Bookkeeping For Dentists

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How to Calculate Dental Office Overhead

Bookkeeping For Dentists

Too often, dentists are super focused on production, but they are not monitoring their dental overhead expenses, which is a huge factor in what you get to take home. That kind of mentality will force you to work harder. If you are increasing production, but not improving your practice systems to get better control on practice overhead expenses, you may be spinning wheels.

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5 Secrets to cut dental accounting fees in your dental practice

Bookkeeping For Dentists

Have you ever noticed when your dental accountant starts talking, its a downright foreign language? Almost alien. They start throwing terms around like Gross Profit, Section 179, Basis, Capital Gains, AMT Tax… and you say “gesundheit.”. I’m guessing you most likely don’t find accounting exciting, and you don’t have the time to understand it. As your dental accountant is going over fees with you, you force a smile and nod in agreement.

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Employee gifts in your dental practice: are they taxable income?

Bookkeeping For Dentists

Thanking your dental practice team with nice gifts and bonuses should be a pleasant and simple process while providing a positive impact in the workplace. But if you want to avoid IRS penalties in an audit, it's important to know that any cash or cash equivalent items provided by you (the employer) and given to an employee must be added to payroll as income with regular payroll taxes taken out.

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Six overhead expense benchmarks to live by in your dental practice

Bookkeeping For Dentists

What are Dental Expense Benchmarks? Every practice has variations in their expenses such as paying rent or paying mortgage, if you have associates, and how many employees you have. But there is a clever way to group together specific expense accounts from your Profit & Loss report into six bite-size categories. Then you compare those six categories of overhead expenses against national averages of dental practice expenses calculating them as a percentage of income.

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Five efficient methods to streamline paying bills in your dental practice.

Bookkeeping For Dentists

We have dental practices from 500k in revenue to 8 million in revenue that manually write 2 to 3 checks per year. It keeps the books clean and transparent along with the cash flow consistently accurate. Every practice can benefit from streamlining bills and reducing the old school check writing for many reasons, including the following: Always have a reliable cash balance.

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How to start a dental bookkeeping checklist to follow in your practice today.

Bookkeeping For Dentists

When you have finished entering your transactions from your bank and credit card accounts, do you go back and check your work? Does your CPA have to constantly remind you to do certain tasks or do you have to constantly remind your dental practice's bookkeeper? Here at Bookkeeping for Dentists, every staff accountant must complete a monthly checklist for each practice they finish for month-end bookkeeping.

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7 Reasons to fire your dental practice CPA today.

Bookkeeping For Dentists

We currently work with more than 100 CPA's here at Bookkeeping for Dentists. Unfortunately, it's very rare to come by a dental practice CPA that does all seven of the following items as they should. But there are a handful, okay maybe. 4ish that I've worked with, who have been awesome with this list. The ones who fail to follow the below list are the ones that make my blood boil.

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