How Long Should I Keep My Returns?
You should keep your returns until the statute of limitations runs for filing returns or filing for a refund. For most taxpayers, that means keeping those records generally a minimum of three years following the date of filing or the due date of your tax return, whichever is later. In addition to the returns, keep […]
Why Some Practices Struggle?
In the beginning, there was an idea, a vision, a goal. Start a practice, be your own boss, work flexible hours and most importantly, do what you love to do and what you believe in. The beginnings are so sweet, full of passion and determination. However, according to statistics published by the Small Business Administration, […]
The Choice Every Veterinary Practice Owner Should Own
Name one person in vet school who said practicing veterinary medicine would be easy. After all, being an awesome doctor and practice manager are incredibly different skills. What makes your clinic or hospital different? Unfortunately mirroring the veterinarian down the street, whether intentionally or not, it something we see a lot! I hope you had […]
The Power of Team
You might recall a blog I wrote a few months ago encouraging you not to become a buggy whip. One of the points I was trying to make deal with how technology was changing the ‘way we work and the adverse effects of doing things “the way we have always done them”. In continuing with […]
Don’t Become a Buggy Whip
Just the other day, I read that a major national retail chain had declared chapter 11 bankruptcy. How could a once thriving company potentially become extinct? While I don’t know the specific details, perhaps it was because they continue using an all but dead business model. This company sells and rents music, movies, games, and other entertainment through […]
Why Use Xero in Your Veterinary Practice?
Why do we use Xero for our own company and also recommend it to our client’s for online accounting? Here are a few of the reasons. Xero is very user-friendly and is simply better,faster, and smarter. The Xero bank reconciliation is simple and efficient, it has an approval system for invoices and bills and offers features that […]
Xerocon: Cloud-based accounting is not happening, it already HAPPENED.
Last week we visited Xerocon in San Francisco. The only thing that didn’t surprise us was the cold weather. LOL! Xero is a cloud-based accounting software alternative to QBO (QuickBooks Online). Why would I want my books in the cloud? – It will give you unlimited access. If there is the internet, there is Xero. You can sit […]
Three Signs Your Practice Is In Trouble
Unfortunately, many business owners don’t know how to read financial statements or even why they have them. Yup, they are in your drawer, somewhere…next to the trash can… (In the trash can)…but certainly out of sight, out of mind; just in case the banker asks to see them. Face it, people who are looking at […]
Pet Insurance Can Bring 52% Increase in Revenue
In the United States, less than 1% of pets are covered by pet insurance. Apparently, not many pet owners are convinced that their healthy puppy will need a surgery one day or extensive care, which they might not be able to afford. As a veterinarian, this should be a no-brainer. So why not help your customer’s bank account […]
Happy Employee = Productive Employee
Ideas to make your practice run smoother and happier.