Bookkeeping, payroll tax and sales tax for pharmacies & healthcare practices
A healthcare practice or pharmacy is paid by many sources at different times: patients, insurers and benefit managers. RazaPro matches those payments to the bank, reconciles every account, and calculates payroll tax for staff, working from deposit and statement data with no patient records needed.
What pharmacies & healthcare practices have to get right
Insurers pay late and in pieces
A remittance can cover many visits or prescriptions, with adjustments and denials. The deposit on the bank statement has to be matched to the remittance to see what is still owed.
Several payment streams
Patient copays, card payments, insurer payments and, for pharmacies, benefit-manager payments and recoupments arrive separately and are easy to mix up.
Licensed staff and uneven payroll
Practices have licensed staff on salary and hourly staff on schedules. Payroll tax has to be calculated correctly for each type.
Privacy comes first
Bookkeeping needs deposit totals and statements, not patient health information. Statements can be shared with patient details removed. If your practice needs a business associate agreement, raise it before onboarding.
What RazaPro does for pharmacies & healthcare practices
- Insurer, patient and card payments matched to bank deposits
- Open reimbursements listed for the practice to follow up
- Bank and credit card transactions reconciled every month
- Payroll and payroll tax calculated monthly or quarterly
- Sales tax calculated each period where the practice sells taxable products
- Monthly profit and loss and balance sheet with questions listed for the owner
What it costs
Bookkeeping plus payroll tax ($130–$140 a month).
Bookkeeping is priced by transactions: $75 a month up to 150 transactions, $100 up to 300 and $120 up to 500. Catch-up work, extra states and larger payrolls are quoted before any work starts.See all plans and the estimator.
Software: QuickBooks Desktop, including a shared file on a virtual machine, and QuickBooks Online.
Sales tax
Medical services are generally not taxed, but retail items such as over-the-counter products or supplies can be, depending on the state. RazaPro calculates sales tax on the taxable items the client sells.
Payroll and payroll tax
Staff of up to five employees in one state is the standard scope: payroll each period, payroll tax deposits and quarterly returns prepared. Larger practices are priced separately.
Not included in the standard scope
- Medical billing, coding and insurance claim submission
- Pharmacy inventory counts and valuation (quoted separately)
- Accessing patient records or practice-management systems
- Compliance, licensing and audit support
RazaPro does not prepare or file income tax returns or give tax advice. Tax decisions and signatures stay with the business and its CPA.
Work our team has done in this industry
Our team has handled the monthly bookkeeping, payroll and sales tax routine for pharmacies & healthcare practices among the small-business clients it supported for a US accounting firm.Client names are not published, and results vary by client.Read the anonymous case studies.
Frequently asked questions
How much does bookkeeping cost for a medical or dental practice?
Bookkeeping is $75 to $120 a month depending on transactions. With payroll tax it is $130 to $140, and with sales tax as well it is $150 to $170.
Do you need access to patient records?
No. Bookkeeping works from bank, card and deposit statements. Patient details can be removed before statements are shared.
Can you reconcile insurance payments?
Yes. Insurer payments are matched to bank deposits and open balances are listed. Claim submission and medical billing are not part of the service.
Do you handle pharmacy inventory?
Inventory counts and valuation are outside the standard monthly scope and are quoted separately.
Accounting firm with pharmacies & healthcare practices as clients?
RazaPro does this work under your firm’s name at wholesale prices from $40 to $70 per client a month, with a free 30-day pilot on up to 3 clients.See the firm program.
Serving businesses across the US
RazaPro supports businesses in every state. State guides with local tax detail:Texas, Georgia, Colorado, New York, New Jersey, Florida, California, Illinois. Other industries:Gyms & Fitness, Salons & Barbershops, Agencies & Professional Services.All industries.
Talk through your pharmacies & healthcare practices books
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