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CRCR 4 questions with best answers
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Exam of 11 pages for the course crcr at crcr (CRCR 4 Exam)
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CRCR 4- answerCash Handling Controls
- answerFraud - 1
- answerFraud - 2
- answerCash Posting Mail Receipt of Checks
- answerIncoming Checked Received Through Mail
- answerCash Received Through Mail
- answerLock Box
- answerCash Posting
- answerDaily Reconciliation Process: In order to implement an effective daily control
process, policies and procedures for a daily reconciliation process should be developed
and implemented.
1. Obtain totals of all payments-cash, check, credit card, debit card.
2. Divide remittances into batches and obtain a second total of the electronic remittance
advices by payment and contractual allowances.
3. Endorse checks immediately.
4. Prepare the bank deposit for all payments.
5. Separate cash payments and contractual adjustments into separate batches and use
separate payment and adjustment codes.
6. Post unidentified payments to an unidentified cash account (deposit everything, do
not hold unidentified payments).
7. Balance and post batches.
8. Balance payments to the bank deposit.
9. Balance the bank deposit to the general ledger.
- answerProcessing General Ledger Cash
, - answerWhat is an Electronic Funds Transfer?
- answerWhat is EFT Balancing and Control?
- answerElectronic Remittance Advice
- answerERA Level 1
- answerERA Level 2
- answerERA Level 3
- answerERA Level 4
- answerBalancing and Control
- answerElectronic Remittance Posting Process: Balancing and Control
- answerERA Balancing and Control
- answerKey Points to Remember
- answerKnowing Credit Balances
- answerCredit Balances - Liability - 1
- answerCredit Balances - Liability - 2
- answerReasons and Resolutions
- answerIncorrectly posted allowances or incorrect payment estimates
- answerLate charge credits processed after a claim is billed
- answerDuplicate payments
- answerInaccurate upfront collections based on incorrect liability estimates
- answerPrimary and secondary payers both paying as primary
- answerResolution Process
- answerSmall Credit Balances - 1
- answerSmall Credit Balances - 2
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