10 Vital Things to Consider When You Are Choosing a Dental Accountant

You may be wondering why you need to hire a specialist dental accountant at all – surely any reputable professional accountant will be able to help a dentist? The fact is that dentists need an accountant who has specific knowledge of the legal and financial implications of owning a dental practice and/or practising as a dentist.

It’s vital that you hire an accountant who has significant expertise in the area of dental accountancy. Only an accountant who has this expertise can optimise your financial and tax position. However, simply having experience as an accountant for dentists does not make that accountant a good choice for you and your practice. There are several factors that you need to consider when choosing a dental accountant.

These are the 10 things we think all good dental accountants need.

Level of competence in the dental finance and tax arena

This is a consideration that is paramount. You need to make sure that your tax position is optimised. This is why it’s so important for the dental accountants you hire to have extensive knowledge of the tax rules that govern the dental industry, and how to use this knowledge to make sure you get the best possible outcome.

In addition to this tax knowledge, any dental accountant you hire needs to have experience of handling the complexities of finance in the dental industry.

Not all industries are the same. Being a great accountant in one sphere doesn’t necessarily translate into a great dental accountant. A great dental accountant as a wealth of knowledge and experience in the market.

Read about how Samera makes Dental Accountancy easier.

Range of services available

You want your relationship with your dental accountant to be as productive as possible. For this reason, it’s useful if the dental accountants you choose can provide a range of different services. The services that you may require include:

It’s easier to deal with the same provider for all of this help, so choosing a dental accountant who offers a range of services makes sense.

Click here to find out more about our dental accountancy services.

Listen to our podcast episode on how dental practices need to organise their finances in 2021.

Level of communication skills

There is little point in receiving advice about your tax and financial position if you do not understand it. Your dental accountant needs to be able to explain advice and information to you in a way that you can easily understand, so they need to have highly developed communication skills.

You need to have a defined and dedicated point of contact on whom you can rely at all times.

Click here to book a free consultation with our team or contact us here.

Effectiveness of planning

Financial and tax planning is one of the most important aspects of running a successful dental practice. If this planning is not in place, you could end up with a large tax bill that comes as a nasty surprise!

You need to be able to rely on the accountant you hire to help with your budgeting and planning, so they need to be able to demonstrate this attribute.

Read our 4 steps to streamline your finances and accounting.

Level of accessibility and responsiveness

You need to be able to get information and support from your accountant quickly and easily. Your dental accountant should always have the same day or next day service for responding to clients’ queries.

It’s also useful to look out for special arrangements made that take into account clients’ availability and provide access to out of hours support. Our team are happy to discuss clients needs after hours as long as it has been pre-arranged.

Read our top 10 tax saving tips for dentists.

Value for money

Choosing the best dental accountant for your practice does not mean choosing the lowest cost option – after all, cheapest rarely means best! You need to take into account factors such as experience, reputation and services provided when establishing which dental accountant provides you with the best value for money.

The last thing you want to do is be attracted by a great price, only to find that the accountants you have chosen are out of their depth, should you ever decide to take a major step such as buying or selling a dental practice!

Read our 7 benefits of cloud accounting software for a dental practice.

Reputation and proven performance

Research is an important part of any decision you make regarding the hiring of a dental accountant. Look for any success stories that an accountant has. These stories can help to show you how the dental accountant you choose can help your business to be successful. You should also look for independent reviews of accountants before you make your final choice.

Click here to read our Google reviews.

Ethos and principals

It’s vital that any dental accountant displays an ethos and principles that are aligned with helping you and your business to succeed. Important principles include:

  • Provision of clear and accurate advice.
  • Guarantee of up to date industry knowledge.
  • Easy contact facilities.
  • Honest and approachable manner.

Make sure that you are fully aware of the ethos and principles of the dental accountants that you hire.

Listen to our podcast on how dentists can reduce their tax bill the right way.

Clarity of fees

You need to understand what the cost of your dental accountant’s services will be. These costs should be detailed upfront, so that you do not have any nasty surprises down the line. Make sure that the accountants you hire have a fully transparent pricing schedule and that they are happy to discuss costs for their services from the start.

Experience with dental practice purchases and sales

There may come a time when you are looking to acquire new or further premises, or when you want to sell your dental practice. This may not be the case when you first hire a dental accountant, but you have to be prepared for needs that you may have in the future. This is why it’s so vital to make sure that the professionals you choose have experience in successful dental practices purchases and sales.

Choosing a dental accountant is not a task that should be undertaken lightly. You need to make sure that you do not regret the decision that you make. The factors mentioned in this article should play an important role in your decision making process. The dental accountant you hire should be able to provide a range of services and be available when you need them. They should provide you with excellent value for money and their pricing structure should be transparent.

At Samera, we recognise the importance of a valuable relationship with our customers. We put our years of experience and expertise to use providing a range of vital dental accountant services to clients. Contact us about the dental accountant services we can provide for your dental practice.

Book a Consultation With Our Dental Accountants

Whether you are an associate or a dental practice owner, our team of specialist dental accountants can help you save money, time and effort on your accounts and tax.

Join the Dental Buying Group for FREE

The Samera Dental Buying Group is FREE to join for all of our accountancy clients – and the first 3 months are free for everyone else!

When you join the Dental Buying Group, you get exclusive discounts on the consumables, products and equipment you need to build and grow your dental practice.

Simply join the group for free and you’ll benefit from reduced prices. It really is that simple!

Further Information on Dental Accounts and Tax

To find out more about how you can save time, money and effort on your accounts and tax when you automate your finances with Samera, book a free consultation with one of our accounting team today.

As dental practice owners ourselves, we know what makes a clinic tick. We have been working with dentists for 20 years to help manage their accounts and tax. To find out how we can help your practice’s finances, book a free consultation or contact us today to find out more.

If you’re a dental associate looking to save time, money and effort on your accounts and tax then we want to hear from you. Our digital platform takes the hassle and the paperwork out of accounts. Book a free consultation or contact us today to find out more.

Find Out More

For more articles, webinars and blogs on dental accounts check out the dental accountancy section of our Learning Centre and follow us on YouTube, Facebook and Instagram.

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