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PM101: Financial Accounting


Speaker: Jerry Forrester, FACMPE, MBA, President/CEO, OrthoSC

During this session, Jerry Forrester will cover the basics of medical office accounting and how to record and analyze your practice’s financial data. By the end of the session, you will understand how to make common financial entries, how to structure your income and expense accounts so you can analyze the data, and how to use accounting software to pay bills, execute payroll, and manage your general journal. 


After this session, you will:

  • Understand the dual entry accounting system and be able to make common financial entries to properly record bill payments, loan proceeds, capital purchases, depreciation entries, and income entries.
  • Know how to set up your chart of accounts in a way that will allow you to sort, slice, and dice financial data to answer difficult questions asked by your doctors, internal parties, and external users.
  • Be able to implement accounts payable, payroll, and general journal management using accounting software.


About the Speaker

Jerald Forrester is the President/CEO of OrthoSC in Myrtle Beach, South Carolina. He joined AAOE in 2002. For the first five years of his membership, he presented at national meetings on EQ, Ancillary use, and financial issues. He has also been part of several committees including the Conference Committee, Education Committee, Elections Committee, and Communications Council. He has written articles that have been published with MGMA and has written various whitepapers for AAOE on listserv surveys like OH, PA and compensation, new overtime rules, and PTO allocations. 



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