Chances are anytime there’s the word “issue” you want to avoid it, the case of cash flow issues is no different. To avoid cash flow issues it’s important you know two things: Your cash flow cycle. You need to know how long it takes to get money into your bank account after treatment is […]
Streamlining your business payments can both save you time and improve your cash flow predictability. Being able to predict your cash flow helps to improve your cash flow in general, which is also a recommended method of building your dental practice’s basic financial plan. There are a number of options you can use to streamline […]
What happens if one day you can’t come into work. On the grand scheme of things, one day does not seem like a long time but it adds up. Just because you are not able to be there doesn’t mean there aren’t bills to pay, a clinic to run and staff who rely on their […]
How documenting processes can help you scale up Over the years the idea of documenting processes has often been ignored or considered a lost cause. The documents are often not updated and the traditional format (binder or word document) is not really something your staff want to flip through to review processes. As a […]
Planning your daily deposit reconciliation Every day happy clients leave your office smiling. Before they step out your door, they swipe their debit or credit card, hand you a wad of cash or work out their insurance details for payment. All those payments in their various forms make their way into your patient management system [...]
Each month you are likely sent an income statement. An income statement shows you your practice’s revenues, costs and expenses over a predetermined period, so in the case of your monthly income statement it’ll show those over a period of one month. The information presented in an income statement is important because it helps […]
Bookkeeping is one of the many tasks dental clinic owners need to budget for, but that is often easier said than done. When considering bookkeeping services for your clinic the question of how much to pay is important. The truth is, there is no simple answer. Bookkeepers, like many professions, have varied skill sets and […]
Tackle your A/R with proactive planning Accounts receivable (A/R) can be a slippery slope for a dental office, on one hand, you want the value-add to your clients of an assignment office but on the other hand, you don’t want to have thousands of dollars in an A/R balance. A/R balances can occur for […]
As a dentist and business owner, your time is limited. Knowing how to read your profit and loss statement can be confusing. We’ve created a 2-minute video that will give you tips on what to look for to better understand your clinic’s performance.
If you’re looking for ways to increase efficiency consider simplifying your payments process (accounts payable, accounts receivable, tax remittances etc). Check out this blog post to learn how Plooto helped some of our clients eliminate manual payment processes and significantly reduce their costs! Click Here To Read the Blog Post!