Advanced Corporate Bookkeeping for Nova Scotia Medical Professional Corporations (MPCs)
Does Your Medical Practice Need a Specialist Bookkeeper?
Medical corporations operate on a completely different financial framework than retail stores or construction trades. If your bookkeeper doesn’t understand clinical cash flow, you face severe operational risks.
1. The Reconciliation Gap: Your EMR shows what you billed, but Medavie Blue Cross pays out lump sums mixed with rejections and adjustments. We match your bi-weekly MSI remittance advices directly to your bank feed.
2. The Shareholder Loan Trap: Moving money freely out of your MPC to cover personal expenses creates massive corporate tax liabilities under Section 15(2). We monitor your debit balances monthly to protect your wealth.
3. Missed Professional Offsets: High CMPA malpractice premiums, licensing fees, and Doctors Nova Scotia dues come with complex provincial rebates. We isolate and offset these transactions cleanly so your real expenses aren’t distorted.
We bridge the gap between your EMR billing workflows and QuickBooks Online. Keep your clinic cash flow clear, protect your shareholder loan accounts, and deliver pristine books directly to your corporate CPA.
The Hamman Bookkeeping Medical Workflow
1. Secure Setup
We securely connect your banking, accounting, and remittance records so information flows to us with minimal effort from you.
2. Monthly Reconciliation
We categorize transactions, reconcile MSI remittances, and monitor shareholder loan balances throughout the month.
3. Clear Reporting
You receive accurate, physician-ready financial reports while we coordinate clean records for your accountant and year-end filings.
For Your Corporate Accountant
We don’t replace your CPA; we protect their time. By delivering a perfectly balanced, accrual-based general ledger at year-end, we completely eliminate the costly hourly cleanup fees traditionally charged by corporate accounting firms before they can file your corporate tax return.
Take Control of Your MPC’s Financial Health
Let’s look under the hood of your QuickBooks file. On our 15-minute diagnostic call, we will identify where your current workflows are lagging behind your clinical data.