Most Medical Clinics nowadays use the latest computer software to optimize their finances. The most popular is QuickBooks. This is a program that integrates most of your accounting operations, from billing to payroll. As a physician’s assistant, QuickBooks is a tool you must master to succeed. This is how it works and why you need to learn it to work as a doctor’s assistant.
What do you mean by QuickBooks?
Launched by software giant Intuit in 1992, QuickBooks is an all-in-one accounting solution for small and medium-sized businesses. Used in clinics to simplify the accounting process and track this data to monitor the financial health of the practice.
All the information which is entered into the system can be used to complete a variety of tasks, from invoicing and inventory management to payment and expense tracking. With just a few clicks, your accounting will be reconciled each month, and at the end of the year, your practice will have all the information your tax return needs.
Nowadays, most hospitals have started using QuickBooks Software which has increased their accounting functionality. Due to the adoption of QuickBooks Hosting, a medical professional can easily access their data from anywhere including traveling to a medical emergency in any part of the world. Furthermore, with the QuickBooks Hosting service provider, users don’t have to worry about manually setting up the application. The service provider can assist and guide them through the entire process and ensure their data remains safe and secure in the cloud.
How Medical Office Assistant uses QuickBooks?
QuickBooks helps Physician Assistants manage their practice’s financial commitments and increase profitability. As a medical assistant, you may not use all of your advanced skills, but you will use many of your advanced skills based on the job description to perform such duties.
Creating Invoices:
QuickBooks tracks all charges and payments to patient accounts. When the patient checks in, an open invoice is generated from the data you entered. When the patient is discharged from the hospital, the recorded payment is debited from the account, so you can always inform the patient about the delinquent payment. If an insurance reimbursement later becomes a credit, QuickBooks tracks that as well, allowing you to mail a check to the patient at the end of the month.
Inventory tracking:
Medical assistants are often responsible for ordering supplies. QuickBooks makes it easy to track your inventory in real-time.
For illustration, when a patient checks out after removing stitches, the stitch removal kit is automatically deducted from the inventory. You can observe critical supply levels from a central dashboard. QuickBooks informs you when quantities are low so you can reorder without time-consuming manual counting.
Smooth Financial Reports:
Accounting software hosting on the cloud helps you access financial data in real time with ease regardless of your location. Using Azure Virtual Desktop provided by your service provider, it is a hassle-free process to acquire this information quickly and reliably. For example, a doctor can see which services offered are profitable and which are not and keep track of them from anywhere while traveling around the world.
Conclusion:
Running a medical practice can be challenging and proper financial management is a crucial part of it. QuickBooks hosting can help streamline accounting processes and make cash flow management smoother for the right users.
Opting for an Intuit-certified QuickBooks provider such as Apps4rent has many benefits. It offers a range of hosting and migration services, plus auto-updates, frequent backups, and uninterrupted remote access. All these features make it an ideal solution for your business.