Industries
Healthcare and aesthetics practices
Practices collect money before the treatment, through three payment systems, across two or three entities. That is where the books drift.
Get my quote Call +1 (302) 601-0115 Book a free 30-minute call
- 447 Broadway, New York
- team of Certified Accountants, CPAs and Enrolled Agents
- Flat fees quoted upfront
- Replies within 8 hours
Get a fixed quote
Tell us the basics. We reply within 8 hours, no obligation.
What is different about practice books
- Prepaid packages, memberships and gift cards are liabilities until the service is delivered; recognising them on sale overstates revenue and understates what the practice owes its patients.
- Merchant processors, patient financing (CareCredit-style) and insurance remittances each settle net of fees on different cycles.
- MSO and PC structures: the management company and the professional entity have to invoice each other on documented terms, and intercompany balances must net to zero.
- Provider compensation on collections or production needs a reconciliation that both sides trust.
- Sales tax on retail products and, in some states, on certain services.
What we set up
Revenue by service line reconciled from the practice management system to the bank, deferred revenue for packages and gift cards, a fixed asset register for equipment, intercompany schedules for MSO arrangements, and a monthly pack showing revenue per provider, per room and per location. Payroll and contractor filings across states for multi-site groups.
Tax for practices
1120-S, 1065 or 1120 per entity with the intercompany fees consistent across returns, reasonable salary documentation for owner-providers, equipment depreciation choices made deliberately, and state filings per location. Where practices have been through an acquisition or added a location mid-year, we rebuild the books so the first combined return is defensible.
Questions people ask
We have an MSO and two PCs. Can you keep all three consistent?
Yes. One team, one chart of accounts across entities, intercompany invoices booked on both sides monthly, and returns prepared together.
Our previous accountant booked gift cards as revenue. Is that a problem?
It overstates income and understates liabilities. We restate it, which usually reduces tax already paid on money the practice still owes in services.
Do you work with practice management software?
We reconcile from its reports; every major system exports the collections and production data we need.
Ready for a fixed quote?
Two sentences from you. A written price within 8 hours. No obligation, no long-term contract.
Get my quote Call +1 (302) 601-0115 Book a free 30-minute call WhatsApp