Month: May 2023

Burnout Within the Dental Practice | Dental Accounting

Burnout Within the Dental Practice

Dentistry can be an overwhelming and stressful career, to the point where it can actually affect your productivity. Dental burnout is common among both dentists and their teams. Learn how to recognize the signs of burnout and how to manage it before it begins to significantly impact you and your dental practice. 

Identify Signs of Dental Burnout

Feeling bored, tired, or finding it hard to concentrate are all signs that you are beginning to burn out. You may also notice that your team is beginning to lack the signs of enthusiasm that they once displayed. As soon as you begin to notice these things occurring, it is important to take action immediately. Don’t allow a temporary period of burnout to negate the countless hours of work and money that you put into your education and career. Instead, begin to look for ways to peak your interest again. 

Identify the Problem Areas

When production numbers begin to take a dip, identify the area that is being affected. A dental CPA can help you analyze your numbers to see where things are falling. When the production numbers in the practice start to fall, team morale can be greatly affected. By identifying these areas promptly, things can be adjusted or fixed before the dissatisfaction in the office increases to a point of no return. 

Identify New Areas to Explore

Learning a new skill or attending a convention/seminar are ways to bring excitement back into the workplace. Sign up for a CE course on a subject that interests you. Join a local study club to meet new peers. By expanding your skills, you can increase the number of services you provide which can help bring in new patients or boost production. To get the team involved, select a course that everyone can participate in or look into team building activities. This will greatly help improve team morale. 
Burnout will most likely happen to everyone at some point during their career. Being proactive and identifying signs of burnout early on is the best way to get you and your team back on track. If you feel you may be experiencing burnout, contact a dental CPA with Schiff & Associates, LLC to help determine areas of opportunity that are available in your practice.

5 Common Dental Payroll Mistakes | Best Dental CPA

Handling payroll for a dental office can be more complicated than many people think. There are many minor errors that can lead to major payroll mistakes. One of the best things that you can do is train your team to catch these errors before they become bigger issues. We’ve listed the five most common payroll mistakes that can be easily avoided. 

  1. Paying employees the wrong rates

Immediately after a team member is hired, given a raise, or there is any kind of adjustment in pay, make sure that the pay is correctly logged into your system. Using an hourly wage to pay as salary in a program can create rounding errors. Always be sure to double check the pay rates. Manual error can lead to owing back-pay, among other future issues. 

  1.  Not tracking bonuses or gifts

Bonuses or gifts that have monetary value need to be closely tracked. Gifts like a gift card or Apple watch are often overlooked. Please be sure to keep a log of gifts and bonuses for year-end/tax purposes. 

  1. Estimated recordkeeping 

Don’t procrastinate on logging shifts worked for a pay period. Days can often blend together and the longer that you wait, the harder that it is to recall which days team members worked, left early, etc. Having to go back and review notes and e-mails regarding shifts can be time consuming and stressful, and can lead to incorrect pay. 

  1. Holidays or haphazard payroll 

Make an effort to set a fixed schedule for payroll. Have a plan for dealing with holidays that affect the normal payroll schedule. Missing or late payroll can cost your business in the long run by incurring penalties or creating tax headaches. It can also make it harder for team members that depend on the money. 

  1. Misclassification of Employees

There are a number of differences between an employee and a contractor on both the state and federal levels. Make sure you classify your team members and any temporary team members correctly to ensure an accurate and smooth process. Misclassifying an employee can cost you heavy penalties. 

Payroll can be an uncomplicated process if the correct protocols are followed. Follow a strict system, don’t procrastinate, and fix any mistakes as soon as possible. Contact our office with any questions or concerns in regards to payroll and taxes.