bookkeeping for therapists

Unlike other firms, we prioritize building personalized relationships with each of our clients so you can get the attention and support you need. We don’t just organize the numbers, we help you understand them and make informed recommendations you can use to grow your business. With a Profit First Certified Master taking care of your finances, you’ll be free to focus on your patients. Knowing and understanding your Private Practice numbers equates to getting more profit. Most Psychotherapists overlook some core key areas to profitability in their practice.

bookkeeping for therapists

We got your back by understanding where you currently are in your business journey while thinking outside the box to provide you with tools that produce confidence and financial stability. Another benefit of working with someone like this is that you won’t have to wait until the moment you file taxes to find out what your tax situation is. Ideally, you will know how much money to pay the IRS on a quarterly basis and you won’t have to worry about surprise bills every year.


Introducing… The only accounting newsletter you’ll be excited to read. Imagine having a go-to team standing by to help with your QuickBooks® and bookkeeping goals every step of the way. Put your wellness practice on the fast-track towards growth. That includes using your debit card for business purchases–upgrade to a business card as soon as possible or at least open a separate business account with its own linked debit card. After you are onboarded, we will setup your bookkeeping in our free software.

That way, the practice owner can know where they stand financially at all times. Especially in small businesses, it’s often easy to accidentally mingle personal and business money. Being a sole proprietor or having a small LLC means you have fewer options for business financing and spending, so you might feel stuck using your personal bank or credit cards. Our monthly services are intentional practice solutions geared towards helping business owners get the most out of their practice, their money, and most importantly their time. According to the IRS, an expense that is ordinary and necessary qualifies as a deduction for your taxes.


It tracks everything and allows your to do invoices, billing and write checks. It also has the ability to produce reports and give you financial analyses. One of the first things my accountant told me when I started my private practice was to open a separate checking account that was specifically for my business. Use this checking account to deposit all the fees you collect and write all the checks for expenses.

We take care of your books for you, so you can get back to the job of running your business and generating profits. The team at Heard was kind enough to offer a free checklist for you with a complete list of everything you need to gather in order to prepare your taxes. Because of this, this option is likely a great fit for many therapists in private practice. The problem with DIYing your accounting is you might not even realize that you’re reporting something incorrectly or missing something important on your taxes. We can take care of all of the below for your private or group practice accounting matters so that your attention can be focused on serving your clients. The tiered pricing includes bookkeeping for up to three bank or credit card accounts.

Your Private Practice Finances, Super-Charged

Physical therapy is our fastest-growing market segment and for a good reason – we understand the needs of our clients. We offer a variety of services to help make sure that you are taking full advantage of Quickbooks’ many features. We transform outdated ways using today’s tools to save you time and money. Contact us now to find out how we can help manage your small business finances. From tax returns, estimates, optimization, and advisory, we’ve got you covered.

Not to mention the cooler in his office is always stocked. I hope Casey does this for a long time because I don’t plan on ever finding a new CPA/Tax Expert. Button & Button CPAs provides competitive services that we have developed specifically for physical therapists running their own small businesses.

In addition to your accounting records, you are going to need a system in place to keep your clinical records. Clinical records typically contain personal health information . So with this you need to be aware of being HIPAA secure and have that information protected.

  • Not to mention, all the time I saved not trying to tackle this myself.
  • They also offer detailed reporting features so you can view expenses over time and identify potential money-saving opportunities.
  • One of the top two reasons a payment is deemed improper?
  • Just as your patients trust you, you should trust a professional when it comes to your taxes.
  • We help ambitious psychotherapists and coaches build sustainable, profitable businesses through our financial wellness solutions so you get the supportive care you need while helping your clients.
  • As your private practice accounting partners, we can take care of everything from QuickBooks setup and assistance at tax time to financial planning for new businesses, practice transitions, and retirement.

You run the risk of claiming a personal expense as a business expense, which could land you in hot water with the IRS. By doing so, you’ll be able to transfer income data to your accounting program to keep your books current. My business grew to the point where I could no longer manage my bookkeeping. I was nervous to turn it over and hesitant to spend the money but Alicia has been amazing and her services are worth every penny! She was able to clean up my bookkeeping and works with my accountant seamlessly.