A Clinic may want to tally up the total payments they have received in a day against the money they physically have in the cash box at the Clinic. This process is usually done at the end of every day and is called Closing. Receipts at your clinic will be from Patient Payments or Income Vouchers. Outflow from your clinic is on account of Expense Vouchers.
Let us see how to tally all these up:
1. Go to Financials | click on New Closing.
2. Click on Open Transactions button.
3. This will open the Closing Details on the right-hand side. This list will display the total of receipts grouped by payment mode. Example: you will see the total of Cash, the total of Cheque, the total of Credit Card etc.
If a payment mode has no receipts, e.g. if you received no pay via net banking, then net banking will not appear in the summarized view above.
The total will be positive if receipts came in. However, if more money is going out than what came in, the total for that payment mode will be negative.
The amount of cash you have with you in the Clinic should match the total Cash as shown in the summarized view. Similarly, the total of the printed credit card receipts you have in your hand should match the total of the credit card in the view above.
4. There is also a View Details button which you can click to see each transaction that is behind the summarized totals you saw in the step above.
If the amount is positive it means it is an income if it is negative, it means this transaction was a refund or an expense, ie, the money went out of the clinic.
5. Once you have cross-checked your balances and it all matches up, you can go ahead and close these transactions by clicking on CLOSE FOR TODAY button.
Note: Once you Close this cycle, all Vouchers that were part of this cycle are locked and no further changes in them are possible. A closing number will also be generated to identify this cycle. All new transactions from this point on will go into a fresh cycle.
6. The Closed cycle will appear in the Closing screen with the Date and Time of when the transaction was closed, the name of the person who closed it, along with a Closing Number and the Total amount inclusive of all payment modes.
The Closing Detail of the Closed cycle can be seen by clicking on the date and time link.