If your practice offers finance options, this can be processed in EXACT.

This guide will help you configure this.

• Creating a finance payment type
• Processing a finance payment without treatment completed
• Processing a finance payment when received from your finance company

Creating a finance payment type

1. Go to Configure - Patient Payments.
2. Create a finance payment type, for example 'Finance'. For assistance with this view Configuring Patient Payments.
3. Under the heading Auto Discounts, select the option Percentage discount.
   

Processing a finance payment without treatment completed

You may wish to enter the finance payment before the treatment is completed and therefore an invoice may not be present.  This will mean an error will appear if trying to add a discount as there is no invoice to discount. In this instance,

1. Go to the Patient record.
2. Select the transaction screen (currency button).
   • Click Payment on the patient's transactions screen.
   • Enter the Payment Amount (example value 500.00).
   • Select the Payment Method of Finance.
   • Click Process.
3. Close the window to return to transaction screen.
4. Click Adjust.
   • Click into the Type field.
   • Click the selection button.
5. Select FINANCE from the list.
   • If FINANCE does not already exist, you will need to create this.
   • Select +1 in the lower right.
   • Enter the following information:
     • Code: FINANCE
     • Description: Finance Discount
     • Select Receipt Correction (affects banking)
     • Select A positive entry will increase the amount
       
6. You can now Create Adjustment.
   • Enter the Amount (example value 50.00).
   • Type must be FINANCE.
   • The Comment is for your use, this will default to the Description of the Adjustment Type.
   • The date will default to todays date.
   • Click OK.

Processing a finance payment when received from your finance company

1. Go to the Patient record.
2. Chart all the required treatment as you normally would, with the full value of the treatment and invoice this as normal.
3. Select the transaction screen (currency button).
   • Click Payment on the patient's transactions screen.
   • Enter the Payment Amount (example value 450.00).
   • Select the Payment Method of Finance.
   • Enter the interest/practice amount (example value 50.00) in the Discount Amount box.
   • Entering a reason in the Discount Reason area (you may wish to record a reference code for the finance agreement).
   • Click Process.
4. The patient's balance will now show as 0.00, with a 500.00 invoice, 450.00 paid and how the 50.00 was accounted for.