7 Helpful Tips for Dental Bookkeeping

Credits (income coming in) and debits (money going out) are recorded in a general ledger. By recording the transactions, dental practice owners can track where their money is going and how https://www.bookstime.com/ much they earn. The payroll costs for your team of practitioners will be listed under your cost of goods sold category, while your admin staff will be listed under overhead expense.

But this duo works even better when you target keywords with high commercial value. The traffic value of these posts shows they save up to $40,000 on Google ad costs. With the landing pages set up, they conducted research to find commercial and transactional keywords. They also did competitor analysis and found and bid on many location-based keywords.

Accurate Dental Bookkeeping Services

Ingenious dental practice payroll tools that save dentists time and money. For example, one important rule in our bookkeeping process, (but so rarely followed by almost every practice that comes to us) is each and every transaction in QuickBooks needs a vendor name. It's super easy to miss because of the way QuickBooks imports the transactions from the bank without the names in the vendor column but has it in the memo. Let me know if you'd like me to explain the importance of this and how to do it in more detail, but this is a good example of what you have to remember to do before you start doing anything.

We have efficient processes that are ready to implement for your practice, cutting down the time and cost of hiring someone from scratch. Keeping current and accurate financial statements should be a top priority for dental practices. Having concise financial data allows dental professionals to make critical business decisions at a moment’s notice. At Casey Moss Tax, we provide a tailored experience to dentists and oral healthcare practices, helping you minimize your tax obligations and improve your bottom line every year. Dental practices present unique accounting challenges requiring specific dental bookkeeping and accounting services.

Keep Track Of Your Facility and Equipment Costs

Whether you’re doing it yourself or delegating it to your office manager there are a few helpful tactics you can use to simplify the process. Therefore, at the top of our checklist, we list items that we need to remember before we start anything. To help you set yourself up for success, here are some common pitfalls dentists fall into that you dental bookkeeping should know to avoid. That’s because litigation is one of the most significant risks in the healthcare industry, and you can’t afford to leave yourself exposed. As a result, dentists generally must choose from corporate and LLC structures. While this can be costly, consider treating it as an investment, just like your practice’s equipment.

This format will both engage and reinforce the impact of your services and boost confidence. Two dentists who use the organic approach on TikTok are @thebracesguy and @veneercheck. Create visually appealing content that educates people on bad habits affecting their dental health — you’ll get engagement and trust that’ll translate into more patients. Educational content is highly shareable and can position your dental brand as an authority.

+ Make Better Business Decisions

Smile Doctors started in 2015, and in the first few years, the brand had minimal brand recognition. To connect with people who may need its orthodontic services, they used Google Ads, and I’ll tell you why. To help you win and bring your dream to fruition, I will discuss the most interesting dental marketing campaigns I’ve seen and highlight what makes them so effective. An avalanche of both booked and patient walk-ins is the dream of dental practitioners. But let’s be honest — getting these patients requires hard work because the dental industry is fiercely competitive. We leave the ingenuity to you, and you can leave the taxes, accounting and advising to us.

• We leave the ingenuity to you, and you can leave the taxes, accounting and advising to us.
• Our dental bookkeepers and accountants offer the perfect assistance, allowing you to concentrate on what you do best—practice dentistry.
• Let our firm take the wheel and guide you through tax preparation and tax planning for your practice as well, helping you mitigate your tax liability and focus on running your business.
• I'd like to share our Bookkeeping for Dentists monthly checklist with you and walk you through the items on it so you can also achieve the same quality bookkeeping.
• Faced with a low number of new patients, the brand embraced Facebook ads as a solution.
• Your devoted bookkeeper will collaborate closely with you to guarantee that your tax obligations are considered and that you don’t overpay the government.