Financial Interface with Sage 50 For incorporated Physician - - PowerPoint PPT Presentation

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Financial Interface with Sage 50 For incorporated Physician - - PowerPoint PPT Presentation

Mar 06, 2024 351 likes •799 views

Financial Interface with Sage 50 For incorporated Physician Societies Financial Interface FEMS Sage 50 Physician Claim: $ 150.20 Physician Claim: $ 150.20 Director Claim: $ 135.20 (paid VersaPay) 1 Claims Director Claim: $

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For incorporated Physician Societies

Financial Interface with Sage 50

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Claims Expenses Supplier Claims

Internal Operating Expenses

1 2 3 4 Financial Interface FEMS Sage 50

  • Physician Claim: $ 150.20

(paid VersaPay)

  • Director Claim: $ 150.20

(paid by cheque)

  • Parking Expense: $ 12.50

(paid VersaPay)

  • Catering Service: $ 170.75

(paid by cheque)

  • Office Rent: $ 1300.00

(paid by cheque or PS credit card)

  • Physician Claim: $ 150.20
  • Director Claim: $ 135.20

Income taxes

$ 15.00

CPP (PS pays Gov.) $ 5.00

  • Parking Expense: $ 12.50
  • Catering Service: $ 170.75

Total: $ 155.20

Difference between FEMS and Sage 50:

$ 1305.00

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Generate Extract in FEMS Manage Manual Payments

Payment Requests in FEMS

Physician Claim Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Expense VersaPay: $150.20 Cheque: $150.20 Cheque: $170.75 VersaPay: $12.50

Pending

Cheque: $300.40 Cheque: $450.60 Cheque: $512.00 Supplier (MOLLY Catering) Director Claim (Dr. JOHN) Director Claim (Dr. JOHN)

Pending Pending Pending Pending Pending Pending

REGROUP Payments REGROUP Payments

Import Extract into SAGE 50

FEMS

1 2 3 Extract

Physician Claim Supplier Claim Expense

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5

Manual Payments Requisition Report

4 Payment Requisition REPORT in FEMS

Physician Claim Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Expense VersaPay: $150.20 Cheque: $150.20 Cheque: $170.75 VersaPay: $12.50 Cheque: $300.40 Cheque: $450.60 Cheque: $512.00

Payment Request

RTXC56

Payment Request LWPO57

FEMS SAGE 50

Run Payroll in SAGE 50

Payroll in SAGE 50

Director Claim (Dr. JOHN) Cheque: $150.20 Cheque: $300.40 Cheque: $300.40 Cheque: $450.60 Cheque: $150.20 Director Claim (Dr. JOHN) Director Claim (Dr. JOHN) REQUIRED DEDUCTIONS: Income tax & CPP Director Claim (Dr. PAUL) Director Claim (Dr. PAUL) REQUIRED DEDUCTIONS: Income tax & CPP

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Mark Manual Payments Paid

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FEMS FEMS

Run Income Statement

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Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Cheque: $150.20 Cheque: $170.75 Cheque: $300.40 Cheque: $450.60 Cheque: $512.00 Supplier (MOLLY Catering) Director Claim (Dr. JOHN) Director Claim (Dr. FOX)

Mark Manual Payments PAID in FEMS

Paid Processing Paid Processing Paid Processing Paid Processing Paid Processing Paid Processing Paid Processing

Director Claim (Dr. FOX) Cheque: $150.20 Director Claim (Dr. JOHN) Cheque: $300.40

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SAGE 50

Process Internal Operating Expenses Run Financial Statement Create IOE Transaction in FEMS

$ 2120.00

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SAGE 50 FEMS

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FEMS SAGE 50 (SAGE)

Generate Extract Manual Payments Requisition Report Mark Manual Payments Paid Create IOE Transaction Manage Manual Payments Import Extract into SAGE Run Payroll in SAGE Process Internal Operating Expenses

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Financial Interface Part I

Run Income Statement Run Financial Statement in SAGE

10 8

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Generate Extract

FEMS FEMS . .

Extract

Physician Claim SupplierClaim Expense

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Generate Extract

  • identifies finance entries not previously

extracted for the specified physician society

  • creates the export file in the appropriate

format: QuickBooks or Sage 50

Button to generate new extract

History of previous extracts generated with pertinent details

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Generate Extract

The *End Date must be less than today's date. You may typically want to select an end-of-week, mid-month or end-of-month date. NOTE: this date must match the End Date of the Generate Manual Payments Request.

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Generate Extract

New Extract Generated is now available to you in the updated list of extracts Download the extract file NOTE: These finance transactions must not have been uploaded and applied to the PS’s accounting system Undo button unmarks previously extracted finance entries for this specific extract

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Import into SAGE 50

SAGE 50 SAGE 50

4550 3345 6787 9012 John Smith

VISA

$

Extract

Physician Claim SupplierClaim Expense

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For Sage 50: the extract file is a zip file VGHPS_20170216_ExtractNumber_FE-000036.zip

  • 1. Extract the text files from within the zip file
  • 2. Each text file needs to be imported (one for each transaction date)

VGHPS_20170208_ExtractNumber_FE-000036.txt VGHPS_20170207_ExtractNumber_FE-000036.txt

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Click Switch to Enhanced View Check your Session Date is changed so that it reflects the accounting date you desire

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Complete the steps in the Import Transactions Wizard as follows

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Complete the steps in the Import Transactions Wizard as follows

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Complete the above import task for each extract .txt file

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Manage Manual Payments in FEMS

Payment Requests in FEMS

Physician Claim Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Expense VersaPay: $150.20 Cheque: $150.20 Cheque: $170.75 VersaPay: $12.50

Pending

Cheque: $300.40 Cheque: $450.60 Cheque: $512.00 Supplier (MOLLY Catering) Director Claim (Dr. JOHN) Director Claim (Dr. JOHN)

Pending Pending Pending Pending Pending Pending

REGROUP Payments REGROUP Payments

Payment Requests in FEMS

Physician Claim Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Expense VersaPay: $150.20 Cheque: $150.20 Cheque: $170.75 VersaPay: $12.50

Processing

Cheque: $300.40 Cheque: $450.60 Cheque: $512.00 ONE Payment ONE Payment

Processing Processing Processing Processing Processing Processing

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Manage Manual Payments

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Manage Manual Payments

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Manage Manual Payments

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Manage Manual Payments

Click on Proceed to generates the cheque requests

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Manage Manual Payments

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Manual Payments Requisition Report in FEMS

Payment Requisition REPORT in FEMS

Physician Claim Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Expense VersaPay: $150.20 Cheque: $150.20 Cheque: $170.75 VersaPay: $12.50 Cheque: $300.40 Cheque: $450.60 Cheque: $512.00

Payment Request

RTXC56

Payment Request LWPO57

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Manual Payments Requisition Report

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Manual Payments Requisition Report

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1 2 3 4

Run Payroll in SAGE 50

SAGE 50 SAGE 50

4550 3345 6787 9012 John Smith

VISA

$ Payroll in SAGE 50

Director Claim (Dr. JOHN) Cheque: $150.20 Cheque: $300.40 Cheque: $300.40 Cheque: $450.60 Cheque: $150.20 Director Claim (Dr. JOHN) Director Claim (Dr. JOHN) REQUIRED DEDUCTIONS: Income tax & CPP Director Claim (Dr. PAUL) Director Claim (Dr. PAUL) REQUIRED DEDUCTIONS: Income tax & CPP

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Mark Manual Payments Paid in FEMS

Director Claim (Dr. JOHN) Supplier (MOLLY Catering) Cheque: $150.20 Cheque: $170.75 Cheque: $300.40 Cheque: $450.60 Cheque: $512.00 Supplier (MOLLY Catering) Director Claim (Dr. JOHN) Director Claim (Dr. FOX)

Mark Manual Payments PAID in FEMS

Paid Processing Paid Processing Paid Processing Paid Processing Paid Processing Paid Processing Paid Processing

Director Claim (Dr. FOX) Cheque: $150.20 Director Claim (Dr. JOHN) Cheque: $300.40

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Mark Manual Payments Paid

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With the Manual Payments Requisition Report used to write the cheques, find the corresponding cheque request and click the button Mark Paid

Mark Manual Payments Paid

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  • Specify the cheque number used to settle

this cheque payment request (marked 1 in the diagram).

  • Specify the Payment Date (marked 2). This

defaults to today’s date but can be back-

  • dated. Forward-dating is not supported.
  • Add any additional comments (marked 3)
  • Click the button Mark Paid (marked 4)

Once this step has completed, the cheque requisition status is updated to Paid

Mark Manual Payments Paid

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The detail of the cheque payment can be seen by removing the default filter restriction and then clicking on the line item of interest for the member cheque payment just marked as completed

Mark Manual Payments Paid

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Mark Manual Payments Paid

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Run Income Statement

Income Statement

Member Time $ 1400 Salaries & wages $ 750 Meals $ 920 Meeting Expenses $ 260

FEMS FEMS . .

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Run Income Statement

41,209.30

41,209.30

FEMS

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Run Financial Statement in SAGE 50

SAGE 50 SAGE 50

4550 3345 6787 9012 John Smith

VISA

$

Income Statement

Member Time $ 1400 Salaries & wages $ 750 Meals $ 920 Meeting Expenses $ 260 Office Rent $ 2120

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Run Financial Statement

CPP Expense $ 337.33 Office Expenses $ 17,600.54 Banking Fees $ 29.97

  • Profess. Fees $ 2,636.81

Total of IOE $ 20,604.65

SAGE 50

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Create an IOE Transaction in FEMS

Total of IOE in SAGE 50: $ 20,604.65 FEMS $41,209.30 SAGE $60,256.84

SAGE 50

FEMS

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Create an IOE Transaction

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Create an IOE Transaction

20,604.65

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Financial Interface Part II FEMS Sage 50

Generate Extract Run Income Statement Import Extract into Sage 50 Run Financial Statement in Sage 50

11 14 13 Compare FEMS Income Statement with the Financial Statement in Sage 50: they will balance 12

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femssupport@doctorsofbc.ca

Contact FEMS Support

604-638-4869 or 1-800-665-2262

www.fems.facilityengagement.ca