At Peak Strategies we love our financial reporting, however what is more exciting is analysing the results. This package is designed to give us the opportunity to sit with our bookkeeping clients on a quarterly basis. This can include discussions about new procedures, cost saving exercises or merely a chance to catch up about the pharmacy. Having a sounding board can be so powerful and will help with the growth of you business. We will work together in a partnership to improve the livelihood of your pharmacy.
The service includes;
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 stored in a safe and protected environment that only management can access.
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.
7. Quarterly meetings to discuss the results and your pharmacy's performance for the past quarter. Action plans and minutes available for each meeting.
Each pharmacy is different, and each owner is different. Therefore, the above systems and procedures will always be adapted and adjusted to suit the owners needs and the businesses requirements.