Tooth & Coin helps dentists reclaim time and clarity with accounting for dentists that’s built for real life. If the goal is to finish the year clean and start the next one strong, this friendly checklist will keep the numbers—and the team—on track.
Why a Year-End Close Matters
A proper close answers two big questions: “Did the practice make money?” and “Where did it go?” Tooth & Coin’s customized Practice Reports show exactly that, so owners can make better, more confident decisions. With cloud access and automated processes, dentists can see up-to-date figures anywhere with an internet connection.
Step 1: Clean Up the Books
Start by organizing bank and credit card activity. Make sure transactions are categorized and reconciled so balances match real-world statements. If the books feel messy, Tooth & Coin’s CPAs can step in and tidy things up—then keep them that way with ongoing automation.
Step 2: Confirm Production, Collections, and Adjustments
Before closing, verify that all production and collections for the year are recorded in the accounting system. Check for write-offs and adjustments to ensure revenue accurately reflects the actual financial situation. Accurate numbers now mean better decisions later, and Tooth & Coin’s enhanced reporting makes these trends easy to spot.
Step 3: Review Expenses with a Sharp Eye
Scan spending on supplies, labs, software, rent, and marketing. Look for subscriptions that no longer provide value. Group similar costs so you can see where money is going and where the margin can be improved. A clear chart of expenses keeps everyone aligned.
Step 4: Lock In Equipment and Build-Out Records
Ensure that large purchases and improvements are accurately captured. This sets the stage for effective tax planning and ensures your reports are accurate and honest. Tooth & Coin updates its software at least every two weeks, so big purchases don’t fall through the cracks.
Step 5: Finalize Payroll and Owner Pay
Confirm payroll totals, benefits, and bonuses. Verify that owner draws or distributions are labeled correctly. Clean payroll records reduce confusion and support a smooth handoff into the new year.
Step 6: Run Year-End Reports and Set Targets
Pull the key reports that matter to a dental practice—profit and loss, balance sheet, and cash flow. Compare months, spot patterns, and set simple targets for the first quarter. Tooth & Coin’s dedicated Account Manager can walk through the numbers and answer questions, because education is part of the service.
How Tooth & Coin Makes This Easier
Business is complicated. Tooth & Coin isn’t. With automated accounting, enhanced reporting, and a team of CPAs backed by a dedicated Account Manager, clients often regain up to 20 hours per month—time they can spend growing their practice or serving patients. The result is clean, close, reliable data and a confident plan for January and beyond.
Ready to Finish Strong?
If your books feel chaotic or you’re unsure about profitability, it’s time to make year-end simple. Book a consultation with Tooth & Coin and reclaim your time. They’ll run the numbers—you run your practice. That’s accounting for dentists done right.
