In this episode I highlight the pros and cons of DIY versus outsourced bookkeeping for chiropractors. Whether you're a hands-on entrepreneur looking to save costs or considering outsourcing to free up your time, this episode covers the factors you need to consider before making your decision. Learn about the benefits, challenges, and hybrid approaches that can help you maintain accurate and timely financial records, no matter the stage of your business.
What You'll Learn:
- Why accurate bookkeeping is essential for chiropractors.
- The pros and cons of DIY bookkeeping, including cost savings and control.
- How outsourcing bookkeeping can save you time and ensure compliance.
- Key questions to ask yourself when deciding the best route for your practice.
- Hybrid approaches to bookkeeping that balance involvement and professional oversight.
Resources Mentioned:
- Free Chiropractic Sample Profit & Loss
- Episode 11: Understand Your Profit & Loss Like a Boss
- Episode 12: Understand the Meat of Your Balance Sheet
- Episode 10: Get in the Flow with the Right Pros
Helpful Resource: Free Estimated Tax Guide
Email me with any questions you’d like answered in future Q&A episodes!
Recommended payroll software (affiliate links):
ADP
GUSTO
Recommended bank and the one I use in my business (affiliate link):
RELAY BANK
QuickBooks Online is my go-to accounting software. Get an amazing discount (30% off for 6 months) when you buy with my affiliate link below.
SIGN UP FOR QUICKBOOKS ONLINE
My favorite budgeting app w/ an amazing free version:
EVERY DOLLAR BUDGETING APP
My preferred business credit card with cash rewards (affiliate link):
If you have healthy behaviors around spending with a credit card, this is a great one to use and earn cash back. It also links up well with QuickBooks Online. If you have unhealthy spending habits with credit cards, please avoid using one! You need to be able to pay it off monthly and not carry a balance. I use this one for my business and it makes paying bills simple.
CAPITAL ONE BUSINESS CREDIT CARD
Check out all my FREE financial resources in one place
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Disclaimer: This content is for educational and informational purposes only. Please consult with an accounting professional for direct advice based on your specific business situation.
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