Bookkeeping and Accounting for Group Therapy Practices
Wellness 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.
300+ Practices Served
300+ Private Practices Served Across the US
CPA’s & EA’s
CPAs and IRS Enrolled Agents on staff
Done-For-You
Accounting done for you. Not another software you have to manage.
Services
What is bookkeeping for group therapy practices?
Bookkeeping 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.
Why group practices outgrow solo bookkeeping
The 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.
Here is what makes accounting for therapists different:
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.
Payroll and contractor payments.
Some 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.
More insurance deposits, from more clinicians.
Panel 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.
Clinician pay.
Percentage 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.
More than one location.
When 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.
What’s Included In Our Monthly Packages
Our bookkeeping for group therapy practices gives every practice the same foundation, done for you every month:
In plain terms, this is outsourced group therapy practices: the monthly work leaves your to-do list, and you still see every number.
- Monthly bookkeeping and reconciliation of your business bank and credit card accounts
- A monthly Profit and Loss report and balance sheet, so you know exactly what the practice earned and spent
- Payroll runs and contractor payments recorded and reconciled every month
- Quarterly tax estimates for federal and state, plus a clear number to set aside, so April is never a surprise
- A dedicated bookkeeper who knows your practice by name, reachable by email and phone
- Bookkeeping software included. Most group practices run best on QuickBooks Online, and we set it up for you.
- Works alongside your practice software. Many of our clients use SimplePractice, TherapyNotes, Jane, or Alma. We make sure the deposits from your practice software line up with your books.
01
Bookkeeping
Monthly bookkeeping and reconciliation of your business bank and credit card accounts
02
Monthly Financial Reports
A monthly Profit and Loss report, so you know exactly what your practice earned and spent
03
Tax Estimates
Quarterly tax estimates for federal and state, plus a clear number to set aside, so April is never a surprise
04
Personalized Support
A dedicated bookkeeper who knows your practice by name, reachable by email and phone
03
Software Subscription
Bookkeeping software included (QuickBooks Online or Wave, depending on what fits your practice)
06
Practice Software Alignment
Works alongside your practice software. Many of our clients use SimplePractice, TherapyNotes, Jane, or Alma. We make sure the numbers from your practice software line up with your books.
Want more support?
Want more support? Bookkeeping for group practice owners often grows into more. Add a dedicated tax advisor, year-round tax strategy, and two planning meetings a year. Or add a monthly CFO partner for hiring, pricing, and growth decisions. We also handle tax returns and S-corp help for the practice and for you as the owner.
Payroll, contractors, and owner pay
This is where most group owners feel stuck, so here is exactly how it works with us.
Payroll
We don’t run payroll ourselves. We set you up on Gusto, make sure it’s configured correctly, and reconcile every payroll run in your books. You pay the payroll provider directly, and you always know the books match what was paid.
Contractors
If some of your clinicians are 1099 contractors, pay them through Gusto too. We record their payments every month. Gusto files their year-end 1099 forms, and we check those totals against your books before they go out.
Contractors or employees.
This is one of the most common questions group owners ask us. We’ll walk through the tax and cost side of each choice using your real numbers. The final classification is also a legal question, so we’ll point you to an employment attorney when you need one. For more on structuring your team, see our guide to hiring your next clinician.
Owner pay.
Once your practice is an S-corp, you pay yourself a reasonable salary through payroll and take the rest as distributions. We help you set that number so you stay compliant and still get the tax benefit. If you’re not an S-corp yet, we’ll help you work out whether an S-corp makes sense for your practice.
Seeing your numbers by clinician and by location
Most group owners want to know which clinicians, services, and offices actually make money. Here is what we can show you, and what we can’t.
- What your team costs. Clinician pay is recorded the same way every month, so your total team cost is clear on your Profit and Loss report.
- Results by location. We track income and expenses by office in QuickBooks Online, so each location has its own Profit and Loss report.
- Revenue by clinician. That detail lives in your practice software, not your bank account. We don’t pull reports from your practice software directly. On the CFO plan, your CFO partner uses those reports alongside your books to look at margin by clinician.
Want more support?
If you want custom dashboards built from your practice software, that’s an operations project, and it’s outside what we do. We’ll tell you that up front rather than promise something we can’t deliver.
Our Pricing
Flexible pricing & service options.
Quarterly bookkeepings
Quarterly reports
Quarterly tax estimates
For low-volume practices
Most Popular
Monthly bookkeeping
Monthly reports
Dedicated tax advisor
Bi-Annual tax strategy meetings
Everything in full service +
Cash flow planning
Hiring & compensation modeling
Monthly CFO consults
Our Services For Wellness Practices
Our goal with every client: save you twice what our service costs each year.
Bookkeeping
A dedicated bookkeeper reconciles your accounts monthly or quarterly and sends you clear reports. Your books stay tax-ready all year.
Tax Preparation
Business and personal returns, federal and state. We file 1120-S, PLLC, partnership, and individual returns, including multi-state returns for telehealth practices.
S-Corp Setup
We run the numbers to see if an S-corp saves you money. If it does, we file the election, set your reasonable salary, and put an accountable plan in place.
Advisory
A dedicated tax advisor who plans with you all year: deductions, quarterly estimates, your S-corp salary, and two strategy meetings a year. Included in Full Service and CFO plans.
Meet Our Licensed Team
At Wellness Fi, you’re working with a team of licensed professionals that know your business, you & the accounting & tax compliance that matters most.
nicole Brame, ea
IRS Enrolled Agent and Senior Advisor. 7+ years advising practice owners on tax savings.
Sarah Al Haffar, CPA
15+ years in accounting, tax preparation, and tax advisory.
Kathy Presto, EA
IRS Enrolled Agent. 9+ years in tax. Our California tax specialist.
Frequently asked questions about bookkeeping for group therapy practices
Find answers to commonly asked questions about our bookkeeping services for psychologists.
A group practice adds payroll, contractor payments, clinician pay splits, and insurance deposits for several providers. Many also have more than one location. Bookkeeping for group therapy practices records all of that the same way every month, so you can see what your team costs and what the practice keeps.
We record clinician pay the same way every month, so your team costs are clear. We also track income and expenses by location in QuickBooks Online. Revenue by clinician comes from your practice software, and on the CFO plan your CFO partner uses those reports alongside your books to look at margin by clinician.
We don’t run payroll ourselves. We set you up on a payroll provider like Gusto, make sure it’s configured correctly, and reconcile every payroll run in your books. You pay the payroll provider directly.
It depends on how much control you have over their schedule, methods, and caseload. We’ll walk through the tax and cost side of each choice with your real numbers. Because classification is also a legal question, we’ll point you to an employment attorney for the final call.
If your practice is an S-corp, you pay yourself a reasonable salary through payroll and take the rest as distributions. We help you set that salary so you stay compliant and still get the tax benefit. If you’re not an S-corp yet, we’ll help you decide whether it makes sense.
Bookkeeping only is $250 per month. Full Service, which adds a dedicated tax advisor, is $375 per month for growing practices and $445 per month for group practices with $350K or more in revenue. The CFO plan starts at $1,050 per month for group practices. We’ll give you an exact number on a free consult.
Yes. We prepare business and personal returns and offer year-round tax strategy, so the practice return and your own return are handled by the same team. If your clinicians are licensed in other states, we handle those state returns too, at $150 for each additional state.
Yes. Many of our clients use SimplePractice, TherapyNotes, Jane, or Alma. We match the deposits from your practice software to your bank and your books. We don’t build custom dashboards from it, but we make sure your financial reports are accurate.
Yes. That’s what the CFO plan is for. You meet monthly with a CFO partner to look at cash flow, margins, and timing, so you can decide whether you can afford the next clinician or a new office before you commit.
Yes. Catch-up bookkeeping is one of the most common reasons owners reach out to us. We bring past months current, fix errors, and get you set up to stay current from then on. There’s no judgment. Most practices fall behind at some point.