Bookkeeping for Medical Practices and Health Professionals
We all understand that the focus of any medical practice here in Ottawa is on the well-being of the communities they serve and only partially on the actual business or financial ends. Although, the business tends to run itself the financial accounting of such an operation always needs acute attention to detail. The reason for this is the success of the practice depends on the successful management of the funds it receives in addition to the overall success of the medical practitioner to heal and provide sound advice on all matters of health.
The one important aspect of any Ottawa medical practice therefore is the ability to keep their records in order. This includes not just the patient information, but also the all financial information in addition. In any scenario having an outside accountant or bookkeeper handle the financial aspects of a medical practice has its benefits. First and foremost is the level of expertise that an experienced medical bookkeeper and accountant will bring to the table. Envolta has this experience and offers methods and insight that can improve the financial record keeping operation making it easier to generate the monthly and quarterly financial reports for analysis of the financial state of the practice.
We offer a set of services performed weekly, bi-weekly or monthly per the structure of the practice,
- Payroll preparation
- Post Cheques, deposits, and credit cards
- Write cheques
- Assist in collecting outstanding receivables
- Conduct cash management
Furthermore the following services are all customizable to fit the needs of the our clients that are in the medical field. The services below are performed either monthly or quarterly,
- Reconciliation of Banks accounts
- Income statement preparation
- Balance sheet preparation
- Analysis of customized reports that target expense handling
- Preparation of billing statements and expense reports
- Prepare the general ledger
Envolta, provide all of these services to small to medium size health-related offices in Ottawa.