Budget planning, management accounts and payroll
Look at our section on Financial systems for a better idea of our approach to budgeting for doctors.
It is surprising how few businesses have cash flow forecasts that are prepared and updated on a regular basis, and there tend to be even fewer medical businesses running these forecasts.
This is a crucial management discipline, so we not only offer our support to hard pressed practice managers to help prepare these forecasts for them but, if the business wants to do the work themselves, we offer our clients a free copy of our spreadsheet template for them to adapt and use as they wish.
We offer back office support to our clients who want us to prepare regular monthly management accounts (on time) showing comparisons to budgets and to cash flow forecasts, using software that can be accessed 24 hours a day from anywhere in the world (provided you can get an internet connection)
Our management reports are presented with Graphs, to make them easier to read and understand any trends and variances to budgets.
Payroll Preparation and RTI submission
We have a dedicated payroll bureau offering wages preparation and payment by BACS, if required.
Payroll is so important and takes up so much time to prepare, so now with the apparently draconian penalties that will arise from non compliance with the new RTI submission rules, we are finding increasing numbers of clients asking us to release them from this burden.
Contact Michael Ogilvie and ask for a free copy of our “budgeting template” to work out what income you need to generate to cover your costs and provide the drawings the partners need to live on.