Cost Analysis: In-House vs. Outsourced Bookkeeping for Medical Practices Weighing the Financial Impact on Your Healthcare Business Accurate financial management is vital for the success of any medical practice. But deciding whether to handle bookkeeping in-house or outsource it can be a complex decision with significant financial implications. At FinSource, we understand the unique needs […]

Driving Success: How the Right Payroll App Can Transform Physical Therapy Practices In the physical therapy workforce, efficient payroll management is crucial for maintaining smooth operations and ensuring employee satisfaction. However, selecting the right payroll app goes beyond just processing paychecks. The ability to integrate your payroll system with an accounting software like QuickBooks Online […]

How Outsourcing Accounting Can Help Medical Practices Stay Compliant The healthcare industry is known for its complex financial landscape. Medical practices often struggle to navigate the unique challenges of revenue cycle management, insurance billing, and ever-changing regulations. This is where outsourcing accounting services becomes a game-changer, particularly for those aiming to maintain impeccable compliance. Why […]

Cash vs. Accrual Accounting for Medical Practices: Why Accrual Offers Clearer Insights Cash basis accounting might seem simpler for small medical practices, but its limitations become clear as a practice grows. When a practice surpasses a few hundred thousand dollars in annual revenue, the disconnect between when services are delivered and when payments are received […]

Common Misconceptions About Outsourcing Bookkeeping for Medical Practices The healthcare industry is unique, and so are its financial needs. Medical practices often grapple with complex billing, insurance claims, and regulatory compliance, making efficient financial management crucial for their success. This involves not only accurate bookkeeping but also strategic financial planning and analysis to ensure the […]

Finsource Accounting: Your Partner in Financial Clarity In today’s fast-paced business environment, having a clear understanding of your financial situation is more important than ever. But managing your books, preparing for tax season, and making informed strategic decisions can be overwhelming. That’s where FinSource Accounting comes in. We are your trusted partner, dedicated to bringing […]

12 Different Types of Accounting and How They Work Let’s face it: You know accounting is an important part of your business. It helps you understand your business’s financial situation and plan for the future. But the truth is, there are many different types of accounting, and you might be wondering which will provide you […]

What is Accounting: Types, Examples, and FAQs Whether you run a small business or an enterprise, accounting plays a key role in financial management. With accounting skills, you can set a budget, optimize tax returns, or forecast trends. Still, even after learning what an accountant does, you might still wonder what accounting is at its […]