What Is Financial Receipt?

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Receipts are handled by the claims payment and reporting functional areas, which maintain accounts receivables, payouts and receipt of checks. The Financial Receipt function allows you to record, correct, and disposition payments and returned checks from financial entities.

Financial receipts are checks or electronic funds transfers (EFTs) from payees, providers, carriers, third-party suppliers, and stale-dated and voided checks.

Receipts may be received by Medical Services through the mail or electronic funds transfers.

The receipt process contains two major activities handled by the Financial Receipt function of Financial:

Cash Receipts

The Cash Receipts activity allows you to record, correct, and disposition receipt of payments from financial entities. You can add receipts, update existing receipts, adjust existing receipt balances, and reverse receipts that were entered in error.

Note: Once a receipt has been dispositioned, fully or partially, a receipt cannot be reversed.

Returned Checks or EFTs/Void

Whenever a receipt is recorded and dispositioned, a stop payment for a check/EFT is issued, or a check/EFT is to be voided, ND MMIS generates financial transactions and mass adjustment request transactions when applicable. These transactions are processed in the claims payment and reporting cycle.

Stop Payment With Replacement

The Stop Payment With Replacement process allows you to void and reissue a check or electronic funds transfer (EFT). Reasons for replacement include lost, stolen, returned, or damaged check(s). Replacement of the check can be done manually or systematically. During the Stop Payment With Replacement process, you can update an existing transaction.

Note: You can update an existing transaction only if it has not been processed in a claims payment and reporting cycle.

Stop Payment Without Replacement

The Stop Payment Without Replacement process allows you to add a new receipt for a returned check/EFT and stop the payment without reissuing a replacement. You can also update an existing new receipt of a returned check/EFT and stop the payment without reissuing a replacement.

Note: Record can be updated only if it has not been processed in a claims payment and reporting cycle.

Instructions

Field Descriptions