Home Care Funding allocation
Now that you’ve received your first lot of funding from Medicare, how do you account for the funds in your books? Remember the funds belong to the consumer and you are just holding them on their behalf and managing their spending in accordance with the agreed budget. Allocation entries You receive the funds in your bank account from Medicare and allocate as follows: Dr Bank account Cr CDC Unspent Funds (Balance Sheet - Liability account) Then, as the consumer