Thanks Christopher, that is exactly what we did except in this case the
insured was covered 100% so your $150 partial payment received would have been
$200 full payment received.
Thanks again everyone for the help.
On Thursday, February 13, 2020, 5:23:29 PM EST, Christopher Lam
wrote:
This is what I would do: (I assume you're the patient attending the
clinic). Say the clinic bills $200 and Medicare pays/prepays $150 ($50
co-pay).
I believe the Expenses:Medical:Rebates is an expense contra-account? The
GnuCash account type would still be EXPENSE, but would become more negative
Thanks Stephen. This is the first time I've seen a case like this... meaning
insurance pays client before client gets a bill from the provider... etc... as
far as I can remember.
Regardless, this would have zero tax impact on the individual since it all
netted to zero... IMO... but, like you,
On 2/13/20 11:12 AM, Fran_3 wrote:
> In this case the "Doctor" was actually a nationally known diagnostic &
> treatment clinic
> And the "Insurance Company" was Medicare.
> At that time the clinic accepted those insured by Medicare but it was
> not "Medicare Assigned"
> What all that meant
In this case the "Doctor" was actually a nationally known diagnostic &
treatment clinicAnd the "Insurance Company" was Medicare.At that time the
clinic accepted those insured by Medicare but it was not "Medicare
Assigned"What all that meant effectively was the clinic sent the bill Medicare
On 2/13/20 8:34 AM, Fran_3 via gnucash-user wrote:
> This question was in regards to an individual recording a trip to the doctor
> in their personal GC system.What was somewhat unusual here was the medial
> insurance paid the patient instead of directly paying the doctor
> Here is the original
This question was in regards to an individual recording a trip to the doctor
in their personal GC system.What was somewhat unusual here was the medial
insurance paid the patient instead of directly paying the doctor
Here is the original scenario:1 - Doctor billed patient2 - Insurance paid
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On Wed, 12 Feb 2020, 7:34 am Fran_3 via gnucash-user, <
gnucash-user@gnucash.org> wrote:
> In the case at hand...The initial expanse was medical billed and billed
> to the patient.The insurance company sent the money for the medical bill to
> the patient.The
I could be misunderstanding, but it appears that you are expensing someone
else’s expenses, not those of your own business operations. That generally
isn’t correct.
Expense accounts in your business’ books are for money spent in the operations
of *your* business. That is, things like rent,
In the case at hand...The initial expanse was medical billed and billed to the
patient.The insurance company sent the money for the medical bill to the
patient.The patient aid the medical provider.
So we have 3 transactions to record...1- The Medical Bill charged to AP & Med
Exp2 - The Ins
On 2/11/2020 11:47 AM, Fran_3 via gnucash-user wrote:
When an insurance claim occurs the insurance pays us and we pay the vendor.
How to we charge the deposit from the insurance company and the payment to the
vendor?
I considered setting up an Expense Account named Insurance Transactions or
This is an accounting question and is a bit more than generic, you’d need to
ask a local CPA.
Some questions to clear up before you ask them:
1. Do you record an asset to reflect the pending claim until paid? (also, what
happens if it isn’t paid? see #3)
2. Or is this just a passthru? (like
When an insurance claim occurs the insurance pays us and we pay the vendor.
How to we charge the deposit from the insurance company and the payment to the
vendor?
I considered setting up an Expense Account named Insurance Transactions or
Insured Events or whatever...
Then allocating the
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