Not every dental practice employs the most qualified dental accountant. And if you choose the wrong accountant, not only will they mess up your accounts, but they will also lead your company to lose money!
But how do you tell if you’re working with the wrong Dental CPA? What are the red signs you look for in an accountant that makes you want to run the other way?
5 Qualities to Look for in a Dental Accountant
Consider the following five attributes in your Cpa For Dentists as you investigate your options:
A reputable dental accountant is dependable.
When it comes to selecting someone for your practice, it goes without saying that trust is crucial. And when you entrust that individual with your money, you expect a whole other degree of honesty. Your bookkeeping for dentists will be in charge of a lot of sensitive data that must be kept private, not just for the sake of your practice but also because you have a legal obligation to your patients to keep all of their records, including account balances, private.
A good reputation may go a long way. Do your homework before signing a contract. Include a real-life scenario in your interview, along with questions like “What would you do?” Better yet, seek more testimony from the Sigma Accountants’ professional references.
Well-informed
A skilled dental accountant will know the fundamentals of general dental bookkeeping and accounting and the unique bookkeeping and accounting techniques used in the dentistry business. In addition, they’ll know which ones are the most useful for dentists.
One of the essential ways we help dental practices achieve their business goals is by balancing bank accounts utilizing the most up-to-date dental practice accounting software. Unfortunately, many dental practices let months pass without verifying their bank account statement to their account software data, even though it appears to be a straightforward task.
We assist dentists in making better financial decisions by assisting them in staying on top of these financial facts like tax planning for dentists. As a result, their business expands, and their entire revenue rises. Your accountant should always be aware of any modifications to generally accepted accounting principles (GAAP) or intricacies in tax law, in addition to being educated with dentistry financial management.
Technology has altered the way organizations (including yours!) operate. Professional dental bookkeeping will embrace these changes by attending conferences and seminars to learn about the latest dental practice accounting trends. As a result, they’ll be able to manage your finances better and give you excellent advice for your growing business strategy if they stay up to date.
Well-ordered
Accurate reporting is linked to a company’s profitability, and the foundation for this is an effective organization. For evaluating data, preparing reports, maintaining files, and filing paperwork, your dental accountants should have a well-oiled system. Their labor becomes more efficient as a result of the structure. Then they can devote more time to researching and analyzing effective financial strategies.
As Dental Cfo, we preserve digital records of our dentists’ financials like tax planning for dentists to assist them in achieving their business goals more efficiently. This helps them (and us!) to focus on what they care about rather than getting bogged down in paperwork.
Your dental accountant must be meticulous.
Because they will be dealing largely with the numbers you use to make significant financial decisions. Your bookkeeping for dentists must be detail-oriented. A single missing comma, period, or mistaking a 0 for an 8 might sway a decision and cause considerable harm.
Make sure you talk to your dental accountants about his or hers review policy. Inquire about the safety nets in place to catch numerical errors. For example, when a dentist gets to know their patients well enough. They can tell if a chipped tooth was caused by a fall, a hard piece of candy, or a hockey brawl.
As Dental Cfo, we study how a dental business runs over time and spot patterns in its financials. For example, when we review their monthly statements. We search for anything out of the ordinary to figure out why the statistics appear. The way they do and to assist dentists in making better financial decisions based on that information.
Knowing the dentists and how their practices work assists Sigma Accountants to avoid problems. Catch them early if they do happen.
Customer-focused
The difference between a “good” dental accountant and a “great” Dental CPA is their attitude toward customer care.
It’s not enough to be good at math, know a lot of stuff, and be well-organized. Your Cpa For Dentists should not only treat you with respect during your interactions. But they should also be willing to go above and beyond to assist you in implementing a financial strategy.
