Bookkeeping for Cash Flow for Dental Practices

What is Cash Flow In essence, cash flow is the difference between the money generated by a business – cash inflow – and the cost to operate the business – cash outflow. As it pertains to a small business loan, for example, banks often take it a step further by incorporating personal obligations as part…

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Bookkeeping 101 for Dental Practices

As a competent dentist, you can fill a cavity with flair and perform root canal with aplomb. But when it comes to immersing yourself in the labyrinth of bookkeeping activities, your confidence level could take a plunge. Afterall, bookkeeping is a specialized field requiring financial acumen and expertise in organizing and preparing financial records so…

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5 Reasons Why you Should Hire an Outside Professional Bookkeeper

Accurate bookkeeping is essential for four main reasons. One, if your books are incorrect, you could have a cash flow problem and not know it. Two, there could be consequences to your tax liability that could either result in trouble with the IRS or an increase in tax liability. Three, up to date and correct records help you make quick decisions when emergencies or opportunities arise. Lastly, having an unbiased, outside set of eyes will enable you to catch any fraud if that should happen. It is ALWAYS best to a different person reconcile the accounts than the person who enters in the transactions.

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Bookkeeping tips for personal property tax tracking

Many counties assess and charge what is known as personal property tax (PPT). PPT is a tax based on a percentage of the assessed value of items and equipment, used in your business, that does not form part of immovable property.  (Vehicles are typically excluded from this type of tax.) These tax filings can be…

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