by Nathan Hayes | Aug 24, 2024 | Uncategorized
One question we often hear from prospects is, “Why should I pay you each month when I can do my financials in 10 minutes?” And it’s a fair point. We market ourselves as time-savers for the practice owners handling their own bookkeeping. In addition to saving...
by Nathan Hayes | Aug 17, 2024 | Uncategorized
At Books & Benchmarks, we understand that some optometry practice owners prefer to manage their financials independently. However, for us to provide the best service, it’s important to work together closely. When practices share insights and details about bank...
by Nathan Hayes | Aug 10, 2024 | Uncategorized
Occasionally owners will ask us about using an accrual method of accounting versus cash basis. If your eyes are already glazing over, I understand. But let’s get technical anyway, starting with the difference between cash basis and accrual basis. What do you...
by Nathan Hayes | Aug 3, 2024 | Uncategorized
On this blog, we’ve been working through all seven key expense areas, and we will cover equipment costs for optometry practices this week. Equipment costs are complicated. First, let’s look at the typical P&L expenditures on equipment, followed by some balance...
by Nathan Hayes | Jul 27, 2024 | Uncategorized
I once saw a financial report for a practice that used colors to show if their spending was above or below average in different expense areas—green for below average (good) and red for above average. There were two green areas: occupancy costs and...
by Nathan Hayes | Jul 20, 2024 | Uncategorized
Bills happen. It would be nice to have fewer bills, but they’re an ongoing reality and they need to be. Historically, paying bills meant mailing a check back with the statement you received in the mail. For many owners, writing checks to pay bills...
