Bookkeeping Services for Psychologists

Bookkeeping and Accounting for Psychologists

In need of a bookkeeper and accountant for your psychology practice? Let us handle your books, giving you more time to focus on your patient's mental health. Try us for free.

* No Debit/Credit Card Required
Accracy Accounting Online Remote Bookkeeping Services for Psychologists
Accracy Accounting QuickBooks Certified ProAdvisor
Accracy Accounting Xero Certified Advisor
Accracy Accounting Gusto Payroll Certiication
Accracy Accounting Fathom Certified Advisor
Accracy Accounting Karbon Certified Expert
Free 1 Month Bokkeeping Trial

New Customer Offer

We are offering free 1 Month Basic Bookkeeping to all new customers so you can experience Accracy's seemless and professional services.

* No Debit/Credit Card Required

How Accracy works with Psychologists

In need of a bookkeeper and accountant for your psychology practice? Let us handle your books, giving you more time to focus on your patient's mental health. Try us for free.

Accracy Accounting CPA CA Oversight
We get you set up

Our team makes the effort to thoroughly understand your psychological practice, respond to your queries, assist you in syncing your accounts, and guide you on how Accracy functions.

Accracy Accounting Digital Fluency
We do your bookkeeping

Every month, your dedicated bookkeeper sorts through your psychology practice transactions and compiles accurate financial statements. If they require any additional information from you, they'll initiate contact.

Accracy Accounting One-on-one expert support 24/7
We deliver tax-ready financials

Every month, your dedicated bookkeeper sorts through your psychology practice transactions and compiles accurate financial statements. If they require any additional information from you, they'll initiate contact.

Here’s why Psychologists like you trust Accracy with their bookkeeping and accounting

Get fast, unlimited support for Psychologists with Accracy Accounting and Bookkeeping Services

Get fast, unlimited support from our expert advisors

We'll persistently contact you with bookkeeping updates tailored for your psychology practice. Have urgent inquiries that can't be put on hold? We'll respond to you within one business day or even less.

Guaranteed accuracy in every detail for Psychologists with Accracy Accounting and Bookkeeping Services

Guaranteed accuracy in every detail

Our platform enables you to streamline data inputs from most major providers, averting typical errors. We collaborate with providers familiar to psychologists like Gusto, Stripe, TherapyNotes, and Squareensuring your finances are always pinpoint accurate.

Make Smart Decisions for Psychologists with Accracy Accounting and Bookkeeping Services

See where you’re spending. Make smart decisions

Wave goodbye to mountains of client invoices and labor-intensive financial tracking — our system automates inputs directly from your linked accounts. Gain insights from one comprehensive dashboard, empowering you to comprehend the financial health of your psychology practice and make informed strategic decisions.

Bookkeepers for Psychologists

For psychologists, the intricacies of their financial management can become overwhelming. Especially dealing with the nuances of medical service codes, industry-specific tax deductions, and laws such as HIPAA that require careful handling of sensitive information. This is where Accracy comes to the rescue. We provide adept online bookkeeping services that relieve you of these daunting tasks. Our team is proficient in managing psychologist-specific financial aspects like accurately reporting on both deductible and non-deductible expenses, correctly coding mental health services for billing, and handling private health information without violating HIPAA mandates.

Not only do we handle regular bookkeeping, but we also simplify tax preparation for psychologists. Incorporating a psychiatrist's professional and office expenses, making use of applicable deductions, and providing a clear representation of your business for the tax period require an adept understanding of the profession and its tax nuances. Accracy pairs intuitive software with expert human bookkeepers to manage your books in a revolutionary way. Our team knows the ins and outs of the tax laws and obligations applicable to psychology professionals, ensuring your accounts are not only compliant, but optimally organized for tax benefits. With Accracy, you can focus less on the complexities of finances and more on supporting your clients' mental health.

Accracy Pricing

Simple, straightforward bookkeeping pricing for everything your business needs.

Join over 1000 business owners who have streamlined their finances and have grown their businesses with Accracy.

Basic

Starting from
$200 / month billed annually
  • Dedicated Bookkeeping Experts
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Catch Up Bookkeeping

$500 / Billed Once
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Executive

Customized Pricing

Everything in Basic plan +

  • Dedicated Account Manager
  • Sales Tax
  • Corporate Tax
  • Payroll
  • Accounts Payable
  • Accounts Receivables
  • Full Support Team
  • + Additional Customized Services

Schedule a Meeting

Basic

Starting from
$250 / month
  • Dedicated Bookkeeping Experts
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Executive

Customized Pricing

Everything in Basic plan +

  • Dedicated Account Manager
  • Sales Tax
  • Corporate Tax
  • Payroll
  • Accounts Payable
  • Accounts Receivables
  • Full Support Team
  • + Additional Customized Services

Schedule a Meeting

Frequently Asked Questions about Bookkeeping and Accounting for Psychologists

As a psychologist, you can deduct a range of industry-specific expenses on your taxes. Some of these include:

  • Continuing education fees: Courses, workshops, and seminars to maintain your license or further your skills.
  • Professional insurance: Both malpractice and general liability insurance expenses can be deducted.
  • Supplies and materials: Costs related to psychological testing materials, office supplies, and other materials necessary for your practice.
  • Home office deductions: If you use a portion of your home for your psychology practice, you may be able to deduct these expenses.
  • Travel expenses: If you travel for professional reasons, such as visiting clients or attending conferences, you can deduct these costs.
  • Professional association dues: Membership fees for professional organizations such as the American Psychological Association.
  • Advertising and marketing costs: Expenses associated with promoting your practice, including website maintenance, digital marketing, and print advertising.

Please consult with a tax professional or accountant to learn more about eligible deductions for psychologists, as this list is not exhaustive.

Managing a private psychology practice requires specific accounting practices for effective financial management. These include:

  • Accounts Receivable Management: Ensuring invoices are sent out in a timely manner and following up on overdue payments is key.
  • Expense Tracking: Regularly recording all business expenses will keep the practice financially healthy and ready for tax season.
  • Budgeting: Creating and sticking to a budget will help manage costs and ensure that the practice remains profitable.
  • Payroll Management: If the practice employs other practitioners or staff, accurate and timely payroll is a must.
  • Tax Planning and Preparation: Implementing a system for tracking receipts, deductibles, and quarterly estimated tax payments can save time and prevent headaches at tax time.

Outsourcing these tasks to a professional bookkeeper can streamline these processes and allow the psychologist to focus more on their clients and less on the financial side of running a business.

Not necessarily. While some aspects of finances in a psychology clinic, like insurance reimbursements and patient payments, can be complex, a competent and experienced bookkeeper should be able to handle these tasks. However, it may be beneficial to find a bookkeeper who has experience working with healthcare providers as they might be familiar with industry-specific financial challenges. At Accracy Accounting, we have a diverse team of savvy bookkeepers who have experience across various industries and can certainly help manage the financial aspects of your psychology clinic.

We understand that when our clients turn their accounting and bookkeeping services over to us, trust is paramount. We have a team of certified professionals, use proven technologies, and hold ourselves accountable every day. Yes, you can trust us with your sensitive data and to deliver accurate, timely accounting services for your business.

Absolutely. Our team members are all certified in the leading accounting systems and can quickly get your files up to date.

Don’t worry, your financial data belongs to you. Our offboarding is pretty straightforward as we transfer account ownership to you. As a bonus, there’s no stopping you from replicating the workflows we’ve created for your in-house process – in fact, we encourage it.

Savings can vary considerably depending on your current solution, but our clients tell us that it is generally between 30% and 50%.

We do not provide year-end tax filing services as we are not a CPA firm. However, if you are looking for a year-end tax accountant, we would gladly refer you to one of our partners. Having a separate bookkeeper and year-end accountant ensures additional oversight on the accuracy of your books. Your year-end tax accountant can help you review your books during tax season.

No, we are not a CPA firm. Accracy is not a public accounting firm and does not provide services that would require a license to practice public accountancy.

No. We do not offer services which fall under the jurisdiction of these organizations. We have partner organizations who can provide those services if needed by clients. A good example of such services are tax advisory or statutory filings. We have a number of non-economic partnerships with CPA firms who can help our clients with these services if needed.

Every account is set up with a Client Success Lead who will be your day-to-day contact. They’ll liaise with the rest of the team members on your account which may include an accounting manager, bookkeeper, payroll specialist, and payables specialist.

Accracy can support a wide range of companies, from small businesses and startups to large public corporations. Our services are tailored to meet the unique accounting and bookkeeping needs of businesses across various industries.

At Accracy, we operate as a fully remote team, delivering our bookkeeping and accounting services online. We have the necessary tools and systems in place to work efficiently and securely from our remote locations. We will coordinate and collaborate with your onsite team to ensure smooth communication and workflow integration.

Accracy Accounting Frequently Asked Questions (faq)

Our Services

Your Needs, Our Solutions: Total Coverage Guaranteed

Stress-Free Bookkeeping and Back Office Accounting Solutions for Your Business.

Bookkeeping

Precise Financial Organization

Embark on a transformative journey towards financial clarity with our comprehensive organizational services. Beyond mere bookkeeping, we delve deep into the intricacies of your financial records. Every transaction is meticulously documented, categorized, and structured to provide not just accuracy but a foundation for strategic financial understanding.

Bookkeeping

Financial Reporting

Actionable Financial Insights

Beyond mere numbers, our reporting services are a gateway to actionable insights. We go beyond presenting data; we interpret, analyze, and deliver reports that serve as strategic roadmaps for your business. Timely, clear, and comprehensive, our insights empower you to make informed decisions, identify opportunities, and navigate challenges with confidence.

Financial Reporting

Accounts Payable & Receivable

Efficient Accounts Management

Efficiency is the cornerstone of our accounts management services. Whether handling payables or receivables, we streamline your financial transactions to optimize cash flow. Our focus is on creating a robust system that not only meets compliance standards but also ensures that your financial operations are a well-oiled machine, contributing to the overall health of your business.

Catch-Up Bookkeeping

Timely Financial Updates

Don’t let backlog hinder your progress. Our catch-up services are designed to bring your financial records up to speed. We meticulously address any gaps, ensuring that your records are not just current but also compliant. Stay on top of your financial game with timely updates that provide a comprehensive view of your financial landscape.

Catch-Up Bookkeeping

Fractional Controllership

Strategic Financial Guidance

Experience the benefits of seasoned financial leadership without the full-time commitment. Our fractional controllership services bring in experts to guide your financial strategies. Beyond mere oversight, our professionals actively contribute to optimizing your business performance. Benefit from strategic insights, financial planning, and a level of guidance that propels your business towards sustainable success.

Fractional Controllership

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