Doctors, dentists, and other medical practitioners lead a tough life that is centered on helping other people lead happy and healthy lives. Although they do not have much spare time, it is important for all medical practitioners to take a moment from their lives to learn how to use a QuickBooks chart of accounts.
Whether you run a general, dental, or specialty practice, the income accounts for each will essentially look the same in QuickBooks. Health services companies should have an income account for fees collected for services, along with a refunds account and a non-medical income account to catch any extra income that may not directly come from meeting with patients.
Doctors need to keep detailed medical records for their patients, which can prove to be an expensive endeavor. Therefore, be sure to create an account for medical record expenses. Other expenses may be different for different practices, but all health services companies will have the following expenses:
- Insurance (Including Malpractice insurance)
- Reference Materials
- Business Fees and Permits
- Small Medical Equipment
Where Can I Find More QuickBooks Help?
To learn about a chart of accounts for another industry, try our post on industry specific charts of accounts.
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