Accountants for Dentists

We are accountants for dentists and maintain accounting records on QuickBooks for dentists. As accountants for dentists we ensure that all revenues and expenses are categorized in the proper accounts. These reports produced are used to compare your practice to the average of the dental industry. This enables us to analyze how well a dental practice is doing financially and if there are any areas of improvement. If a practice was purchased from another dentist, we compare the new owner’s revenues and expenses to the information before the sale. This ensures you are on track to achieve the presale revenue/profit. If you are starting a new practice, we compare the revenues and expenses to your budget. This ensures you are on track to meet your targets.

The process of accounting services provided to dental practices comprises of setting up chart of accounts, recording transactions in the accounting software to proper categories as assets / liabilities / income / expense / etc. We prepare balance sheet, profit and loss statement and other reports based on the information provided by our clients. This information is obtained from copies of checks, bank statements, credit card statements, loan statements, payroll reports, etc. These documents can be provided to us via mail or by uploading scanned copies to our secure client portal. We work with our clients to prepare reports that are accurate and easy-to-understand format.

Financial Statements Sample – Click to see a set of sample financial statements

Monthly Accounting Services

We recommend monthly bookkeeping service to all our clients. This helps them keep track of their progress and a close eye on the incoming revenue and expenses in comparison to their budget. We strive to provide completed reports before the end of the following month. The monthly bookkeeping provides you the following reports:

• Profit and Loss Statement – One month and Year to Date Columns

• Balance Sheet – As of end of the day for the reporting period

• Cash Flow Statement – One month

Visit our Tax Services Page

Most dental and medical practices are setup as pass through entities such as S-Corporations, Partnerships or LLCs. Not only do these entities have to file an annual federal tax return with the Internal Revenue Service (IRS), they are also required to file a number other tax returns / forms on a quarterly or monthly basis. Non-compliance and/or incorrect filings can result in huge penalties and interest. Read more…