Lecture Medical assisting: Administrative and clinical competencies (2/e) - Chapter 18

Chapter 18 - Accounting for the medical office. Accounting is another of the administrative competences in the medical assisting career. A person in this career may be required to take on many duties in the medical office that would typically be done by an office manager. This chapter describes the key areas of accounting and bookkeeping that may be encountered.

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Medical Assisting

Chapter 18

A medical practice is a business, its 

income must exceed its expenses!

Assets = liabilities + owner equity

Apply Your Knowledge

     What are three things should you add 

to the back of a check that you receive  from a patient?

Apply Your Knowledge   ­ Answer

to the back of a check that you receive  from a patient?

1. Name of the doctor or practice

2   “For Deposit Only”

3. Bank account number

Make sure the checking

account balance will

cover the check you will

write

If you make an error

when completing a

check, write void in ink

across the front of the

check

Have the doctor sign the

When should  this form be  completed?

Every three  months.

 A written agreement of 

employment terms between employer and employee

 What is a W­2?

Apply Your Knowledge ­Answer Answer

 What is a W­2?

 Shows the employee’s total taxable income for the year

   What is FUTA?

 Annual Federal Unemployment Tax Return

  You will need to understand the proper management of accounts receivable and accounts 

payable

  The use of standard bookkeeping and banking procedures is necessary to maintain the business of 

the office

End of Chapter