There comes a time in every business when the owner does some sort of evaluation. A lot of business owners do this at the start of a new fiscal year. This kind of assessment helps business owners see their performance from the previous year, and discover areas needing improvement. Dental practices are not left out. Every dentist should regularly appraise the financial performance of their practice. If your practice’s financial state has been weak or stagnant for some time, then there’s a problem. And when your accountant cannot identify the problem’s cause, it may be time to consider hiring a new accountant.
Accounting is an essential aspect of any dental practice. Having the right dental associate accountant Kansas City can be the secret to the growth of your practice. If you’re wondering when it’s right to change your accountant, here are some to guide you.
You’re Not Getting Proactive Advice
One of the main functions of a dental accountant is giving sound business advice. Several practices have suffered and crashed for getting reactive suggestions from their accountants. Your accountant is supposed to analyze your books, plan ahead, and give your proactive advice to improve its state. Proper analysis and planning regularly will help to make adjustments more comfortable and prevent surprises tax issues.
However, if you’re stuck with a financial manager that only reacts to situations, then it’s time to consider a change.
Your Accountant Is Not an Industry Expert
When it comes to dental practices, hiring just any accountant won’t do it. A dental practice is better off hiring a dental associate account in Kansas City to manage its finances. There are many benefits to working with an accountant that specializes in the dental industry. Some of these benefits include
- A dental associate accountant understands industry laws, regulations, and taxes better. As such, they can create better financial and tax strategies for your practice.
- A dental accountant will be a better judge of your practice’s growth compared to other dental practices. With that knowledge, they can guide you properly on what to do.
Your Accountant Is Not Always Available
The world of business is fast-paced and dynamic. A split-second decision can dictate the state of your business finances in the long run. No one wants to be stuck with an accountant they can’t reach in times of emergency. Dentists are always busy and require an account manager with quick responsiveness to resolve immediate issues sometimes. If your accountant is usually hard to reach, then it’s time to take your business elsewhere.
Your Accountant Doesn’t Use Technology
Digital is the new normal in the world right now. Technology is now found absolutely everywhere, especially in dental offices. Financial managers are not left out, as there are many accounting software to use now. These automation technologies help accountants make faster financial analysis and secure better data privacy. Is your accountant still using pen written ledgers to organize your accounts? Then it’s time to talk to a better dental associate accountant in Kansas City.
When next you appraise the financial state of your dental practice, consider the critical things listed above. And if there’s a need to change your account manager, don’t hesitate to make the best choice for your practice.