    Setting the current period end-date to today’s date will prevent further invoices from being created today. Delay your account statement run by one day to prevent the period from being closed too early.

    Setting The Aged-Balance Period End-Dates (30, 60, 90 Day Aged Balances)

    The aged-balance period end-dates are automatically set to the end dates of the last three account statement runs. You can change these dates by clicking the drop-down arrow to select the required date from the calendar, or simply type in the required date.

    An easy way to ensure that the aged period dates are set to the end of each month is to use the ‘recalculate’ button.
    Once you have set the current date, click the ‘recalculate’ button. This will set each of the aged period dates to the last day of each of the previous three months.

    Setting The Account Statement Run Restrictions

    Enter the appropriate settings for restricting an account run. Set to a specific account type or for creating an interim statement. The default settings of ‘Account Type: ALL’ and ‘Statement Type: Permanent’ are usually adequate for most practices.

    Creating An Account Statement Run

    Creating an account statement run does not mean you must print the statements straight away. There are three options to choose from when creating an account statement run:

    Create & Preview

    This option creates the account run data and previews the completed statements on-screen for a final check before printing.

    The statement previews are grouped by account type and can be accessed from the taskbar display.

    You can print the statements from within the preview screen by selecting the print button. This will print all statements listed in that account type preview.

    Create & Print

    This option creates the account statement run data and sends the completed statements directly to your nominated printer.

    Create Only

    This option creates the account run data, but does not preview or print them. You can preview and print the statements later by using the ‘Reprint Account Statements’ function.

    The account run process usually takes a few seconds to complete. However, a large multi-branch practice with a large number of accounts may take several minutes to complete the process. This is especially true when the ‘Create & Preview’ option is selected.

    Finalising an Account Statement Run

    Once an account statement run has been created you have the option of ‘closing’ the account period. You also have the option of printing some additional reference reports related to the account run.

    This article index covers:

  • “Closing the Account Period (Default)”
  • “Reversing the Account Statement Run”
  • “Leaving an Account Period Open”
  • “Printing Additional Account Summaries”
  • Closing The Account Period (Default)

    Finalising an account statement run is often called ‘closing off the month’ or ‘closing off the account period’.
    Finalising an account statement run will perform the following actions:

  • The ageing on client balances will be updated. This will ensure that the previous ‘Current period’, 30 day, 60 day, and 90 day periods are brought forward one period.
  • The dates used in other reports for ‘This Account Period’ and ‘Last Account Period’ will be updated.
  • Transactions entered up to the close date will be ‘locked’. This means they cannot be changed without first reversing the associated account run.
  • Disallows new transactions from being created prior to the close date.
  • You can close off the month by selecting ‘Update the client balance and close off the month’ in the Finalise Account Run window & clicking ‘OK’.

    Resetting the Temporary Account Notes

    Temporary account notes are normally recorded in the notes section of a Client Work Area. These notes are a way of communicating account related information to individual clients by printing them on their account statement. Do this by checking the ‘reset temporary account notes’ box.
    Resetting temporary account notes will delete the notes from the client record. This option is selected by default but may be unchecked if you do not wish to remove them.

    Reversing The Account Statement Run

    You have the option of immediately reversing the account run just completed. This option is useful if your intention was only to preview the account statements, or if you noticed an error on a statement and wish to make an adjustment to a transaction.

    Reversal of an account statement run will:

  • Remove the stored account run reference from the database.
  • Reset the account period dates back to the previous account run dates.
  • Remove account keeping charges added by the account run.
  • Once your corrections are done, you will need to recreate & finalise the account statement run to the desired current dates.
    You can reverse the account run by selecting ‘I want to reverse this account run, change settings and re-run it’ & clicking ‘OK’.

    Leaving An Account Period Open

    In some scenarios it may not be practical to finalise your account run straight away, and the account period needs to be left open. This may be useful if you create statements for different client account types at different times.

    When an account period is left open, the following conditions apply:

  • You can continue to add new transactions prior to the account run date.
  • The ageing on client balances will not be updated.
  • The dates used in other reports for ‘This Account Period’ and ‘Last Account Period’ will not be updated with the most recent account run dates.
  • Transactions entered up to the close date and included in the account run will be ‘locked’. This means they cannot be changed without first reversing the associated account run.
  • Choose not to close an account period by selecting ‘I am not ready to finalise accounts yet’ & clicking ‘OK’.

    Printing Additional Account Summaries

    You have the option of printing three additional reports when finalising the account period. These reports are not essential but may be useful for later reference. These reports may also be printed at a later time as required.

    The three reports are:

    Summary of Each Client

    This report is the same as the ‘B3 Transaction Summary’ report, but does not show aged balance breakup. This report shows clients with non-zero balances with a total of invoices billed and payments received.

    List of Account Fees Debited

    This report is the same as the ‘B1 Audit Account Fees’ report. It shows a listing of all clients that have had account fees applied through the account statement run.

    1 Page Summary of the Account Run

    This report is the same as the ‘E1 Client Analysis – Financial Breakdown by Account Type’ report. This report shows a graphical analysis of invoices created and payments received, grouped by client account type.

    What is Affected When I Create an Account Run?

    After completing an account statement run, a number of work areas and windows will be updated with new information. Only permanent statement runs have any visible effects, whereas interim statements are effectively reversed after generation and leave no lasting changes.
    You can see the result of a completed account run in the following work areas and windows:

    The Financial Periods Window (Options And Setup)

    The aged period dates will be updated in Options & Setup > D Finance > Financial Periods. This is where the dates are stored for the system to use for reporting. Reports that use balance values refer to these dates.

    The Create New Client Accounts Window

    The aged period dates that you set at the beginning of the account run will automatically be aged by one period, in preparation for the next account run. This will only occur if you elected to close off the month after completing the statement generation.

    The Client Financial Work Area

    Transactions included in an account statement run will be shown with their dates in black text.

    You can hover the mouse cursor over a transaction to show the account reference number.

    The Client Financial Work Area – Accounts Tab

    By Selecting the Accounts tab in the financial work area, you can show the accounts list for that client. Here you can perform a number of administrative and preview tasks like preview, print, and reverse an account statement.

    Adding New Visits In The Closed Period

    New visits may be created for a patient in the closed period to preserve the integrity of the medical record. However, the invoice date must be set after the last account run date.

    Setting a different invoice date to the visit date can be done by changing the date of invoice on the ‘Finish Visit’ screen.

    Restricting an Account Statement Run to an Account Type

    It is possible to restrict an account statement run to a single account type at a time. Some common reasons for this action are:

  • To break large account runs into smaller batches for convenience.
  • You have field-work invoices that are still to be entered for the month, but wish to create statements for your in-clinic clients.
  • To restrict an account statement run, simply select the account type you wish to restrict to from the drop down list in the ‘Create New Client Accounts’ window.

    Once the account type is selected, you can generate your account statements by selecting one of the create options.

    Leaving The Account Period Open

    It is recommended that an accounting period is left open until you have created statements for all account types. Leaving the period open will allow you to continue adding transactions in that time frame (if required) and avoids the issue of having to re-open an accounting period if it has been closed off too early.
    After creating statements for each account type, select ‘I am not ready to finalise…’ from the Finalise Account Run window.

    The dates will not be updated at this point. Once you have completed all remaining account type statement runs, you can close the period as normal. This will ‘lock’ the account period and update the ageing dates.

    Normal account creation rules apply when generating statements per account type. Account keeping fees, settlement discounts and so on will still be applied as per your normal accounting configuration.

    Creating Interim Account Statements

    You can choose to create an interim account statement run. Simply select the interim option from the ‘Create New Client Accounts’ window. The differences between an interim and permanent account statement are highlighted below.

    What Are The Differences For Permanent And Interim?

    Interim Account Run
  • Creates account statements for previewing & printing.
  • The account is immediately reversed and no account run data is stored.
  • Account keeping fees will be shown on the printed statement but are immediately removed from the client financial record.
  • The next time you create an account statement it will be as if no account statement has been created previously.
  • Items and services that were included on the previous interim statement will be shown, along with any further transactions that have been created since the interim statement.
  • Interim statements are useful when a client requests a current account statement mid-month. An interim statement can be produced without interfering with your normal end-of-month account procedures.

    Permanent Account Run
  • Creates account statements for previewing & printing.
  • Transactions included in the account run will be locked and unable to be edited.
  • An account run reference number will be created and each statement in the run will be associated with this reference.
  • Each account statement is given a unique reference number.
  • Subsequent statements will include any balance forward, but will not include the items or services included in the previous permanent statement.
  • Permanent statements are created in normal end-of-month accounting procedures and is selected by default when you open the ‘Create New Client Accounts’ window.

    Quick Reference Guide

    Use this guide as a simple checklist to help you create your account statement run. It can easily be printed and used in your practice.

    Creating An Account Statement Run

    1. Create an “A3 Incomplete Invoices List”. This will help you identify any visits that require completion before inclusion on the account run.
    2. Create a “B3 Transaction Summary (debtors list)”. Use this report to spot check all outstanding balances for any unusual figures before creating the account run.
    3. Click the ‘Reports’ button in the “toolbar”. Alternately, select ‘Reports’ from the RxWorks Orb.
    4. Select “B: Accounts Debtors & Tax Analysis” from the ‘Reports’ Work Area.
    5. Select “Create Account Statements” under section B1.
    6. Set the Current Period End-Date. This is usually the last day of the month just ended.
    7. Check the Aged-Balance Period End-Dates (30, 60, 90 day aged balances).
    8. Use the default Account Run Restrictions. Change the settings to select only one account type or to create an interim statement.
    9. Select the ‘Create & Preview’ or ‘Create & Print’ button to begin statement production.
    10. Close off the month by selecting ‘Update the client balance and close off the month’ in the Finalise Account Run window & clicking ‘OK’.
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