Balancing the Payments Daily?
When Dr. Brassfield called the office, his primary concern was “lack of systems.” His focus wasn’t on the necessity to make more money or create less stress, work less days, etc. but for improving or creating systems that can be maintained throughout the life of the practice, regardless of the revolving door of team members.
McKenzie Management analyzes over 20 systems over a period of 12 months for our clients, or 10 systems over a 6-month period. The systems that are targeted depend on the needs of the practice. Managing the daily closing of the practice is always one of the systems that doctors request.
You Don’t Know What You Don’t Know!
Here Is What He Didn’t Know
So what WAS she doing? She was taking the cash and checks out of the drawer at the end of the day, diligently writing down all the checks she had onto the bank deposit slip, adding up her cash and adding it to the top of the bank deposit slip, putting it into an envelope and sealing it up. She gave it to Dr. Brassfield and he took it to the bank on his way home.
She knew that the credit card payments were deposited automatically into the bank, so she just took the signed receipts and put them in a separate envelope that she kept for them. When the credit card machine reconciled at midnight, in the morning she took the reconciliation and placed it in the envelope, along with the other signed receipts for the month.
Here Is What Was Happening
Dr. Brassfield learned not to “assume” anything, and you shouldn’t either. Check with your business team to confirm that the proper steps are being taken to balance your payments every day and a deposit is being prepared to match the daily daysheet. You will be glad you did!
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