So, you reviewed your options and have decided that it’s time to consider outsourcing, starting with dental bookkeeping.
Ever since you started your dental practice, you’ve balanced patient care in one hand and office administration in the other with great finesse. However, as your business continues to grow, you’re finding that you’re doing a lot more juggling and a lot less balancing. You realize you need to make some changes before something important is dropped. You’ve delegated a few extra tasks to your office manager, which has helped lighten your load, but not enough.
But now comes the tricky part: choosing the right dental bookkeeping company for your practice.
Choosing a good dental bookkeeping company is one of the most important business decisions you can make. So, we’ve composed a list of the top three things you should consider when shopping for the right bookkeeper:
When you outsource your dental practice’s bookkeeping and accounting, you are essentially allowing a stranger to access your financial records. With that in mind, choose your bookkeeper very wisely.
While the relationship between a dentist and his bookkeeper is rooted in trust, don’t hesitate to request a background check, search their name on Google, and ask for (and talk to!) their references. You want to make sure your bookkeeper is an expert. Be sure to review their qualifications. This includes asking if they’ve completed all training and certifications in the accounting software they’re using.
Our staff at Two Roads has a cumulative total of over 200 years in dental bookkeeping and accounting experience. Most of our bookkeepers have accounting degrees and are Quickbooks certified and we have a Certified Public Accountant on staff. We also screen our employees thoroughly before hiring so you can be sure your finances are in good hands.
Bookkeeping and accounting companies differ in the services they provide and in the way they bill their clients.
Some charge by the hour, some offer a fixed rate, some provide monthly packages, and some recommend an annual contract. A reputable company will be transparent with how they do business and should be able to provide you with a reasonable estimate of how long it will take to complete the work and the fee associated with it. Ask questions if anything seems unclear.
At Two Roads, we will handle your accounts payable and receivable, organize and maintain your dental practice’s payroll, reconcile your bank and credit card statements, and prepare financial reports. (Read more about the dental bookkeeping services we provide here) We also offer fixed-rate pricing, so there are no hidden fees.
(Before you go, be sure to visit this post next: A Dentist's Guide to Hiring a CPA)
A good bookkeeping and accounting company will be familiar with a variety of accounting software options and can recommend a program that best fits your dental practice’s needs.
We pride ourselves on giving our partners the best results with the best technology available, so at Two Roads, we use QuickBooks, the number one software in the U.S. for business financial management.
Have you considered cloud bookkeeping for your dental practice? Take a look at this post next to learn more about the benefits: 5 Perks of Cloud Bookkeeping for Your Dental Practice.
Two Roads provides bookkeeping and accounting services to dentists. Why? Because we believe in what you do and want to help you do it better. By outsourcing your bookkeeping and accounting responsibilities, you will have more time to finely tune your well-oiled machine and build relationships. And all of these things will strengthen and grow your practice.
For more information on how our unique approach to dental bookkeeping and accounting can save you time and make you money, contact us at 865-212-0063.
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This post was first published in 2015 but it was updated in 2021 just for you.