Course Objectives:
The aim of this workshop is to provide delegates with a clear understanding of
- the revenue streams available to their practice
- a brief understanding of a set of practice accounts
- how to have a better understanding of your practice finances and performance
- provide an update of current topical matters and problems areas regularly seen by medical accountants
We want this to be an interactive workshop and provide as much help as possible so if you have any questions you would like covered please do let us know in advance.
Points to be covered:
- Basics of book keeping and use of accounts software such as Iris
- Review of a set of practice accounts
- An overview of traditional funding streams
- Characteristics of a high earning practice
- Benchmarking statistics and how these can be useful
- Making tax digital and Cloud accounting – current situation with software
- Problem areas e.g. salaried GP’s, estimate of net profits, superannuation
- Partner drawings, settlement to former partners and current accounts
- VAT (when applicable)
- Q & A Session