FAST FACTS

Bookkeeping costs reduced by more that 25%

Wages reduced by 3%

Prior to Successful Alliances taking over the bookkeeping role in 2018 the bookkeeping was completed by a part time employee. 

We have been able to reduce the bookkeeping cost by over 25% and the percentage spent on wages/turnover has reduced by 3%.
On commencement Successful Alliances reviewed and streamlined processes.

The key areas we concentrated on were:
*  The reconciliation between the Practice Management System (Medtech) and the accounting system. This resulted in a more accurate collection of Practice Facility fees and an automated approach to Doctor payments.

*  Automating the accounts payable. This resulted in less data entry, less paper filing & the security of knowing all supplier invoices are electronically stored & fully searchable.

*  Implementing an electronic timesheet system that allows for accurate clock on/off times for staff, allows for leave to be requested & approved electronically and automates the payroll process, saving time & reducing the wages bill as a percentage of income.

The next stage was to prepare a budget & cashflow which is reported against quarterly to ensure the practice is tracking and growing as expected. Any discrepancies against budget are quickly addressed. This provides the owner doctors with a level of certainty regarding their monthly and quarterly distributions .