For a dental practice owner, a lawsuit can have a devastating impact, both on company moral and on company finances. The longer you stay in business, the higher the probability that your company will be sued at some point in time. There is no surefire way to prevent every lawsuit; however, there are some common […]
Bookkeeping
How to Enter CEREC Purchase Into QuickBooks
We were recently approached by a dentist who bought a used CEREC and put it on a newly opened rewards credit card at 0% for 12 months. They were planning on paying $2,000 -3,000 per month and do a balloon payment at the end, but weren’t sure how to enter it into QuickBooks. He admitted […]
Warning Signs That Your Employees Are Stealing From You
In dental practices, like in any business, fraud can go on undetected for a long time if the warning signs are ignored. Some of the common warning signs of fraud are: A sudden unexplained shortage in the cash account. It can lead to checks being returns, late tax payments, and supplier complaints of lack of […]
Dentist Opening New Practice Needs Bookkeeping Advice
A dentist who was about to open their first dental office approached Only for Dentists for advice. Their original plan was to do all of their monthly accounting and then hire a CPA for the annual returns. They were getting close to their opening date and their anxiety was growing, wondering if it was really […]