We provide accounting reports each month that are specific to your type of practice. Our reports go beyond the standard QuickBooks list of income and expenses. Instead, our reports provide a 3D x-ray of the financial health of your pracitce by:
- Categorizing like expenses so you know exactly what your expense ratios are (e.g. labor costs).
- Providing a comparison with other practices like yours (e.g. general dentist, oral surgeon, endodontist, plastic surgeon, etc).
- Benchmarking your income and expenses with targets we develop in our financial planning meetings.
- Converting the raw numbers into helpful graphs and charts to more easible measure your progress.
- Provide a monthly report illustrating how current you are with your tax and/or 401K funding so you don’t get behind.
- Notifying you through an email when your monthly reports are posted to your secure online PracticeCFO account.
The benefits of these monthly accounting reports include
- Increased understanding about the true profitability and financial health of your practice.
- The abiliy to easily identify financial areas needing attention in your practice.
- A monthly illustration of your progress toward your financial goals, both in the practice and personally.
- Comfort knowing you are on track to properly pay your taxes and fund your retirement plan.
- Less time maintaining your own bookkeeping
- Less time worrying about where you are with your tax obligations
- More time focusing on your patients, family, and recreation