Category: Dental CPA

Baton Rouge LA CPA | Safeguard Your Business with a Specialized CPA

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When it comes to managing the financials of your business, you need an accounting professional that employs a high degree of attention to detail. That’s why hiring a certified public accountant (CPA) should be one of the first moves you make.

A CPA’s reach extends further than just balancing your financial statements at the end of each quarter. Instead, think of a CPA as more of an advisor. Their role is to guide you through the various pitfalls and obstacles that can encumber business owners. Overseeing point of sale transactions (POS), billing, cash flow, and accounts receivables/payables are just some of the routine tasks covered by a CPA. However, unlike a general accountant, a specialized CPA can advise you on industry-specific best practices.

Sound Financial Advice for Business Owners

Many business owners typically find it difficult to relinquish control over their office finances. However, a specialized CPA can provide additional insight that strengthens the overall financial health of your business, such as whether your staffing matches your production levels. They can guide you on timing when it comes to investing in new equipment and give you tips on what to do now to minimize tax payments later. Are you thinking of expanding your building or bringing in another investor? CPAs provide the extra set of eyes and financial advice you need when making important business decisions where your emotions might cloud your judgment.

Fraud Prevention

Unfortunately, fraud is also a common occurrence in business. Its source can originate both internally and externally. Losses from employee theft or insurance claim irregularities can quickly accumulate into thousands of dollars. If not caught in time, fraud can irreparably damage the business you’ve worked so hard to grow. An experienced, specialized CPA is well-aware of the common origins, red flags, and methods associated with such industry-specific fraud cases. Their keen understanding of how to implement fraud-deterrent policies and procedures will help protect your livelihood. Even when no fraud is suspected, it’s a good idea to conduct a risk assessment to gauge the likelihood that it could occur in the future.

A Smart Investment for Your Business

Running a profitable business goes far beyond crunching numbers on a spreadsheet. A specialized CPA will be able to listen to and communicate clearly with you and your staff when it comes to goals and best practices. Their intricate understanding of the variables that sway your business’s production comes into play on a daily basis.

Partnering with a CPA can undoubtedly guide you towards a successful and profitable future in your field. Contact Apple Guerin Company LLC today for a consultation.

 

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge , LA 70808

Baton Rouge LA CPA | How to Avoid Becoming a Victim of Employee Embezzlement

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Let’s face it: As a business  owner, you have many responsibilities. Juggling the demands of clients, overseeing staff, and monitoring financial transactions can be overwhelming. That’s why putting safeguards and internal controls in place is so important, to help you avoid the risk of theft from employees. While it may be hard to imagine that the smiling face you hired to greet visitors could be stealing from you, that kind of naivety has cost business owners thousands of dollars in annual revenue. It can be difficult to prevent employee theft, but educating yourself now and putting processes in place to better secure your financial picture can help minimize the possibility of it happening to you. Here are some tips to get you started.

Know Who You’re Hiring
It’s not enough to select a new employee based on their resume or personality. Your new hire will likely be handling confidential information, so anyone whom you consider bringing on board should undergo a professional background check. You should also request references, including contact information from their previous employer. 

Learn as Much as (and More Than) Your Employees
Over time, employees may see which clients pay with cash, who writes checks, the average daily and weekly deposit amounts, and how much money comes in from outside sources. This is information you should be familiar with as well. Require that each employee log these details in your accounting software and ask your accountant to help you create a program that includes a check and balance system with daily opening and closing reports. That way, either you or your accountant can run and analyze these reports—never an employee.

Delegate Shared Responsibilities
No individual in your office should control any financial process from start to finish, so make sure you establish and implement a team approach to these tasks. This will let you know who recorded which transactions and create a higher degree of accountability among your staff.

Look for Common Red Flags

You should always keep an eye out for common indicators that an employee might be stealing from the practice. Pay attention if someone on your team is suddenly spending beyond their means, is always the first in the building and last to leave, or is overly protective or secretive of their work. 

Schedule an Outside Audit 

Serious financial damage can add up quickly if you’re the victim of embezzlement, so it’s important to periodically hire an outside accountant to review your finances and look for irregularities. He or she will be able to monitor your employees’ work and catch errors, mistakes and theft.

If you notice that the numbers in your business aren’t adding up, it’s best not to tell anyone on your staff since the suspect could find out and destroy incriminating evidence.  Instead, talk to a trusted CPA first so they can put a fool-proof process in place to catch your thief and get your money back in your business where it belongs. If you have any questions or would like to schedule an appointment to learn more, contact Apple Guerin Company LLC today.

 

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge , LA 70808

Baton Rouge LA CPA | Does Your Business Really Need an Accountant?

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In many ways, we rely on the internet to solve our problems and answer all of the questions we ever have, instantly. The internet is such a useful tool, that more entrepreneurs and small business owners are beginning to turn to it for their accounting needs, making it seem as if an accountant really isn’t all that necessary.

But while the internet can be an extremely useful place, don’t be fooled. The internet can’t solve everything and your business really does still need an accountant.

Our accounting team doesn’t just crunch the numbers. We have years of experience and education that allows us to explain your financial statements. In turn, we help you understand those statements in order to truly grasp the ins and outs of your business. These insights can include useful information on cash flow and any recognizable patterns, how your inventory is being managed, whether the pricing of your services is reasonable, and even your business financing. 

From those insights, we can help you analyze which areas are ready for growth, what changes need to be made and how you can create a plan for continued success. In short, an accountant gives you the resources and guidance you need to make better, more informed decisions for the future of your business. The internet might be able to help you in some ways, but it can’t provide the level of depth and personalized understanding of individual situations that we can.

Accountants are also great for all the roles they are usually associated with. We can provide expert advice and oversight on aspects of your business finances, such as payroll and estimated tax payments.

We work efficiently, avoiding costly errors that someone with less experience could make and we make sure that everything is completed fully and on time to help protect you from audits.

Hopefully, we’ve convinced you of the benefits an accountant can have for your business. If so, get in touch with Apple Guerin Company LLC and have a conversation about how we can best serve you and your financial goals.

 

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge , LA 70808

Baton Rouge LA Accountant | Bookkeeping Basics to Help Your Small Business Thrive

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As a small business owner, you likely wear a lot of hats. When it comes to managing your finances, you’ve likely realized that there are many tasks that demand more time and attention than you have to offer. While there are reliable software packages designed to streamline do-it-yourself small business accounting, there are also numerous benefits associated with hiring an accountant trained in your field. For example, a skilled accountant:

Understands your industry. Specialized accounting professionals will stay abreast of trends that impact your profitability and bottom line. That means they can offer you business-specific tax advice to make sure you maximize your annual tax savings. They are also knowledgeable about new tax laws so you stay compliant in your ever-evolving field.

Can offer advice on equipment purchases. Investing in the latest technology and equipment may be an important part of keeping your business on the leading edge. A specialized accountant can advise you on the financial benefits and liabilities associated with these types of investments, so you can make informed choices that save you money in the long run.

Is trained to help you see the big picture. Industry-specific accounting professionals can provide useful comparisons that benchmark your business against other similar ones. This kind of insight can help you make informed choices when it comes to hiring, adding products and services, or expansion decisions that require a financial investment.

Can assist with retirement planning. If you are self-employed (and many entrepreneurs are), responsibility for retirement planning is solely up to you. A good CPA can advise you on the right types of plans for your situation and help you strategize on your long-term financial goals.

Is connected with other industry professionals. Perhaps you want to purchase a larger facility or add a partner to your business. A specialized accounting firm can connect you with banking professionals or loan officers who understand the nuances of your field, and also advise on business structure best practices when it comes to creating a partnership agreement.

Accounting for a small business encompasses so much more than simply preparing an annual tax return. A skilled small-business accountant can offer sound business advice, help analyze the financial health of your business, provide long-range financial planning, and guide you toward business decisions that keep you in the black. To learn more about how our small-business accounting services can help your business thrive, contact Apple Guerin Company LLC today for more information.

 

Apple Guerin Company LLC
Phone: (255) 767-1020
6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge , LA 70808

CPA Near Me | 4 Simple Ways to Reduce No-Shows

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Whether your patient is scheduled for a cosmetic consultation, restoration placement, or routine hygiene and screening visit, you want to be certain they will come. When your patient cancels with little or no notice, they delay important treatment and wreak havoc with your schedule. Even one missed appointment per day can lead to thousands in lost revenue in a single year.

Reports indicate that about one in ten patients cancels or skips scheduled dental visits. Consider these 4 easily implemented strategies for reducing your practice no-show rate:

  1. During a patient’s visit, clearly communicate the state of their oral health. Explain what treatment they need, why they need it, and when it needs to happen. Emphasize the benefits of receiving the treatment in a timely manner. Patients who understand the value of their treatment are more likely to remember and return as scheduled.
  • Ask your patient to choose how their appointments are confirmed. Offer to use text, email, mail, or phone calls, if possible, so they are more likely to receive their reminder. Consider offering your patient the ability to authorize you to contact a spouse, parent, or partner who most often handles scheduling or reminding them of commitments.
  • Whatever their method of choice, follow through with appointment reminders at least 24-48 hours prior to their scheduled window. If you speak to someone directly during a reminder, choose words that prompt the patient to agree to call if they cannot keep the appointment. Cancellations are less frequent when the patient feels they have made a commitment.

4. Set aside time at least once a month for your team to reach out to patients who are not yet scheduled for their next visit. Use the preferred contact method on file and offer same day or next day appointments, if possible. This has the benefit of both bringing back inactive patients and filling openings left by cancellations or reschedules.

Communication is key in reducing no-shows and reactivating patients. Before implementing new strategies for scheduling, hold a team meeting and discuss your new policies in detail. Be certain that every member on your team is ready and willing to explain the value of treatment, follow up with patients, and support the changes to your systems.

For more ideas that can help your business thrive, contact our office for a consultation.

Baton Rouge CPA | 4 Ways to Grow Your Confidence as a Business Leader

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The up and down nature of confidence can be exemplified as a business leader because of the stressful nature of maintaining a high-ranking position. Confidence can grow with practice and effort. Here are four ways to grow confidence as a business leader.

Consistency is Key

Rapidly changing methods and ideas can prevent a business leader from feeling confident. The business should work for the business leader, not the other way around. Gaining a sense of consistency and stability with schedules, rules, and realistic expectations can lead to an increase in confidence that the business will run smoothly. Know and understand the key parts of the business, important dates, and the function of each role. You can only become confident in your business operations when you fully grasp the nature of the entire business.

Be Yourself

Being afraid to say what you think can be viewed as a lack of confidence. Speaking your mind, while still having a professional filter, can build confidence as it shows you are part of a team and contributing. Being yourself will also dispel any notion coworkers might have that you are not being a genuine person. Openness and authenticity will not only strengthen your bond with your employees, but are also essential traits for effective leadership.

Be Open to Criticism

Change cannot come from one person alone, and not all criticism should be seen as a slight against you. Listen to feedback from coworkers and customers and tailor that feedback into something positive. Do not let the criticism fester and destroy your confidence, take it and use it to grow as a person. Accepting constructive criticism and negative comments can help increase your confidence.

Know What You Are Talking About

Fully understanding what you are talking about can help improve your confidence. If you are a business leader, strive to know everything you can about the business and its operations. If you are speaking about a topic, research everything you can about that topic. Become the expert. You will be better positioned to demonstrate confidence when it is clear that you are invested in what you are discussing.

Confidence can not only make or break your career, it can impact the business as a whole. You can take your confidence to the next level, while learning how to prevent situations from arising that can be detrimental to your confidence.

For a consultation, contact our team.

Baton Rouge LA CPA | Claim Financial Freedom

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Whether you’re starting a new practice or have been an owner dentist for years, the financial stress that can come from being a business owner can sometimes overwhelm even the most seasoned professionals. Our goal is to help you achieve complete financial freedom so that financial worries don’t interfere with your ability to work well.  

Baton Rouge LA CPA | Claim Financial Freedom

Below are some tips you can follow on your own to help build a rock-solid foundation for your practice. Staying organized and up-to-date with your financials allows you to focus on delivering quality care to your patients. Contact our firm today to learn how we can help! 

1. Have a plan. As the popular saying goes, “failing to plan is planning to fail.” In order to see true success, you’ll need to have both short and long-term plans for your practice. How will you allocate new earnings? How is your practice prepared to deal with slow seasons? How are you budgeting for new purchases? If you don’t already have answers to these questions, they could be a great place to start. Planning for the unexpected can help safeguard your profitability from being derailed by unforeseen expenses. 

2. Set goals. Don’t be afraid to dream big. Your practice will only be as successful as you make it. Setting goals allows you to have a clear yardstick to measure your success against and can help you make better financial choices in the present. By recognizing the simple truth that every small decision you make now can have a huge impact on the future, you’ll be able to start setting yourself up for success. Your future self with thank you. 

3. Be Smart. When starting or growing your business, there can be benefits to taking on strategic debt. However, doing so in a manner that will benefit, rather than hinder your growth requires an understanding of the returns you can expect on your investment. Don’t jump into big purchases without a plan, rather weigh the potential benefits and risks of all your financial decisions. 

4. Get Organized. Disorganization can be a killer for any business. In order to ensure you’re not letting anything important slip through the cracks, it’s important to have systems in place that will guarantee nothing is missed. In addition to protecting you from unforeseen troubles, efficient organization can also help bring opportunities for improvement to light. Whether it’s money that could be saved or resources that could be conserved, understanding the ins and outs of your financials can help you to understand exactly how your money is being used. 

If you feel that you could improve in any of these areas, our firm is here to help! Our goal is to make the process of managing and running your practice as simple as possible, allowing you to focus on delivering quality work to your patients and growing your business. Contact us today to learn more. 

70808 CPA | How to Prepare for an Audit

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CPA Near Me

The prospect for an audit can be daunting. The best way to combat the stress and anxiety induced with this process is to prepare yourself and your company before it happens. Below are a few tips to keep your stress levels low and your preparations high through the process.

Know what it will entail

If you are unaware of what an audit entails, it is a good idea to do your research and learn about the process. Knowing what questions the IRS examiner might ask or what documents they will want to see can help control your anxiety and show you are well prepared.

Document thoroughly

Get in the habit of keeping up with your primary and secondary tax records year-round to be better prepared for when an audit happens. Staying organized using a personal filing system will help you know where everything is. Be sure to have a digital and paper trail as well incase anything happens to either filing system.

Gather the Information

Before the audit happens, make sure you have all the necessary documentation that will be asked of you to present. If you believe something is missing, you can try to recreate the records as accurately as possible or contact the place where you submitted it to for their records. Since you will have all your documents in one place, lay out the information and label it for the auditor for an efficient process.

Pre-audit compliance report

If you feel overwhelmed or disorganized, get on track with a thorough examination of your financial data to prepare and compile your documents. Our experienced team will help you set up a system and provide you with confidence if facing an audit.

For more information on audits, or addition accounting advice, contact us today.

6421 Perkins Rd.
Bldg. A, Ste 1B
Baton Rouge, LA 70808

(225) 767-1020

Dental CPA Near Me | Get Organized, Get Productive

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Dental Accounting

Time is money. If you want your practice to be as efficient and economically prosperous as possible, you don’t want to spend valuable time dealing with the effects of clutter and chaos. Disorganization is shown to have a direct negative impact on productivity and, by extension, your earning potential as a practice.

Whether you feel like you’re drowning in papers or you want to learn tips to take your efficiency to the next level, here are some tips to help you and your team get organized. Contact our team today to learn more about the strategies we can help you implement to ensure you’re getting the most out of your practice.

Clean Up the Clutter

When you have so many different things demanding your attention throughout the day, it can be difficult to keep on top of everything. If you’re not careful, papers and other clutter can accumulate faster than you realize. Once the pile starts to get away from you, it can be hard to ever work your way back through without having to set aside valuable time to sort through everything.

It’s easier to avoid getting yourself into this mess in the first place once you have organizational strategies in place. You might create a unique filing system for handling the various kinds of mail that comes through your office. Perhaps you set specific team members in charge of returning calls. The best system of organization is the one that works for you and your team.

Don’t Let Your Time Manage You

It can be difficult to prioritize the different duties of your work. It’s rare that even an hour will go by without a variety of different distractions. While you’ll have the occasional emergency that demands immediate response, most of these interruptions will not need to be addressed right away.

Resist the urge to drop everything every time a new email or task arises. Operating this way will only make it harder to actually accomplish any of your duties on time. Instead, learn to prioritize which things need to be addressed immediately and which can be done later. Delegate what can be passed to another and clarify deadlines for things that must be completed by you to allow accurate prioritization of tasks.

The day-to-day efficiency of your business can impact its long-term success. Don’t waste your time digging through clutter because you’re working without a plan. For more strategies for your success, contact our office.

Apple Guerin Company LLC
6421 Perkins Road, Bldg. A, Ste. 1B, Baton Rouge, LA 70808
(255) 767-1020

Dental CPA Near Me | Smart Money – Filing Taxes with an Accountant

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Dental CPA Baton Rouge

Did you know that more than 65% of failed businesses blame financial mismanagement as their downfall? This is why forming a good relationship with a professional financial advisor is paramount to the longevity of your business.

When is the most important time to have this established relationship in place? That’s right – tax time. If you’re thinking about taking any shortcuts during this time (like using online software), you may want to reconsider. Why risk your entire business by cutting corners on something so crucial? Consider these reasons why you should work with a professional accountant.

Accountants understand tax code. Tax code is not only complicated – it changes frequently. It’s literally a full-time job interpreting and staying up to date. A financial professional will be able to guide you through this and take that stress off your plate. You’re already busy enough without having to keep up to date on tax law. Knowing you’re working with a professional can eliminate the stress of tax compliance. It’s hard to put a price on peace of mind.

Accountants know how to get you more deductions. Everyone wants to maximize their deductions, but only a true professional financial expert can get you everything you deserve.  Don’t leave any money on the table and don’t overpay on your taxes. Working with an accountant throughout the year will ensure you have the documentation you need to get your deductions and not overpay your taxes. This is exceptionally important especially for small businesses, like most dental offices.

Accountants minimize your risk. Are taxes the place where you want to cut corners and take a risk with your business and your team’s financial future? One mistake can land you in a heap of trouble. No one wants to deal with any sort of issue with the IRS let alone an audit. If you run into one of these scenarios, you’ll wind up paying far more than you would have if you worked with a professional from the beginning.

Everyone is willing to take some risks, especially small business owners and entrepreneurs.  Being brave enough to start your own business or follow your dreams is a risk in itself.  Don’t jeopardize your dream by cutting corners on one of the most important tasks of every year.  Work with a financial professional and allow yourself the peace of mind to protect what you’ve built.

Contact us today for further information. 

Apple Guerin Company LLC
6421 Perkins Road, Bldg. A, Ste. 1B, Baton Rouge, LA 70808
(255) 767-1020