We all know that a monthly comparison between collections according to practice management software and bank deposits is a cornerstone of financial controls. Not doing this comparison, or simply taking the word of your office manager that "we balanced," opens the door wide open for someone to steal from you.
And despite the importance of this basic control, why don't the majority of practice owners perform this basic step? We can think of two reasons. First, the calculation can be somewhat technical, particularly with "timing differences" between when payments are recognized in your software and when money hits your bank. Second, assembling the information needed and then performing the comparison takes time, which is a precious commodity for all of us.
Accordingly, many practice owners skip this step and hope for the best, and we see many dollars preventably lost to practice owners.
At Prosperident, we have been looking for a way to make it easier for practice owners to have the protection from doing thiws critical financial control, and we have partnered with a software development company to develop CenturyDoc, an affordable way for practice owners to automate this safeguard.
We are pleased to announce that CenturyDoc is now available for general use. The initial release is for Open Dental Users only, with other softwares being rolled out over the next few months.
Setup and Reporting:
Setup is really simple, and takes about five minutes. Initially, CenturyDoc will look back at the last year to see if funds were missing. going forward, it will provide weekly updates. The reporting is simple, understandable, and shows at a glance if you have a discrepancy.
We are very excited to have this simple, automated, and affordable way to increase the protection of practice owners. Please
check it out and take advantage of your 30-day free trial.
