IMPLEMENTATION · BOOKKEEPING
Bookkeeping
Clean books are the prerequisite for every serious piece of capital. Our bookkeeping practice exists because we’ve seen too many good operators lose financing approvals over a disorganized QuickBooks file. We set up or remediate the books, close monthly on a clock, and produce the cash-flow reporting lenders actually ask for.
What’s included
- QuickBooks Online setup or cleanup, chart-of-accounts standardized to industry norms.
- Monthly close by the 15th of the following month, with a variance commentary.
- Bank and credit card reconciliation.
- Monthly P&L, balance sheet, and 13-week cash-flow forecast.
- Year-end handoff package for the CPA — so tax prep is a reconciliation, not a reconstruction.
Pricing
Monthly fees are quoted based on transaction volume, number of bank/credit accounts, and complexity of revenue mix. Setup or cleanup work is priced as a one-time project before ongoing monthly service begins.
Frequently Asked Questions
Why do medical practices need specialized bookkeeping?
Medical practice finances involve unique complexities including insurance reimbursement tracking, patient billing reconciliation, multiple revenue streams, provider compensation models, and healthcare-specific tax considerations. A bookkeeper who understands medical practice operations can properly categorize transactions, track accounts receivable aging, and provide financial reports that support informed business decisions.
What bookkeeping services does PMC provide?
Practice Management Consultancy offers comprehensive bookkeeping services including accounts payable and receivable management, bank and credit card reconciliation, payroll processing support, financial statement preparation, expense categorization, and monthly financial reporting. We use industry-standard accounting software and provide regular reports so you always know where your practice stands financially.
Should I outsource bookkeeping or hire in-house?
For most small to mid-size medical practices, outsourcing bookkeeping is more cost-effective than hiring a full-time employee. You get experienced professionals without the overhead of salary, benefits, and training. Outsourced bookkeeping also provides coverage during vacations and sick days, and reduces the risk of fraud that comes with a single person managing all financial records.
How does PMC handle medical practice tax preparation?
While we focus on bookkeeping rather than tax preparation, our clean and accurate financial records make tax season significantly easier for your CPA. We ensure all income and expenses are properly categorized throughout the year, quarterly estimated tax payments are tracked, and year-end reports are ready well before filing deadlines. We coordinate directly with your tax professional as needed.