Finance

Focus on Finance

Many practice owners have no real idea of how well the business is doing until they receive annual figures from the accountant a few months after the year-end. By this time you may be surprised to see that your turnover and, or, profits have fallen gradually over the year.

There should be no year end surprises and we can help you set up a straightforward, on-line accounting package which will track your income and costs, showing you at any time just how much profit you are making. The package links directly to your bank accounts for quick and accurate updates. You can try it out for yourself here.

We can also help you better understand your accounts and the many ways they can be used to forecast, track and improve your business.

In addition to tracking turnover, it is important to watch some key figures closely to make sure they don’t increase out of line with turnover. Those to watch include associate payments, hygienist fees, lab bills, dental materials and wages

An optional book-keeping service is available, which will take all of this off your hands including a monthly performance report to show how well you are now doing.

At the year-end, reports and summaries are quickly produced for your accountant to check and finalise.