Do You Need A Dental Accountant Or A Regular Accountant?
And the answer is simple.
The answer is:
It depends upon you.
Some dentists need a dental accountant.
It makes them feel “safe”, knowing that their figures, their books, and their performance, are being overseen by someone who “knows” their industry.
“How am I going compared to my colleagues?”
This is a common question being asked by clients of a dental accountant.
There is some surety to know that, in a pool of dentists associated with each other by who does their books, you have a benchmark to make comparisons.
“Your collections are above the average for my clients.”
“Your staff expenses are higher than the average for my clients.”
“You’re paying more rent per square foot than my average dentist client is paying.”
The list goes on….
How about this one?
“Your spouse is spending 46% more than my average dental client’s spouse is spending…”
There is a *surety* of association knowing that if we dentists are all together with this firm who specialises in looking after dentists then we must be better off than if we were simply using an accountant who looks after a wide range of businesses.
And I get that sense of togetherness.
And for a proportion of the profession there is peace of mind with that surety.
Others prefer to be running with a different crowd.
There’s a counter thought for the entrepreneurial dentist…
Would he be better off being looked after by an accountant who looks after other entrepreneurs from a variety of industries and careers other than dentistry?
Is there something to be learned by associating with industries other than our own?
There’s certainly an argument for this case as well.
Staying with the pack may stifle the entrepreneur dentist.
He might be better off learning and hearing about some non-dental successes and failures?
After all, every business, be it dental or non-dental, is really trying to make more money and to make more profit.
And the easiest way to achieve this at the end of the day is to
- Collect more. Have more dollars coming in to your business.
- Spend less. Have lower outgoings and overheads.
- Invest better. Put your profits to work wisely.
All these can be achieved in an environment away from the gatherings of similarity of source of income.
It’s a tough decision to make….
A dentist friend of mine has jumped from accountant to accountant to accountant.
He’s had some interesting stories with a variety of firms, and found underperformance and disappointment both in specialist firms and non-specialist firms.
It’s a decision that you need to make for yourself, that depends upon your comfort levels according to your knowledge requirements and your own profiling in personality and in performance.
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