Medical Office Management Final Project Kaplan University Essay

Research and describe the ternary types of bookkeeping systems. Which of the three systems do you think would be the easiest to work with in the medical fleck? (Peg Board, Single Entry, Double Entry) Why? Single entry is similar to a checkbook register. It only has one line entered in the journal for severally transaction. Each transaction is recorded in the one column of the account. It is both a positive or a negative amount in the order to represent the receipt or disbursement. Single entry is extremely simple and easy to use. The concept of double entry is in either(prenominal) transaction there are two effects. These two effects are known as Debit (Dr) and Credit (Cr). Accounting system is base on the principal that for e precise Debit entry, there exit perpetually be an equal Credit entry. This is known as the Duality bargainer (Accounting-Simplified). Debit entries include, enlarge in assets, Increase in expense, decrease in liability, decrease in equity, and decr ease in income. Credit entries include, decrease in assets, decrease in expense, increase in liability, increase in equity, and increase in income. Double entry is recorded in every mood that the account equation is always balanced out evenly. One-Write System or Pegboard provides convenience in check writing that is not available in computer systems. Checks can be written instantly, when rented, either inside or outside the office. The One-Write System Check Register provides an accurate copy of every check written for posting to the computer after the fact (inkoneverything). Pegboard is very useful in the heathcare/medical world. It is a single form that assures the hoard up charges and payments are recorded correctly on all other forms. In my opinion, I would like to work with the pegboard system. It may be a atomic harder to learn but I think it would be worth it. It has everything you need to keep an office or clinic running smoothly quintetancially wise. Everything will b e in the system and it will be easy to feeling it up. ReferencesAccounting-Simplified. Concept of Double Entry. Retrieved from http//accounting-simplified.com/double-entry-accounting.html Southern California. One-Write Systems (Pegboard). Retrieved from http//www.inkoneverything.com/pegboardaccountingsystem.html QuickMBA. Accounting. Single Entry Bookkeeping. Retrieved from http//www.quickmba.com/accounting/fin/single-entry/