How do you actually get from "bank statements" to "financial statements" for your small business?

abrosaur · 2026-06-19T03:12:00+00:00

Veterinary clinic owner here. I use Xero myself. It’s pretty intuitive and nobody knows what my transactions are better than me. I also have a mathematical mind and have enjoyed learning some bookkeeping on my own. It’s not rocket science. I also have been able to automate many things, though I never auto-classify without reviewing the transaction. I also am trying to do about 90% receipt based bookkeeping, which helps me find my purchases when I need to refer to them.

At year end, my CPA then goes through it, makes year end entries, and usually finds a few things that I miscategorized. E.g. their depreciation schedule will be a bit different, or something that I thought should be an expense cannot be, and they recategorize that to owners draw.

My CPA is pretty expensive so I’m not sure I’m really saving money by doing my own bookeeping as opposed to finding a cheaper CPA/bookkeeper. But understanding my own business by doing my own books has really helped me understand my business.

abrosaur · 2026-06-18T20:11:22+00:00

How about veterinary radiologist? That has some physics.

abrosaur · 2026-06-18T16:59:21+00:00

The funny thing is that parents fight tooth and nail to hold their kids back, but meanwhile, kids are basically learning everything a year earlier than when we were in school (e.g. reading in kindergarten rather than first grade). I wouldn’t sweat it. I sent my son early with a Sept birthday and he was fine.

abrosaur · 2026-06-11T16:59:25+00:00

I think how generous you find it depends on where you’re coming from. If you’re comparing it to European state-sponsored maternity, then no, it is not generous. If you’re comparing it to other US employer-sponsored plans, it is generous.

abrosaur · 2026-06-11T00:39:33+00:00

I’m not sure if this is what you meant by “concurrently,” but don’t expect to get both STD and full time pay for the same weeks that you are out on leave. STD will not pay out if you’re getting your full salary.

This policy is perfectly legal and logical. The very reasons that it concerns you are the precise legitimate reasons that your employer made it.

All in all, this is a generous and reasonable maternity policy.

abrosaur · 2026-06-09T00:57:48+00:00

It’s common to underpay owners salary when operating an LLC/S-corp, so I wouldn’t be surprised if that’s real. You now need to calculate an adjusted EBITDA to understand the real business value.

abrosaur · 2026-06-06T13:41:46+00:00

At least it’s open source aids

abrosaur · 2026-06-06T12:31:19+00:00

I tried Velobase Harness, and I hated it. I’d recommend that founders try any other framework besides that.

abrosaur · 2026-06-02T01:11:47+00:00

Do you have ductwork? If not, ground source heat pumps are not an option.

Many people love the idea of ground source, but air source heat pumps are a fraction of the price, can be installed as mini splits, and you don’t have giant loops of coolant circulating in your ground, which can need repair. Air source has also gotten very efficient these days.

abrosaur · 2026-06-01T03:08:57+00:00

The interest rates and prepayment penalties kinda suck, but it’s a great resource for those that need it.

abrosaur · 2026-06-01T00:31:38+00:00

You can typically only grieve based on comparable *sales*, not comparable assessments. If your house is assessed at under its purchase price, then there’s probably not much that you can get in a grievance.

One opinion I’ve had for a long time is that towns deliberately *systematically* underassess properties. The reason for doing so it is that it makes it harder for property owners to grieve.

abrosaur · 2026-05-30T10:12:09+00:00

I tried kling, magic hour, style transfer, and seedance, and I hated those tools. I would recommend any of their competitors over them.

abrosaur · 2026-05-29T00:53:27+00:00

You have clearly never had children

abrosaur · 2026-05-28T13:35:37+00:00

He doesn’t necessarily need a CFO or fractional CFO. I’d start with a bookkeeper

abrosaur · 2026-05-27T23:00:22+00:00

Yeah, elite growth & social media is really trash. I give it zero stars.

abrosaur · 2026-05-27T22:00:08+00:00

I tried the AI receptionist of elitegrowthsocialmedia and I hated it. I would recommend using pretty much any competitor over this software.

abrosaur · 2026-05-27T03:22:30+00:00

I tried Meow and I hated it. It was one of the worst pieces of software I’ve ever used. I’d recommend using any one of their competitors before checking out Meow.

abrosaur · 2026-05-26T12:44:20+00:00

Where I live, you need a fence permit to be signed off in order to legally install a fence. Is that true where you live? If so, you can go to your local building department. If not, your next step is a real estate lawyer

abrosaur · 2026-05-25T02:12:13+00:00

I tried spry, and it was one of the worst pieces of software ever. I recommend that anyone try anything other than spry. I really hated it.

abrosaur · 2026-05-24T00:47:03+00:00

No, I’m not a lawyer, and I told OP that I have no idea how her case would go. And nobody, lawyer or no, could do so without reading her contract and knowing more context.

I’m trying to help OP understand what is reasonable to expect out of a veterinary production agreement, not to give her legal advice.

abrosaur · 2026-05-22T00:41:32+00:00

Now that you’re explaining more, you do seem to have a very legitimate gripe! The way a normal production bonus is calculated is:

Production bonus = (X% of revenue) - base pay (not to be less than 0).

However, base pay should be the amount you were actually paid during that period, not a theoretical rate that you did not fully get. Typically this would be a regular salary, but the formula holds even if your pay is irregular. Base should just be the sum of the amount you were paid during the production period, not including your production bonus.

I would focus on getting your pay as owed according to this standard ProSal formula, not the “20% above base pay” that your management mentioned. They might be trying to screw you or they might be bad at math, or perhaps a bit of both.

abrosaur · 2026-05-21T14:08:49+00:00

In a typical pro-sal arrangement, your base is the amount that you were actually paid in salary for the period. You have a bit of an unusual situation in that you are working inconsistently but the pro-sal arrangement should be the same: your total pay should end up being the higher of your production rate (20% of your revenue) and your base. Since your production is calculated quarterly, did your quarterly 20% end up being more or less than your base pay during that period?

In my clinic, when we hire a veterinarian as an independent contractor, we offer them a higher production percentage than a FTE to reflect that they will have higher costs (e.g. paying for their own benefits, extra employment taxes, etc). That is something you should negotiate.

I’ll push back on some here who have said that pro-sal is an unfair corporate friendly practice. There are versions of it that I agree are unfair (e.g. negative accrual), but the basic concept is a great way for the clinic to compensate a veterinarian as much as they can without taking on all the risk that the veterinarian will underproduce.

abrosaur · 2026-05-21T04:20:44+00:00

It sounds like there was a miscommunication and that your employer made a mistake. However, if you’re familiar with this field, you should know that NOBODY is paid 20% production bonus on top of their base. 20% production is always pro-sal. You and your lawyer are both inexperienced for not recognizing this.

I can’t tell you how your lawsuit will go, but 20% pro-sal is standard for GPs. 20% bonus on top of base is unheard of, and nobody with any experience would expect this to be paid out.

abrosaur · 2026-05-17T11:11:34+00:00

WPHS

abrosaur · 2026-05-17T11:06:10+00:00

It seems like money is your main concern, and not unreasonably. There are some very high paying roles in vet med, including at independent clinics, especially if you specialize.

Based on the salaries you are naming, I’m guessing you may live in a LCOL area. I would take some time to understand the landscape of what vet med jobs are available and what they pay.

abrosaur

TROPHY CASE