Julie Herres on Using Profit First in Your Practice

https://is1-ssl.mzstatic.com/image/thumb/Podcasts115/v4/15/c2/ee/15c2ee76-14fb-2cfa-7957-14ac93b41931/mza_16512658605559305530.png/600x600bb.jpg

Practice of the Practice: Faith in Practice Podcast

Whitney Owens with Practice of the Practice Network

147 episodes

3 days ago

Whitney Owens is a licensed professional counselor and owns a growing group practice in Savannah, Georgia. Along with a wealth of experience managing a practice, Whitney has an extensive history working in a variety of clinical and religious settings, allowing her to specialize in consulting for faith-based practices and those wanting to connect with religious organizations.

All content for Practice of the Practice: Faith in Practice Podcast is the property of Whitney Owens with Practice of the Practice Network and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Julie Herres on Using Profit First in Your Practice | FP 131

Practice of the Practice: Faith in Practice Podcast

25 minutes 35 seconds

3 years ago

Julie Herres on Using Profit First in Your Practice | FP 131

Do you enjoy or dread managing your practice’s books? When should you work with a financial professional about your taxes? How can you use the Profit First principles to manage your money better?
In this podcast episode, Whitney Owens speaks with Julie Herres about using Profit First in your practice.
Podcast Sponsor: Therapy Notes

Is managing your practice stressing you out? Try TherapyNotes! It makes notes, billing, scheduling, and telehealth a whole lot easier.
Check it out and you will quickly see why TherapyNotes is the highest-rated EHR on TrustPilot with over 1000 verified customer reviews and an average customer rating of 4.9/5 stars.
You’ll notice the difference from the first day you sign up for a trial. They offer live phone support 7 days a week, so when you have questions, you can quickly reach someone who can help, and you are never wasting your time looking for answers.
If you are coming from another EHR, they make the transition really easy. TherapyNotes will import your clients’ demographic data free of charge during your trial so you can get going right away.
Use promo code ‘JOE’ to get three free months to try out TherapyNotes, no strings attached, and remember, telehealth is included with every subscription free. Make 2022 the best year yet with TherapyNotes.
Meet Julie Herres

Julie Herres is an accountant and the owner of GreenOak Accounting – a firm that specializes in working with therapists, psychologists, and counselors in private practice. GreenOak Accounting offers bookkeeping, tax, and CFO services to their clients as well as Profit First implementation and support.
Julie is also the host of the Therapy for Your Money podcast, where she discusses topics like increasing profitability, team compensation, tax tips, budgeting, planning for retirement, and much more.
Visit GreenOak Accounting and connect with them on Instagram and LinkedIn.
FREEBIE: Check out the FREE GreenOak Accounting course on the Financial Stages of Private Practice!

In This Podcast

* Money tips for new solo practice owners
* Managing the money of a mid-sized practice
* The Profit First principles
* Julie’s advice to Christian counselors

Money tips for new solo practice owners
Even though it is standard to bootstrap expenses at the beginning of any new business venture, it is still recommended to work with a financial professional, especially at the beginning of tax season.
You don’t know what you don’t know. There’s a lot of complexity to taxes when you have a business, so at the very minimum, I recommend [working with a financial professional]. (Julie Herres)
In some cases, practice owners enjoy doing their bookkeeping as a hobby and also as a way to save money.
However, if you do not have the time or the energy to deal with the books, a specialist at Green Oak Accounting can take that over for you as well.
Payroll adds a new level of complications. There are a lot of little things that can go wrong … [and]...