Monthly Practice Bookkeeping

Professional Monthly Bookkeeping

Our Most Essential Service!

The monthly process of maintaining your practice books is the most essential service our firm provides.  As you probably know, your financial information must be organized in order to prepare and file a tax return each year. Since your practice bookkeeping is required to be done anyway, we feel that you should benefit from this valuable data each month so that you can use it to make proactive decisions regarding your practice.  

Our monthly accounting service will provide you with groomed and up-to-date financial statements delivered monthly.  With this information you will always know the current financial position of your practice.

Because we want to stay in close contact with you, included in our monthly service is a complete review of your practice performance every four months. During these consultations, we will discuss your practice profitability and how your practice compares to industry averages. You can read more about this important benefit on the next page.

What Is Your Time Worth?

Failure to have accurate financial records maintained for your practice can have many adverse consequences.  These consequences may not always be immediately apparent, but they often manifest themselves when it is time to prepare tax returns and can result in unwelcome and unpleasant surprises. Most practice owners are aware of this pitfall and must decide how to maintain their practice bookkeeping to stay on top of their business.

Do-It-Yourself:  Some dentists may attempt to do their own bookkeeping in an effort to save money.  Unfortunately, accounting is not an intuitive discipline and an untrained practice owner can create big problems in the their financial records which often must be corrected when a professional CPA reviews the books in order to prepare the tax return.  Not only can fixing accounting errors be expensive, but it renders much of the time the dentist spent struggling with the books on nights and weekends largely ineffective and unproductive.

Most dentists produce between $400 and $1,200+ per hour.  The cost of having your books professionally maintained usually equates to 30 to 40 minutes of production per month depending on the practice size and dentist productivity. Accordingly, it is best to leave business accounting to the professionals and spend your time producing income and enjoying your hard-earned quality of life.

In-House Bookkeeper:  An in-house or contract bookkeeper can have several disadvantages. First, the bookkeeper must be supervised by you to ensure that they are at work on time and performing their duties per your expectations. Second, without direct supervision by a trained professional accountant or CPA, an in-house bookkeeper may inadvertently make errors which can go undetected and be costly to fix when the error is eventually discovered. 

With our monthly service, your practice bookkeeping will always be up-to-date without you having to supervise an employee or send your books off to be processed at the end of the year. Our staff will be responsive to your needs and provide you with accurate financial statements each month.

The cost to have your financial records professionally maintained by our dental-specific CPA firm is far less than paying an employee or contractor to do the same work.  In addition, you benefit from having an entire firm with structured quality controls in place to serve you when you need it.

What Our Service Provides For You

Our firm produces financial statements for you each month following a comprehensive and professional production process.  This process includes several key tasks performed for you by our staff:

  • Proper entry of all transaction information into your QuickBooks file.
  • Analysis of your General Ledger for accuracy and completeness of your transactions.
  • Complete monthly reconciliations of your bank and credit card accounts.
  • Maintenance of your fixed asset accounts during the year for tax planning purposes.
  • Journal entries made to record your correct loan amortization and interest expense.
  • Journal entries to segregate payroll expenses so that you may examine separate costs for hygienists, chairside assistants, administrative staff, associate doctors, and owners.
  • Preparation, review, and delivery of your Financial Statements.
  • Responsiveness to your needs so you are highly informed about your practice’s financial performance.

You will find that our monthly accounting service is convenient, easy to use, and produces results you are happy with without requiring much effort from you or your staff.

if you would like more information, please contact us by using the form below:

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