Dental Bookkeeping Bookkeeping for Dentist LLC

You may have a way to enter it yourself if you have the accounting software on computers in each treatment room. Or, you might need to tell the bookkeeper yourself when the patient leaves. This is especially important when you do more or less than what you estimated doing.

The service requires full cookie support in order to view this website. These are important distinctions that might be overlooked when using a standard COA as opposed to a dental industry COA. If you hire a virtual bookkeeper, you should plan on having a face-to-face interview via Zoom or Skype.

Close Your Books The Right Way

A Generalist doesn’t understand the profit levers of a dental practice like we do. Keep your dental practice from falling behind on its bookkeeping responsibilities! Consider taking advantage of the professional bookkeeper to fill financial gaps – knowing your finances are in good hands. With their help, you can worry less about making mistakes and more about returning patients visiting and patient care.

• They’ve taken great care of us and I really can’t say enough good things about them.
• Learn how to do bookkeeping correctly for a dental practice in QuickBooks Online, from start to finish.
• By keeping track of purchases from vendors, sales to customers, and employee wages paid out, you can easily monitor the cash flow within your business.

It’s important to keep in mind that inaccurate bookkeeping practices will impact the profit and loss statement most of all. Inaccuracies can create a snowball effect with one missed transaction snowballing into a cash flow issue. Every misguided transaction will significantly affect your statement and improper bookkeeping could lead to making misinformed decisions that could put your practice at great financial risk. Afterall, bookkeeping is a specialized field requiring financial acumen and expertise in organizing and preparing financial records so the numbers make sense and can be easily analyzed and interpreted. If your dental bookkeeping is not done right, you could be making business decisions with poor and unreliable information.

Track Root Canal Procedures Separately

This checklist breaks it down with important steps you can you follow and build on as you work through your own bookkeeping each month and year. We have a different checklist for the end of the year when closing the books for the CPA to take over. We download and organize all month-end bookkeeping related documents for our dental practices into Dropbox folders for each client.

Third, consider any financial decisions before committing yourself or your practice to them. Every dental practice needs to be diligent when it comes to bookkeeping. The world of finance can be complicated and overwhelming, but with the proper guidance and resources, you can quickly master the art of keeping your dental bookkeeping in order. To reconcile your account means making sure that all the transactions in your QuickBooks match up to the transactions in your bank statement and that there are no disparities between the two.

Do I need a dental accountant?

Keep in mind that testimonials are usually solicited, and no firm will share a testimonial that isn’t positive. As we mentioned above, one of the key duties of a professional bookkeeper is to create a chart of accounts. Luckily, equity definition has many combined years of expertise in this area and you can rest easy knowing that your finances are in very qualified hands. Our Chief Learning Officer is guiding our bookkeepers daily to improve and develop their expertise as dental bookkeepers.

At Sigma, we provide financial reporting that makes your dental business run smoother. We offer a wide range of bookkeeping services to dentists and dental practitioners that offer new opportunities to improve their practice. Our in-depth knowledge about the dental business and years of experience in dental bookkeeping allows us to develop unique accounting and bookkeeping solutions, especially for dentists. We are here to take care of all the time-consuming bookkeeping work for you.