Essential Guide to Bookkeeping for Massage Therapists: Simplify Your Finances and Grow Your Business!

We understand that not all businesses have the same bookkeeping needs, so we work closely with you to come up with a solution that works best for you. In any business, it is important to have partners that you trust. It is for this reason that I highly recommend Alicia Bishop and Therapeutic Bookkeeping. Alicia shows a level of care and compassion with each client which is hard to find in many professional services.

Nia Smith, who also worked at A New U Spa, filed a lawsuit against Watson last week, the 23rd of 24 civil cases. Smith said that during their first massage, Watson asked her to put her fingers inside his anus, a request she said she told Louis about afterward. She said in the second session he asked bookkeeping for massage therapists her if she wanted his penis in her mouth, and that he repeatedly requested sex in their third and final massage. Smith also claimed that Louis knew Watson was seeking sex and told her she needed to keep Watson happy. In a deposition, Louis denied she knew anything about Watson’s sexual desires.

Specialized Bookkeeping Services

I’ve been using MassageMinder ever since I found it many years ago. I’m now a 77 year old therapist and am a bit “technically challenged”, so I use MM for all my tax records and filling. Amanda Peters, a former Harris County prosecutor who teaches law at South Texas College of Law in Houston, said such submissions, known as grand jury packets, are not the norm for the average person facing charges. They are more commonly introduced in high-profile cases in which the client can afford an elaborate and costly defense. In early November 2020, after Smith stopped working at A New U Spa, she posted text messages from Watson along with his phone number and his Cash App receipts on Instagram. She included the message, “I could really expose you,” adding an expletive.

It’s a specialized computer program that’s designed as a flexible, easy-to-use accounting solution. As a result, the program has become commonplace among small businesses and only continues to get more popular. Managing your cash flow and expenses is easy with Akounto. For a more in-depth analysis, sort your income by date range, customer, payment type, or currency. While all of the Accounting needs are met within a program, like Quicken, you should still understand the basics of accounting terms, and the bookkeeping aspects, in order to keep your finances running smoothly.

MassageBook

My business grew to the point where I could no longer manage my bookkeeping. I was nervous to turn it over and hesitant to spend the money but Alicia has been amazing and her services are worth every penny! She was able to clean up my bookkeeping and works with my accountant seamlessly. I haven’t worried about anything with my finances since I started working with her and that peace of mind is priceless. Not to mention, all the time I saved not trying to tackle this myself.

• You may also opt to get a business credit card to make purchasing supplies easier.It’s also a good idea to set up a business savings account.
• If you don’t keep current and accurate records, you’ll be scrambling at tax time to get it all done.
• As the tax season approaches, the massage therapy software for accounting will compute the sums, putting your mind at ease even more.
• Statement of income and expense (also known as a profit and loss statement)—A summary of income and expenses for a specific period of time.
• Track business performance through different types of reports including appointment activity reports, sales reports, tax reports, profit and loss records, and more.
• In June 2020, Watson began frequenting a spa in a strip mall off Interstate 45, at least a 30-minute drive from his home or work.

If you buy a rug for your massage therapy practice, you can deduct the full cost. But, if you use the rug in your home, too, it’s considered a personal expense. If at a later date you decide to use the rug in your practice, you can deduct the fair market value, not the original cost.

Failing to reconcile books with your bank statements

Our software supports double-entry accounting, allowing massage therapists to keep an eye on your business finances. Massage therapy software helps massage centers improve their customer experience through online appointment scheduling systems, SMS reminders and gift coupons to loyal customers. Some platforms also capture customer pictures, notes and purchasing habits that help massage business owners provide personalized services. The feedback collection mechanism feature offers customers a platform to share their compliments or grievances directly with the centers. You should choose outsource-bookkeeper.com for https://www.bookstime.com/ because we are experts in the field, provide personalized and professional service, and offer competitive pricing. Outsource-bookkeeper.com provides competitive pricing for bookkeeping for massage therapists by offering customized packages that cater to your needs and budget.

• Expenses that may be deducted include the business portion of real estate taxes, mortgage interest, rent, utilities, insurance, maintenance and repairs, and depreciation.
• When you’re looking for bookkeeping and QuickBooks training nearby, Better Bookkeepers is the best choice.
• I haven’t worried about anything with my finances since I started working with her and that peace of mind is priceless.
• In any business, it is important to have partners that you trust.
• Depending on your plans for using QuickBooks, Better Bookkeepers will train you accordingly.
• That will cut down on filing paper, just be sure you have access to all that.

Most cash-basis taxpayers keep books and file income taxes on a calendar year. The profit or loss is determined by subtracting deductible expenses from taxable income. The income you report and pay taxes on in your Schedule C return is the net profit or loss income from line 31 on your Form 1040.