Year-End Bookkeeping Checklist for Therapists

Share this to your followers

The winter rush is on its way. Are you ready?

December might be the “most wonderful time of year,” but for many people, it’s also the most stressful. Not only do you need to deal with a last-minute influx of client appointments before the holiday break, but you also have to manage everything outside of your therapy practice. Buying gifts, dealing with family, driving the kids to their holiday recitals, cooking… It all takes a massive amount of time and energy.

The time-crunch can mean that you miss some essential year-end bookkeeping necessities. But not to fear because we’ve prepared a list of everything you need to organize your 2019 bookkeeping. And thankfully, with the help of Owl Practice, you’ll have all the information you need at your fingertips!

1. Check for Unpaid Invoices

Check that you’ve been paid for all of your sessions. With Owl Practice, you can send invoices to your clients with a single click, saving on paper. We also offer the ability for your clients to pay with their credit cards using Stripe, directly from your Owl account. And if there are invoices that are a little late in being paid, you can simply send a reminder, along with the easily-accessible payment method. It’s simple, easy, and you can manage it from Owl Practice on any device!

2. Reconcile your Books

It’s essential to take some time in November or December to go through your books and make sure everything is in order while the information is still relatively fresh in your head.

Make sure all of your accounts are accurate. Don’t forget to take into account credit cards, bank accounts, loans or lines of credit, any asset accounts if applicable, and any payroll liabilities if applicable.

3. Set Up Goals for the Year Ahead

Let’s be clear; setting up goals for next year is NOT a New Year’s Resolution!

As you likely know, New Year’s Resolutions rarely work, primarily because they’re more like wishes than goals. If you want to grow your therapy practice in the year ahead, you need to set up concrete and achievable goals.

Think SMART goals: specific, measurable, attainable, relevant, and timely! Then once you have a series of goals, check in on them throughout the year to see how things are developing. We’d recommend setting up monthly, quarterly, and yearly goals with actionable plans.

For example, if you want to expand your client list, then a possible way to tackle it is to create a free profile on TherapyOwl, our free online listing service for therapists all over Canada. All someone needs to do is put in their location and clinical needs, and they’ll be matched with therapists in their area. It’s an entirely free service for both clients and providers, so putting up a comprehensive profile can be a cost-free and easy way to build your practice!

4. Take Stock of your Practice’s Needs

As practices grow, their needs start to change. For example, in the early period of your business, you might only be conducting 20 sessions a month. But as more people begin to come to see you, you might need to account for more sessions. You might even need some help with your booking and client intake.

Now is an excellent time to check your current needs and see if it’s time to update the way you manage your practice. Maybe it’s even time to upgrade your practice management solution. Owl Practice offers many packages for a variety of different needs so you can upgrade your account to meet your growing demands.

For example, our Lite plan only costs $40, offering up to 20 sessions a month, along with appointment scheduling, reminders and confirmations, billing tools, clinical notes, unlimited data storage, and more. If you move up to our standard plan, you receive all of this plus unlimited sessions a month. If you need a more sophisticated client booking solution, you could add our online booking system and client intake and consent forms by moving to our premium package. And if you’re making a move towards a group practice, you can check out our group plan too!

We’d be delighted to help you make the transition to one of our other packages to better suit your needs. Get in touch if you have any questions.

5. Reflect on Everything You’ve Accomplished This Year

As a mental health professional, you often help people reflect on their past experiences, giving them a new perspective on their present and future. But therapists who run busy practices rarely have this luxury! To run a successful business, it’s almost always about “What’s next?” The next appointment, the next marketing blitz, the next step in your practice’s growth…

The end of the year allows you to look back and reflect on your successes in the last twelve months. Using Owl Practice’s calendar management tools, you can go back and check your appointments and meetings to see the incredible amount of time you’ve put in. Using our invoicing tools, or third-party services, like QuickBooks Online, you can take stock of your yearly income and how your business did financially.

In other words, take some time over the holidays to reflect on your successes, failures, and struggles. This can put you in the right frame of mind to move forward with your business going into the upcoming year!

Bringing it Home

If you’re interested in how Owl Practice can make your winter rush much more manageable, we invite you to book a 14-day free trial or book a demo today. And if you have any questions or comments about our services, please contact us at

As Always,

Practice Wisely


Popular Articles

What you can accomplish with Owl

The Owl Observer examines the health and wellness industry through the lens of the professionals that are redefining private practice. Find inspiration, learn from others, and discover insights on how to build the best version of your practice.

Stay inspired

Get the latest stories from your peers right to your inbox.

Try Owl free for 14 days

Start your trial. Invite your team. Join the thousands of care professionals using Owl to run their practice every day.

Join our Mailing list!

Get all latest news, exclusive deals and academy updates.
Free and no spam ever. Unsubscribe anytime.
Welcome to Owl
We noticed you're located in the US. Which Owl website would you like to visit?
The Owl website is designed for residents of the US and Canada. Which Owl website would you like to visit?
Clicking on "Take me to Owl US" will redirect you to the US version of Owl. Any pricing will be shown in USD, and access and use of this website is subject to Terms of Use.