Helping you make healthy business choices
As a GP, Dentist or Practice Manager, financial management can be challenging when you are running a busy practice and trying to make time for your patients. The medical and dental industries have many complex, sector-specific accounting and tax rules, so having robust systems is crucial.
At Approved Accounting, we serve many professionals in the healthcare industry and can help you manage your finances effectively. We can help you set up reliable and efficient accounting processes, guide you on industry tax legislation and take care of day-to-day basics like bookkeeping and payroll.
With an eye on the future, we can also offer more strategic accounting services. For example, if you are looking to expand your practice, you could benefit from regular management reports to guide business decisions and tax planning to help save costs.
When it comes to your own finances, we’re here to help with personal tax affairs and advise on pension contributions (including NHS schemes) to help secure your financial future.
Profitable practices
Whether you run an independent practice or work as a consultant, Approved Accounting is your ideal accounting partner. Here are just some of the ways we can help your practice or consultancy business to become more profitable:
- Assistance with setting up a new practice or expanding an existing one.
- Preparing your business and personal accounts.
- Helping you manage and plan your National Insurance contributions.
- Offering cost management advice and forecasting/budgeting services.
- Advising on personal financial planning strategies and pensions.
- Helping negotiate and structure agreements for the incorporation of new associates into an established practice.
Accounting services for Doctors, Dentists & Healthcare Professionals
Approved Accounting offers a full range of core and specialist accounting services to GP practices, locums, salaried doctors, dentists and pharmacists.
Maximising income and controlling costs
Using innovative financial software, such as Xero, you can closely monitor your expenditure and income to keep your cash flowing and your costs at a minimum. Xero provides a live view of your financial position, from which we can create cash flow forecasts and budgets, as well as identify operational efficiencies and cost savings.
Systems support
We can offer a complete or partial outsourced accounts department to help look after day-to-day tasks, such as accounts receivable and payable, payroll, drawings, tax liabilities and workplace pensions. With your numbers under control, you can focus on your work and take advantage of business opportunities with confidence.
Protecting your pension and future planning
We can help you understand the nuances of the NHS pension scheme and keep you updated with changes in legislation so that you can make informed decisions about your future. We can also help to minimise your tax liabilities and pave the way for effective succession planning.
Governance control
If you have investors or shareholders, it is essential that your business stands up to scrutiny. At Approved Accounting, we can help you fulfil your statutory duties and manage internal governance to avoid unwanted surprises.
Business growth
We offer a full range of business advisory services to provide strategic guidance, insights, and support, helping you to navigate challenges, capitalise on opportunities, and grow your practice sustainability.
Why choose Approved Accounting?
We are an independent accounting practice with a growing number of happy medical and dental clients. Our extensive accounting and medical industry knowledge allows us to keep our healthcare clients informed, compliant and up-to-date with ever-changing tax legislation.
At Approved Accounting, we aim to build strong relationships with our clients and become an integral part of their business success. Our team of accredited accountants and tax advisers deliver a truly bespoke and personal service to our clients on a fixed-fee basis and without any hidden costs.
To find out more about our services and fees, please get in touch with Approved Accounting today.
