cloud based software

Cloud based software saves Dentist Practice time in bookkeeping

cloud based software

Case Study7th Oct 2020

Contributors

Related services

Our Client 

A Dental Practice Partnership wishing to increase the practice turnover and net profits using cloud based software. Challenges included ineffective out of date management accounts and no timely visibility of annual profits to maximise any tax and wealth planning opportunities. 

Our Approach 

  • Hosted a workshop with the practice manager and principal to fully understand the current processes and operational objectives 
  • Utilised a software driven approach to automate the financial data capture 
  • Provided cashflow projections to support future tax and working capital requirements 

The Outcome 

  • Setting up cloud-based accounting software provided real time, online access to financial information, including monthly management reports and sector KPIs 
  • Integrated the Dental Practice Management Software to the cloud accounting software to track income by associate, principals and hygienists 
  • Tracking of stock levels of surgeries to ensure appropriate stock levels being kept, maximising cash savings to the practice 
  • Moving to the cloud meant AAB helped minimise the time our client spent on bookkeeping and improved efficiencies 
  • Regular tracking of practice performance against the projections enabling the client to focus on the practice’s future goals and produce accurate performance data that enables them to maximise surgery utilisation and minimise costs 
  • Accounting software fully compliant now for HMRC’s Making Tax Digital mandatory reporting criteria 

Sign up to updates

  1. Blog9th Aug 2022

    Changes to Capital Gains Tax for separating couples

    Under the current Capital Gains Tax regime in the UK there are rules in place to allow for transfers of assets between spouses to be deemed to take place at no gain/no loss for Capital Gains Tax (CGT) purposes. That…

    By Jill Walker

    View more
  2. Blog27th Jun 2022

    Additional Dwelling Supplement – am I liable?

    From April 2016, the purchase of a second home not only brought a liability to Land and Buildings Transaction Tax (“LBTT”) but also to Additional Dwelling Supplement (“ADS”) which is a levy of 4% of the property price where that…

    By Jill Walker

    View more

Share this page