Getting the most out of the accountants visit

At this stressful time of year, the NHS year end the practice accounts year end, of coincide. Its important therefor to get the most out of your accountants visit during this very busy period as practice managers often feel under pressure.

All the paperwork to have ready:

– Invoices

– Receipts

– Bank statements and loan statements

– Bookkeeping up to date and reconciled with a list of unpresented lodgements and expenses provided

– Stock take at year end

Payroll records

– Outstanding payments

– Outstanding income

– GMS/PMS/APMS statements

– Profit shares and capital shares

– Prior shares and charges

– Then there’s organising the partners:-

– Have they completed their personal expenses?

– Have they completed their tax questionnaire?

– Are their company accounts up to date?


The key to making the most of the accountants visit is not to panic and speak to your accountant before the visit. Ensure you have everything needed before hand. This will leave more time for discussing any issues that might have arisen with bookkeeping practice matters or anything the partners have been concerned about. There may be other services we could provide to address or solve issues or help with planning.


Can you delegate? Often much of the information needed by your accountant may be able to be produced or provided by another member of staff, easing the workload on the practice manager.


Can some of the work be done before the visit? Many of the bookkeeping packages in use today have the ability to import transactions directly from online banking meaning the bookkeeping can be updated in almost real time (for example QuickBooks Cloud Accounting adapted by us for GPs). If backups or access can be provided to the accountant before the visit then some problems and queries can be addressed earlier leaving more time free whilst at the practice.


Having a specialist healthcare accountant will of course smooth the process with technical expertise and resource specific to the healthcare sector.


Ensuring the partners are aware we are visiting so that they can ask any questions they have, in person or request assistance in completing questionnaires etc…


It’s a good time to discuss bookkeeping packages and recommendations, the practice plans going forward, decisions on income stream profitability and costs reductions, leaving and joining partner consequences, property issues.


It is important to remember that we aren’t just coming to check your bank reconciles, we are here to help.


If you would like to learn more on the subject, please email Catherine Hough. To read more of our medical blogs, click here.