Finalise & Reverse Account Statement Runs

Finalise & Reverse Account Statement Runs

Estimated reading time: 4 min

An account statement run generates a number of individual reports as a batch. This means the management of completed account runs should apply as a batch operation as well.

There are two tools in RxWorks for account run management:

  • Finalise an Account Run
  • Reverse an Account Run
  • How and when these tools are used will depend on how debtor accounts are managed in your practice.

    Finalise An Account Run

    This allows you to finalise an account statement run that was not finalised at the time of production.

    Reverse An Account Run

    This allows you to reverse a selected account statement run.

    Accessing the Finalise and Reverse Functions for Account Runs

    You can access the ‘Finalise’ and ‘Reverse’ functions by following these steps:

    1. Click the ‘Reports’ button in the “toolbar”. Alternately, select ‘Reports’ from the “RxWorks Orb”.
    2. Select ‘B: Accounts Debtors & Tax Analysis’ from the ‘Reports’ Work Area.
    3. Select ‘Reprint Account Statement’ under section B1.

    The ‘Reprint Account Statements’ window will appear.

    You will see the ‘Finalise’ and ‘Reverse’ functions under ‘Tools’ in the ‘Reprint Account Statement’ window.

    Finalising an Account Statement Run

    Finalising an account statement run is often called ‘closing off the month’ or ‘closing off the account period’.

    In RxWorks, 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.
  • Finalising An Open Account Period

    Once all transaction entries are completed, you will want to close off the accounting period by performing the finalise accounts steps as outlined here:

    1. Click the ‘Reports’ button in the “toolbar”. Alternately, select ‘Reports’ from the “RxWorks Orb”.
    2. Select ‘B: Accounts Debtors & Tax Analysis’ from the ‘Reports’ Work Area.
    3. Select ‘Reprint Account Statement’ under section B1.
    4. Click the ‘Finalise’ button.
      • The ‘Finalise Last Account Run’ window will open.
    5. Set the Current period date that you wish close the period to.
    6. Correct the 30, 60, 90 period dates (if required) to ensure that your aged balances are correctly calculated.
    7. Uncheck ‘Reset Temporary Account Notes’ if you do not wish to reset them.
    8. Click the ‘Finalise’ button to complete closing off the account period.

    Why You May Need To Leave Account Runs 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.
    Here is an example scenario and how you would work with it:

    Scenario

    You operate a practice with a significant ambulatory component.
    At the end of the month you are ready to create your account statements for clinic clients, but you have not completed entering the invoice information for field work.

    Solution

    Generate the account statements for your clinic clients, but choose to leave the account period open to complete the field-work entries later.
    Once your field-work entries are completed, generate the ambulatory account statements and finalise the account period.

    Re-Opening an Account Period After it Has Been Closed

    You may find that late transaction additions require access to a closed account period. To add transactions into the closed period you will need to re-open it first.
    Here is an example scenario and how you would work with it:

    Scenario

    You operate a practice with a significant ambulatory component. At the end of the month you have created your account statements for clinic clients, but you have not completed entering the invoice information for field work. When you created the statements for clinic clients, you accidentally closed the period and cannot add in the field work invoices.

    Solution

    Manually reset the account period dates back to the previous account period dates. This will allow new invoices to be added, while maintaining the integrity of the account statements that you have already produced.

    Manually Resetting Account Period Dates

    To reset account period dates without reversing a statement run:

    1. Go to the “RxWorks Orb”.
    2. Select Options & Setup.
    3. Select ‘D Finance’.
    4. Select ‘Financial Periods’.
    5. Set all dates manually, or set the Current period end date and use the ‘set account periods automatically…’ check box the set the 30, 60, 90 day periods.
    6. Click Save to complete the changes.

    Manually changing account statement periods will allow you to add new invoices to the system. However, it will not allow changes to invoices that have been included as part of an account statement run. To do this, you will need to reverse single account statements or the entire account run.

    Reversing an Account Statement Run

    Accounting errors occur from time to time, or a charge on an account statement may be disputed. In these circumstances you may wish to make adjustments to transactions that have been included in an account statement run.
    The account statement run ‘locks’ transactions included in the run from further editing. An account run reversal must be done to make corrections to ‘locked’ transactions.

    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.
  • Once your corrections are done, you will need to recreate & finalise the account statement run to the desired current dates.

    Recreated account statements will have new account statement reference numbers applied. This means that the newly created statement reference number will be different to the reference number applied when the statement was first printed. You must be mindful of any reversal and recreation process that may have occurred.

    Reversing Account Statement Runs For Corrections

    Follow these steps to reverse an account statement run:

    1. Click the ‘Reports’ button in the “toolbar”. Alternately, select ‘Reports’ from the “RxWorks Orb”.
    2. Select ‘B: Accounts Debtors & Tax Analysis’ from the ‘Reports’ Work Area.
    3. Select ‘Reprint Account Statement’ under section B1.
    4. Select the account statement run that you wish to reverse from the drop down list.
      • If it is a single statement run, click the ‘show all accounts’ text first.

    5. Click the ‘Reverse’ button.
    6. The date-range selection and single account selections cannot be used to restrict a reversal procedure. You can only use the ‘Reverse’ function in conjunction with the ‘Reprint account run’ drop down selection.
    7. Click OK to confirm the reversal.

    Once the reversal is complete, you will see the account run data has been removed and the statement run is no longer available for selection from the drop down list.

    When account statements are reversed, all late fees & charges applied as part of the account run will be reversed also. Recreation of the account run will re-apply any relevant charges as per your account creation settings.
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