What you can use it for
The GL report is designed for three things:
Closing out the day: Did the money you recorded match the money that moved?
Reconciling with your bank: The cash rows correspond directly to bank deposits.
Sharing with your accountant: The report is formatted as accountants expect, so no translation is needed.
Set up GL accounts before you run the report
The GL report groups revenue, discounts, and payments by GL account. Before you run the report, create GL accounts and assign one to each product, discount, and payment method. Without GL accounts, the report cannot segment revenue and payment information.
Items without a GL account assigned will be grouped into one line on the GL report labeled as No GL Code Assigned under the GL Account column.
The four tabs
Tab | What's in it |
Report Info | Your practice name, location, the date range you ran it for, and the time zone |
Glossary | Definitions for every row label on the report. If a term is unclear, check here first. |
General Ledger | The main report: a summary of all financial activity for the period |
General Ledger Detail | The line-by-line breakdown behind every summary number, including every payment and invoice |
Tip: If a number on the summary does not look right, the Detail tab displays exactly what is behind it. See General Ledger Report: Detail Tab for more details on how to use it. |
Revenue appears when an invoice is closed, not before
Your practice earns revenue when an invoice is closed and finalized. Until that happens, even if a patient has been seen and charges have been added, nothing appears in the report's Sales rows. The report only displays finalized activity, not work in progress.
What about payments made before the invoice closes? If a client pays a deposit or pays toward a visit that is still open, that payment still appears on today's report. It sits in a holding row until the invoice closes. At that point, the payment is applied and the invoice revenue is recorded. Nothing is counted twice.
Note: If an invoice is reopened after it has been closed, the revenue is reversed on the day it is reopened. The original day's report does not change. |
The totals always match
The report has a Total row at the bottom. The Debit total (money in, or newly owed) and the Credit total (revenue earned, tax collected, deposits held, or an old IOU being cleared) are always equal. Every dollar is accounted for on both sides.
Multi-location practices
If your practice has more than one location in Instinct EMR, each location gets its own report. Payments and refunds appear in the location where they were recorded. Revenue appears at the location where the visit took place.
If you are a single-location practice, this does not apply, and everything is in one report.
The report uses your local time zone
All activity is recorded using your practice's local time zone. A payment processed at 11:50 PM counts for that day. A payment processed at 12:10 AM counts for the next day.
If a transaction is corrected (a voided payment, a date change, or a reopened invoice), the correction appears on the day it was made, not the original day.
Frequently asked questions
Where do I download the GL report?
In Instinct EMR, go to Analytics → Reports → General Ledger Report → Generate New Report. Select the date and time, then select Generate.
Can I run the report for more than one day?
Yes. You can select any date range up to 31 days when generating the report.
Why does my report say "No GL code assigned"?
The product, discount, or payment method has no GL account assigned. The amounts are still counted in your totals. To fix it, assign a GL account. See Create and Assign General Ledger Accounts.
Still need help?
Contact support via live chat or email [email protected].