Modifying payment plan terms

You can modify the terms of a payment plan to fit the needs of each account.

To modify the terms of a payment plan

1.   Select a patient, and then in the Accounts toolbar, click Billing/Payment Plan.

The Billing/Payment Plan Information dialog box appears.

2.   Under Payment Plan (PP), click Terms.

The Payment Plan Terms dialog box appears.

3.   Modify the following payment terms as necessary:

·        Annual Finance Charge Percent - To charge interest on your payment plans, you must apply finance charges. Type the annual finance charge percent. Easy Dental calculates a monthly finance charge based on the annual finance charge percentage rate.

Note: If you selected a payment plan type, Easy Dental may automatically enter a percentage, but you can change the percentage.

·        Annual Late Charge Percent - To assess a late charge, type an annual late charge percentage rate. Easy Dental automatically calculates a monthly charge based on this percentage rate. For example, if the annual late charge percentage rate is18%, Easy Dental assesses a monthly late charge of 1.5%.

Note: If you selected a payment plan type, Easy Dental may enter a percentage automatically. You can change this percentage.

·        Grace Period (days) - To set a grace period for the receipt of payments before assessing a late charge, type the number of days from 0 to 30.

·        Minimum Late Charge - To set a minimum late charge, type the amount to assess.

·        Minimum Balance to Charge - To set a minimum balance on which to assess a finance or late charge, type an amount.

The minimum balance is compared to the balance for each account with a payment plan, and a finance or late charge is assessed to those accounts with a balance greater than the minimum. Easy Dental defaults to a minimum balance of $.01. You can increase the minimum amount, but it cannot be less than $.01.  

4.   Click OK.