{"id":8371,"date":"2026-10-16T18:30:29","date_gmt":"2026-10-16T23:30:29","guid":{"rendered":"https:\/\/wellnessfi.com\/staging3\/?page_id=8371"},"modified":"2026-10-19T16:26:25","modified_gmt":"2026-10-19T21:26:25","slug":"bookkeeping-for-group-practices","status":"publish","type":"page","link":"https:\/\/wellnessfi.com\/staging3\/bookkeeping-for-group-practices\/","title":{"rendered":"Group Practices"},"content":{"rendered":"
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\n\t\tBookkeeping and Accounting for Group Therapy Practices\t<\/h1>\n\n\n\t

\n\t\tWellness Fi provides bookkeeping for group therapy practices, from the owner who just hired a first associate to practices with several clinicians and more than one office. You get a dedicated bookkeeper and a dedicated tax advisor who work only with mental health practices. When you want help with hiring, pricing, and growth decisions, you can add a monthly CFO partner.\t<\/p>\n\n\n

\n\t\n\nSee All Services & Pricing<\/span><\/a>\n\n\n\nBook a free consult<\/span><\/a>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n\n
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\n\t\t300+ Practices Served\t<\/h3>\n\n\n\t

\n\t\t300+ Private Practices Served Across the US\t<\/p>\n\n<\/div>\n\n\n

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\n\t\tCPA’s & EA’s\t<\/h3>\n\n\n\t

\n\t\tCPAs and IRS Enrolled Agents on staff\t<\/p>\n\n<\/div>\n\n\n

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\n\t\tDone-For-You\t<\/h3>\n\n\n\t

\n\t\tAccounting done for you. Not another software you have to manage.\t<\/p>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n\n

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\n\t\tWhat is bookkeeping for group therapy practices?\t<\/h2>\n\n\n
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\n\t\tBookkeeping for group therapy practices is the monthly work of recording and reconciling a multi-clinician practice’s income and expenses. It covers what a solo practice never deals with: payroll and contractor payments, clinician pay splits, insurance deposits for several providers, and reporting by location.\t<\/p>\n\n<\/div>\n\n\n

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\n\t\tWhy group practices outgrow solo bookkeeping
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\n\t\tThe system that worked when it was just you usually starts to break around the first or second hire. Good group therapy practice accounting starts with knowing how a team-based practice earns and spends money. Here is what changes, and what we handle.\t<\/p>\n\n\n\n

Here is what makes accounting for therapists different:<\/h3>\n\n\n\n

A group practice usually means higher profits, an S-corp, and real questions about how the owner gets paid. Your tax advisor helps you plan for it during the year, not after the fact.<\/p>\n\n\n\n

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\n\t\tPayroll and contractor payments.\t<\/h5>\n\n\n\t

\n\t\tSome practices pay clinicians as W-2 employees, some as 1099 contractors, and many use a mix. Each is recorded differently and comes with its own tax forms. We make sure every payroll run and every contractor payment lands in your books correctly.\t<\/p>\n\n<\/div>\n\n\n

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\n\t\tMore insurance deposits, from more clinicians.\t<\/h5>\n\n\n\t

\n\t\tPanel payments for several providers arrive late, in batches, and sometimes short. We match what actually lands in your bank against what was billed, so a missing payment doesn’t quietly disappear.\t<\/p>\n\n<\/div>\n\n\n

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\n\t\tClinician pay.\t<\/h5>\n\n\n\t

\n\t\tPercentage splits, per-session rates, and salaries all show up in your books in different ways. We record clinician pay the same way every month, so you can see what your team really costs.\t<\/p>\n\n<\/div>\n\n\n

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\n\t\tMore than one location.\t<\/h5>\n\n\n\t

\n\t\tWhen you open a second office, you need to know whether each one carries its own weight. We set up location tracking in QuickBooks Online so your books show income and expenses for each office.\t<\/p>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n\n\n

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\n\t\tWhat’s Included In Our Monthly Packages\t<\/h2>\n\n\n\n

Our bookkeeping for group therapy practices gives every practice the same foundation, done for you every month:<\/p>\n\n\n\n

In plain terms, this is outsourced group therapy practices: the monthly work leaves your to-do list, and you still see every number.<\/p>\n\n\n\n