Part 8: Managing Costs and Accounting
In the previous chapter, you read about how to keep money coming into your new dental practice. However, keeping costs under control and maintaining accurate accounts of all transactions are just as important to your business success as bringing in that revenue. In this section of the book, you can learn about how to predict your costs and gain some control over them. You can also find out about general accounting practices and what you need to know to be prepared at tax time.
This is the nitty-gritty side of business, and it is one thing among the many that your dental school probably never bothered to teach you anything about. It is all a part of the numbers game dentists must play if they want to survive in the business world. With the right accountant, you can keep your bottom line intact and advance your business farther than you may have ever dreamed possible. Accounting and cost cutting are not glamorous topics, but they are subjects every dentist needs to be familiar with before, during and after startup of a new dental practice.