Closing the Year in Dentrix
As the end of the year approaches, it’s time to think about closing your fiscal year in Dentrix. Closing the year gives you an opportunity to purge old Appointment Book data, reset insurance benefits and deductibles, and review helpful year-end information from Dentrix reports.
Keep these important points in mind as you close out the year:
- Dentrix does not require a special process for closing the year. Closing the last month of the fiscal year is all that is required to close the year in Dentrix.
- Before closing the last month of the fiscal year, make an up-to-the-minute backup of your practice data, and then close Dentrix on all but one of the computers in your office.
To close the month/year:
Open the Ledger. From the Month End menu, click Month End Update to display the Close Out Month dialog box. If your office regularly closes out each month, the Close Out Month date will reflect the month that has just ended.
Note: Months must be closed in chronological order. If you have not closed previous months, you must close each prior month up to the current month.
- To delete old appointments in the Appointment Book (to reduce the size of the practice database) select Appointment Purge. All appointments dated prior to the Cutoff Date will be deleted from the Appointment Book.
- To reset insurance benefits and deductibles according to the benefit renewal month in the Family File, select the Reset Insurance Benefits option. All insurance plans that expire in that month will be reset for their next benefit cycle.
- Click OK. Dentrix closes the month and checks the fiscal year beginning month and calculates the yearly totals accordingly.
The Office Manager has several reports that can help you at year end. These are the same reports that you should run at month end. To run the reports for year end, you should first run the reports for the last month of your fiscal year, and then run them for the entire year.
- Practice Advisor Report – Assess the overall financial health of your practice with MTD and YTD statistics for collections, continuing care, new patients, production and schedule management. This report provides statistics for the practice as a whole and for each dentist and hygienist. To run this report, from the Analysis menu, click Practice Advisor to open the Practice Advisor dialog box, and then click Practice Advisor Report.
- Analysis Summary Report – Lists changes, payments and adjustments, and is used to generate totals for a specific date range or daily totals. The summary includes MTD and YTD totals for each provider. To run this report from the Reports menu, point to Management and click Analysis Summary.
- Practice Analysis Report – Provides statistical data for production, receivables, patients, and financial contracts such as payment agreements and future due payment plans. To run this report, from the Analysis menu, click Practice. Then from the File menu, click Print Analysis.
- Production Summary Report – Generates a detailed list showing the total number of times you completed each procedure in a specific date range, and the average charge per procedure. To run this report, from the Analysis menu, click Practice and then click the Reports menu. Clear all options under Select Summary Reports except Production Summary.
- Adjustment Summary Report – Provides detailed information such as the number of times each adjustment type was used and the total amount adjusted off during the selected date range. To run this report, from the Analysis menu, click Practice and then click the Reports menu. Select Adjustment Summary from the options under Select Summary Reports.
- Payment Summary Report – Similar to the Adjustment Summary Report in that it provides a detailed summary of the payments received, including cash payments, credit card payments, etc. To run this report, from the Analysis menu, click Practice and then click the Reports menu. Select Payment Summary from the options under Select Summary Reports.
- Aging Report and Insurance Aging Report – Lists the outstanding balances for patients and insurance in aging brackets. Many offices find it useful to print these two reports at the end of each month and year. To run these reports, from the Reports menu, point to Ledger and select the name of the report.
Following the recommendations in this article will help simplify the work of closing the year. To learn more about closing the year in Dentrix, see the webinar recording titled “Year-End Processes” found in the Dentrix Resource Center. For more information about the reports described in this article, download a copy of the Dentrix Reports Reference from the Manuals tab in the Dentrix Resource Center.