About interim costing

In cost accounting, interim costing is essentially current day costing - what is the cost of an encounter from yesterday. This must be done in the current model, not in a previous (dated) model.

Interim costing is done as part of cost processing:

  • “Interim costing source” is an historical data point (this is what it costs us in the past to identify current cost).

  • “Interim costed” is applying that source to the current encounters.

Configure interim costing

As you manage your cost models, bear in mind the following requirements regarding interim costing source and your interim costing:

  • <Required> Define your interim costing source(s) (where are you going to be getting your data from). For example, you have closed out cost accounting last year, (December 31), feel that the data is good, and want to use that as your interim cost source. Alternatively, you may not feel comfortable with your year-end data yet, and want to use data from an earlier (September 30) model.

  • Interim costed – You must configure interim cost for the current and future period. For instance, if it is March, the cost model that is interim costed must include March because that is where the data will reside. You must have your future (dated) cost period set up and ready to turn on for interim costing on the first day of the new period.

  • Your interim cost source must cover all the entities you want to run interim costing for.

  • Only one source per entity per period is allowed.

  • Ensure you have no overlaps in your edits for your models. Messages will direct you as to what is allowed.

  • Ensure that your system admin has scheduled the interim costing processing job to run nightly.

  • Scheduling: Schedule a job at the end of a nightly data load in background to run and populate the interim cost results. In other words, take the last data load that costing was run, and apply these results to the encounter data you are receiving nightly. This nightly job will do that, allowing a department manager to review essentially real-time data, and make decisions at a faster pace and with more accuracy than in the past. For more information, see Configure Scheduler system jobs and Defining scheduling rules for a job.

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