AuDExperts’ Post

Do you feel like you are flying blind when it comes to your practice financials? Take control with the help of Books & Benchmarks. Our experts are here to help you gain a deep understanding of your financial health. Books & Benchmarks was created to: Simplify practice operations with timely and reliable outsourced bookkeeping services. Deliver the industry’s most comprehensive and valuable set of financial and operational benchmarks. Free up precious time spent on time-consuming tasks like running payroll and managing personnel changes. Books & Benchmarks provides the tools and insights you need to make informed, meaningful decisions for your practice. Learn more at https://lnkd.in/ewDkWg-i

Unlocking Financial Success: Key Strategies for Dental Group Growth Discover the essential steps to building a thriving dental group or DSO. Learn how to establish solid financial infrastructure, proper bookkeeping practices, and the importance of qualified team members. Set your dental group up for long-term success. #DentalGroupGrowth #DentalServiceOrganization #FinancialSuccess #BookkeepingTips #QualifiedTeamMembers #DentalPracticeManagement #DSOStrategies #BusinessGrowth #FinancialInfrastructure #DentalBusinessTips

Time is money. When you are running a practice, you can't afford to waste either. Handling your own bookkeeping takes away valuable time that could be spent on patient care. Books & Benchmarks provides monthly financial reconciliation that keeps you on top of your practice's finances. Learn more at https://bit.ly/3UAU9E0

Doing your own bookkeeping? Be aware of these common errors that can significantly impact your balance sheet and overall financial health: 1. Incorrectly categorizing transactions can distort your financial statements and lead to inaccurate financial analysis. 2. Forgetting to record transactions can create imbalances and an incomplete picture of your financial situation. 3. Entering the same transaction more than once can inflate your income or expenses, leading to erroneous financial data. 4. Failing to reconcile your accounts regularly can result in discrepancies between your records and actual bank statements. 5. Not accounting for depreciation of assets can overstate your asset values and misrepresent your financial position. 6. Inaccurate inventory tracking can lead to errors in the cost of goods sold and inventory valuation. Need help ensuring your bookkeeping is error-free? Contact us for professional bookkeeping services and gain peace of mind knowing your finances are in expert hands! #FinancialHealth #BusinessFinance #engineers #engineer #engineering #contractor #trademen #medicalprofessional #doctor #medicaloffice #medical #dentist #dental #dentaloffice #fitnessstudio #fitnesscenter #fitnessgym #gym #servicebasedbusiness #MiamiBookkeeper #MiamiAccountant #FloridaBookkeeper #FloridaAccountant #ValezarandAssociates

🦷💰 Kickstart Your Week with Financial Wellness! Want to keep your dental practice’s finances in check? Managing your Accounts Receivable (AR) is key to running a smooth, successful practice! From weekly AR reports to collecting payments on the spot, these simple strategies can make all the difference. 🙌 Check out our latest blog post for 5 easy tips to streamline your billing process and keep your cash flow healthy. 💪 Start your Monday off right by reading it now! 📖 👉 Comment 'blog' and we'll send you the link, or even better—subscribe to our newsletter and get fresh tips delivered every Monday! Don't forget to share with fellow dental professionals who might find this helpful! 💡 Let’s get those finances in top shape together! 😊

𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗯𝘂𝗱𝗴𝗲𝘁 𝗺𝗮𝘇𝗲 𝗼𝗳 𝗮 𝘀𝗺𝗮𝗹𝗹 𝗱𝗲𝗻𝘁𝗮𝗹 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗲 requires a mix of vigilance, strategic planning, and a touch of creativity. Here's how I've been steering my practice towards financial health, while keeping our core mission of quality dental care front and center: • 𝗦𝗺𝗮𝗿𝘁 𝗧𝗿𝗮𝗰𝗸𝗶𝗻𝗴: Keeping a close eye on our expenses has become part of our daily routine. It's like checking the pulse of our practice - a quick, regular check-in helps us adjust and stay on track financially. • 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝘆 𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴: We've learned to focus our spending on what truly matters - the tools and supplies that directly impact the quality of care we provide. It's about investing wisely, ensuring our patients always receive the best treatment possible. • 𝗦𝗺𝗮𝗿𝘁 𝗡𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗼𝗻𝘀: We've gotten pretty good at talking with our vendors, working out deals that benefit both sides. Whether it's scoring a discount or arranging a more flexible payment plan, every little bit helps stretch our budget further. • 𝗢𝘂𝘁𝘀𝗼𝘂𝗿𝗰𝗶𝗻𝗴 𝗦𝗺𝗮𝗿𝘁𝗹𝘆: For tasks outside our expertise, we've found value in outsourcing. This strategy not only saves money but also allows us to focus more on our patients and less on the administrative tasks. • 𝗔 𝗦𝗮𝗳𝗲𝘁𝘆 𝗡𝗲𝘁: Unexpected expenses? They don't catch us off-guard anymore. We've set up a contingency fund, a financial safety net, that helps us handle surprises without derailing our budget. • 𝗘𝘅𝗽𝗲𝗿𝘁 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: Finally, we're not too proud to seek advice. Consulting with financial professionals has opened our eyes to new strategies and optimizations, ensuring our budgeting is as effective as it can be. In the end, it's about more than just numbers; it's about ensuring our practice remains a place where quality care and financial health go hand in hand. What are your tips for managing a budget in a small practice? Let's share and learn from each other.

Doing your own bookkeeping? Be aware of these common errors that can significantly impact your balance sheet and overall financial health: 1. Incorrectly categorizing transactions can distort your financial statements and lead to inaccurate financial analysis. 2. Forgetting to record transactions can create imbalances and an incomplete picture of your financial situation. 3. Entering the same transaction more than once can inflate your income or expenses, leading to erroneous financial data. 4. Failing to reconcile your accounts regularly can result in discrepancies between your records and actual bank statements. 5. Not accounting for depreciation of assets can overstate your asset values and misrepresent your financial position. 6. Inaccurate inventory tracking can lead to errors in the cost of goods sold and inventory valuation. Need help ensuring your bookkeeping is error-free? Contact us for professional bookkeeping services and gain peace of mind knowing your finances are in expert hands! bit.ly/4diHtcg . . . #FinancialHealth #BusinessFinance #BusinessFinance #FinancialHealth #VirtualBookkeeping #RemoteBookkeeper #BookkeepingPro #Bookkeeper #BookkeepingTips #Accounting #Bookkeeping #CloudBookkeeping #BusinessOwner #EntrepreneurLife #Entrepreneurship #SmallBiz #TaxTips #dentists #healthcareproviders #fortsmithbookkeeper #fortsmithaccountant #arkansasbookkeeper #arkansasaccountant #kirkbusinesssolutions

🦷💡 Dentists who outsource their accounting to Rehfeldt Group CPAs spend more time on patient care and less on paperwork! Keep those smiles bright, while we keep your books balanced. Learn more here: https://bit.ly/3SIDugb #DentalCare #OutsourcedAccounting #SmileMoreWorryLess #BusinessAdvisory #RehfeldtGroup

Here are three tips for self employed individuals 1. **Separate Personal and Business Finances:** Open a separate bank account and credit card for your business expenses. This makes tracking expenses and filing taxes much simpler. 2. **Keep Detailed Records:** Maintain accurate records of all income and expenses. This includes patient payments, medical supplies, equipment purchases, and any other business-related costs. Consider using accounting software or hiring a professional to help manage your finances. 3. **Plan for Taxes:** Set aside a portion of your income for taxes. As a self-employed medical doctor, you may be responsible for paying both income taxes and self-employment taxes. Consult with a tax advisor to understand your tax obligations and ensure you are properly prepared.

Do you find yourself in a situation where money seems to come in and go out of your dental practice at lightning speed? Bills never seem to stop, payroll sneaks up on you, and there's always a supply or lab bill waiting to be settled? It's just the way things are in this business - there's always something to spend money on. But have you ever wondered where all that money actually goes? The chart of accounts can look overwhelming, with so many items listed. To make sense of it all, I like to take a step back, take a breather, and organize the chart of accounts. Organizing your expenses alone will help you understand your practice's finances much better. Learn more on this topic here: https://lnkd.in/eA7CpXM2 https://lnkd.in/enc5--PR _ 💰 Implement the Profit First tried-and-true method to boost the cash flow & profitability of your practice. ✨ Subscribe to the Profit First for Dentists YouTube channel and visit our website to learn more about April Stroink and the Profit First system. _ #dentalpracticegrowth #financialcoaching #dentistpracticegrowth #privatepracticegrowth #businessgrowth #dentistgrowthstrategies #businessgrowthstrategies #dentalpractice