If you live in the United States, you know how the medical billing process works. You just might not know what behind-the-scenes Accounting and Bookkeeping services mean to medical professionals. SG INC CPA knows how painstaking it is to find bookkeeping services for doctors. So, remote bookkeepers and CPAs are great guys to help you in Healthcare Accounting. Likewise, getting virtual accounting solutions in the US is also cost-effective and time-saving.
Who is a Remote Bookkeeper?
A remote bookkeeper is simply a bookkeeper who works remotely, usually from home instead of an office. So they do all the same bookkeeping tasks on a computer from wherever they want!
How Remote Bookkeeping Works?
It’s one of those maze terms you might have heard entrepreneurs talk about but need clarification on what it means. Don’t worry; SG INC CPA is here to explain it all in a simple and fun way! Virtual bookkeeping is recording a company’s financial transactions by remote bookkeepers from far-away locations. Remote bookkeeper manages things like:
- Sales
- Purchases
- Tracking of Income
- Expenses
A bookkeeper is responsible for keeping track, maintaining, and updating all these transactions. He does so usually using accounting software. The remote bookkeeper is on the case to log everything correctly when sales happen or bills come in. They are like financial superheroes who swoop in to save small medical businesses from bookkeeping confusion.
When to Hire a Virtual Bookkeeping Service?
Flexibility is one of the best aspects of hiring a virtual bookkeeping service. Bookkeepers often allocate their hours to serve medical professionals according to clients’ feasibility. Doctors can find an awesome gig for those who love numbers and organization. You will need to consider having a remote accounting and bookkeeping service if you have an IRS call on your head.
Working with Remote Bookkeepers
Our bookkeeping hero wakes up bright and early, grabs a cup of coffee, and gets to work right from the kitchen table. No need to commute or sit in a boring cubicle! First, check emails and messages for any new invoices or financial information that needs to be entered.
Arranging Mingled Numbers
Numbers start flying into spreadsheets as transactions are recorded. Was that $562.33 for office supplies or $563.33? Our eagle-eyed bookkeepers’ team catches the discrepancy and gets it right. Next up is reconciling the bank and credit card statements. We make sure every transaction matches is so satisfying! Our bookkeeper hums while hunting down any strange charges or discrepancies. They prepare monthly financial reports, and with a few clicks, the data transforms into summary charts and graphs ready for the client.
Remote Accounting and Bookkeeping Services
Bookkeeping and Accounting services are preferable for physicians who cannot afford the time to sit with physically present CPAs or Bookkeepers. They will give you an insight into your income and taxes with the IRS with:
- Mandatory management of financial records.
- Organized invoicing and billing processes.
- Handling of Explanation of Benefits (EOBs) and medical billing codes.
- Ensuring compliance with HIPAA regulations.
- Monitoring collections and managing write-offs.
Get To Know with EOB
It is an Explanation of Benefits for medical doctors. So, it’s letting you know like:
- Bookkeeping services you got.
- Amount sent to insurance and then how much was covered by insurance usually once it gets approved or not
- How much you earn monthly or quarterly
- Amount of Tax Liability
- How much remaining money do you owe?
Medical Billing
Doctors often need a bookkeeper to work in medical billing in EOB format. SG INC CPA has some healthcare bookkeeping experts and medical billing experts. They know how to work with medical billing codes. So, as the finance person in the medical field, we have a specialized set of codes that the doctors in your office generally use.
We Use Familiarized Software Tools & Kits
We make it simple to work with us for online Healthcare Accounting. Our CPAs use software tools and kits that most doctors are familiar with, such as:
- Microsoft Excel
- Google Sheets
Now, let’s talk about the specific software that we use. We already mentioned that our accountants use Microsoft Excel. They use Microsoft Excel to export reports from banks, credit cards, and QuickBooks. Not only that, but we also use it to track our work for our clients.
Data Sharing Tools
G Suite, which is Google Suite, and it’s a Gmail account. We assimilate our clients to connect their domain names to our dedicated server. We also have fancy CRM software; you can do all of this with our CRM software.
Actuarial Data Visualization
SG INC CPA uses an Acuity schedule to integrate perfectly with our website through actuarial data visualization. We link our data to your space per your schedule so that you can see it at your disposal. We have system engineers on board to give you easy access to view your healthcare bookkeeping record. You can also ask us for OneDrive as cloud storage if you are uncomfortable with our dedicated virtual space. So, everything physically on your computer is backed up by Microsoft OneDrive.
Other Assistive Bookkeeping Software
- QuickBooks Online
- PandaDoc
- Email marketing software (e.g., Squarespace email marketing)
- Stripe (payment processor)
- Our in-house Accounting Software
As a doctor, you need to pick an accounting firm with experience working with other doctors and healthcare practitioners. The reason for us being the first pick by the doctors for their Accounting and Bookkeeping service is our extensive experience working with doctors; regardless of whether we are hired as a contractual CPA service in Dallas, TX, or remote bookkeeping services for doctors, we provide what most doctors need for healthcare bookkeeping. We help collect and remit any HST on most of their services.
Final Words
If you’re not informed of what specific medical billing and tax implications you may encounter, you could be on the hook for a large tax bill without knowing it. So, SG INC CPA is here with our CPAs and accounting actuarial experts to help you have the best solutions with Remote Accounting and Bookkeeping for Healthcare. Our dedicated accounting and bookkeeping service can be an all-inclusive solution for your healthcare accounting needs. To be hired and accessed from anywhere around the States.