Year End Bookkeeping Health check

As many practices have a 31 March accounting year-end, we thought it would be a useful time for you to review the following areas whilst bringing together your financial documentation ready to prepare the annual accounts.


Does your bank balance in your specific system match the balance shown on your bank statements? If not, do you have a list of differences or uncleared items at your year-end? This is the most important area for you to check, as if the bank is correct / balances then you know that the majority of your income and expenses have been included.

Income Streams

Have you fully analysed all your income streams, so you do not have large bankings labelled as CCG / NHS in your system, which could be broken down into individual enhanced services categories? This has become a larger problem more recently with local CCGs not sending remittances or making it clear what an amount or deduction was for.

Within income streams, ensuring that your Open Exeter reports match what has been banked is vital. If it doesn’t, ensure that you have the remittance which shows what the extra income or deductions was for and enter this onto your system.

Debtors (Who owed money to you)

At your year-end you should have a list of organisations  and individuals who owed you money for either enhanced services or for items such as insurance reports. It is also useful to know, especially for CCG income, which quarters have been paid as some services are paid a quarter in arrears.

Is  your system able to run an “aged debtors” report? Are all the entries on there going to be paid and if not, should they be written off? Carrying forward old debts can complicate a system and can lead to chasing debts which will not be paid.

Creditors (Who you owed money to)

As with debtors you should have a list of people and organisations that you owed money to at the year-end. The largest ones would normally be for items such as drugs and medical expenses, with some being two or three months before payment is due.

Is your system  able to produce an “aged creditors” report, if so ensure that the list is accurate and does not hold any old balances or small differences which need to be removed.


As close to your year-end date as possible, take stock of all items, including reimbursable drugs, other medical supplies and consumables and stationery. Stationery has become more important in recent years due to the cost of printer and toner cartridges.


Ensure that the software you are using is up to the task and its functions match your specific requirements. With “Making Tax Digital” just around the corner, it is even more important that the software you are using is compliant with HM Revenue & Customs strict guidelines.


These are just a few useful tips. Each practice is different and the systems you use will be unique to you, some of these areas will be more relevant than others. However, if you follow these steps it will give you a head start on your year-end and assist in ensuring the accounts are in the best position to be processed.

Contact us

If you are unsure about how to prepare for your financial year-end accounts or would like more information about suitable cloud based bookkeeping systems, then please get in touch with Chris Ellison, Healthcare Services Assistant Manager, or alternatively contact us here.