Bookkeeping for Therapists in Toronto
You support your clients’ mental health; we support your books! At SAL, we manage your insurance billing, invoicing, and diverse income streams so you can grow your therapy practice in Toronto.
Your Therapy, Our Expertise: Bookkeeping for Therapists in Toronto.
2x Your Earnings.
Managing 5-7 patient payment streams—insurance, EAPs, and direct payments—is difficult. Save an average of $12,000 with our automatic multi-payer reconciliation.
More Time for Healing.
Manual computations take most therapists 3.5 hours each week. Our Toronto bookkeeping for therapists connects with practice management software to save 182+ hours annually.
Compliant Practice, Always.
Staying compliant with PHIPA and CPA regulations is not easy. We guarantee 100% compliance to save your practice up to $500,000 on non-compliance penalties.
Nurturing Minds & Books.
Over 82% of Toronto therapists are stressed financially. Our bookkeeping for therapists shows real-time KPIs like income per session and no-show rates for data-driven decision-making.
Our Expert Bookkeeping Services for Therapists in Toronto.
From billing management to tax compliance, we’ve got you covered! We take control of your financial success with our professional bookkeeping for therapy practices in Toronto.
Insurance Claims Management
- 100% approval rate for first-pass claims.
- Fewer Days in the Accounts Receivable Book
- Programmed invoicing for client sessions
- EHR integration like Therapy Notes and SimplePractice
Financial Analytics and Reports
- Realistic cash flow projections
- Customized financial statements
- Analyzing income trends and cost patterns
- Comparisons versus the Toronto therapy market
- KPI research (e.g., Revenue per Session, Client Retention Rate)
Expense Categorization
- Precise therapy supplies and equipment tracking
- Deductions for home office and travel expenses
- Continuing education and licensing fee expenses management
- Strategies to increase profit margins by 15-20%
Payroll Services
- Compliance with WSIB requirements
- Payments for associate therapists and staff
- Create pay structures (hourly, per session, sliding scale)
- Benefits and retirement plans management
Tax Compliance & Filing
- Accurate HST/GST return filings
- Quarterly and annual tax filing
- Corporate tax return (T2) preparation
- Sole proprietor psychotherapist tax return (T1) preparation
- Income splitting between salary and dividends
- 100% compliance with CRA regulations
Practice Growth Advisory
- Integration with QuickBooks or Xero
- Financial forecasting for practice growth
- Assessments for new service offerings
- Profitability analysis by therapy and client type
- Customized financial strategies and advice
Trusted Bookkeeping Partner for Toronto's Professional Therapists.
We’ve helped over 80 therapists in Toronto save more time to focus on their patients without financial stress!
See How Our Bookkeeping Services Help Therapists in Toronto.
Our expertise in bookkeeping helps therapists reduce financial stress, just as they do for their clients!
Watch how our therapist clients have “reduced no-shows and increased the net income in just one year.”
Advanced Integration.
Focus on your clients while we manage your books with software like QuickBooks and Xero.
Double Profits.
Improve your revenue cycles and profits by 50% with our best therapist bookkeeping services in Toronto.
100% Compliant.
We prepare your taxation with zero change of CRA audits to secure your practice from penalties.
Outstanding Results of Our Bookkeeping Services for Therapists in Toronto.
Only Pay Once You’re 100% Satisfied with Our Bookkeepers.
Money-Back Promise.
Pay when you find us handling your books professionally. Your demands are our priority.
Audit Protection.
Stressing over CRA audits? Knowing we offer free audit support, SAL enables you to unwind.
Explicit Pricing.
We offer affordable bookkeeping for therapists in Toronto with clear pricing packages.
Discover Why Toronto's Top Therapists Choose SAL’s Bookkeeping Services.
Bookkeeping for Therapists in Toronto’s Wellness Industry.
Clinical Psychologists
No late insurance claims, no high accounts receivable (A/R) days! We implement an advanced Revenue Cycle Management (RCM) system to reduce A/R days by 40%. Our CPA follows Ontario Psychological Association guidelines to maximize net collection.
Marriage & Family Therapists
We create financial planning for family therapists in Toronto to manage different payment structures (individual, couple, and family rates). Our expert bookkeepers leave no room for billing errors to improve the cash conversion cycle by 35%.
Addiction Counselors
Managing government grants, sliding scale fees, and insurance claims is complex. We prevent CRA audits by proper expense categorization. It can minimize fund returns and unlock an additional 15-20% tax deduction you may not know about.
Child & Adolescent Therapists
Child and adolescent therapists may struggle with parent-child billing and school contracts. Our triple-entry bookkeeping for therapists boosts school contract collection and guarantees 100% compliance with PHIPA regulations.
Group Practice Owners
We track individual therapist productivity, profitability, and equitable overhead allocation through a 24/7 financial dashboard. These insights can enhance practice revenue by 28–35% and reduce administrative expenses by 22%.
Teletherapy Providers
Online therapy has its financial challenges. Our therapist accounting services in Toronto reduce the effective tax rate by 8–12%. Our CPA boosts virtual practice expenses using a cloud-based PIPEDA-compliant financial management system.
A Message From Our CPA
Hello everybody! I am the founder of SAL Accounting, and I understand the specific financial problems therapists in Toronto face. Our therapist-specific bookkeeping services provide 100% accuracy and full CRA compliance. We offer bookkeeping solutions based on your needs. Trust us to simplify your books so you can focus on what’s most important—your client’s mental health and well-being!
M. SALMAN
The Faces Behind Our Bookkeeping for Therapist Services.
Sarah Zeyneb
Jazz Thind
Alex Hart
M.SALMAN, CPA
FAQs: Bookkeeping for Therapists in Toronto.
Can you help me grow my therapy practice?
Our clients say our bookkeeping services for therapists have increased their net income by 20–25% within the first year. Our expert financial planning can expand your business, enhance service prices, and boost efficiency.
How do your bookkeepers manage insurance billing for therapy practices?
We are proud to say that we guarantee 100% approval for insurance claims on the first try. This can reduce the billing cycle time by up to 45%, giving you more time for your clients. Our bookkeeping services for therapists also maximize cash flow and minimize administrative burden.
I have a small private business; how much time should you spend on my books?
The good news is that our Toronto small business bookkeeping is flexible. We customize our solutions and perform as much or as little bookkeeping as your budget and business needs allow. Even if you are transitioning to having your private practice, we provide you with financial projections, break-even analysis, and setup of efficient bookkeeping systems from day one. Talk to our CPA to see how our small business accountants can grow your practice.
How do you protect my clients' information?
We utilize 256-bit encryption for all data and align everything with PHIPA guidelines. Our experts audit the security level of our systems periodically and maintain cyber liability insurance for the latest protection.
How do you manage my books if I am part of a larger psychology firm?
Whether you are a private therapist or part of a larger organization, we’ve got you covered. Our CPA guarantees the maximum taxation benefits you deserve. So, we keep your books in order regardless of your condition since we know how to customize our solutions for the best outcome.
How do you manage complicated sliding scale fees?
Our advanced financial software, like Quickbooks and Xero, offers accurate and timely reports of sliding-scale payments. In this way, you can track your income from multiple streams with 100% accuracy. Our bookkeepers also help therapists optimize their fee structure.
Do you guarantee compliance with CPA, CRPO, and CRA regulations?
Absolutely. Our CPA is fully aware of the latest regulations and compliance requirements relevant to therapists. Thus, we keep all records and filings 100% compliant with these regulations to avoid costly penalties that can exceed $500,000.
How are SAL’s bookkeeping services for therapists different from those of other providers?
We have years of expertise in mental health practice and financials. Our accessibility to the most advanced financial software makes integrations easy. Therefore, we save our therapist clients at least 12-15 hours per week and thousands of dollars on taxation.
Where is SAL Accounting located?
We are in the heart of downtown Toronto. Our office address is 330 Bay Street, minutes from Union Station and CN Tower.
Book a FREE Bookkeeping Call to Grow Your Toronto’s Therapy Practice.
Ready to elevate your finances and focus more on client mental health? Book your FREE consultation today and see how our specialized bookkeeping services can help you succeed!