Private Medical: Case Study 4


A Dental Practice Partnership wishing to increase the practice turnover and net profits. Previous advisors were preparing quarterly management accounts from excel spreadsheets generated by Principal. Challenges included ineffective out of date management accounts, no timely visibility of annual profits to maximise any tax and wealth planning opportunities for the principals and minimise alternative cashflow funding requirements for their tax liabilities.

Our Approach

  • Workshop with practice manager and principal to fully understand the current processes and operational objectives
  • Software driven approach to automate the financial data capture
  • Cashflow projections to support future tax and working capital requirements

The Benefits to the Client

  • Provided cloud based accounting software that provides real time online access to the financial information, including monthly management reports and sector key performance indicators for use by the Practice Manager and Principal
  • 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
  • Improved efficiencies in internal processes
  • Regular tracking of Practice performance against the projections enabling the client to focus on the Practice’s future goals
  • Accounting software fully compliant now for future HMRC’s Making Tax Digital mandatory reporting criteria

The Plus Factor in Action

  • We helped our client make money by allowing them to produce accurate performance data enabling them to maximise surgery utilisation and minimise costs
  • We saved our client time by minimising the amount of time they would need to spend on day to day bookkeeping
  • We gave our client peace of mind by giving them real-time visibility of their finances and future cashflows
  • We supported them now and in the future by providing low cost accounting software solutions capable of supporting them to make key strategic decisions for the Practice
More in this category: « Private Medical: Case Study 3
Jill Walker

Key Contact

Jill Walker
Director, Head of Private Client
+44 1224 625111

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