As an Allied Health Business Coach, I often remind clients that it’s not just about managing your business well — it’s about enjoying the process too. While financials might not be your favourite part of business ownership, they’re one of the most powerful tools to harness to drive success.
One simple habit that can completely shift your relationship with your numbers is meeting quarterly with your accountant. Not just check-ins, but real strategy sessions. Done well, they’ll help you understand your financial position, plan proactively, and make more confident decisions. And over time, they’ll help you not just survive as a business owner — but thrive.
Why Quarterly?
Your financials tell the story of your business — and that story evolves every single quarter. Meeting every three months with your accountant isn’t just a nice-to-have; it’s essential. Here’s why:
- It aligns with financial reporting cycles, giving you real-time insight into what’s working and what’s not
- It lets you spot issues early, before they become costly or complex
- It helps you prepare, not just react — by planning for tax, managing cash flow, and setting the right financial goals
To get the most out of these sessions, make sure:
- An agenda is set in advance
- Financial reports (P&L, balance sheet, budget vs actuals) are accurate and distributed ahead of time
- Everyone has reviewed the reports and arrives ready for discussion
- Minutes are captured, actions are assigned, and follow-ups are clear
This isn’t just admin. It’s leadership.
What Can These Meetings Help You Do?
Review financial performance
Gain clarity on your profitability, overheads, and trends — so you can make smarter decisions moving forward.
Adapt quickly
With constant change in the Allied Health sector (hello, funding shifts and regulatory updates), staying agile is everything.
Plan for tax
Quarterly planning helps reduce those nasty year-end surprises and ensures you’re making the most of available incentives.
Manage cash flow
Whether you’re thinking of hiring, upgrading equipment, or investing in training solid cash flow insights help you confidentially make decisions.
Your Accountant Should Be a Partner, Not Just a Number Cruncher
A great accountant will do more than balance your books. They’ll help you grow too. Look for someone who:
- Plans ahead with you, not just reports on the past
- Offers insight and ideas, not just compliance support
- Helps you understand both your business and personal tax obligations (especially if you operate through a company or trust)
- Works closely with your bookkeeper, because good data = good advice
Tip: If they’re not bringing ideas to the table (like grants, incentives, or industry trends), ask for them. And if they send a newsletter, subscribe — you’ll often find gold in there too. The Australian Tax Office even has their own newsletters for small business, too if you wish to sign up to receive those.
Preparation Is Power
These meetings cost time and money so make them count. Before each meeting:
- Review your reports
- Write down your questions (big-picture and small details)
- Be honest about what you don’t understand
If you need help knowing what to ask, download our practical tool: The Accountant Agenda. It includes smart questions, space for notes, and a glossary to help you decode the jargon.
Learn to Love the Numbers
Most Allied Health Business Owners started their business to help people, not to play with spreadsheets and spend evenings number crunching. But the truth is, numbers are where you see the impact of your decisions. The more you understand them, the more confident you’ll feel in leading your business forward.
Your accountant should help you build financial literacy, explain concepts simply, and tailor their advice to your level of experience. Don’t be afraid to ask questions. Get them to draw it out. Keep showing up. You’ll learn more each time. Hands up: It took me three accountants and a lot of late-night Google sessions to get to this point — but now I genuinely love it.
Embrace the Habit
Meeting quarterly with your accountant isn’t a chore — it’s a business ritual that builds your confidence, strengthens your leadership, and supports your growth.
Remember, every number tells a story.
With the right support, you’ll not only understand those stories, but you’ll start to write your own, on your terms.
If you need a little more getting ahead of the numbers, book in a free Power Call with our team. We’re proud to have helped many Allied Health Business Owners achieve their goals – both at work and at home.
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