I think we’re still trying to figure it out. You can find all of this at ABMP.com. ABMP says they’re bookkeeping for massage therapists proud to sponsor us, and so we’re going to believe them. There are so many memberships of ABMP.

Best Practices for Naming Your New Massage Business

Keeping accurate records helps you plan for the future. Your reports will show trends in your business, the normal ups and downs, and growth over time. Use these reports to map out when you can afford to upgrade your table, hire a receptionist, or move to a bigger space. CityTouch Licensed Massage Therapy is a private practice providing a broad range of massage therapy services.

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So if you’re mobile, you want to find an option that works better for you mobile. That’s up to you to figure out because that’s how you do things. Maybe upgrade if you feel like you need to or if your tax preparer is bugging you to. The thing that I really like about using an actual software and specifically one that connects to your bank is that you’re not going to miss anything.

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If you have a larger clinic, you may be able to delegate accounting to one of your staff. In either case, you need a system for keeping track of everything, and you need to monitor the numbers.You don’t need to be a math whiz to do your accounting. You also don’t need to invest a lot of time into the task either. There’s software that will do all the math for you. If you use clinic management software, like ClinicSense, you can even automate a lot of your accounting. Two examples of items listed are payments for massage sessions and office supply expenses.

Accounting journal—A record of transactions sorted by date.

Bookkeeping Best Practices For Massage Therapists

• And same thing like when receipts come in.
• For example, you might trade massage services for business consulting or marketing help.
• I drop an email to my tax preparer usually a couple of weeks before any particular quarterly tax is due.
• So in that first or second week, I’m going to just check for a new bank statement.

For example, you may be able to deduct the $2,000 you spent this year on items like creams, oils, lotions, towels, warming equipment, hot stones, or a new table. Things like power, water, and internet services are also legitimate costs of doing business. I have been using this software for several years now it is very easy to use.

And she has written prolifically, I think her book is called Everything Happens And Other Lies I’ve Been Told. And she’s got a really great podcast and she had a guest in October. I’m kind of going through some back episodes. Not that either is bad, not that posting on social media is bad because it can have a good effect, I think.

Bookkeeping for Massage Therapists: 10 Best Practices

As a small business owner, I don’t have a lot of time to spend on bookkeeping, but it’s essential to the success of my business. Outsource-Bookkeeper.com has taken the stress out of bookkeeping for me, providing a cost-effective and reliable solution that allows me to focus on what I do best. Their team is responsive, efficient, and always willing to go the extra mile to help out. General ledger—A record listing transactions (taken from the accounting journal) by account type.

• If you rent a car while away from home on business, only the business-related portion can be deducted.
• With these business structures, earnings from your business are reported on your personal taxes.
• And I’m not a huge fan of that kind of stuff.
• Here are some of the basic rules for these kinds of expenses.
• If you’re looking to audit-proof your massage therapy business and review your finances, we’re the right choice.
• So it gets flagged with a little red flag in my inbox so that I don’t lose it.

A canceled check or credit card statement will suffice. Receipts and written evidence, such as logs and notes in your appointment book, are also acceptable. Make a point of recording this information at or about the time of the transaction, and include all relevant information. Well, hey, as a reminder, our website is massagebusinessblueprint.com. All the stuff we talk about you can find there first, including our Blueprint Mastermind community.