Turn Monthly Bookkeeping Into a 30-Minute Routine
A repeatable monthly routine for reconciling accounts, tracking income, and catching denials before they pile up.
Payer mix, EOBs, chargebacks, and contractor payments make medical practice bookkeeping messier than most small businesses. This is the same six-part routine that keeps it from piling up: banking and cash flow, income tracking, expense management, payroll and contractors, financial reporting, and practice operations.
1 Banking & Cash Flow
2 Income Tracking
3 Expense Management
4 Payroll & Contractors
5 Financial Reporting
6 Practice Operations
Bookkeeping needs vary from practice to practice. Payer mix, payroll setup, and entity structure all affect how your numbers should be handled — use this as a starter workflow, then fine-tune it with your accountant.
Questions we get a lot
Monthly, at minimum. With multiple payers, EOBs, chargebacks, and contractor payments moving through the books, a monthly reconciliation catches mismatches while the details are still easy to trace back to a specific claim or transaction.
An EOB (Explanation of Benefits) is the payer’s breakdown of what was billed, covered, and owed for a claim. An EFT (Electronic Funds Transfer) is the actual deposit. Matching the two confirms the amount that hit your bank account matches what the payer said they’d pay.
30 days is a common threshold. Claims that go unpaid past that point are worth flagging for follow-up before they age further and become harder to collect or resolve with the payer.
A profit and loss statement, unexpected spikes in top expenses, cash-flow projections for the next 30–60 days, and owner draws or distributions recorded correctly rather than lumped in with regular expenses.
Bookkeeping is easier as a habit than a project.
If your books keep piling up between visits to your accountant, we can help you build a monthly routine that actually holds.
Disclaimer: This checklist is for informational purposes only and does not constitute legal, tax, or financial advice. While we make every effort to keep the content accurate and up to date, federal and state laws and regulations can change without notice. Decisions based on this information should be made in consultation with a licensed CPA or attorney familiar with your specific situation. Leichter Accounting Services is not liable for any errors or omissions, or for any actions taken based on the contents of this checklist.