By Carolyn Hall, CPA, MBA
Business owners with an entrepreneurial spirit welcome growth without necessarily focusing on the bottom line. MSO and DSO professionals who own and operate medical and dental service organizations that are experiencing patient gains and revenue growth can often lose sight of the details that go into back-end processes.
Your accounting system can be your first and most visible sign of trouble. When billing is slow or error-filled, processes are broken, locations...
When things go wrong in your accounting department, you’re sure to feel the pain — especially if errors are common. Problems and irregularities can crop up for several reasons. For instance, your accounting staff might be inadequately trained, or they’re just not suited for the job.
But the cause could also be much worse: someone is stealing from your company.
Let’s take a closer look at both scenarios.
Everything from inadequate training to incompetence could...
By Wiss Associate
In last month’s post, we discussed what your company’s chart of accounts should entail and its prominence to the accounting and financial side of your organization. Now let’s see why and when you should reorganize the information that will make up your chart of accounts.
Why to Take Action
Your spotless and well-organized accounts will help your company prepare your books for the following activities:
Working with your outside accounting advisors for quick and...