Dental partnership improved finance systems in buy-out
Case Study1st Feb 2022
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Our Client
A Dental partnership going through a buy-out requiring a range of support services
Our Approach
- Liaised with lawyers on partnership dissolution and business transfer agreement to new company
- Provided cashflow projections for partnership buy-out and incorporation, including tax and working capital requirements
- Hosted a workshop with the Practice Manager and Principal to understand current processes and operational objectives
- Handled company set up including Companies House and HMRC registrations
- Implemented cloud based accounting software, providing real time online access to financial data, including monthly management reports and Key Performance Indicators for Practice Manager and Principal
- Provided integration of Dental Practice Management Software to cloud accounting software
The Outcome
- The client now has access to accurate performance data enabling them to maximise surgery utilisation, minimise costs and make informed strategic decisions
- Thanks to cloud accounting software, we minimised the amount of time they would need to spend on day to day bookkeeping, and they have real-time visibility of their finances and future cashflows
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