For Veterinarians: Professional Bookkeeping and Accounting
Rest assured, we’ll get a sense of our starting point and where you’re at with your current processes. We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs. We’ll proactively provide bookkeeping updates catered to your veterinary practice. Expect a comprehensive response from us within one business day or less.
Effortless Financial Integration
When you know that someone who has a thorough understanding of veterinary medicine is taking care of your books so you can relax and focus on practicing veterinary medicine. While we use a veterinary-specific chart of accounts and the accrual method of accounting, it has little to do with how your accountant files your taxes. It’s a service that goes well beyond simple record-keeping tasks.
Why does your veterinary hospital need a professional bookkeeper?
Believe it or not, a good veterinary accounting system is integral to both. We handle all your accounts, including revenue, bank, credit card, and loans. This comprehensive reconciliation service ensures your financial records are always accurate and up-to-date. Our team sets up and automates QuickBooks Online for you, streamlining document collection and maximizing efficiency. This setup minimizes manual tasks, allowing your team to focus on what they do best—providing excellent veterinary care.
Unlock the full potential of your practice
Our in-depth analysis pinpoints areas of financial leakage and untapped potential, maximizing your profitability. We scrutinize your expenses and provide clear breakdowns of your COGS, helping you find smart ways to save money and put it to better use. IVET360 uses detailed expense tracking and categorization of medical supplies to make cost tracking straightforward. This simplification ensures you’re always aware of your financial outlays. Transparency and precision are vital for any successful practice.
An accounting chart of accounts is like a special filing system for money in a business. It uses sections and labeled folders to organize different types of money activities, like sales, expenses, liabilities, and owner’s equity. It helps businesses keep track of their finances and understand how money comes in, goes out, and where it’s being used. The AVMA—along with many other organizations—recommends the AAHA/VMG Chart of Accounts as the standard chart of accounts for veterinary practices.
- Money that a company owes to other people or businesses for things they haven’t paid for yet.
- These services are available as part of your bookkeeping or as standalone services.
- When someone checks a company’s financial records to make sure they are accurate and follow the rules.
- After signing up for VetBooks, we’ll review your existing bookkeeping practices.
- Our platform simplifies the process of managing your financial data by automating inputs from leading providers, eliminating common errors.
- Sign up today and get a free month of bookkeeping, valued at $299.
With iVET360, you’ll experience a smarter, stress-free approach to veterinary bookkeeping. For ten years I worked as a licensed Veterinary Technician in many types of veterinary hospitals including small, mixed and referral clinics as well as Cornell Veterinary College. We began with a mobile truck and a studio office and as time progressed we built a large veterinary hospital. We sold it after almost twenty years and moved to Florida where we could get away from the cold and pursue different interests. I realized there were many other veterinary hospital owners that could benefit from my experience and knowledge. I decided to become a certified business advisor and bookkeeper so I could help others have less stressful, growing and more profitable veterinary hospitals.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable. Get bookkeeping, tax prep, advisory, and filing with Bench’s powerful, easy-to-use platform. Each month, your dedicated bookkeeper arranges your veterinary clinic’s transactions and compiles financial reports. If they require any further information from you, they will promptly make contact.
Trust your bookkeeping, income tax prep, and filing to the experts — driven by one powerful platform. Take the burden of dealing with expenses and bookkeeping off your shoulders. Giersch Group prepares your clinic for tax season and eliminates stress by keeping the books clean and organized. You do sign an agreement with us when we start together but our services are billed monthly and there are no minimum commitments or penalties for canceling. There are easy-to-follow set up instructions and our Onboarding Team and Account Managers will guide you along the way. A list that shows how much money is in different accounts to make sure it all adds up correctly.
Furthermore, with a detailed understanding of tax laws, they can ensure the practice takes full advantage of available tax deductions on equipment purchases. Between managing patient care, coordinating staff, and ensuring the overall health of your business, it’s easy for financial management to become an overwhelming task. This is where having a veterinary-specific bookkeeper can make all the difference. Let’s explore the unique benefits of this specialized service and how iVET360 can help streamline your finances. At iVET360, we understand the unique challenges of running a veterinary practice. Our tailored approach to financial health is designed to meet your specific needs.
From effortless financial integration and total clarity to cost management and smart tax handling, the benefits are clear. Instead, focus on what you do best—caring for animals and growing your practice. VetBooks is a bookkeeping service designed to help veterinarians improve their practice by enabling them to better understand and manage their finances. Better financial management and a more streamlined process is the key to making business decisions confidently. We’d love to use our technical expertise and passion for serving small businesses to deliver the highest value for your veterinary practice. Learn more about our unique approach to bookkeeping, or contact us to start a conversation.
The benefit of working with the Giersch Group is getting that same team approach and level of attention, at a reasonable price. Once VetBooks is up and running you will no longer need your current third-party software to run your bookkeeping. We’ll set you up with all the software you need and support you all the way through. Money that other people or businesses owe to a company for things they haven’t paid for yet. Money that a company owes to other people or businesses for things they haven’t paid for yet. We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.
It applies best-practice accounting standards for classifying revenue, expense, and balance sheet accounts in practice. Years of veterinary school and practice have made you a master at taking care of your non-human patients, but taking care of veterinary bookkeeping is a whole different animal. Failing to keep up with accurate accounting makes tax time a nightmare and can cripple your business growth.
