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​Close out a Month (Procentive)


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  • Updated

Closing a month will lock all payments and invoices with a posting date on or before that closing date.

 

Close a Month

Steps to Take Before Closing a Month

  1. Verify that all Payments have been allocated.
    • In the Payments Module, change the view to View Payments.
    • Select show [all] at the top.
    • Click on the Unallocated (Credit) column header and let it load.
      • Then click on the column header again to bring all unallocated payments to the top.
    • Review all ERAs or EOBs that have unallocated credits with posting dates during or prior to the month you want to close.
    • Allocate these credits before closing a month.
  2. Verify that all Takeback Credits have been allocated.
    • In the Payments Module, change the view to View Payments.
    • Uncheck the Show Last 90 Days box at the top.
    • Click on the Unallocated (Credit) column header and let it load.
      • Then click on the column header again to bring all unallocated payments to the top.
  3. Review all ERAs or EOBs that have unallocated takeback credits with posting dates during or prior to the month you want to close.
    • Allocate these credits before closing a month.
      • Some payers will hold takeback credits and use them on future ERAs. When this happens there will be a blue box at the top of the ERA, Payment Entry Mode with a negative amount listed. These ERAs will not be fully allocated and that is okay, you can still close the month and obtain the takeback credits in the future when the payer decides to use them.
  1.  

Close a Month

  1. Go to the Accounting module.
  2. Click Change.
    Accounting_Module_Change.png

  3. Enter the new Closing Date.
    enter_closing_date.png

  4. Click Change.

 

Result of Closing a Month

If the closing date is June 30th, you will not be allowed to delete or alter existing payments or invoices that have a posting date of on or before June 30th. You will still be allowed to resend invoices from closed periods, and post payments and adjusting entries to all service lines from closed periods. But all new invoices, and all new payments or adjusting entries must be posted in the open period.

We recommend the closing date be the last date in the month ie. 30th or 31st.

 

Benefits of Closing a Month

  • Consistency in reporting. If you do not close a month, the reports you use for accounting purposes may change.
  • Prevents staff from changing payments and other transaction data.

 

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