Bookkeeping and Accounting for Naturopathic Doctors

Are you a naturopathic doctor seeking a bookkeeper and accountant? We handle your books, so you can devote more time to your patients and practice. Try us for free.

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How Bench works with naturopathic doctors

Experience seamless bookkeeping, income tax prep, and filing handled by professionals—supported by a robust platform. Bench collaborates with Naturopathic Doctors.

We get you set up

Our team patiently takes the time to thoroughly comprehend your naturopathic practice, answer all your queries, assist you in connecting your accounts, and guide you through how Bench operates.

We do your bookkeeping

Every month, your dedicated bookkeeper organizes your naturopathy clinic's transactions, compiling them into comprehensive financial statements. If they require any further information from you, they’ll promptly get in touch.

We deliver tax-ready financials

Our team of specialists is well-versed in the tax requirements associated with Naturopathic practices and will adapt their strategy to your clinic's individual necessities.

Here’s why naturopathic doctors like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We'll consistently provide you with updates on your bookkeeping. A pressing question arises that simply can't wait? You can count on us to respond within one business day or even less, ensuring your naturopathic practice keeps running smoothly.

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Guaranteed accuracy in every detail

Our platform is streamlined to automate data inputs from a majority of key providers, preventing frequent errors. We collaborate with merchants such as Gusto, Stripe, Shopify, and Square—ensuring your finances are accurate at all times, allowing Naturopathic Doctors like you to focus more on patient care.

See where you’re spending. Make smart decisions

Say adieu to overflowing files and laborious manual record-keeping—our system automates entries directly from your connected accounts. From a single interface, gain insights that guide you in understanding the vitality of your Naturopathic practice and in making informed strategic decisions.

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Bench integrates with your favorite small business tools

We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.

Trusted by 25,000+ American small business owners

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for naturopathic doctors

Bench Accounting recognizes the particular challenges naturopathic doctors face when it comes to taxes and bookkeeping. Given the tenuous legal status of naturopathic medicines across different states, it can be difficult to assess the tax obligations your practice might carry. Furthermore, with varying laws surrounding medicinal licensing, subscription services, and over-the-counter product sales, your bookkeeping needs are uniquely complex. That's where Bench comes in.

Our dedicated bookkeepers, paired with our intuitive software, are trained to handle such nuances. To start, we’ll help to streamline your cash flow and bring to light income and expense categories that are often overlooked in your profession, such as supplier costs, healthcare specific write-offs, and licensing costs. Bench can also help make sense of complicated tax codes, managing your bookkeeping in a way that optimizes tax deductions and keeps you compliant with laws linked to your profession. In short, Bench seamlessly takes care of your bookkeeping and tax needs, letting you focus more on your patients, and less on paperwork.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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As a naturopathic doctor, what tax deductions are specific to my practice that I should be aware of?

As a naturopathic doctor, there are several tax deductions that are specific to your practice. Some of these include:

  • Medical Equipment: This includes everything you use in your practice, from exam tables and diagnostic equipment to smaller items like stethoscopes and otoscopes.
  • Supplies and Medication: Any supplies or medication you purchase for your patients are deductible. This could include everything from bandages and needles to the very specialized natural remedies.
  • Office Space: If you rent or own an office for your practice, this is tax-deductible. This may also include utilities and maintenance costs.
  • Continuing Education: The costs associated with seminars, classes, and other educational opportunities you attend to keep current in your field can be deducted.
  • Professional Fees: This includes fees you pay for licensing, membership in professional organizations, and malpractice insurance.
  • Office furniture and improving office space: Any capital expenses that are business related can be deducted over time through depreciation.

Bench Accounting can help you understand and organize these potential deductions to make your tax process quicker, easier, and more beneficial to you.

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How should I manage my accounting if I sell both services and natural health products as a part of my naturopathic practice?

Managing the accounting for a naturopathic practice that involves selling both services and health products requires strategic organization. Start by keeping separate records for service and product sales, allowing you to see precisely where your income is coming from. This can also help identify which areas are most profitable, assisting with future business planning.

Remember to track all your expenses, both related to service provision and product purchases, to understand your outgoing cash flow. One essential aspect of managing accounting for this type of business is understanding the different tax implications for services and products, as they are typically treated differently under various tax codes.

Given the unique blend of services and retail, it can be beneficial to enlist the help of a professional bookkeeper. A bookkeeper familiar with the naturopathy industry could save your business money, ensure compliance, and provide valuable insights for growth. At Bench Accounting, we offer experienced bookkeepers who can manage your finances with precision and care.

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What kind of financial tracking is necessary for managing insurance billing in my naturopathic clinic?

To effectively manage insurance billing in your naturopathic clinic, you need to have clear and precise financial tracking. This includes:

  • Tracking each patient interaction, from services rendered, which are billable, and the charge for each service.
  • Recording insurance claims, including filed, pending, approved, and disapproved.
  • Tracking payments received against invoices sent, identifying discrepancies and ensuring timely follow-up.
  • Managing accounts receivable. This includes pursuing unpaid insurance claims and promptly responding to billing inquiries.
  • Monitoring financial health through regular reporting and analysis to find inefficiencies and identify opportunities for improvement.

All of this requires thorough bookkeeping. We at Bench Accounting can provide comprehensive bookkeeping services to make managing your naturopathic clinic's finances less stressful and more effective.

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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

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How much time each month will I have to spend managing my Bench account?

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.

Bookkeeping Services for Naturopathic Doctors

Sign up for a Bench trial, and get one month free. If you decide to go with us, we’ll take bookkeeping off your plate—for good.

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