Bookkeeping

Why Should I Use a Bookkeeper for My Private Practice?

July 30, 2021
Heard
Editorial Team

Back-to-back sessions from 8 AM to 6 PM? A cake walk. Reconciling those financials? Not so much.

Doing your books and making estimated quarterly tax payments may feel more like a chore and less like a financial reward or an opportunity to grow your business. We hear you.

For therapists, hiring a bookkeeper can often seem tedious, expensive, or time-consuming. However, the role can actually alleviate you both financially and mentally while you manage your caseload.

The benefits of working with a bookkeeper for your private practice

Working one-on-one with a bookkeeper allows you to:

  • Have a dedicated person to manage your books through a private and trusted process. 
  • Receive reports regarding your spending and cash flow.
  • Eliminate stress around payroll and expenses.
  • Identify opportunities for financial growth. 
  • Avoid year-end tax bills over unlisted or missed expenses.

‍There’s no doubt that time spent outside of sessions hunkering down over your books can be taxing—pun intended. The potential pitfalls can also seem especially daunting, with bills that add up if you make a mistake in your tax filings or have to resort to overpriced services that upcharge for private practices.

Having someone who knows the financial aspects of your business like the back of their hand is essential to a smoothly run practice. This reduces your stress over how to manage your books correctly, while also saving your own time and energy and allowing you to prioritize and focus on your clients.

An investment in the financial aspects of your business can clear up your schedule and increase the quality of your services all at once. If you’re a therapist, personalized service is likely of great importance to you. Your practice deserves to have the same attention on its finances as it gives its clients. 

At Heard, we’re putting financial health hand-in-hand with mental health for your business.

Heard is a bookkeeping and tax platform for therapists, intended to ease the financial burdens of mental health therapy services and track the financial health of your practice. Schedule your free, 15-minute consultation.

This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post.

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