Veterinary Payroll Processing: What You Get with a Specialty Firm

The paperwork and financial details needed for veterinary practice accounting on a daily basis can be overwhelming. Veterinary payroll processing can also be unique to your industry. As a veterinarian, you have enough on your mind, so you shouldn’t have to worry about crunching the numbers too. For these reasons, working with a firm that specializes in accounting for veterinary practices can be very beneficial. And also make sure that the firm you select is familiar with the AAHA chart of accounts.

The accountants can worry about the facts and figures. You just focus on keeping those precious pets healthy and happy.

Veterinary Practice Accounting Services

When you work with accountants and CPA‘s who specialize in accounting for veterinary practices, like Schultz & Associates, you can gain peace of mind in knowing that they have your back. Specialty accounting firms recognize benefits and challenges that less experienced firms might not, which may lead to fewer problems and better results.

In our case, these veterinary practice accounting services include:

• General accounting, including but not limited to the following:
  • Equipment purchases
  • Loans
  • Building and land rent
  • General income and expense analysis
  • Reporting, featuring quarterly reports to the practice to allow veterinarians to assess their current standings
  • Accounts payable and receivable 
• Customized tax preparation for each veterinary practice
• Individual income tax preparation and planning, which in many times will blend with facts related to the practice’s records and vice versa
• Consolidation of multiple locations if that’s in the cards for you

Veterinarians like you can rely on our accountants from the first step to the last, starting with tax and accounting needs in relation to the purchase of your practice. Years later, if you decide you want to sell the practice, we can help with accounting-related matters then too.

Veterinary Payroll Processing

Yes, veterinary payroll processing has many similarities to any other industry. But with a service that helps many with veterinary payroll processing, you get added value. What are other practices in your area paying their veterinarians? A experienced veterinary payroll processing service will know the answer. Is your administrative payroll too high? A veterinary payroll processing company can help with that too. And of course they can do everything the large payroll companies can do; but it is just done with a personal touch.

Planning for the Future of Your Practice

In addition to general accounting and tax services, we also serve as an advisory, so we can assist with estate planning and retirement planning. If you decide that it’s time to move on but you still want to keep the practice vibrant, we offer business continuation planning services as well.

Whether you’re hoping to grow your practice, retire, merge with another practice, or sell the practice, we’re here to help. We can work with you to identify financially sound decisions at every stage, as well as track important financial records for reporting purposes throughout the life of your business.

How Schultz & Associates Can Help You

When you’re looking for veterinary practice accounting services, it’s important to look for expertise and experience, as it could make a difference in the end result. You also should find a practice that can provide you with a wide range of personal and business accounting services so that they can keep track of what’s happening year after year.

Schultz & Associates has helped veterinarians throughout southeast Michigan with their tax and accounting needs for decades, so we have the background knowledge necessary to create the most optimal results while avoiding stumbling blocks.

Contact us for more information about tax preparation services and accounting for your veterinary practice. Send one of our accountants a message online or call us to schedule an appointment.