Increase your personal compensation by eliminating the need to generate financial statements. In addition to the income statement, balance sheet, and trial balance, the DPFC 2011 also creates a populated copy of your annual Form 1120S U.S. Income Tax Return for an S Corporation.
The model was designed to allow you to calculate the incremental impact to "personal compensation" for any "what-if" scenario you run. For example, the model lets you calculate the incremental personal compensation you could expect by increasing the service rate charged per hygienist visit by $10.
There are two methods you can populate this Excel-based model designed for dentistry. You can use practice data from your Practice Management Software and related financial statements.
Or you can use a second methodology that eliminates the needless and costly work to generate monthly and annual financial statements (whether they’re prepared by an accountant or using QuickBooks or other financial software).
The fact is, you don’t need to use traditional software to generate financial statements for a cash-basis dental practice. In fact, that’s a waste of time and money because traditional financial statements aren’t much help in making business decisions or understanding the financial foundation of your practice.
With this simpler methodology to close your books you can eliminate the need for financial statements. Best of all, your practice financial data will be right where it should be – in an Excel-based model designed for dentistry.Save time, money, and unnecessary frustration and stop paying your CPA or wasting time generating financial statements you don’t need. The Dental Practice Financial Calculator (DPFC) lets non-financial professionals like you understand the transactions that flow through your business. This unique method of “practice financial management accounting” is more cost-efficient and effective than using statements from your accountant or using basic financial accounting software. Learn How »»»
Click on link to: download Practice Model. It's a great way to learn how to use both the model and Microsoft Excel. The practice model provides a functional example of a fictitious dental practice. It contains all the data you need to try out every feature of the software, including the generation of multiple simulated strategic plans, forecasts, and "what-if" scenarios.
This free Practice Model contains 24 months of both financial and production data and has a dental practice staff of 11 employees. The website does not require any contact information for this free download. If you choose the “open” option after clinking on the download link, the model will open in an Excel Browser format. If you save the browser or choose “save” after clicking on the download link, the file will be saved like any other Excel (.xls) file. The Excel browser format makes it very easy for a person who has never tried using Excel before to review or play with the model.
All large corporations have an all-encompassing business model in Microsoft Excel that they use for strategic planning, operations analyses, and monthly reviews with top management. The Dental Practice Financial Calculator provides this same style of all-encompassing strategic business planning model for dentistry.
Instructions for a simple "what-if" scenario that illustrates the functionality in this free Excel-based Practice Model designed for dentistry. View »»»