Bookkeeping and compliance and reporting.mentoring.png

This package is designed to have Peak Strategies handle all your bookkeeping compliance and reporting.

You will have pharmacy specialist Chartered Accountants oversee all your accounting. Working with a team who fully understands and immerses themselves within your industry is a great asset to your pharmacy. There is also the bonus of quarterly meetings to discuss strategies in improving your bottom line, tax saving opportunities or bookkeeping.

The package is designed for convenience but more importantly, GROWTH. 

The package is made up of the below to services:-

Bookkeeping

1. Monthly fully reconciled financial statements for all entities by the 21st of each month.

2. Reconcile the following accounts each month – bank accounts, credit cards, PBS Debtors, Customer debtors, inter-store accounts, GST, Wages/PAYG Withholding/Superannuation,

Trade Creditors and supplier payments, employee entitlements, business loans, Dispensary Sales and Retail Sales. We will also separate all High Cost drugs and Nursing Home Sales and Purchase costs to enable better reporting and understanding of store performance.

3. Supplier invoices reconciled each month and payments made either on 24th or 29th of each month or as required. We can either provide ABA files to you to pay, or we can load the payments on your internet banking facilities for you to authorise or we can authorise payments. It is your choice as to what you prefer. All bank account access and authorities will be kept by myself and stored in a safe and protected environment that only I can access.

Our team is led by John Thornett who has over twenty years experience in the pharmacy industry.

4. Set up a dedicated email address for the business to receive all supplier invoices and statements. Also, we will be the contact point for suppliers to discuss payments.

5. Monthly KPI reporting comparing monthly KPI’s to the same month last year with quarterly industry benchmark comparisons.

6. Set up Dropbox or OneDrive facilities so you, your team and ourselves can access all invoices, statements, and monthly reports. Separate files will be set up with different access and permissions to protect confidential information.

Compliance

Annual Compliance, being year-end financial statements and tax return for each entity. The compliance also includes annual tax planning for the financial year.

Quarterly Mentoring Meeting

Quarterly meetings to discuss results for each store. This can include budgeting, goal setting and discussions about store results. Action plans and minutes available for each meeting.

Each pharmacy is different, and every owner is different. Therefore, the above systems and procedures will always be adjusted to suit the owners needs and the businesses requirements.