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Income Allocation Formula
Our Income Allocation Formula Services
A successful partnership needs a clear, fair, and adaptable plan for how income is shared. Tuatara’s Income Allocation Services help you define exactly how profits will be split, when distributions will be made, and how to adjust the formula as your practice evolves.
We guide you through building your allocation model, factoring in practice revenue, expenses, and each doctor’s role—so every partner understands how and why they’re getting paid. The result?
Greater clarity, transparency, and trust.
Accounting + bookkeeping Qualifications
Practice Size and Dynamics
Our accounting + bookkeeping platform services are best for single location practices with 1 - 4 owners, located anywhere in the US, with annual production (including hygiene) of $1-5M. We currently serve all specialties except Oral Surgeons.
Payroll Providers
To qualify for Tuatara bookkeeping services, you must be using one of the following payroll providers, or be willing to transition to one of these providers during your 90 day onboarding period.
- ADP
- Paychex
- Paylocity
- QBO Payroll
- Gusto
Banks
We know there are many options for banking, and often those options are tied to practice or real estate debt. As such, we do not have an exhaustive list of which banks are part of our platform options. Instead, we just require that any banking relationships you have are able to be synced to your Quickbooks Online file. We will confirm your banking relationships comply during our Pre-Engagement Assessment.
Credit Cards
We encourage practices to keep it simple with credit cards. All cards are required to be business, not personal, cards and be able to be directly synced, including "child" accounts, to your Quickbooks Online file. We will confirm your credit card relationships comply during our Pre-Engagement Assessment. If your practice has an excess number of cards, we will propose a simplified process that must be in place by the end of your 90 day onboarding process.
Check Writing
All checks, including patient refunds, must be written from Quickbooks or BILL. Handwritten checks are not allowed for our platform service practices. If checks are currently handwritten, we will train the team on printing checks from QBO during our 90 day onboarding process.
1099 Reporting
All of our clients are offered the option for the Tuatara Platform team to prepare and file Form 1099s on the practice's behalf. Please indicate on your engagement letter if you would like to have Tuatara file these forms on your behalf. Form 1099 filing is done for an additional fee per form filed, as detailed in the engagement letter.
Compliance Services
If your current bookkeeper is maintaining any of your current compliance services, we want to ensure you have a plan for who will manage those services going forward once you transition to the Tuatara platform. In some, but not all, circumstances, Tuatara may be able to add these services to our engagement. We will review these services during our Pre-Engagement Assessment to be sure you have a provider prior to initiating the transition onto our platform.
Some examples of these services include:
- Personal Property Tax Filings
- Census Data collection and/or reporting
- Sales and Use Tax Filings
- Unclaimed Property Filings
- Fixed Asset Listing Maintenance
- Payroll Processing
- 401k or Retirement Plan Management
- Accounts Payable/Vendor Invoice Payments