Spend time with your patients and less on your paperwork with our help
Medical and allied health practices are often juggling the balance of providing quality patient care while ensuring cash flow in the business is healthy, and that accounting documentation is compliant.
Wouldn’t you prefer to spend more time taking care of your patients and less time on paperwork where possible? The team at Colledges Accountants + Advisors provides tailored and specialist accounting solutions for medical and allied health practices. With specific industry requirements, constantly changing regulations, and reporting obligations, it’s not uncommon to lose track of your reporting and documentation.
The ATO has also raised the bar and increased its scrutiny of medical and healthcare practices in recent years. We find that the most common reasons for the ATO to conduct audits are because tax documentation and paperwork are not consistent, and reporting is not up to date and compliant. Often this is simply a matter of implementing procedures in the practice to accurately track the money coming in and money going out.
We help new, existing, or expanding medical and healthcare practices
Whether you’re expanding your current practice, bringing another practice into the fold, or just starting up, it is never too early or too late to set up more efficient business structures, develop sound accounting processes, implement software to help your business stay compliant and develop a business plan to help you grow steadily.
With our experience in medical and allied health practices, we’ll work with you continuously to help you manage and grow your practice. This includes minimising tax, managing cash flow and mitigating cash flow disruptions to ensure the business maintains its profitability.
Are you up to date with your medical bookkeeping?
Staying across your bookkeeping in a busy medical practice can be a challenge if you don’t have a professional bookkeeper to look after cash going in and coming out of the business. Good medical accounting practise starts with accurate bookkeeping. Tracking income and expenses in your medical practice accurately means the rest of your accounting paperwork will be much easier to manage and report.
We have experienced bookkeepers to ensure your healthcare practice remains up to date and compliant so that you can focus on delivering quality patient care.
Is your payroll accurate?
Does your accounting software provide single touch payroll (STP)? Are you up to date with payroll each month and reporting your superannuation and payroll information to the ATO correctly?
With years of specialist experience in medical practices, let us help you stay across your payroll and superannuation reporting.
Book a free 30 min consultation to discuss your accounting needs.
Is your medical practice compliant with paperwork, business structure and tax obligations?
How comfortable are you that your practice is across all new taxation and accounting legislation, or any other changes relating to the healthcare industry? With regularly changing taxation laws, the team at Colledges will work right alongside you to ensure your practice is across changing legislation and reporting obligations.
At Colledges, we offer the following medical and health accounting practice services:
- Taxation strategy
- Cashflow management and projections
- Practice evaluation
- Getting ready for sale
- Practice acquisition
- Service agreements
- Practice business structure
Call us today if your medical practice needs help with:
- Tax strategy and obligations
- GST commitments
- Superannuation reporting
- Payroll tax
- STP management and reporting
Please call us on (03) 9851 6500 or email hello@colledges.com.au . We provide specialist medical accounting support for many medical practices across Melbourne. With our expertise by your side, you can focus on your patients’ needs and provide quality care, knowing that your practice is up to date with accurate documentation and reporting.
