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Accounting
Designed to meet the needs of the busy professional,
PMC’s accounting services promote effective decision-making
and goal achievement through comprehensive financial
reporting. Our accounting services include
- Monthly financial statement
specifically organized to evaluate the income and
expenses specific to the medical practice industry.
- Monthly profit and loss
statement including year-to-date and prior year
comparisons
- Balance sheet documenting all
assets and liabilities, as well as owner’s equity
- Subsidiary financial
statements customized to the needs of your practice
- Customized statement design to
evaluate operational effectiveness, non-operating
income specific to the medical industry, and
professional compensation.
- Independent reconciliation of
business bank accounts – an important control feature.
- Monthly trending of accounts
receivable performance, including key indicators for
monitoring and comparison to target data.
- Complete general ledger
information
- Customized statements for
allocation of income among physicians, with provision
for:
- Allocation of income and
expense based on allocation formulas individually
designed for your practice.
- Planning and accruals for
once-per-year expenses such as retirement plan
contributions, or disallowed meals & entertainment
expenses
- New physician owner buy-in adjustments
- Payroll accounting summary -
including employee gross pay, net pay and payroll tax
deductions
Payroll and Accounts Payable Processing
PMC also offers complete payroll processing services.
Unlike canned, cookie cutter payroll solutions where you
speak with a different representative for each and every
question you may have, at PMC you will have one primary
contact to address your payroll needs. We monitor
your activity for compliance with wage and hour laws, and
suggest alternatives for addressing deductions, tax
withholding, etc. Your payroll information is automatically
integrated with your monthly financial performance
statements. Live paychecks are delivered to your door or
paychecks are deposited electronically to your employees'
bank accounts, on time every time. This service can relieve
pressure on your staff and eliminate the risk of costly
payroll tax penalties.
Other highlights of our payroll service
- Preparation of all Federal and
State payroll tax returns
- Preparation of annual W2s and
1099s
- Quarterly tax payments facilitated
on your behalf without impound. You continue to earn
interest on your funds until they are due to the
government.
- Accommodation of last minute and
special requests whenever possible.
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