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Why Consider a Veterinary Chart of Accounts?

Writer's picture: Grace UrseryGrace Ursery



If you’re a veterinary practice owner, you might be wondering: Why bother with a specialized veterinary Chart of Accounts? Well, here's the answer: A veterinary Chart of Accounts gives you a deeper, more tailored understanding of your business. It breaks down your revenue sources, Cost of Goods Sold (COGS), labor costs, and administrative expenses with a level of detail you just can’t get from a generic accounting system.


Does every veterinary practice need a specialized Chart of Accounts (COA)? No, you can operate without one. But having one tailored to vetmed’s industry specifics provides a clearer picture of your practice’s financial health and opportunities for growth. After all, veterinary practices aren’t like other human medical care models and your veterinary practice may not be like the other one across the country. Veterinary COAs do not come in one cookie cutter shape. A GP practice will have vaccines revenue while a surgical practice will not. A companion animal practice may have just 2 laboratory general ledger accounts (in-house labs and reference labs) while a mixed animal practice would benefit from further delineation separating out their companion animal diagnostics from their large animal from their equine laboratory revenues.


Can you be successful without a veterinary Chart of Accounts? Absolutely—many practices are. But if you’re looking for deeper insights, better decision-making tools, and a path to long-term profitability, adopting a specialized Chart of Accounts could make a significant difference. Partnering with the right veterinary bookkeeper and veterinary accountant can amplify these benefits, identifying and recording the details of these transactions accurately and appropriately. 


Curious about how a veterinary Chart of Accounts could impact your practice? We can guide practice leaders through the basics, help you set up a solid foundation, and show you what’s possible before making any long-term commitments. Before you hand over those bank statements, let us walk you through what the value this change will bring to your strategic growth.


Get your financial house in order so you can focus on what you do best—providing exceptional care to pet owners and their animals! 🐾

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