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Accountor CPA’s Accounting and Bookkeeping for Doctors and Physicians
The medical industry follows strict guidelines for handling financial documents and reporting. Accountor CPA works for Canadian businesses using practices that align with government requirements.
Official statistics state Canada has just under 100,000 physicians and doctors. This number is growing steadily between 1.2% and 2.8% each year. When looking at the increase in medical professionals and their revenue potential, up-to-date bookkeeping and accurate accounting processes are vital. These measures can save money for hospitals, medical clinics, and public health centers.
The Differences Between Doctors and Physicians
While some may use these professional terms interchangeably, they have significant differences. Physicians have a general healthcare training background. In contrast, doctors can specialize in their unique field. So, all doctors can be physicians, but not all physicians are doctors.
We are the experts your medical office needs in cash accounting and accrual bookkeeping services for doctors and physicians across Canada. Accountor CPA is a reputable firm handling many health center clients.
From small private offices to thriving clinics and organizations, you can trust us. Our bookkeeping for doctors' services includes a certified doctor accounting specialist. This experience allows us to tackle all your financial needs in the medical industry.
|
Method |
Purpose |
Approach |
|
Accrual Bookkeeping |
Tracking billable services when there is a delay with payments, such as insurance reimbursements. |
Revenue is immediately reported when you perform a service. Expenses are instantly recognized when you incur them. |
|
Cash Accounting |
Avoid paying taxes on revenue you haven’t received yet. |
Revenue is only recognized once you receive cash. Expenses are reported the moment you pay for them. |
|
A combination of Accrual and Cash |
Can provide a more accurate view of your current financial situation. It can help in making better business decisions for the future. |
Covers all immediate revenue and expenses while recognizing delayed payments and costs. |
Are you still unsure which doctor accounting approach to use? Talk to our Accountor CPA experts today. We can plan a free discovery and determine how to meet your financial needs best.
Advantages of Using Accountor CPA’s Bookkeeping and Accounting Services for Doctors and Physicians
Are you searching for accountants for NHS doctors in Canada? Recognizing your medical firm's needs can help. Accountor CPA has the best choice for an accountant for medical doctors. Our professionals are here for you no matter where you operate your practice.
Some benefits of choosing Accountor CPA to manage your health center or medical clinic’s financials include:
- We follow all reporting guidelines
- We are proficient in your accounting software
- We handle depreciating accounting
- We offer tax CPA services
- We can help lower financial risks
- We take charge of your billable time and expenses
We Follow All Reporting Guidelines
As a reputable tax accountant for doctors and physicians in Canada, Accountor CPA follows all reporting guidelines. We keep up-to-date on all provincial, territorial, and federal regulations.
The Accountor CPA professionals ensure your books are accurate and follow timely submissions.
With our experts handling your financials, you will never worry about missing deadlines. End inaccuracies and avoid penalties when Accountor CPAs tackle your medical accounting duties.
We are Proficient In Your Accounting Software
Accountor CPA also has extensive knowledge of popular accounting software programs, including:
- Quickbooks for doctors
- Xero for doctors
- Wave
- Sage
- FreshBooks
- And more!
We are capable of using many accounting software platforms in the market for health centers and clinics. This way, we can manage all your financial needs, regardless of your current system. There are no worries about merging files from Quickbooks for the doctor’s office for reports.
We will work with you to find the best solution for your clinic.
We Handle Depreciation Accounting for a Doctor’s Office and Physician Clinics
Our specialists handle the distinct accounting elements that doctors’ offices and health clinics need, including depreciation.
The medical industry requires expensive equipment for extended use. So, proper bookkeeping services for doctors and physicians need depreciation values. You can count on Accountor CPA to include this component for accuracy.
Keeping track of the value of all assets and their depreciation over time is critical. Then, you can acknowledge the depreciation expense that occurs over each reporting period.
We Offer Tax CPA for Doctors’ Offices and Physicians
Tax accounting for doctors' offices and physicians calls for the expertise of our Accountor CPA specialists. We can handle many tax elements for your medical practice, including:
- Minimizing taxes payable
- Tax preparation and filing
- GST/HST/PST/QST remittances
We provide Canada-wide accounting services for doctors and physicians working in private and public health centers to ensure compliance in any location. Our professionals can also tackle your annual business tax filings and any regional taxation on your services.
We Can Help Lower Financial Risks
The Canadian Institute for Health Information states that the total gross payments to health centers and medical clinics in 2021 reached $28.9 billion. Unfortunately, this revenue volume can be susceptible to fraud and embezzlement if your office lacks proper accounting procedures.
Accountor CPA can help lower these financial risks that occur when bookkeeping is left to staff without guidance.
We Take Charge of Your Billable Time and Expenses
Accountor CPA is the expert firm you need to handle your health clinic’s billable time and expenses. We simplify your accounting tasks, saving you time, money, and stress.
Relax knowing that your medical clinic is in good hands with the professional bookkeeping and accounting services from Accountor CPA.
FAQ:
To begin, all you need to do is submit an online request or call us toll-free at 1-800-801-9931. Then, we will discuss your short- and long-term needs and your medical clinic’s financial goals.
Then, we assess your current books and see how they compare to your needs and objectives. Finally, we will develop a customized pricing plan and service package to suit your business plans. This process will take only two or three days, so we can get started and tackle your financials.
Yes, our professionals at Accountor CPA have the training and expertise to work with your existing Quickbooks program at your health center or medical clinic.
We also have extensive knowledge of many other popular cloud-based accounting software platforms. Talk to our helpful staff and see how easy it can be to let us handle all your accounting for a doctor’s office.
Why Choose Accountor CPA as Your Accounting for Doctor’s Office Provider
Accountor CPA is Canada’s premium virtual provider of accounting for doctors’ offices and physicians. Our certified accountants have years of combined medical industry experience. You can trust us to complete any bookkeeping or tax preparation your business requires.
Contact us today for your free consultation. Then, let Accountor CPA tackle all your medical office accounting needs.
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