Is it Time to Consider Outsourcing Your Veterinary Practice’s Accounting?
As the owner of a veterinary practice you have always loved seeing and treating your patients, but there isn’t much love for all of the time you spend doing paperwork and bookkeeping. After all, that isn’t why you went to vet school, and the pandemic has only added to your challenges and the amount of work on your plate.
In the early years of their business, many vet practice owners attempt to handle their own bookkeeping out of practicality and in the hopes to save money. While this may be true in the short-term, the time invested, and the likelihood of errors can end up costing far more in the long-run than it would be to outsource these tasks to an expert.
If you’re feeling stressed, overwhelmed and seeing fewer patients than you’d like to it’s time to consider outsourcing your practice’s accounting tasks to a professional. By doing so you can save money, ensure accurate records, and make more informed decisions about your business. This can translate into spending more time doing what you love - treating and providing excellent service to your patients and less time on the minutia.
Outsourcing can have many advantages for you and your practice such as:
- Cost savings – You won’t need to pay for employee benefits, payroll taxes, hiring and training costs.
- Increasing Profit – You can concentrate on your practice and growing your practice. You will also spend time with customers for better service while also minimizing risk.
- Experience – You get proven, certified bookkeepers that you can rely on and access to experienced CPAs with a wide breadth of industry knowledge.
- Support – You have experts that can help whenever questions arise.
- Flexibility – When you need assistance with a few or all of your accounting tasks.
- Peace of mind – knowing that your books are in order and you cash flow is being expertly managed.
Why is all of this important? A financially healthy vet practice allows for a strong personal financial plan for YOU that includes aggressive saving in preparation for retirement.
At Davis & Hodgdon we offer our expert RAD accounting services to several Vermont Veterinarians. RAD takes the accounting and bookkeeping tasks off of your plate and you end up with better, more streamlined, financial management which can result in improved cash flow management, accurate record-keeping, and more meaningful data reporting. Our RAD services range from basic transactional services to Controller and CFO services.
We are dedicated to helping you with your bookkeeping and accounting tasks so you can focus on the things that really matter.
RAD can assist with your account reconciliations, bill payments, payroll journal entries, prepare financial reports, assist with time-saving tools, and find remote working solutions. So, if you are feeling overwhelmed with these tasks or are simply tired of doing your own bookkeeping, it’s likely time to bring in a professional.
DH CPAs has been assisting Veterinary practice owners throughout Vermont for more than 30 years so contact us today if you are ready for an expert from our team to help you and your practice thrive so you can focus on what really matters!