Question 1

What bookkeeping do medical practices in Canada need?

Accepted Answer

Medical practices need income tracking from OHIP/MSP billings and private fees, expense categorization (medical supplies, equipment, staffing), HST compliance (most medical services are HST-exempt but equipment and supplies carry HST), payroll for clinic staff, and monthly financial reports for the practice owner or partners.

Question 2

Is HST charged on medical services in Canada?

Accepted Answer

Most healthcare services provided by licensed practitioners (physicians, dentists, optometrists, chiropractors, physiotherapists) are HST-exempt. However, cosmetic procedures, non-covered services, and certain health products may be subject to HST. We ensure your filings properly separate exempt and taxable revenues.

Question 3

How do you handle OHIP reconciliation for Ontario clinics?

Accepted Answer

We reconcile your OHIP payments against your service billings, tracking rejected claims, payment delays, and partial payments. This gives you a clear picture of your billings vs. collections each month.

Question 4

Do you work with healthcare corporations (MPC/PC structures)?

Accepted Answer

Yes. Many Ontario physicians operate through a Medical Professional Corporation (MPC) or Professional Corporation (PC). We handle the bookkeeping for these structures, including management fee tracking, dividend distributions, and shareholder loan balances.

Bookkeeping built for
healthcare practices.

We speak
healthcare finance.

From solo practice to multi-location clinic.

Medical bookkeeping
questions answered.

Let us handle the books.
You handle the patients.

Bookkeeping built forhealthcare practices.

We speakhealthcare finance.

From solo practice to multi-location clinic.

Medical bookkeepingquestions answered.

Let us handle the books.You handle the patients.

Bookkeeping built for
healthcare practices.

We speak
healthcare finance.

Medical bookkeeping
questions answered.

Let us handle the books.
You handle the patients.