PACKAGES
Solo
Full Service
CFO
Quarterly
Monthly
Additional Fee
Additional Fee
Monthly Accounting & Bookkeeping
Bank & Credit Card Reconciliations
We’ll review the transactions coming into QuickBooks from the bank feed and process. We work with so many practices we will recognize 90% of transactions. Sometimes we’ll wait until the end of the month to view check images on the bank statement. If there’s anything we’re not sure about it will go into “Uncategorized Expenses” - you’ll get that report at the end of the month.
Monthly Financial Reports
We’ll determine the exact reports you’ll get based on your needs and your business. Our report packages will usually include a Profit & Loss, Profit & Loss Detail, Uncategorized Income/Expenses, & Balance Sheet.
Primary Accounting Specialist
Building relationships with our clients is one of the reasons our team loves working at GreenOak Accounting. You'll have a dedicated accounting specialist so you know who to reach out to with questions.
Phone & Email Support
Have a question? Just send us an email or give us a call! If your dedicated accounting specialist isn’t available they’ll give you a call back as soon as possible, typically within one business day. There isn’t a limit to how often you can reach out to us.
Ongoing Financial Review & Strategy Meeting
We’ll schedule a meeting to review the “big picture” with you. We want to hear about your goals (financial, personal and for the practice - we want to hear it all!) so we can help measure what matters. We’ll discuss any trends we are seeing in your numbers, how the business is doing versus last quarter/year, cash flow, debt, payroll, tax implications and review any open items we need to discuss.
Practice Performance Tracker
We’ve developed Success Ratios for private practices (group and solo) based on years of studying the habits of highly successful practice owners. We’ll measure your business against our Success Ratios so you can see which areas are doing well and which need improvement. We evaluate and track areas of profitability, expense trends, capacity, and break-even projections.
Payroll & Compensation Support
You run payroll, we’ll provide our expertise. We’ll help onboard new employees/contractors, answer payroll questions, setup the sync between your payroll system and QuickBooks Online (if applicable) and assist with any payroll notices you receive. We can assist with structuring compensation for new clinicians, review what positions you can afford to hire next, discuss benefit options & costs, or help calculate how much you can afford to pay yourself.
*On occasion, there may be additional fees for notices that require a significant time investment
Dedicated Senior Accountant
Building relationships with our clients is one of the reasons our team loves working at GreenOak Accounting. You'll have a dedicated Account Manager so you know who to reach out to with questions. You'll also work with a Senior Accountant for some of the more advanced reports and forecasting we do as well as any tax questions that might come up.
18 Month Forecasting (updated quarterly)
When the practice is growing, it's good to know what to expect when you are planning changes like adding more space, clinicians, admin, changing hours, etc. We'll help you forecast these changes to see if they make financial sense for your business.
Budgeting (updated quarterly)
Planning ahead can give you peace of mind and guidance. A little accountability also goes a long way! We'll prepare a business budget, update it quarterly and review your progress at your monthly meeting.
Financial Dashboard & KPI Tracking
We couldn’t find a dashboard that would show everything a private practice owner needs to know, so we built our own. We customize the Dashboard for each client, but here are some items that most clients will see: Gross/Net Income for the last 12 months, Cash on Hand, Average Fee/Session, Average Profit/Session, Cash Reserve.
Annual Tax Planning Review
Annual Tax Planning Meeting (with our Tax Team)
W9 Requests & 1099 Preparation
It's a fact of life, 1099s are due by 1/31 each year. As a business owner, you are required to issue a 1099 to any service vendor, landlord, or law firm that you have paid over $600 during the year. When we handle 1099s for you, we identify vendors throughout the year that require a W9. You provide an email address or contact information and we track and collect the 1099. At the end of the year, we'll calculate and prepare the 1099s while you sit back and relax!
Package add-ons
Every business is unique. That’s why we customize your pricing to your needs on an a la carte basis.
Quickbooks online subscription & setup
Payroll setup
Business & individual tax return
Profit FIRST
implementatioN
profit first
ONGOING support
steps for working with us
Consultation
We'll assess your needs, review your accounting practices & systems, and then identify the challenges & opportunities.
1
kICK-OFF MEETING
We'll establish a clear timeline and milestones for getting your accounting up to date. You'll know when your input is needed and when you can expect to hear from us.
2
cHECK-IN
Now that your accounting is up to date, we'll present your profitability analysis and forecast (if applicable). We'll review the maintenance process so everyone is on the same page.
3
MAINTENANCE
Your books are up to date and you have a clear vision for your financial future. We'll be available year-round to answer your questions and support your business.