No. For most med spas, fall is the best time to switch. It gives a new accountant two to three months to clean up the books and plan your taxes before December 31. Wait until February, and your new accountant inherits a closed year and can only file whatever the numbers say. At Liguori Accounting, […]
Is It Too Late in the Year to Switch Your Med Spa’s Accountant? Read More »
Accounting/Bookkeeping
In most med spa MSO structures, the management company (the MSO) should carry the practice’s profit or loss at year end. The clinical entity (the PC) should finish close to break-even. The management fee is what moves the profit, and a year-end true-up under your Management Services Agreement is how you land it. If your
Which Entity Should Show the Profit in Your Med Spa MSO at Year End? Read More »
Med Spa
Every month you should be pulling revenue by provider, revenue per hour, rebooking rate, discounts as a percentage of revenue, and product consumed per treatment. Your P&L tells you what the practice earned. Your EMR tells you where it came from and who produced it. Neither report answers the important questions on its own. At
What Should Your Med Spa Be Pulling From Your EMR Every Month? Read More »
CFO Consulting
A new device pays for itself when the treatments it performs each month cover what it costs you each month. The math is simple: add the monthly payment to the monthly operating cost, divide by the average sale price of the treatment, and you have the number of treatments you need to book every month
How Do You Know If a New Med Spa Machine Will Pay for Itself? Read More »
Uncategorized
Your bottom line tells you whether the business made money. It does not tell you which parts of the business made it, and that is the number that actually changes decisions. To run a med spa well, you have to measure profitability at four levels: by provider, by treatment, by payroll load, and by product
How to Measure Med Spa Profitability: Provider, Treatment, Payroll, and Product Margins Read More »
Accounting/Bookkeeping
Good med spa bookkeeping comes down to two things: a chart of accounts built for how an aesthetics practice actually earns money, and a monthly close that keeps inventory, deferred revenue, and payroll recorded accurately. Most of the messy books we inherit are not messy because the owner is careless. They are messy because the
Med spa accounting is the full financial operating system for an aesthetics practice: bookkeeping built for product and service revenue, monthly reporting you can actually make decisions from, proactive tax strategy, and the accounting discipline an MSO structure requires. It works differently than accounting for a typical small business, because a med spa carries inventory,
Med Spa Accounting: The Complete Guide for Practice Owners Read More »
Accounting/Bookkeeping, Med Spa
Profit and cash are not the same thing, and the gap between them is where a lot of med spa owners get caught off guard. Your profit and loss statement can show a healthy bottom line while your bank account tells a completely different story. The usual culprit is timing: money tied up in inventory
Why Your Med Spa’s P&L Isn’t Telling You the Whole Story Read More »
Accounting/Bookkeeping
Revenue is not the same as profit, and neither one guarantees cash in the bank. In a recent webinar hosted by Lengea Law, Nick Liguori of Liguori Accounting joined healthcare attorneys Sara Shikhman and Emily to unpack why one med spa can post $5 million in revenue with almost nothing to show for it, while
Why Do Some Med Spas Make Millions in Revenue but Have No Profit? Read More »
Accounting/Bookkeeping, CFO Consulting
If your med spa is structured as an S-corp, how you pay yourself is one of the most consequential financial decisions you make every year. Get it right and you can reduce self-employment tax by tens of thousands of dollars annually. Get it wrong and you are either leaving money on the table or
How to Pay Yourself from Your Med Spa Read More »
Accounting/Bookkeeping
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