Granted Credits and Refunds: Effect on Receipts and Deposits Report
Updated
Receipts
When the Grant Credit button is selected on an invoice:
The credit is granted to the patient's account.
The Receipts report for the date the credit is granted displays a negative in the amount of the granted credit.
When a patient's credit is used as a payment:
The Receipts report is increased by the amount of the credit because the credit is being used to pay for open charges.
When a granted credit is subsequently refunded:
The Receipts report is not changed by the refund as the granted credit process has already accounted for the refund.
The refund displays within the Refunds report.
Deposits
When a credit is granted to a patient's account:
The Deposits report is not changed.
The money belongs to the patient; however, it is in the practice's possession and is included with funds for the deposit.
When a granted credit is refunded:
The Deposits report reflects this for "cash, credit card, and care credit refunds." The monies refunded will reduce the funds available for deposit.
Refunds distributed by check do not appear on the Deposits report, because the funds do not leave your possession until the check is cashed/deposited by the patient.
Deposit Slip
The Deposit Slip report does not display refunds or granted credits.