Episode 195 | Industry Averages for Profit First with Julie Herres

The Group Practice Exchange

Have you ever felt discouraged and overwhelmed when it comes to dealing with payroll, profit, and other financial aspects of your business? Well, now you won’t have to! In today’s episode, I am back again with Julie Herres, owner of Green Oak Accounting Firm to talk about the Profit First System, and how it can greatly benefit you and your business!

In this episode we cover:

• Understanding the goal of Profit First System
• How to know the recommended Current Allocation Percentages (CAPS) and Total Allocation Percentages (TAPS)
• When to make shifts in CAPS and TAPS
• Why it’s normal to not be in the target allocation at first
• What to do when the biggest problem is payroll

Links mentioned in the episode:

Profit First for Therapists

This episode is sponsored by TherapyNotes. TherapyNotes is an EHR software that helps behavioral health professionals manage their practice with confidence and efficiency. I use TherapyNotes in my own group practice and love its amazing support team, billing features, and scheduling capabilities. It serves us well as a large group practice owner.

Do you ever wish for a financial therapist who could relieve you from the last few months’ bookkeeping, talk you off the edge when you're running into issues with Quickbooks, or help you work through a profit plan for growth? GreenOak Accounting does just that! GreenOak Accounting is an accounting firm that specializes in working with group practices. Their value goes WAY beyond bookkeeping; they can help you get on track for financial success. Schedule a free consultation by going to http://greenoakaccounting.com/tgpe