This Business of Therapy

Tag: practice accounts

  • How Well is Your Practice Performing?

    How do you know you’re earning enough to pay your bills? You may remember that this was a question I addressed some weeks ago, when I showed you how to calculate the Break Even Point for your practice. (You can read the article here.) Calculating the Break Even Point gives you an idea of the…

  • Managing Your Personal Cash Flow

    I’ve written before on the subject of cash flow management, but it’s so important that it’s worth writing about again. The work in a therapy practice can come and go, sometimes with little warning, so it helps to have some strategies in place to help to manage your own finances. Here are a few tips…

  • 7 Tips to Manage Your Cash Flow

    Cash flow is the term used for the ins and outs of money in your practice. It’s important to manage it so that you don’t end up at the end of the month with no money to pay the rent, or put petrol in the car. Income in a therapy or counselling practice can be…

  • Fee Negotiations: What’s Your Style?

    How do you manage the question of fee negotiations? You have a price and you stick to it, regardless? You have a range of prices, and you offer what you think the client can pay? You have a range of prices, and you let the client decide what they can afford? You have an upper…

  • How to Work Out Therapy Fee Rates?

    In another post, (see here) I outlined the factors that you need to consider in arriving at a fee rate, and also what a budget looks like (see here). Here’s an example of how to work the figures. Start with what you want to earn. Let’s say for this example, you want to earn €500…

  • The Value of Bean Counting (Or Now’s a Good Time to do a Budget)

    Do you have a sat nav machine in your car? I love mine. Kate (the name of the voice that guides me to where I want to go) is patient, polite, and always helpful. She is completely unflappable, even when I ignore her instructions. She just gives me new ones in her calm, measured way.…

  • More About Accounts – Balance Sheet

    What’s a Balance Sheet? A Balance Sheet is a statement of the assets and liabilities of a business or entity at a point in time, expressed in money. Assets are things owned by the business. Liabilities are things owed by the business. Although the contents and layout may vary according to the size and nature…