05 May Outsourced Accounting Services for the Dental Practice Made Easy
You’ve been stuck with dealing with the business numbers for far too long when you should be connecting with your patients. You’ve discovered that you can outsource your bookkeeping and are ready to take the next step. Great!
As you browse bookkeepers online, you find yourself overwhelmed with an abundance of information. You don’t want all the bells and whistles of all these services; or maybe you do. Actually, come to think of it, you’re not really sure what you want. However, you do know that you only want to pay for what you need and what you need is for your business to run smoothly and be more successful. Well, we’re here to help with our explanations of these services.
At Two Roads, we offer a variety of customized account services to fit your unique dental practice. For your convenience, we have listed them below to assist you with making the best bookkeeping choice:
Bookkeeping is an incredibly important part of your practice, an arguable second to patient care. However, most dentists don’t update their books on a monthly basis and end up finding themselves overwhelmed when they finally do have time to look over the numbers. By allowing us to handle your bookkeeping responsibilities, we can ease this burden. You will always have up-to-date information to make smart, financially informed business decisions as well as more time to do the things you love.
We use QuickBooks Online aka QBO to organize and track your business financials. Each month, we enter your sales transactions, loan principals, amortizations, and interest expenses. We review the data by running an analysis to ensure its accuracy. We also reconcile your bank and credit card accounts to make them match and maintain your fixed assets and related depreciation
Financial Statement Preparation
Once all of that is complete, we’ll send you a monthly financial report including:
Profit and Loss Statement (P&L)
We compose a monthly report of your practice’s progress, comparing the current month to the previous month and the previous year. This not only helps you to set goals and track them, it allows you to quickly see what shape your business is in. Progress reports are beneficial in so much that they allow you to see what is being done well and what areas need improvement so you can make the necessary adjustments to reach or exceed your goals.
By taking advantage of outsourced bookkeeping, your financial data will be tax-ready when it’s time to file because it is updated on a consistent basis. Also, you can rest in confidence knowing that you will never miss an important deadline because you won’t be running around trying to clean up your books since you’ve neglected them for the past six to 11 months.
Two Roads is dedicated to providing you with the best bookkeeping and accounting services possible. We know how important it is for you to enjoy your practice, watch it grow, and continue to build relationships with your patients. To find out more about how we can help you do these things you love, please contact us.