Account Structure for a Medical / Physician / Primary Care Office

[Alice Lee]

You have to have someone with some accounting knowledge in your office. To begin with, that person may be receptionist, bookkeeper, and coder for insurance:  a jack of all trades.  You have to have accurate accounting records, both balance sheet and income statement.  The business aspect that gets most starting businesses in trouble, is payroll. Be sure that you hire someone who can handle payroll and the required reports at the beginning. This program has the invoicing that you need but you will most likely need to record pending insurance payments and co-payments.  You are a service business so your income should consist of fees for services--if you provide more than one type of service, just set up different fee-income accounts.  Your expenses will be very routine.  I would set up the expense accounts on the fly as you need them. Analysis of your business would not normally include names of vendors or names of payers.  The names of your patients will be on the invoices within the system.  The vendors can be set up in accounts payable.  These features are available in the business section of the program.  

-----Original Message-----
From: gnucash-user [mailto:gnucash-user-bounces+alee212007=satx.rr.com at gnucash.org] On Behalf Of Milton Stern
Sent: Sunday, May 10, 2015 8:49 PM
To: R. Victor Klassen
Cc: Gnucash Users
Subject: Re: Account Structure for a Medical / Physician / Primary Care Office

Thank you Mr. Klassen,

The tax forms would be a good starting point for many, but I'm afraid that I'm looking for a little more granularity to help track activity specific incomes/payors and expenses/vendors for business analytics.

Thanks again,

Moshe


On Sun, May 10, 2015 at 6:58 AM, R. Victor Klassen <rvklassen at gmail.com>
wrote:

> What I did when starting up a business was to consult the tax forms 
> for the categories of expenses I would later be reporting for tax purposes.
>
> Some of those categories are worth subdividing; some don’t apply; most 
> taxation systems have an “other expenses” category which could be 
> significant.
>
> But if you don’t get a direct response from anyone with a chart of 
> accounts, that’s a start.
>
> On May 10, 2015, at 12:05 AM, Milton Stern <drmoshe5 at gmail.com> wrote:
>
> > Thank you for the advice and direction.
> >
> > At this time, I'm in the planning stage of opening a medical 
> > practice startup on a shoestring.
> > If someone has a proven Chart of Accounts in the group, that would 
> > likely be the most cost efficient for me at this time.
> >
> > Moshe
> >
> >
> > On Wed, May 6, 2015 at 9:04 PM, John Ralls <jralls at ceridwen.us> wrote:
> >
> >>
> >>> On May 6, 2015, at 10:59 AM, Milton Stern <drmoshe5 at gmail.com> wrote:
> >>>
> >>> Would anybody have references, or be willing to share, an 
> >>> appropriate GnuCash Account Structure for a Solo Medical / 
> >>> Physician / Primary Care Office?
> >>
> >> You can use whatever Chart of Accounts you’d use with paper books. 
> >> The business template will probably be pretty close. That said, if 
> >> you don’t already know what accounts you need you probably should 
> >> hire an
> accountant
> >> to help you get set up, and it might be in your interest to use a 
> >> commercial integrated program that helps you deal with all of the 
> >> other stuff that running a practice involves. After all, you want 
> >> to spend
> your
> >> time seeing patients rather than doing by hand work that a computer 
> >> can
> do
> >> for you.
> >>
> >> Regards,
> >> John Ralls
> >>
> >>
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