This 3 hour webinar will give you an introduction to practice finance. It will help you to gain an understanding of the income GP Practices receive via their contract with NHS England such as PCN Funding, core funding and enhanced services, as well as touching on income that may be received outside of the contract.
It will cover some of the basic terminology that may be used in discussions you have with the practice accountants, when discussing year end accounts, and provide you with an understanding of why it is important they have certain pieces of information.
The session will also cover some other topical areas such as cloud accounting, tax, pensions & actions to prevent fraud.
Understanding key items in practice accounts
- What are accounts used for (4 types of profit!)
- Accounting, tax, pensionable, GP Average pay
- Income and expenditure account/ profit and loss account
- Main income streams
Contract changes – 2021/22 and looking ahead
- Overview of main changes
Basics of bookkeeping
- Cash / Accrual accounting
- Importance of bank reconciliations
Good practice in finance
- Actions to take
Other useful things to know
- Partnership agreements
- Payroll / PAYE codes / Pension tier rates
These sessions will be delivered ONLINE using Microsoft Teams
It is essential that you have a camera & microphone to complete this course.