Your Health & Wellness Accountant
The Body of Accounting offers Accounting, Bookkeeping and Financial Management Services along with Accounting Education for the Health and Wellness Industry.
Accounting and Finance for the mind, body, and soul.
At The Body of Accounting, a division of Closing Your Books, our work focuses on the health and wellness industry because, like you, we place a premium on our wellbeing. People need to feel their best in order to perform to their peak potential. Helping customers get to that point is the privilege of the hard-working men and women involved in the field.
You manage your practice, we’ll manage your finances.
Let The Body of Accounting handle your Accounts Payable, Accounts Receivable, Employee Expense Reports and organize your books in full accordance with Generally Accepted Accounting Principles (GAAP).
Our payroll services utilize the latest technology, meaning onboarding employees, setting up direct deposits and paying taxes are all handled seamlessly for you, so you can focus on your patients and clients.
Not every software is for you. Together we’ll select software programs that efficiently communicate with one another and provide the services and financial reports you need to run your business efficiently.
Let The Body of Accounting Help You Help People!
Health and Wellness
Bookkeeping and Accounting Specialists
We work hard to keep you focused on your clients, using your skills and training to keep your patients healthy. You wouldn’t go to a chiropractor for yoga advice, or to a sports pro for information on how to cook; why should you expect to have the skills to manage your books? We can free up your time and keep your books (and your life!) balanced. You can pass off the day-to-day of medical accounting and bookkeeping to someone who is trained and skilled at it, so you can spend more time doing the things that you enjoy doing.
We want to help health and wellness providers to be financially stable so they can continue to provide the best service and build connections with their patients/clients as they care for them. This can’t be done if the practice/studio is not financially prepared for growth or any financial bump in the road. This is why The Body of Accounting exists: to keep the health & wellness industry financially fit.We help you make an impact on the world!
The Benefits of a Virtual
Health & Wellness Accountant
Meet Lozelle Mathai MBA, CFEI
The health and wellness industry has always been an intricate element in Lozelle’s life. She depends on each section of the industry to not only keep her healthy but also to provide balance in her busy life. Each profession holds a special place in her heart, and she is determined to make sure business owners of these professions are financially educated, can handle their finances and are financially healthy to stay in business so they can help others as they have and continue to help her.
Lozelle holds 2 Accounting degrees, an MBA, is a Certified Financial Education Instructor and is currently studying for her CPA. Her mission is to pick up where health and wellness education may have left off on the subject of financial management. She would like her clients to experience the “ah-ha moment” as they begin to understand all the elements of their accounting and bookkeeping cycle and the reality of controlling their business finances.
The Body of Accounting Specializes in the Health & Wellness Industry.
We work with a variety of clientele, including:
Medical Clinics &
& Pet Care Services
Behavioral Health & Counseling Practices
& Wellness Spas
We also work with a large number of other health and wellness specialists like Acupuncturists, CrossFit Gyms, Yoga, Pilates & Dance Studios, Dietitians & Nutritionists and many other health and wellness providers.
With The Body of Accounting, your Accounting & Finances are in good hands.
Why you should choose the body of accounting
We’re Bookkeeping & Accounting Specialists
for Health & Wellness Providers
Most health and wellness curriculum lack the financial education and financial management element of running a successful health and wellness practice. Our systems will not only give you more free time, but we can help you understand the whys and how to take control of your business finances. We are here to assist with filling in the financial gaps and providing medical accounting for your health and wellness practice. We deliver far more than numbers, as we interpret and review financial results jargon-free.
BRINGING THE TECH
With today’s technology, we can do almost anything on your phone. The days of data entry, collecting paper and working with two different systems are over! Workflows, receipt and document management and so much more can be done with a click of a button. Application integration allows you to have real time data in minutes with efficient workflows. We research 3rd party applications that may be best for you. There is a lot of technology out there, together we will choose the right one for your health and wellness business. Utilizing the right technology for your medical bookkeeping and accounting will improve efficiency within your practice. It doesn’t matter if you already use a certain program or you need help starting from scratch. We can help! To request a consultation, just fill out the contact form below or call us directly at 971-337-0444.
We Help You Learn
We practice KISS accounting and bookkeeping:
Keep It Sweet and Simple!
What’s it like working with The Body of Accounting?
See what a few of our clients have to say!
Request your consultation with Lozelle Mathai today!
UNDERSTANDING THE BASICS OF ACCOUNTING
The beginning stage of accounting is bookkeeping, and it is the foundation of accounting. Bookkeeping is the recording of the daily financial transactions in conformity with GAAP, Generally Accepted Accounting Principles.
Your daily financial transactions are the elements of your financial statements. These accounting principles allow for your financial transactions and financial statements to be reliable, relevant and free from errors.
FINANCIAL BUSINESS DECISIONS: Those accurate financial statements will enable you to make financial business decisions based on accurate and reliable data.
Once the bookkeeping is accurate, you are ready to dive into the accounting functions of your business, and develop a budget, measure the trends, and develop a forecast for the future.
The Body of Accounting will assist you with complex accounting issues such as deferred revenue, accruals, and GAAP-based accounting. These reporting/financial tools may include:
- CREATING AN ANNUAL BUDGET
- PRODUCING A WEEKLY, QUARTERLY AND YEARLY FORECAST
- PERFORMING BOTH QUARTER AND ANNUAL ANALYSIS
- CASH FLOW STATEMENTS
- IDENTIFYING FINANCIAL TRENDS IN YOUR HEALTH AND WELLNESS PRACTICE/STUDIO
Think of these tools as management reports to keep everyone within the organization accountable for the organization’s financial objectives. If you don’t know what those are, don’t worry! We do, and we can handle them for you and teach you about them.