LedgerMatch
Bank Reconciliation for Medical & Healthcare Practices in Lexington, KY
A practical CSV-based bank-to-ledger workflow for medical practices bookkeepers serving businesses in Lexington.
Bookkeeping context in Lexington
Lexington's horse industry, healthcare, and University of Kentucky create a diverse bookkeeping market with equine business accounting being a specialty unique to central Kentucky. Chase and Truist (formerly BB&T) are the dominant commercial banks in Lexington. LedgerMatch handles both CSV formats and reconciles Lexington business accounts against QuickBooks or Xero in under 10 minutes.
Medical & Healthcare Practices reconciliation workflow
Medical practices receive payment from a complex mix of sources — insurance ERA (electronic remittance advice) deposits from Medicare, Medicaid, and private insurers, patient copays via POS terminal, and patient balance payments via mail or patient portal. Each source deposits on a different schedule and with a different amount than what's in your practice management software. LedgerMatch matches every insurance ERA deposit and patient payment against your QuickBooks or Xero ledger in under 10 minutes — giving medical practice bookkeepers a clean reconciliation without hours of manual matching.
Local and industry considerations
- Kentucky has a flat 5% corporate income tax. Lexington businesses also pay the city's net profits license fee — accurate monthly reconciliation supports both filings.
- Insurance EFT batches consolidate payments from multiple patients into a single deposit, making it difficult to match each bank entry to individual patient accounts without a systematic reconciliation process.
Common banks and accounting tools
- Chase
- Truist Bank
- PNC Bank
- Wells Fargo
- Chase
- Bank of America
- QuickBooks Online
- Kareo
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