Top Bookkeeping Mistakes Medical Clinics Make (and How to Avoid Them)
Medical practices face complex billing, payroll, and vendor relationships-and bookkeeping often takes a back seat. But small mistakes add up quickly. Here are the top financial mistakes we see in healthcare clinics-and how to fix them.
Download Our Free Brochure →1. Recording Billed Revenue Instead of Received Revenue
Many clinics use reports from their EHR system that show charges-but forget to match them to actual deposits. This results in overstated income and a misleading P&L.
Fix: Only record income once it’s deposited. Use clearing accounts to track insurance receivables separately.
2. Not Tracking Vendor and Supply Costs Separately
Generic “Office Expense” categories hide what you’re really spending on medical supplies, cleaning, or labs.
Fix: Create separate accounts for medical consumables, PPE, and services like diagnostics.
3. Missing Payroll Reconciliation
Payroll journals aren’t entered or verified each pay cycle, causing inaccurate expense reporting and 941 mismatches.
Download Our Free Brochure →Fix: Reconcile payroll reports monthly and categorize wages, benefits, and taxes separately.
4. Ignoring Funded Equipment or Loans
Medical equipment purchases through financing are often expensed incorrectly instead of tracked as fixed assets.
Fix: Record assets properly and track loan balances with correct amortization.
Test Case
An urgent care clinic had 18 months of miscoded equipment and improperly booked deposits. We:
- Reclassified over $150K in medical equipment
- Rebuilt payroll expense summaries across 6 providers
- Delivered year-to-date reports that aligned with lender requirements
Don’t let small errors become costly. See how our healthcare bookkeeping services keep clinics compliant and accurate.
Healthcare Clinic Bookkeeping Services Across States
Healthcare Clinic Bookkeeping Services Across Key ZIPs
FAQs
What’s the most common financial mistake small clinics make?
Overstating income by recording charges instead of deposits.
Can you clean up past financials if we’ve made errors?
Yes. We offer historical cleanup and catch-up reconciliation.
Do you help categorize expenses more clearly?
Yes. We help build a customized chart of accounts for your practice.
Fix mistakes. Stay compliant. Run your practice with confidence.
