"What is the difference between write-off and accept (balance) and close?"
A write off should only be done when you are eligible for the claim but due to circumstances such as invalid patient insurance, you cannot recover payment. This would qualify as a true write off that you can use for tax purposes.
What this considers is that the claim should have been paid the amount that was billed, but it got less than that (or nothing). “Writing off” will close the claim but leave the amount billed as is, essentially saying that money has been lost on this claim. This option will show up on your "Income and Expense" reports for year end accounting purposes.
What “Balance and close” does is consider that the amount that was paid is correct and what should have been received all along. Therefore, this action will change the amount that was billed to match the amount that was paid. Essentially, the claim will be considered to be paid in full, whether it was paid with adjustment or paid at $0.
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