Understanding Business Insights with RepeatMD

Learn how to account for RepeatMD transfer credits in the Daily Sales Summary, RepeatMD Reconciliation Report & Payment Methods report.

Tiphany Hall
16 steps
2 minutes

Aestheticrecord

During the beta phase, there are two business rules to keep in mind regarding refunds & voids: 1. If you void a invoice with a RepeatMD item on it, that item will be lost. In this phase, it does not return to the wallet as credit. This means, when you create the new invoice, you will not be able to match the RepeatMD funds to items on the new invoice. We recommend using an offline payment method (Greensky or Care Credit) to pay the items in the second version for now and include a note that it is from a voided transaction. 2. If you refund an invoice with a RepeatMD Item on it, RepeatMD items will not go back to the wallet, instead, that part of the invoice will not be refundable.

RepeatMD > Daily Sales Summary

From the dashboard, navigate to the **Business Insights** tab

Once in BI, navigate to **Sales > Sales Summary**

Your RepeatMD invoice totals will appear in **Sales from Procedures & Retail** as long as the invoice is not a Partial Payment. At the point where the invoice is finalized, we send that information back to RepeatMD to deduct the item from the Patient's wallet. So any invoice that is part of this total has already been sent to RepeatMD and reconciled! Note, regarding Patient Payments, We STRONGLY recommend that you do not use Partial Paid invoices with RepeatMD credits as it overly complicates reporting and the timing of the wallet deduction at RepeatMD.

In your **Deposit Slip Report,** you will see RepeatMD listed as a payment method, Recall from the charting overview, we treat RepeatMD transfer credits as payments as to not negatively impact your Net Sales unnecessarily. We recommend communicating this information to your CPA or Bookkeeper so they know to offset the payments into RepeatMD with the revenue we recognize in Aesthetic Record.

As you review your Payment Methods report in the Daily Sales Summary, keep in mind three things: 1. We are redeeming RepeatMD items at the *value listed in the AR cart*- not what is actually transacted in RepeatMD (coming soon in the next version). 2. We only account for items that are redeemed inside of AR in our sales number. If you compare to RepeatMD, anything you are holding as liability is not counted until it's used in AR. 3. Because we do not know the transaction amount, we can not factor in the processing fees deducted from RepeatMD at the time of purchase.

RepeatMD Reconciliation Report

To locate your **RepeatMD Reconciliation Report**, click the Sales filter inside of Business Insights.

Navigate to **Payments & Liabilities Reports**

Locate **RepeatMD Reconciliation Report**

Once inside the report, you can set your date filter range. The report will show you the invoice date, number & Patient name. It will also show you the item you redeemed from the RepeatMD wallet and which item you matched it to in the AR cart. You also see quantity and total sale amount for that item according to the price set in the AR cart.

If you prefer to work with this report outside of AR, click **Download.**

Select from Excel or CSV

The download mimics what you see in AR but with far more options to filter and analyze.

Payment Method Report

From inside BI, click the **Sales** filter.

Navigate to the **Payments & Liabilities > Payment Methods**

You will find a line item for RepeatMD. As previously mentioned, be sure to consider the following: 1. These are payment made according to the AR cart value- not necessarily what was paid to RepeatMD. 2. We do not know the transaction amount, therefore, we cannot provide information on Processing Fees. 3. If an invoice is voided, the payments for RepeatMD still stand.

We strongly recommend that you do not use a RepeatMD transfer credit on a Partial Payment invoice. Because of how they are added to the Sales Summary to avoid double counting the revenue, they are not finalized until full payment is received. This will delay the transfer from RepeatMD to AR and could result in the double use of a single item.