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Best Accounting & Payroll Methods for Mental Health Practices

Jul 9, 2021 1:42:54 PM / by CSI Accounting Staff posted in small business payroll, small business accounting, healthcare services

When you own a mental health practice, your main goal is to help your patients have a brighter future. After focusing on treating the different things that cause them discomfort or distress, you don't want to slow down enough to put in the extra hours that accounting and payroll require. Have you ever considered outsourcing them to save you time and help you avoid costly mistakes?

Blog - Best Accounting & Payroll Methods for Mental Health Practices

Outsourcing Accounting With CSI

Bookkeeping: the Bare Minimum

Your mental health practice is required to keep detailed financial records, so you might opt for basic bookkeeping. Did you know that there's another option? At CSI, we're proud of our work to provide small business owners with monthly accounting. Bookkeeping is the process of data entry for mandatory records, whereas monthly accounting provides monthly financial statements.

Monthly Accounting Benefits

Monthly statements help you understand how your mental health practice is performing in real time. These also help build a solid foundation for evaluating your business' health and guiding business decisions. Don't make blind decisions leading up to tax season each year!

Download the Small Business Accounting Kit

Easier Annual Taxes

Your tax season will go off without a hitch if you're up-to-date with your accounting. Instead of an annual tax accountant performing 12 months of work all at once for both businesses and individuals, your information is ready to go with CSI. We only serve the needs of small business owners, and we include tax preparation and filing to knock it out of the park!

Meeting with your annual accountant once a year just doesn't cut it; we are proactive with our clients and have periodic mandatory meetings to make sure both parties are on the same page. Our clients should know what their taxes will look like many months ahead of time.

Experience: Mental Health Industry

An experienced accounting service will have a background of working with (and being able to offer professional advice on) profitability, operating budgets, mergers, acquisitions, and more. Not to mention, they should be extremely familiar with your industry outside of those topics.

See our accounting services here.

Outsourcing Payroll With CSI

Payroll Management Options

We offer a variety of payroll management options for you. Choose from these various options for both you and your employees:

  • Pay calendars
  • Check delivery options
  • Custom reports

Want more features? We also offer:

  • Easy time clock solutions
  • “Pay as you go” worker’s compensation insurance
  • Retirement plans
  • Pay card solutionsNew Call-to-action

Stay in Control: Accessible Reports

We want to take the pressure off of you, but we don't want you to feel like you're losing control! Our secure online portal provides convenient access to up-to-date financial data. Get payroll and tax reports for you, and get pay stubs and W-2s for your employees.

Don't forget about payroll compliance!

Here's one of the most important parts of what we offer: guaranteed payroll tax compliance. We'll handle the details, including:

  • New hire reporting
  • Quarterly and year-end local, state, and federal tax filings
  • & more!

See our payroll services here.

Ready to learn more?

CSI Accounting & Payroll is truly the small business owner's one stop shop. Our clients love us for our customer service and our ongoing efforts to inform them of current events that may affect their businesses. Ready to have a conversation about how our services might be right for your mental health practice? Click the button below for a free consultation.

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CSI Accounting Staff

Written by CSI Accounting Staff

Client Development Manager

Comments

WE MAKE YOUR ACCOUNTING AND PAYROLL EASY, 
SO YOU CAN FOCUS ON GROWING YOUR BUSINESS

MEET WITH AN ADVISOR