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Bookkeeping built for how veterinary practices actually operate — pharmaceutical COGS tracking, CareCredit reconciliation, production-based associate compensation, controlled substance documentation, and equipment depreciation. From single-doctor clinics to multi-associate hospitals.
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Turnkey CFO is a bookkeeping firm in Austin, Texas built for veterinary practices and animal hospitals. We handle pharmaceutical COGS, CareCredit and Scratchpay reconciliation, associate production compensation, controlled substance tracking, and equipment depreciation — the bookkeeping complexities most general firms have never encountered.
Veterinary practices have accounting requirements most general firms have never seen — pharmaceutical inventory COGS, third-party financing reconciliation, production-based associate compensation, controlled substance documentation, and equipment depreciation. We handle every one.
Collections and drug inventory, reconciled monthly.
Every service below is built for how veterinary practices actually operate — inventory-intensive, associate-compensated, third-party-financed, and equipment-heavy.
Full monthly close for your veterinary practice — accurate categorization of medical revenue, pharmaceutical COGS, associate payroll, staff wages, facility costs, and equipment. Monthly close package with P&L, balance sheet, and written commentary ready for your review every month. See all services
Pharmaceutical and medical supply purchases recorded to inventory — not expensed at purchase. COGS recognized when product is dispensed to patients. Inventory value on the balance sheet reflects what's actually on your shelves, and gross margin on medical services reflects the true cost of what was delivered. If you use practice management software (Avimark, EzyVet, Cornerstone, Impromed), we reconcile to your dispensing records.
Third-party financing deposits reconciled to originating invoices every month — gross invoice, financing fee, net remittance, and timing difference each tracked separately. Your accounts receivable reflects only what you actually expect to receive, and financing fees are tracked as a distinct expense line so you can see the true cost of offering client financing. No more mystery gaps between invoiced revenue and bank deposits.
Associate veterinarian production pay (typically 18–25% of production) calculated correctly per pay period — gross production by associate tracked in your practice management software and reconciled to payroll. Contra-production adjustments (refunds, discounts, write-offs) accounted for before the percentage is applied. Every associate's compensation documented and reconciled before payroll runs.
DEA-regulated pharmaceuticals tracked in a dedicated expense account separate from general pharmaceutical inventory. Controlled substance purchases reconciled to your DEA log on a regular basis. If your financial records and your DEA usage log ever diverge, we find the discrepancy before it becomes a compliance issue. Controlled substance cost visibility also helps identify shrinkage that should be investigated.
Major veterinary equipment — digital radiography systems, ultrasound units, dental units, surgical tables, anesthesia machines, laboratory analyzers, and centrifuges — depreciated over their useful lives on a documented schedule. Purchases correctly classified as capital expenditures vs. repairs or maintenance. Your balance sheet reflects real asset value; your monthly P&L shows smooth depreciation expense rather than lumpy write-offs when you buy new equipment.
Veterinary medical services, boarding, and grooming have very different cost structures and margins. We track revenue and direct costs by service category so you see true medical margin separate from boarding and grooming. Multi-doctor practices get revenue allocation by associate — the foundation for production compensation calculations and practice performance evaluation. Behind on the books? Catch-up bookkeeping
Tax filings and legal matters are coordinated with your CPA or attorney. Turnkey CFO does not provide tax or legal advice; we keep your books filing-ready and support the process.
Every practice we serve gets a live dashboard that turns clean books into decisions — medical margin, pharma cost, and production by associate, always current.
"For the first time we have accurate pharma COGS and can actually see our true medical margin — and CareCredit is finally reconciled properly instead of just booking the deposit as revenue."
Pharmaceutical inventory COGS tracking set up from scratch, CareCredit net remittance reconciled correctly, associate production comp calculated accurately, and controlled substance expenses in their own account. The books finally reflect how the practice actually works.
We learn your practice — doctor count, associate compensation structure, financing providers, practice management software, and your pharma inventory approach. No sales pitch.
We connect to QuickBooks, review your chart of accounts, assess pharma inventory setup, map your associate production tracking, and build your depreciation schedule for existing equipment.
Monthly close package, pharma COGS tracking, CareCredit reconciliation, production comp by associate, controlled substance segregation, and equipment depreciation running clean from month one.
Use the instant estimate to see a real price range, then book a 15-minute call to talk through fit and scope. No pressure, no sales pitch.