Overview
Practice Accounting Made Easy
Practice Accounting is the financial record keeping (or bookkeeping) that must be done to organize and account for business revenue, operating expenses, capital purchases, loans, and equity. As you may know, the IRS requires all business owners to maintain financial records which are used for preparing and filing tax returns each year. We believe that since practice accounting is required for tax purposes anyway, our doctors should also benefit from this valuable data each month and use it to make proactive decisions regarding their practice’s financial performance.
Our monthly accounting services provides a complete outsourced accounting solution to achieve this objective. Our doctors do not need to buy any software, hire any bookkeeping staff, or do any of the work themselves on nights or weekends.
Our Process
How Does It All Work
With our proven and easy-to-use process, your involvement in keeping your practice’s financial records up-to-date and accurate is very minimal. During onboarding, we establish access to your business information so our team can obtain what we need on our own without having to disturb you.
We collect your information through several methods
We reconcile, review, and analyze your data.
We generate monthly financial statement
You receive your information however it is most convenient for you.
Monthly Process
While you focus on your practice each month, our team will:
- Record every dollar that moves in and out of your business
- Input & code all transactions during the month using QuickBooks Online Accountant’s Edition
- Perform all month-end reconciliations for each of your Balance Sheet accounts
- Review our work for consistency and accuracy
- Aggregate data from your books to provide benchmarks and comparative data on every report package
- Deliver your comprehensive Practice Profitability AnalysisSM each month
Accessing Information
We will ask you to create the following:
- Guest, read-only user logins with your practice’s bank accounts and credit card institutions so that we may view the account registers and download statements.
Contact Us
Learn more about HDA Accounting Group
Set up a no-obligation consultation to discuss how our firm can provide a level of insight and perspective on your dental practice that you have not experienced before.
Call Us: 303.799.0476