The healthcare industry operates within a highly specialized and regulated environment, making precise financial management crucial for its successful operation. Harmony Online Ledger, Bookkeeping & Consulting, LLC, provides tailored financial services specifically designed to meet the unique needs of healthcare organizations. From private medical practices to large healthcare facilities, we focus on securing our clients' financial health by offering expert bookkeeping, accounting, tax preparation, 1099, and payroll solutions.  

Healthcare accounting goes beyond simple number management—it is a critical component in ensuring compliance with healthcare regulations, stabilizing financial performance, and supporting patient care delivery. With industry-specific requirements stemming from regulations like HIPAA and the Affordable Care Act (ACA), maintaining accurate, compliant financial records is not optional—it's essential.  

At Harmony Online Ledger, we specialize in providing healthcare businesses with clarity, precision, and compliance.  

Healthcare institutions have complex financial workflows that require meticulous oversight. Our bookkeeping services streamline financial processes, ensuring accuracy while freeing your valuable time for operational priorities.  

Key bookkeeping features include:  

• Automating systems by connecting QuickBooks to bank accounts.
• Categorizing vendor receipts, revenue, and liabilities specific to healthcare.  
• Organizing and reconciling transactions for credit card and bank accounts.  
• Detailed financial clean-ups for income statements and balance sheets.  

Healthcare providers need solutions tailored to handle diverse revenue streams, reimbursements, and operational expenses. Harmony offers complete accounting solutions that ensure all financial reports are accurate, actionable, and compliant.  

• Financial analysis tailored to healthcare environments.  
• Managing accrual and cash accounting methods.  
• Oversight of fixed assets, including schedule maintenance and depreciation.  
• Accurate recording of loans, prepaid assets, insurance expenses, and lease agreements.  
• Preparation and organization of financial statements to aid strategic decision-making.  

Efficient payroll systems are essential for healthcare practices to operate without disruption. Our payroll management services are specifically designed to handle the unique staffing needs of healthcare providers.  

• Full payroll processing for medical personnel, including doctors and nurses.  
• Payroll audits to ensure compliance with industry standards.  
• Recording commissions, bonuses, and variable pay for contracted medical staff.  

Navigating the complex tax landscape unique to the healthcare industry takes expertise. Harmony Online Ledger manages this burden on behalf of our clients, providing precise, compliant, and on-time filings.  

Our suite of tax services includes:  

• Preparation and filing of sales and use taxes.  
• Management of 1099 filings for external healthcare contractors.  
• Custom tax planning and optimization tailored to healthcare organizations.  

Many healthcare companies rely heavily on independent contractors, requiring expert 1099 management for compliance. Harmony ensures accurate recording and reporting of 1099 contractor payments.  

• Proper classification of independent contractors.  
• Timely preparation and distribution of 1099 forms.  

For healthcare entities to run smoothly, managing outgoing and incoming cash flows is a priority. We take a full-cycle approach to accounts payable (AP) and accounts receivable (AR) management.  

Full-Cycle AP 

• Vendor invoice management, including ACH setups for streamlined payments.  
• AP reconciliation specific to healthcare services.  
• Ensuring accurate, on-time payments to vendors and suppliers.  

Full-Cycle AR 

• AR invoice creation and management with client ERP compatibility.  
• Accurate tracking of unearned revenue and applied payments to AR bills.  
• Comprehensive AR reconciliations and client aging reports.  

To stay ahead in a competitive sector, healthcare leaders need access to actionable insights. Harmony provides custom reporting tools to empower decision-making.  

• Generate KPIs tailored to healthcare, including patient care costs and hospital occupancy rates.  
• Use Excel templates for tracking billable services and client claims.  
• Chart of accounts maintenance and customization, specific to healthcare practices.  

Our extensive menu of services offers vital benefits for healthcare providers, including but not limited to:  

• Accuracy and Compliance: All services are aligned with HIPAA, ACA, and other regulatory standards.  
• Efficiency Gains: Streamlined workflows free up internal teams to focus on delivering outstanding patient care.  
• Tailored Solutions: Industry-specific insights mean every financial decision contributes directly to your organization's success.  
• Cost Savings: With expert financial management, optimize tax savings while minimizing unnecessary expenditures.  

Harmony Online Ledger, Bookkeeping & Consulting, LLC, is committed to bringing clarity, precision, and compliance to healthcare financial management. From organizing small private practice accounts to overseeing the complex needs of larger facilities, our team ensures that your financial operations are seamless, letting you concentrate on what truly matters—patient care.  

Contact us today to learn more about how Harmony can help your healthcare organization achieve financial health and success.