Managing a chiropractic clinic is no small feat. Your time is split between providing exceptional care for your patients, overseeing day-to-day operations, and finding some semblance of work-life balance. Somewhere in this mix, managing your business finances often takes a backseat. Yet, accurate bookkeeping is essential to keep your clinic compliant, financially healthy, and positioned for growth.

One of the most common questions I hear from chiropractors is: Should I use spreadsheets or invest in accounting software for my bookkeeping? Today, we’re diving into the pros and cons of both to help you make the best decision for your practice.

Spreadsheets

Spreadsheets, like Google Sheets or Excel, are often the first go-to for small business owners. They’re accessible, low-cost, and flexible. But are they enough for a chiropractic business?

Pros of Spreadsheets

1. Affordability
   Google Sheets is completely free, and Excel is relatively low-cost with an Office 365 subscription. For new chiropractors trying to keep startup costs down, spreadsheets might seem like an appealing choice.
2. Simplicity (At First)
   Spreadsheets are easy to set up and don’t require you to learn complex systems. You can input income, expenses, and other financial data manually. Plus, Google Sheets allows real-time collaboration, which can be helpful if you work with a bookkeeper.

Cons of Spreadsheets

1. Steep Learning Curve
   If you’re new to formulas, tables, and other spreadsheet functions, you may find yourself frustrated and spending countless hours troubleshooting.
2. Lack of Scalability
   Spreadsheets are not built to handle the increasing complexity of a growing business. As your transaction volume increases, manually inputting data becomes time-consuming and prone to errors.
3. Minimal Reporting Options
   Spreadsheets can give you a basic profit and loss statement or balance sheet, but creating detailed reports (like year-over-year comparisons) is cumbersome.
4. Higher Risk of Errors
   Formulas can break, formatting can get messy, and human error is always a factor. Mistakes in your bookkeeping could lead to compliance issues or missed deductions.
5. Limited Professionalism
   If you’re applying for a loan, seeking investors, or preparing for an audit, presenting your financials as a spreadsheet is far less professional than using reports from accounting software.

Why Accounting Software Is the Winner for Chiropractors

While spreadsheets have their place, cloud-based accounting software like QuickBooks Online offers far more benefits for managing your chiropractic clinic’s finances effectively.

Pros of Accounting Software

1. Time Savings Through Automation
   Most accounting software can link directly to your bank accounts, credit cards, and apps like Amazon. Transactions automatically import and can be categorized with rules you set.
2. Detailed Reporting
   With just a few clicks, you can generate reports to compare financial performance over time, track expenses by vendor, or analyze cash flow trends.
3. Ease of Collaboration
   Accounting software allows you to add your bookkeeper or accountant as a user, giving them secure access to your financial data without sharing passwords.
4. Professional Presentation
   Financial statements generated by accounting software are clean, detailed, and professional, which is critical for audits, loan applications, or when selling your business.
5. Digital Storage

Many software options allow you to upload receipts and attach them to transactions, making audits or year-end reporting far less stressful.

1. Mobile Accessibility
   With apps for your phone, you can track mileage, upload receipts, and check financial data on the go.
2. Scalability
   Whether you’re a solo practitioner or managing multiple locations, accounting software grows with you. As your transactions and financial complexity increase, the system keeps pace effortlessly.

Cons of Accounting Software

1. Cost
   There’s no getting around the monthly subscription fee, but since chiropractic businesses don’t require advanced subscriptions, you can find software that’s reasonably priced. For QuickBooks Online, I recommend their QuickBooks Simple Start subscription which is around $30/month. With my QuickBooks Online affiliate link, you can get a great discount.
2. Learning Curve
   Accounting software has more features than spreadsheets, which means there’s more to learn. However, many software providers offer tutorials and resources to get you started. If you DIY your bookkeeping there’s even more to learn.
3. Reliance on Internet Connectivity
   Most modern accounting systems are cloud-based, so if your internet goes down, you may temporarily lose access. But lets be real, how often does that actually happen?

Why Chiropractors Should Choose Accounting Software

For most chiropractic practices, the pros of accounting software far outweigh the cons. The ability to automate, organize, and scale your bookkeeping system ensures that your financials stay accurate and up to date. With fewer manual tasks, you can focus more on your patients and less on crunching numbers.

Even if you’re just starting out, investing in software like QuickBooks Online can save you time, stress, and potential errors down the road. Plus, its reporting capabilities provide insights that help you make informed business decisions.

When it makes sense to use a spreadsheet

If you own real estate in addition to running your clinic, a hybrid approach may make sense. Small real estate ventures with minimal transactions can often be managed with spreadsheets, while your clinic benefits from the robust features of accounting software.

Bookkeeping is the foundation of financial clarity for your chiropractic business. Choosing the right tools can set you up for success and prevent costly mistakes. While spreadsheets can work in certain scenarios, accounting software is the better option for most chiropractors—helping you stay organized, compliant, and professional as your business grows. Remember that the key is to have accurate and up-to-date bookkeeping in order for it to benefit you in your chiropractic business.

If you’re ready to upgrade your bookkeeping system, check out my discount link for QuickBooks Online and start managing your clinic’s finances like a pro.