Efficient bookkeeping and accurate patient ledger management are essential for a well-run dental practice. When using NexHealth for payments, it's important to understand how to properly handle gross payment amounts, net amounts, and processing fees to ensure your financial records are precise and comprehensive.

Below are some simple tips to help manage these tasks effectively:

Patient ledgers should always reflect the gross payment amounts—the full payment a patient makes before processing fees are deducted. This ensures that your ledgers accurately show what was charged and paid by the patient, which is essential for transparency and reconciliation.

NexHealth’s Ledger Sync functionality will sync the gross payment amount to the patient’s ledger. If you do not have Ledger Sync functionality, you should manually create a payment in the patient’s ledger equal to the gross payment amount. You should not modify your ledger entries to account for payment processing fees.

Your bookkeeping should reflect the impact of payment processing fees. NexHealth’s payouts to your bank account are net payment amounts—you receive the amounts paid by patients minus the associated processing fees.

You can simplify your bookkeeping by directly categorizing NexHealth deposits directly to a revenue account in your bookkeeping software. To enhance the quality of your records, you can manually create an adjusting entry to reflect the impact of your payment processing fees. This entry should:

This approach provides a clear picture of your revenue and helps you track processing fees effectively. Your revenue accounts will reflect your Gross Revenue, your COGS accounts will reflect your Fees, and your Net Revenue will be correctly reflected.

NexHealth offers a Transaction history report that provides a detailed breakdown of:

By exporting this report, you can quickly determine the total processing fees for any given period. This makes it easy to reconcile both your patient ledgers and your bookkeeping.