Financial Mapping Guide

Financial Mapping Guide

(D15224)

We know that every dental practice is unique and most practices likely have unique methods of setting up thier financial system's chart of accounts. Financial/Accounting Mapping in Practice Optimizer Premium is an important setting where you can map your Chart of Accounts (from your financial system) to match your business reporting needs. This will give you the benefit of having accurate accounting info integrated alongside your practice management software info in Practice Optimizer's reports.

Chart of Accounts From Your Financial System

A Chart of Accounts is the list of business accounts from your financial system which are used to categorize the transactions entered into your financial system. These are typically used for tracking and monitoring how much money your company has, how much it owes, how much is coming in, and how much is going out.
Practice Optimizer's Financial/Accounting Mapping allows practices to classify accounts into categories (derived from the ADCPA Guidelines), and display statistical data according to your business needs, such as expenses, supplies, marketing, staff salaries, etc..

Getting to the Financial/Accounting Mapping Setting

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• Click on "Settings" in the navigation menu on the left
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• Select Financial Mapping in the selected drop down menu
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Choosing a Mapping Category

In Practice Optimizer there are 10 categories a user can select for mapping accounts under. These come from the ADCPA Guidelines (attached to this article for your reference):

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• Other Income
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• Supplies Details
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• Support Details
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• Asset Expenses
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• Personnel Costs
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• Discretionary Costs
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• Owners Compensation
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• Other Expenses
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• Asset Details
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• Liabilities
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Mapping these categories correctly will ensure your data is accurately shown in Practice Optimizer for each financial category.

Mapping An Account

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• Select the appropriate category from the "Mapping" list on the left.
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• Check the selection box for the "Chart Of Account Name" (or row)
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• Select the appropriate "Mapping Category" and "Profit Loss" options in their respective columns for the mapped "Chart Of Account Name row. The "Mapping Category" and "Profit Loss" columns are editable. When clicking on the column field, select one of the options provided in the drop down menu and it will fill the row with the selected value.
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Note: The Chart Of Account Name and Chart Of Account Type are coming from your Quickbooks data, and can't be edited by the user inside Practice Optimizer.

It's very important to save your mapping changes by clicking the "Save" button before you edit another category, or exit the mapping screen. Otherwise, your edits/changes will be lost.

Filter by Suggestion List

You can choose to use a quick help tool called the Suggestion List for each category. Just click the Suggestion List link after selecting the category you want to map, and only the Chart Of Account items relevant to that category will appear as mapping options. It's based on a keyword and best practice logic.

Mapping Other Income

If your practice has other sources of practice revenue that aren't being recorded in their practice management system, they can check those items in Chart Of Account Name column that should be included as Other Income.

Be sure to choose the appropriate Mapping Category selection, and/or Profit Loss selection from the columns respective drop down menus.

Note: You can remove any record from mapping by un-checking the box in the Chart Of Accounts Name column. Save your updated changes before moving to the next screen.

Mapping Supplies Details

Supplies Details include: Dental Supplies, Office Supplies, Lab Supplies, Equipment Supplies (the purchase of minor equipment classified as supplies), Auto Supplies, Computer Supplies, Medical Supplies, Laundry Supplies (uniforms), and repair & maintenance parts and supplies (cleaning supplies, light bulbs, small tools, etc.). All items purchased for sales patients, regardless of the cost or nature of the purchase should be included in this category.

Mapping Support Details

Mapping Asset Expenses

Mapping Personnel Costs

Mapping Discretionary Costs

Mapping Owners Compensation

Mapping Other Expenses

Mapping Asset Details

Mapping Liabilities

Expenses in Morning Meeting Report

See attached ADCPA guidelines for the recommended Financial Mapping Categories.