Budgeting: Veterinary Chart of Accounts

Leslie A. Mamalis, MBA, MSIT, CVA, owner of Summit Veterinary Advisors, talks about why it is so important to have your financial statements set up on a veterinary chart of accounts. She explains that this type of chart of accounts sets up your income and expenses in a logical way for a veterinary practice instead of some other type of business. A standard chart of accounts will not work for veterinary practices because most of the expense is in cost of goods and in staff, not in advertising or legal.