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Dental payments

Dental payments in QuickBooks: a clean monthly close

Record daily collections from your practice-management system into a clearing account, record processing fees as an expense, and match deposits to clear the account. At month-end the clearing balance should equal only payments in transit.

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Estimates only. Results vary. No guarantee of approval, rates or savings.

A simple account map

  • Patient collections → income (from the day sheet, by payment type)
  • Card payments → clearing account until deposited
  • Processing fees → merchant fees expense
  • Refunds → contra-income or refunds account
  • Patient financing deposits → recorded net of the financing fee

Proof of close

Each month, keep a one-page summary: practice-management collections, processor settlements, bank deposits, clearing balance and a list of open exceptions. Your accountant will thank you.

Run the numbers

Blue = you enterGreen = calculatedGray = assumptionAmber/red = check this
$
$

All fees on the statement.

$
$
$
hrs
$

All-in collections cost / month

$8,350.00

Card effective rate

2.60%

Broader cost ÷ card volume

3.34%

Software

$850.00

Staff time

$1,000.00

About $100,200 a year to get paid.

The card effective rate and the broader ratio are different measures — the broader one includes non-card work, so don't compare it to a processor's quoted rate. Uses only your numbers; no vendor pricing assumed.

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Estimates only. Results vary. No guarantee of approval, rates or savings.

Estimates only. Results vary. No guarantee of approval, rates or savings.

Talk with a payments specialist

Common questions

Should we record each card payment in QuickBooks?

Usually not. Record daily or batch totals from the practice-management system; keep patient detail there.