by Nathan Hayes | Aug 23, 2025 | Budgeting, Cash Flow & Cash Management, Financial Operations
During a recent financial review with a client, one of our optometry bookkeepers was surprised when I praised the practice owner for investing extra cash instead of aggressively paying down debt. Disclosure: We are not Certified Financial Planners (CFP) at Books...
by Nathan Hayes | Aug 2, 2025 | Cash Flow & Cash Management, Financial Operations
Where did all the money go? Most of our clients have been fairly flush with cash since Books & Benchmarks got started. We happened to launch right around the time COVID-19 relief funds were landing in practice bank accounts, giving many a temporary...
by Nathan Hayes | Jun 7, 2025 | Cash Flow & Cash Management, Financial Operations
In a previous blog on cash reserves, I covered why it’s unwise to let large amounts of cash sit in your practice. Now, I want to expand on the reasons why it’s important to intentionally and regularly distribute excess cash. If you need a refresher on how to...
by Nathan Hayes | Mar 29, 2025 | Budgeting, Cash Flow & Cash Management, Financial Operations, Risk Management & Financial Security
I recently spoke with a young optometrist who wants to buy the practice he’s working at without taking on any debt. He had a tough time with consumer debt after optometry school and understandably never wanted to feel over-stretched like that again. I...
by Nathan Hayes | Dec 14, 2024 | 7 Key Expense Areas, Cash Flow & Cash Management, Equipment Costs, Financial Operations, Tax Prep
As we approach the end of the year, equipment manufacturers are flooding their advertisements with reminders of the tax savings you can enjoy by purchasing new instruments and deducting them from your tax return. With this in mind, many optometry practices may be...
by Nathan Hayes | Sep 14, 2024 | Cash Flow & Cash Management, Financial Operations
During a consultative call recently, I was asked one of my favorite questions: “Why isn’t the profit on my P&L in my checking account?” I’ve been thinking a lot lately about how ODs manage cash and cash flow (I even discussed it with my friend Adam...
