If you own a pharmacy then your bookkeeping needs are unique. There are times you need to focus and times to dream. In business, you must have time for both.
But focusing in a busy pharmacy environment can be difficult. Distracted staff make mistakes and take longer to get the job done. A distracted bookkeeper could cause serious short-term and long-term problems for the business.
Focused work staff
By eliminating the distractions of the office from their jobs, places that take bookkeeping jobs are able to provide clients with more focused work. It’s hard for a bookkeeper to do their jobs around the hustle and bustle of a business—removing them from the site by outsourcing not only helps you focus on your business, it helps them focus on your business as well. Reference
Pharmacy's need specialised accounting
If you’re looking for an accounting firm for your pharmacy you need to find a firm that is focussed on the pharmaceutical and medical industries.
By being industry specific, they can focus on all of the industry specific changes in the taxation laws that could save you a lot of heartache.
Team staff versus individual
When you outsource your bookkeeping, you’re placing your financial records in the hands of a staff that thrives on teamwork. Unfortunately, one bookkeeper is often not enough to find every subtle nuance that can benefit your company. But when you outsource, you have a team of workers and managers checking and double checking each other’s work, helping to ensure that you receive the best services possible. This also helps keep a separation of duties i.e. HR and purchasing are as individually accountable as credit services and customer care. When you have your sections running smoothly, they form together to produce a better and more cohesive unit. Reference
Most people work in jobs that match their skills
People gravitate to industries they like and fit their particular skill set.
Pharmacists choose what they do because they the constantly enjoy the evolving and challenging world of pharmaceuticals. They are also likely to want to help people.
Focus and attention to detail
Bookkeepers love bookwork. They love numbers. And most of them want to help people too.
However, pharmacys need to look for a special accounting firm because their needs are quite unique.
When you outsource your bookkeeping and accounting needs to an accounting firm that is a an industry specialist they are not distracted by having to service a multitude of clients all with different needs.
This focus helps them to ensure that they can help you reach your business goals because because they keep up-to-date with current industry trends that means that your pharmacy is operating at an optimal level.
Access to top systems
Outsourcing your bookkeeping operations gives you more access to the top tools in the industry. Most businesses can’t afford to pay for the extremely expensive bookkeeping programs nor can they afford to spend the time keeping up with changing laws and regulations. By outsourcing, you’re essentially purchasing those tools and that knowledge by proxy, but it’s even better—you don’t have to actually do any of the work! Plus, these top systems create nightly backups and keep organised records and books for years, ensuring that if the taxation Department ever does come knocking for an audit, you’ll be more than prepared for them. Reference
Modern cloud based accounting is essential
If you are not using the most up-to-date cloud based accounting systems, your business may not be operating as efficiently as it could be. The latest cloud accounting systems used by competent accounting firms offer their clients current up-to-date systems that provide reliable and current anytime access to reports on your pharmacies financial status.
Finally, outsourcing your bookkeeping allows you to expand or cutback in the blink of an eye. Whether you’re looking to grow your business or cut down on spending, having a reliable team at your behest, providing you with different plans and options will help you achieve your goals. Outsourcing provides flexibility that in-house bookkeepers just can’t provide.Peak Strategies - an accounting firm specialising in the pharmaceutical and medical industries
Teamwork works! (We will help you take your business to new heights)
For more information on how to take your business to new heights with a dedicated team to support you contact us now on 9315 3117 or email John Thornett from Peak Strategies, specialists in the pharmaceutical and medical industries and get your team working for you.
Peak Strategies - taking your business to new heights