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Navigating the Love-Hate Relationship with Bookkeeping: Therapists and the Financial Maze

Dear Dangerously in Love with Finance,

I am a licensed professional counselor (LPC) who owns a mental health practice in Washington; I have a total of 4 mental health therapists within my practice. As a business owner, I know that I need to learn how to navigate the financial aspects of my business; I read all the books and everything else, but still, I wouldn’t say I like all the finance, bookkeeping, and accounting tasks. How do I find enjoyment and move past this?

Sincerely,
Finding Enjoyment

Hi Finding Enjoyment,

Finance, bookkeeping, and accounting are not subjects that licensed professional counselors and other therapists discuss during lunch. Why ruin lunch with such a boring topic? Who needs that?

Let me share some tips:

Acknowledge Your Feelings: It is okay to say that as a licensed professional counselor, finance, bookkeeping, and accounting are not your jam. Now you know!!!

The question now is, what do you do next?

Look for assistance: Get you an accounting firm specializing in bookkeeping for therapists. Call us (JS) – this is what we do! On a serious note – since this is not your jam, outsource these tasks, but please know that you still need to understand the financial side of your business.

Invest in education: While you may not have pursued a career in bookkeeping, accounting, and finance, acquiring essential knowledge and skills in financial management can empower you to better understand and oversee the financial health of your private practice.

Utilize technology: Tech can simplify your finance, bookkeeping, and accounting tasks. Many accounting and bookkeeping programs and apps are easy to use.

While the financial side of being a licensed therapist may not be your favorite aspect of the job, it’s a crucial component of running a successful practice.
Please call us; we will be more than happy to help you. As this is what we do…


Hope this helps….

– Lozelle Mathai

Your Health, Wellness, & Fitness Accountant

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