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Book keeping

Discussion in 'Practice Management' started by Princesspod, Mar 4, 2015.

  1. Princesspod

    Princesspod Welcome New Poster


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    Do any pods out there with private practices do their own book keeping? I want to reduce cost by doing it myself but it's looking a little more complex than I thought! Single or double-entry? Any good, inexpensive software packages or can I just use Excel? We have 3 practitioners, sell shoes, go to nursing homes, so it's quite a busy practice...
     
  2. horseman

    horseman Active Member

    Hi,
    Take care that when reducing costs that you don't end up paying more. Consider the lost earnings while you plough through the RTI PAYE or administer the pension scheme each month... :confused:Heavy fines if you get it wrong:eek: Sage do a good package and most accountants will be grateful if you use it, not inexpensive though. I would suggest your time is better spent treating patients than entering data. Sage can be a powerful tool when deciding which way your business should go. Employ the right part time book keeper and save yourself a lot of hassle. I suppose another way to put it is: did you train as a Podiatrist or as a book keeper? Do the work, employ a good bookkeeper and keep the stress level down.

    Cheers

    Tom
     
  3. Princesspod

    Princesspod Welcome New Poster

    Thanks for the advice Tom, some good points to think about there.
     
  4. toughspiders

    toughspiders Active Member

    I use MYOB essentials online,,, good for me, i have done my own book keeeping and bas's now for some time, and my accountant likes it at tax return time.. costs around 39-49 bucks a month i think, not sure how much in the uk though..depending on whether you have staff to pay
     
  5. Don ESWT

    Don ESWT Active Member

    With most accounting packages going to the CLOUD YUK shortly you will not be able to by a simple disc.
    Packages out there

    MYOB
    Reckon/Quicken - Quick Books
    Xero -$25 simple $50 -$60 per month Free Trial available
    Depending on country you are in

    Read the fine print and check with your accountant
    Storage of data, patient data base, suppliers, CAN YOU MOVE OR DO YOU LOSE IT!!!!!!!???????

    It is a mine field out there. Good Luck


    Don
     
  6. HJobling

    HJobling Member

    Just wanted to give you another option or something else to consider.
    Rather than buying an accounts package, you could consider looking at a Practice Management System, that includes accounts. There are lots of different providers. But I confess I work for Tynedale Computers which is a family run business based in the NE of England. PPMS Podiatry is our Practice management system that is designed for a Podiatry Practice.

    PPMS Podiatry includes a double entry accounting system. It will automatically process your sales fees for your patients but it can also deal with care home and insurance companies. There is also the option to process all of your purchase invoices and other payments such as salaries to produce a full set of accounts. At the end of your financial year PPMS Podiatry will transfer all of your accounting data into an excel spreadsheet for your accountant with separate tabs for each of the different financial reports. PPMS Podiatry won?t calculate your PAYE for you but the Inland revenue provide a free software package for this which automatically submits your returns.

    Please forgive me jumping on this thread, I just wanted to give something else to consider
     
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