Bookkeeping and Accounting for Therapists
Wellness Fi provides bookkeeping for therapists, counselors, and other mental health professionals in private practice. You get a dedicated bookkeeper who knows your practice, plus a dedicated tax advisor when you want year-round tax help. Your books stay current every month, you always know what to set aside for taxes, and you have real people to ask.
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 therapists?
Bookkeeping for therapists is the monthly work of recording, categorizing, and reconciling a therapy practice’s income and expenses. It accounts for things generic bookkeepers often miss: insurance reimbursements that arrive late or short, client payments from practice software, licensing and CEU costs, and quarterly tax set-asides.
Why therapists need a bookkeeper who knows therapy practices
A general bookkeeper can reconcile a bank account. What they usually can’t do is look at a therapy practice and see how it actually earns money. That gap is where the mistakes, and the missed savings, tend to hide. Good bookkeeping for therapists starts with knowing how a therapy practice gets paid.
Here is what makes accounting for therapists different:
A growing therapy practice brings bigger decisions. As your income grows, an S-corp, a reasonable salary, and an accountable plan start to matter. We help you work out whether an S-corp makes sense for your practice using your real numbers.
Therapist Payments
Insurance payments rarely match what you billed. Panels pay late, in batches, and sometimes short. We match deposits against what you billed so a missing payment doesn’t quietly disappear.
Practice software
Your practice software and your bank tell different stories. SimplePractice, TherapyNotes, Jane, and Alma show what you charged. Your bank shows what arrived, often bundled together with fees taken out. We make the two line up.
Taxes
Nobody is withholding your taxes. When you’re self-employed, you pay taxes on your own, usually four times a year. We give you a clear number to set aside every month so April is never a surprise.
practice expenses
Your expenses are specific to your work. Licensing fees, CEUs, clinical supervision, malpractice insurance, telehealth software, and office rent all need to be categorized correctly so they count at tax time.
What’s Included In Our Monthly Accounting Packages
Our bookkeeping & accounting packages gives every therapist or private practice the same foundation, done for you every month.
In plain terms, this is outsourced bookkeeping for therapists: the monthly work leaves your to-do list, and you still see every number.
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?
Add a dedicated tax advisor, year-round tax strategy, and two planning meetings a year. Or add a monthly CFO partner for cash flow, hiring, and growth decisions. We also handle tax preparation and S-corp help when you are ready.
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 Psychologists
Find answers to commonly asked questions about our bookkeeping services for psychologists.
We handle most of the transition. On your consult, we’ll walk through what records to gather, and we’ll coordinate the handoff so there’s no gap in your books or your tax filings.
The basics are the same, but psychology practices usually have more moving parts. Testing and assessment fees, test materials, multiple insurance panels, and income from teaching, supervision, or forensic work all need to be tracked separately. Psychology practices also tend to earn more, which makes tax planning more important.
We track assessment income separately from therapy income so you can see what each part of your practice earns. For insurance, we reconcile what actually landed in your bank account against what you billed, so late or short payments don’t slip past you.
Bookkeeping starts at $218 per month. Your exact price depends on the size of your practice and how many bank and credit card accounts we manage. Tax preparation and S-corp setup are quoted separately. We’ll give you an exact number on a free consult.
Yes. Many psychologists start with monthly bookkeeping and add a dedicated tax advisor, tax return preparation, or S-corp setup when they’re ready. Having your books and your taxes handled by the same team means nothing gets lost between two firms.
A bookkeeper keeps your books accurate every month. A tax professional uses those books to file your returns and plan ahead. Most psychologists in private practice benefit from both. We provide a dedicated bookkeeper and a dedicated tax advisor, so you’re not coordinating between two separate firms. We have licensed CPA’s and Enrolled Agents on our team.
It depends on your income, your state, and your goals. For many established practices, an S-corp can lower self-employment tax, but it adds payroll and compliance work. We’ll look at your real numbers and help you decide whether an S-corp makes sense for your practice.
We use QuickBooks Online or Wave, depending on what fits your practice, and the software is included in your plan. We work alongside practice software like SimplePractice, TherapyNotes, Jane, and Alma.
We work with your financial records, not your clinical records. We don’t need session notes or diagnoses to do your bookkeeping.
Yes. Catch-up bookkeeping is one of the most common reasons psychologists reach out to us. We bring past months current, fix errors, and get you set up to stay current from then on.