Let’s talk about something we all need to deal with – managing our finances. Specifically, the world of dental EFTs (Electronic Funds Transfers) and how efficient bookkeeping processes can make our lives way easier. This is where having the support of Deposit/ Electronic Funds Transfer Reconciliation can give your practice peace of mind knowing where their money is- all while saving them the valuable time from having to do it themselves. Who has that much time after patient care anyway, right?

What is a dental EFT?

So, what exactly is a dental EFT? Think of it as a fancy way of saying “digital payments.” Dental EFTs are just electronic money transfers between patients, insurance companies, and dental practices. It’s when your patient’s insurance pays you without sending a paper check. It’s faster and more convenient, but it can also be a bit confusing when you’re trying to keep track of everything.

Dental EFTs and bookkeeping benefits

That’s where bookkeeping comes in! Keeping your financial records organized is incredibly important, especially when dealing with potentially dozens of EFTs each day. Here are some of the benefits you’ll enjoy when you’ve got a solid bookkeeping system in place:

Save time and money

Nobody likes spending hours sorting through stacks of paperwork, right? With a good bookkeeping system, you’ll know exactly where your money is coming from and going to. No more lost payments or late fees – you’ll be on top of it all.

Make tax season a breeze

If you’re anything like me, tax season is a complete headache. But with reconciled financial records, you’ll have all the info you need to complete your taxes without breaking a sweat. And who knows, you might even find some expense deductions you didn’t know about!

Stay in control of your cash flow

Understanding your cash flow is crucial for any dental practice. With efficient bookkeeping, you can easily track your dental EFTs and expenses, allowing you to make smarter decisions about your practice’s finances. You’ll know when to invest in new equipment, when to cut costs, and when to celebrate your success with a well-deserved vacation.

Less stress, more focus

Let’s be real, running a dental practice can be pretty stressful on the day-to-day. But with standardized bookkeeping taking care of your finances, you’ll have one less thing to worry about. That means you can focus on what you do best – providing top-notch dental care to your patients.

Keep your practice organized and professional

A clean and organized financial system isn’t just for your benefit. It also shows your patients and staff that you’re serious about “the business of your business”. Plus, it’s a lot easier to build long-lasting relationships when your finances are taken care of.

Outsourcing your bookkeeping processes with a leading platform

The eAssist Dental Accounting and Bookkeeping platform specializes in solutions that work to increase revenue and collections. Our add-on EFT reconciliation balances all funds that are electronically deposited into your account matches what is posted into the practice software. This streamlines your bookkeeping processes by allowing you to effectively categorize and manage deposits and expenses.

Expanding into the next level up is our Deposit/EFT Reconciliation, where your dedicated team will:

Reconcile all income to the office
Verify everything is posted in the software that is deposited into the bank and vice versa
Cover both insurance and patient payments

At eAssist, we understand that the needs of your practice are unique. Whether you need help reconciling EFTs, categorizing expenses, and verifying patient payments, we offer a customizable solution. There are no contracts to sign and there is no obligation when you call. Schedule a consultation below and let’s talk about where you want your practice to go in the future.