Certified Public Accountants

Services For Dentists

Our goal is to equip you for success in operating your dental practice. We are here to:

  • Provide you with a solid foundation of proven management and operational tools;
  • Provide training for you and your staff in best management practices;
  • Tailor our services to fit the needs of your practice; and
  • Offer support to assist you in managing your practice according to your own philosophies and values.

We are committed to giving you timely, accurate financial information and the highest quality personalized service. We place a high value on open communication and being accessible to answer your questions. You can be assured that MBT will handle your financial information with strict confidentiality under the high standards of the accounting profession.

Our services include:

Tax Return Preparation & Tax Planning

We will prepare the appropriate year-end personal or corporate income tax returns and also discuss tax planning. Tax planning helps ensure that you anticipate your tax obligations, avoid unpleasant surprises, and take advantage of all opportunities to minimize your overall tax liability. We begin this process with a review of your accounting reports from selected periods throughout the year, and then project your overall tax liabilities for the year based on significant assumptions and/or events such as prior year results, practice trends, a major equipment purchase, or the hiring of an associate. Typically we provide tax planning services one to three times per year.

Accounting Services

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. To this end, we will:

  • Prepare or review monthly bank and credit card reconciliations to ensure all transactions are accounted for;
  • Prepare reconciliation of cash receipts per the general ledger to cash receipts posted to the billing system;
  • Record payroll entries and reconcile to payroll service reports;
  • Adjust general ledger for depreciable assets and depreciation expense, notes payable, amortization and other items as deemed necessary;
  • Make any additional adjusting entries as required to provide a materially correct trial balance, including general review of transactions posted to ensure consistent classification and proper reporting; and
  • Prepare or review state excise tax reports and reconcile gross receipts to QuickBooks® and ensure sales tax (or use tax) is being paid and reported where applicable for purchases made.

Financial Statement Preparation (Compilation Reports)

The purpose of a compilation report is to assist management in presenting financial information in the form of financial statements. We can prepare your compilation report on a monthly, quarterly or annual basis.

Bookkeeping Services

Bookkeeping is an essential task of any business and is the foundation for effective and efficient business accounting. We can help to assure your practice has a good set of accounting records on a day to day basis in order to make required filings efficient and to provide you with records that will help manage your practice. By offering different levels of bookkeeping services, we can provide you with just the right amount of assistance to meet your needs.

Our full bookkeeping services include:

  • Bill paying
  • Reconciling bank and credit card accounts
  • Filing state excise returns and much more

If full bookkeeping service is more than you need, we can tailor our services to match your practice requirements. We can also provide training to better equip you or your staff with the bookkeeping knowledge needed to maintain an efficient business accounting system.

We are also glad to assist in preparing other annual compliance requirement such as Forms 1099, Personal Property Affidavits and Unclaimed Property Reports.

Consulting Services

Dental Practice Transition

If you are considering either buying or selling a practice, buying in to a practice or becoming an associate with ownership potential, we can help you with the decision making process. If you are purchasing a practice, we can prepare or review the practice cash flow projection, assess the practice’s efficiency, evaluate the purchase price, assist with negotiations, help with entity selection and set up, and work with your attorney on contracts, etc.

If you are selling, we can help determine the value of your practice and provide this information to potential purchasers. We are available to guide you through this process.

We can take the lead in the entire purchase or sale transaction, or serve in a support role if a broker or other advisor is playing the lead role.

Accounting System Set up and Training

Properly structured and well-understood financial reporting software provides a foundation for making smart business decisions. Our QuickBooks® setup and training services are designed specifically to meet the needs of dental practices. We customize your company setup to allow you to easily obtain the financial information that is essential for the many key business decisions you will need to make.

Compensation Services and Bonus Programs

We can help determine a compensation incentive program if that would be a fit for your office. We help design compensation allocation formulas to fit the needs of group practices

We also provide our dental clients with a dental practice compensation survey that we compile annually, which is a valuable resource to help you establish competitive wage and benefit packages.

Office Procedures/Internal Controls

Are your internal office systems running efficiently? If not, you may be losing valuable production and/or collections and be vulnerable to misappropriation of funds by office staff. We can help you determine if adequate controls are in place.

Financial Policy Consulting

Consistent, effective, and well-executed financial policies are critical to collections, financial efficiency, and ultimately to building a solid patient base. We can make recommendations that will result in better reporting and management of your accounts receivable, ensure that you are collecting patient fees in a timely manner, and make sure financial policies are not restricting case acceptance.

Practice Planning Meetings

Regular planning discussions with you will deepen our insight into your practice and will help you identify business issues, develop solutions, and seize opportunities. Some of the areas we can help address are financial trends and practice performance, tax planning, and special projects.

Hygiene Department Efficiency

We are available to assist with identifying possible opportunities to improve the financial efficiency of your hygiene department.

Office Culture

The objective is to have an office staff engaged, satisfied and driven to help their employers succeed. But sometimes there are stumbling blocks to this occurring. We can help discover and address issues that may be hindering your office staff from performing at peak levels and towards common goals.

Key Factor Analysis

A Key Factor Analysis is like a check-up for your practice. It will help you understand the key indicators of a healthy practice and establish a benchmark for improving the financial performance of your practice. It sets the stage and format for our ongoing Key Factor Reports.

Key Factor Report

To get the maximum financial return from your practice it is critical to budget, track, and analyze key expenses and performance indicators on a real time basis. Our Key Factor Reports focus on the most important financial indicators – such as overhead, receivable efficiency, production per-hour, discounts, hygiene efficiency, etc. and enable you to regularly evaluate the performance of your practice.

Associate Dentist Planning

Are you feeling that you are ‘booked too far out’ with too many patients? Would you like to cut back on the amount of time you spend at your practice? Perhaps it is time to consider an associate. We understand the issues surrounding this very important decision and can help you determine your best options.

Retirement Plan Evaluation and Set-Up

In order to stay competitive in today’s market and accumulate tax deferred savings for retirement, you will need to establish a retirement plan. We can advise you on the various types of plans available and structure a plan that best meets your individual and business needs; help you determine what benefit level you should provide your staff; and identify the right time to implement your plan.

Education

Dental Seminars

We provide seminars for dentists and dental office managers to educate you and your staff on key management issues and best management practices. Seminars cover topics such as how to prepare key factor reports, internal controls, and special rules and operating percentages unique to each practice. These hands-on seminars are limited to a small number of participants to provide maximum learning opportunities. Contact us for our upcoming scheduled seminars.

Annual Dental Survey

We conduct an annual survey of dentists and distribute the results to all of our dental clients. The survey results will help you evaluate your compensation packages as well as the financial condition of your practice.

Contact Us

11400 98th Ave NE Ste 200
Kirkland, WA 98033
Phone: 425-827-3041
Toll Free: 800-822-3041
Email: support@MartinBircherCPA.com

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