The 5 Magic Steps for Creating a Successful Relationship With Your Accountantby Dr. Ron Arndt
Remember, as the CEO of your dental practice – you must think like a business owner, not just a clinician.
- Get it together: Gather your monthly information and provide in one complete package to your accountant rather than delivering scattered information in bits and pieces. That way is inefficient and costly. Establish a system that allows you to do this, like scheduling it on your calendar as an appointment.
- Be honest: Finances are sensitive and intimate, but please, provide your accountant accurate information. Concealing what you perceive as problems will hurt you more in the long run.
- Make quick decisions: Arrange to review your financial statements with your accountant as soon as he or she has completed them. This will enable you to make fast decisions.
- Pay up on time: This is one person with whom you don’t want to be in arrears. You want to remain a “high priority” client.
- Meet as a group: Include your accountant, financial planner, estate-planning attorney, business banker and spouse (if applicable). Everyone is responsible for and affected by a different area of your finances, so make this a team sport.