At Peak Strategies, we review an enormous volume of pharmacy financial data—whether through our bookkeeping and compliance work or the many pharmacy valuations we conduct annually. One theme appears time and time again: cashflow. Cashflow is king. It is the lifeblood of your pharmacy, and it must sit at the top of your financial priorities.

Can you believe we’re already nearing the end of another year? Christmas is right around the corner, and for those who know me well, it’s no secret that this season is one of my absolute favourites. As the holidays approach and offices across the country prepare for their annual festivities, my thoughts naturally turn to one of the season’s key considerations—entertainment expenses.

The process of selling a pharmacy can be complex and typically requires a team effort involving owners, brokers, lawyers, accountants, bookkeepers, and other stakeholders. Proper planning and coordination can help ensure a smooth and timely settlement. Below are key tasks that should be completed in the lead-up to settlement:

When you walk into a pharmacy, one of the first things you notice is the strong rapport pharmacists often share with their senior patients. You know their grandchildren’s names, which footy team they cheer for, and can recite their long list of medications by heart.

At some point, many of us have thought this, because purchasing a vehicle can be a costly exercise, and structuring it poorly can have negative tax consequences. Also, the reality is we spend a lot of money running our vehicles, and many business owners and even employees use their vehicles for genuine work purposes, so what does the ATO say about claiming motor vehicle expenses.