---
title: 'Physician Accounting Fails: 3 Rules to Pass Along to Your Physician Customers'
type: 'episode'
url: 'https://doc.social/episodes/physician-accounting-fails-3-rules-to-pass-along-to-your-physician-customers'
show: 'Medical Sales Accelerator Podcast'
show_url: 'https://doc.social/podcasts/medical-sales-accelerator-podcast'
published: '2022-01-03'
audio: 'https://traffic.libsyn.com/secure/medicalsalesaccelerator/EP_64_Podcast_with_Zed_and_Clark.mp3'
---

# Physician Accounting Fails: 3 Rules to Pass Along to Your Physician Customers

Is your physician customer’s convoluted approach to accounting hurting your business? Perhaps. Without a healthy business behind the clinic, there’s frustratingly little you can do to help a doc treat more patients. As part of TrackableMed’s ...

## Summary

Is your physician customer’s convoluted approach to accounting hurting _your_ business? Perhaps. Without a healthy business behind the clinic, there’s frustratingly little you can do to help a doc treat more patients. As part of TrackableMed’s [Growth-Driven Practice Series](https://www.trackablemed.com/3-common-accounting-challenges) for 2021, Matt Garrett of TGG Accounting administered a dose of harsh truth to practice owners: Accounting for small businesses is black and white—stop overthinking it. As we discuss some of the eye-opening stats Matt presented, you’ll discover why “accrual accounting is the only accounting,” the shocking prevalence of small-business theft (plus the best ways to guard against it), and three hard-and-fast rules that simplify accounting across the board.

In this episode, you’ll learn:

- How cash-based accounting leads to inaccuracies that come back to bite a business

- The truth behind Matt’s mantra, “Creative accountants go to jail”

- How someone siphoned $1 million from a practice by exploiting negligent accounting

- Why it’s best for most practice owners to use two separate sets of books

- How fixing broken practice accounting allows docs to do more of what they love.

Plus, we explore popular misconceptions that unnecessarily complicate accounting for physicians.