Support for Veterinary Practice Managers
Practice managers usually inherit the finance function rather than choosing it. You end up owning payroll, stock, invoicing, banking, the practice management system and the monthly numbers, alongside the clinical rota and the client complaints.
We take the parts that need an accountant, give you better tools for the parts that do not, and make sure you are never the only person who can explain a number.
What We Take Off Your Desk
- Payroll
- Run externally with RTI, pensions and statutory pay handled, and reported back in a format you can take to the owners.
- Reconciliations
- Takings against card settlements and bank, wholesaler statements, and the month end close.
- Management accounts
- Prepared and explained, so you present findings rather than assemble spreadsheets.
- VAT returns
- Prepared from the ledgers and filed under Making Tax Digital.
What We Make Easier
Document capture so wholesaler invoices stop arriving as paper. Approval workflows so payments are authorised properly. Tracking categories so branch and department questions can be answered without a manual exercise.
And a named person you can telephone when an owner asks a question you were not expecting.
The Numbers You Get Asked About
Practice managers are usually the person in the room when an owner asks why profit is down, and usually the person expected to know. These are the measures that answer that question, and we make sure you have them before you are asked.
- Gross margin on medicines and consumables
- The first place to look when profit falls with revenue holding. Buying terms, pricing, stock loss and missed charges all show up here.
- Staffing cost by role
- Vet, nurse, support and locum reported separately, so a conversation about team cost can be about shape rather than about headcount.
- Revenue per full-time equivalent vet
- The productivity measure owners ask about most, calculated on a consistent basis so the comparison between months means something.
- Cash and committed spend
- What is in the bank, what is due out and what is committed on equipment finance. The question that arrives with no notice.
Handing Over Without Losing the Knowledge
A great deal of financial knowledge in a veterinary practice lives in one person head, and it leaves when they do. Part of what we set up is written process notes for the routine work: how takings are reconciled, how wholesaler invoices are coded, what happens at month end and who approves what.
That protects the practice and it protects you, because it means going on holiday does not mean coming back to a fortnight of unposted invoices.
Frequently Asked Questions
Will using an external firm make my role redundant?
Can you train our team on the software?
Get Backup on the Finance Side
Tell us which parts of the finance role are taking your time and we will set out what could move.