Finance: Accounts Payable - Select Dental Management

Process

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Practice Leader

Send invoices, credit card support, and refunds to billing@selectdentalmanagement.com

Select Dental Accounts Payable

Invoice Submission:

All invoices must be provided to Billing@SelectDentalManagement.com
Invoices should be reviewed by the office and provided as soon as possible to avoid any delayed payments.
You can send multiple invoices in one email but make sure each invoice is a separate PDF file.
If it is urgent or delinquent invoice, please include your Regional Controller on cc and add high importance.

New Vendors Set up:

Vendor set up requests are sent to Billing@selectdentalmanagement.com
Subject of the email – New Vendor Set up
Please complete the New Vendor Form, obtain a signed W-9 Formalong with a cancelled check (refer to the Appendix)
Finance can assist you to negotiating terms, completing credit applications, etc. Contact your regional controller for assistance.

We utilize a third-party platform called Bill.com that processes our checks.
Upon final approval of the invoice, any check issued will take approximately 5-6business days to be received (approximately 2 days processing, 3 days shipping).
Payment Runs – Generally – AP issues payments 1 x per week on Wednesdays.
Invoices submitted by the prior Friday should be included in the payment run IF the payment due date is approaching
We pay bills according to the vendor terms. We plan to negotiate more favorable terms with your vendors (i.e., Net 30/45). If you submit an invoice and its due 30 days from now, payment will not be made until shortly before the date due.
Checks are automatically voided after 90 days if they are not cashed

ACH Preferable payment method versus Check:

Benefits ACH – Vendors receive their payment 2-3 times faster than traditional mail-in payment methods.
Guarantee receipt and avoid the outstanding check issue
Cost savings associated with the payment method

Patient Refunds: Please provide a patient ledger indicating name of the patient, the address to send the check, and amount to be refunded.
*** Confirm the address with the patient prior to sending to Accounts Payable
Payments are made set up every Wednesday patients can expect within 5-6 business days.
- Best to communicate 2 weeks with Patients and if necessary to be rushed, please inform AP.
Patient refunds through credit card need to be approved by Regional Controller before being processed and noted on Cash reconciliation. We would prefer these to stop but we can accommodate on a case-by-case basis.
Accounts Payable created a refund report that will be distributed monthly to each practice
Refunds should be posted to patient ledgers within one week of report receipt
The report will ONLY include refund payments made via check to patients. It will not include –
- Refunds made by credit card. Please post this as soon as the refund is processed
- Insurance Refunds

Employee Reimbursements: Please use Expense Payable template when submitting for reimbursement. Please include receipts for all items in excess of $25. (Anything under $25 does not require a receipt).
Please include:
- Employee full name
- Office/Site Location
- Description of the items/expenses

Each office is assigned a unique credit card to be used primarily for the following expenses –
- Technology and other critical recurring charges – Critical business expenses with recurring charges (i.e., Software licensing, postage machines, office copier leases, etc.)
- Utilities –All utilities should be placed on auto-charge on the credit cards (coordination with Accounts Payable to set up). Utilities are set to Autopay to avoid service disruption.
- Emergency use & Other – labs that do not accept checks, and miscellaneous office expenses that need immediate payment.
Note – We do understand there are exceptions and certain businesses that require a credit card. For any one-time expenses greater than $500, please obtain approval in advance from your Regional Controller and email all receipts to Billing@SelectDentalManagement.com.
If you need assistance negotiating terms, completing credit applications, etc. please contact your Regional Controller.
Please send all receipts to Billing@selectdentalmanagement.com.
Please use “CC receipt” in the email subject line to minimize confusion so it is clear the expense has been paid.

Citibank is SDM’s Central Bank. All offices are assigned unique Citibank account and should receive all collections except cash (if Citibank is not within a proximity to the office)
- Credit Cards (primarily through Fatt Merchant)
  - Daily Batching at 11 PM
- Checks – Insurance and Patient
  - The total checks per the Day sheet should = the total of the Bank Deposit Slip
  - Remote Check Scanner to be utilized Daily
Cash
- Local Bank Deposits – Keep in secure/locked location in office and timely deposit

When reconciling your cash, the total of on the excel must match the total in the PMS. If there are any discrepancies, they must be noted on the cash reconciliation sheet.
Other deposits that are not Practice Collections, but deposited-
- Vendor Refund Check, Doctor Reimbursement check to SDM, etc. – Deposit on a separate deposit ticket for that day and add a note on that day to the spreadsheet explaining what the check was for.

Cash Reconciliations are to be submitted no later than 11:00 AM of the 1st business day of the month.

New offices should submit their reconciliation every Monday for the prior week until the process is smooth and then can submit Monthly.
Be sure to follow up with your Regional Controller if you have any questions or feel like you need any training.