Hi Reader,

You probably set goals this year—whether that meant hitting a revenue milestone, cutting expenses, or finally paying yourself more.

But have you checked in on your progress?

A simple budget review (even if it’s not a formal budget) can give you clarity on how your practice is doing—and what to adjust before the year wraps up.

Here are three questions to ask as you review:

Are you on track with revenue? Compare what you planned to earn vs. what you’ve actually brought in. If there’s a gap, you still have time to explore new referrals, increase rates, or book out the rest of the year.

• QBO users: Go to Reports > Profit & Loss and select a report period of This Year-to-last-month to review your actual income.

Are your expenses worth their value? Look at what you’ve spent on things like software, office space, or contractors. You should always feel like benefit outweighs the cost, if not it may not be essential.

• QBO users: In the Profit & Loss report, scroll down to the Expenses section. The Display columns by month view will help you to spot trends over time.

Is your compensation where it should be? One of the most overlooked budget categories is owner pay. If you’re behind, consider what adjustments are realistic for Q4.

• QBO users: Look for Owner’s Distributions on your Balance Sheet or Payroll to Owner on your P&L to see what’s been paid so far this year.

No need to be perfect—just informed.

Reflecting on where your finances stand at this moment can help you make smarter decisions in the last few months of the year. If it's possible, take 15 minutes and do this now!

The Update: News for Your Practice

1) This New Badge Helps You Choose Better Mental Health Tech​

APA Labs just launched a Digital Badge Program to help identify which mental health apps meet clinical, privacy, and safety standards—making it easier for therapists and clients to choose tools they can trust.

2) What to Ask Before You Choose an Accountant​

AI tools are showing up in therapy practices—from note transcription to client engagement—but they come with ethical responsibilities. New guidance from APA offers practical tips to help you use AI responsibly while protecting client trust, privacy, and equity.

3) Best Online Banking Options in 2025​

Forbes ranked the best online banks of 2025 after reviewing 60 nationwide. Bank5 Connect took the top spot for high-yield accounts, cash-back debit, and no fees. Other standouts include Quontic, Ally, and Synchrony for strong APYs and savings tools.

Talk soon,

Emily

P.S. Taking just 15 minutes to review your numbers can bring surprising clarity. If you’re not sure where to look—or what to look for—feel free to reply. I’m here to help.