Basically once a sales order created, there are two ways how it can be paid.
- Self Pay (using cash or credit card)
For cash and credit card is pretty obvious that the invoice will be settled there and then. However with insurance is different. In some cases we have to submit the patient records (including their billing) to the insurance company and await for their approval. During the waiting for approval period the invoice is still not paid. My questions:
- How can I keep track which invoice is going to be paid using a particular insurance (there will be different kind of insurance that we accept in the hospital) ?
- Do I need to create new Chart of Account and Journal as well for the above need ? Can someone give me example on this ?
I hardly use any accounting software before thus my knowledge on this is very basic. Any ideas or information is very much appreciated.