Veterinary Practice Accounting: Drug Stock, Client Debt and Practice Profitability
Introduction A four-vet companion animal practice closes its year on £1.9m of turnover and a profit the partners are pleased with. Then the reviewer starts pulling threads. The stock figure came from the practice management system, not a count, and health plan direct debits were booked as income the day they landed. There is more. […]
Care Home Accounting: Occupancy, Fee Income and the Agency Staff Problem
Introduction A 64-bed nursing home’s September management accounts show occupancy at 91% and the best month of the year. Then the reviewer reconciles the council remittance. Two residents who died in August are still being accrued at the full weekly fee. It gets worse. A resident who moved from residential to nursing care in July […]