4 Things You Should Never Do With Your Accountant
by Dr. Ron Arndt
- Let them do it all: Ask questions and “demystify” your dental practice’s financial affairs by listening and learning. Develop a rapport of openness with your accountant so that you can feel comfortable asking just about any question related to the financial operation of your business.
- Make last minute decisions: Ask for ample time to evaluate each major decision that you have to make regarding the financial future of your dental practice. Avoid making last minute decisions with short notice, as that inevitability turns into a costly mistake.
- Play the guessing game: Provide your accountant with financial information from industry journals, for comparison purposes. That data may be more current than other data available to your accountant.
- Forget that he or she is a member of your team: As you conduct annual goal planning with your team, include your accountant. As a contributing member of your “success team”, your accountant will want to be aware of your goals in the upcoming year, so that his/her help can be the most useful. When you have clear goals, your chance of hitting them is 80%.