Excel Financial Tracker for Mental Health Professionals–Intro Video [Show Notes]

Transcript of Excel Financial Tracker for Mental Health Professionals Video

Note: This video is transcribed using AI therefore some errors have occurred in the transcription of this video.

Hello everyone, it’s Alex here from Stressless Therapist and I just wanted to give you a brief update and insight into what the Excel expense and accounting tracker looks like. Here you will notice this is the yearly overview.

There are four different tabs that each tracker comes with and it’s all set up, the formulas are in it so you don’t have to worry about anything except plugging the numbers in. This is what you’re going to be looking at first and all the income and the stuff that you put in here in these blue tabs are going to populate this piece of it.

One thing I do just want to point out here is that you can change the year, so right now you’re in 2022. If I put 2023, the numbers are going to update. I don’t have any data for 2023 in here so that’s why you see it, but if you want to just go back real quick, you put 2022 if you want to keep all your things in the same spot and it shows you with all the finances for that one year.

If you prefer to keep things separate, you can always save this template as your kind of master template and then make copies of it for each year, but then you always have a blank one.

Tab is the expenses, the item descriptions are all in here, your category, so for the mental health professionals, I put a lot of different potential options down right, subcategory, if you have one, you can have that option to build it out here, again subcategory, date purchased, the amount that you paid, we have some dummy numbers at 25, scoot over a little bit in a description of what it is.

So this is really helpful for being able to look back with your account and specifically where are you spending your money, and then you can use this if you are familiar with Excel on how to make some spreadsheets and see exactly how much are you spending on insurance, education, marketing, so you can make sure you’re budgeting your information appropriately.

The invoices tab, there are a lot of different kind of ways that you can either use these or use some of them for myself in my practice since I use Simple Practice, what I do is I put the client’s initials here is where I have it, how much the invoice is, so for example if it’s a hundred dollars for the session, stripe takes out, well they have here five dollars for round numbers, that’s a big thing, it will automatically calculate how much I’m going to get paid before happens.

In this processing fee section is really important from a tax perspective, this way you can use that as a deduction and not have to pay taxes on the processing fees because that’s going to be considered a business expense. If you didn’t want to put clients’ initials here, you can always put a medical record number if you have it, and again,

I leave two options for depending on kind of what your system is. If you’re doing say Alma in Simple Practice, they might have two different invoice numbers, if you want to put the invoice number but then the medical record number again you can update this as you need it.

If you do a lot of driving, you might want to keep track of your miles, this is what you can use that as an expense as well. All of it gets populated into this primary spreadsheet. Hope this helps.

NOTE: I no longer sell the Excel expense tracker as an individual product. The Excel tracker now available as part of the group coaching package.

If you are looking for a bookkeeping tracker, Branden Drake’s Bookkeeping Blueprint (affiliate link) is comparable in the service it provides. Learn more here.

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Hello, I’m Alexandria Theordor, a life-first business strategies helping therapists create a private practice that prioritizes their personal life and values. My goal is to help you achieve the freedom to focus on what matters most: health, wealth, and relationships. Whether it’s through my consulting services or online resources, I’m here to provide the guidance and support you need to succeed in your business endeavors. My aim is to help you gain the confidence and knowledge necessary to launch your own profitable practice.

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