What specialist accountants can offer 
to dental and medical practices

As a dentist, doctor or other medical practice owner, you probably face financial challenges unlike many other businesses. With a long list of complex regulatory requirements and financial obligations, it is important to get qualified support from specialist accountants with specific medical accounting expertise and experience in order to avoid costly mistakes, and for your business to grow and reach its goals.

At ZenFind Accounting, we can help you stay one step ahead. We can help you find more time, earn more money and experience less stress. Here are some services we can offer to those in the dental and medical field, and how advantageous it can be to partner with specialists:

1. Help with a range of finance related services

At ZenFind we have the specific knowledge and skills to be able to deal with unique matters affecting your profession – we understand what specific expenses are tax deductible for doctors and dentists; we stay up to date with tax regulations, ATO rulings and developments affecting medical industry in general; we understand tax and GST treatment of certain government initiative payments payable to medical practitioners.

Some of the things we can take care for you:

  • Income tax returns, BAS and GST reporting and compliance
  • Expert advice on tax liabilities and payments
  • Advice on Goods and Services tax
  • Capital Gains tax calculations
  • Communication with the ATO
  • Preparation of annual financial statements
  • Payroll support and tax
    Business performance advisory
  • Practice Acquisition and Buy Ins
  • Income, tax and cash flow projections and forecasting

2. Forecast business cash flow, income and tax

We will oversee your businesses finances and provide you with insights into your business and its future. By breaking down the cash flow coming in and going out, we can provide you with a financial forecast of your business, helping to determine predicted growth, tax payable, provide recommendations for areas of improvement and create a budget for business development and goals.

Specialist accountants can help you achieve financial stability and assist your business in reaching its goals.

3. Provide advice and specialist knowledge to help your business grow

Our experience gives us a comprehensive understanding of the financial circumstances that medical practitioners face throughout their career. Our understanding of the industry ensures we can provide up-to-date and accurate advice for you. We know what you can claim as a dentist/medical professional and the range of deductions you are entitled to, such as the cost of equipment, licences, training and car expenses.

4. Keep your records under control

Businesses usually come with a lot of paperwork. A specialist accountant can help you keep all that business paperwork under control.

ZenFind Accounting is Xero certified – we provide our clients a secure cloud-based accounting solution. Xero is a simple online solution with all the time-saving tools you need to reduce your back office and grow your business. You can access data anytime, anywhere. When maintained properly Xero can provide live, accurate and timely financial information about your business.

By managing your everyday books, we can provide you with insight into your business, help to make better decisions and ensure you’re following professional practices and guidelines.

5. Free up your time

Pressure of back-to-back appointments often makes it difficult for you to take time out to work on your business. But remember – working on your business is just as important as working in your business.

Specialist accountants can can help you find more time by utilising the efficiency of the cloud, provide more efficient ways to run your business and help you forward plan with ease. Right advice can protect your assets and business, and potentially save you hundreds of thousands in tax.

6. Access to trusted specialist services

With decades in the industry, we’ve compiled a list of trustworthy and highly skilled professionals. We’ll work together to help lift your business to the next level.

At ZenFind, our business is to help your business reach its goals and grow. Start making smarter business, career and financial decisions with accountants that understand the dental and medical industry. Contact us today!

Simplify your business and bring zen back to your life.