Accounting for Freelance Psychologists: Easy Quarterly Closures

Keeping the accounts of your psychology practice up to date can be a task that consumes a lot of time and resources (financial because you need to hire a tax and accounting department). However, with the help of Eholo, you can greatly simplify this process and focus on what really matters: caring for your patients.

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Accounting for Self-Employed Psychologists

As a self-employed psychologist, you are required to keep a detailed record of your income and expenses. This includes not only sessions with your patients, but also expenses related to your activity, such as office supplies, training, office rental, and others.

In addition to the daily records of income and expenses, a crucial aspect of the accounting of any self-employed psychologist is the carrying out of quarterly closures.

Los quarterly closures involve submitting certain documents to the Tax Administration to report on your economic activities during that period. The necessary documents vary depending on the individual tax situation, but generally, a self-employed psychologist will need to submit the following:

1. Model 303 (IVA): This is the main document submitted for the quarterly Value Added Tax (VAT) return. It details the income and expenses of your activity, as well as the VAT charged and incurred during the quarter.
2. Model 130 (IRPF): This is the form that self-employed workers use to make fractional Personal Income Tax (IRPF) payments during the year. The payments are based on the benefits of your activity, and serve as advances on the final personal income tax payment that will be made on the annual return.
3. Record of Issued and Received Invoices: In order to fill out forms 303 and 130 correctly, it is necessary to keep a detailed record of all invoices issued and received during the quarter. This record must contain information about the date of issue, the concept, the amount and the corresponding VAT.
4. Investment Asset Book: If you have purchased any investment property for your business (such as a computer or a car), you must keep a record of these assets and the VAT incurred on their purchase.

Managing all of these documents and processes can be a challenge, especially when you're trying to focus on your work with patients. This is where Eholo comes into play.

How does Eholo become your virtual accounting assistant?

Eholo can help you keep a detailed record of your issued and received invoices, simplifying the process of filling out forms 303 and 130. Our platform allows you to automate the issuance of invoices, which not only saves you time, but also helps you avoid errors that could lead you to face fines or penalties. Of course, you also have a section where you can add any type of expense you have to your consultation, making this whole process that can be so tedious a lot easier. Eholo allows you to download this entire list of sessions, invoices and expenses in excel format, so that you can send it directly to your manager.

In addition, thanks to appointment management and payment tracking, Eholo can be a valuable tool for keeping track of your income, helping you to make a more accurate estimate of your fractional personal income tax payments.

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Accounting doesn't have to be a burden

Accounting may seem like a challenge, but with the right tools, it can become a key point for the growth of your practice.

Eholo can be a great ally in managing the accounting of your practice, making it easier for you to manage quarterly closures and allowing you to focus on what really matters: the care of your patients.

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Book a call with our team and they will advise you personally through this link: https://eholo.health/centros/eholo/claudiaperalta?offer=655

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