What is the most efficient way to pull together all the information that your accountant needs to prepare the year-end accounts?

Do you take the ‘tidy as you go’ approach and record the information regularly through the year? With a busy surgery to run, the best intentions of keeping on top of the financial records regularly may not always pan out as envisaged. And how do you persuade the GPs to part with their personal expenses information when you need it?

In this episode of the AISMA Finance Clinic, specialist medical accountants James Gransby, Elaine Mitchell and Kieran Hancock* offer their tips on making the process as painless as possible, including some specific advice for practices in Scotland.

Starting with a discussion about Cloud accounting, before moving onto dealing with the year-end cut-off, the three experts have plenty of ideas to help practice managers keep on top of things. Keeping track of GP session changes, understanding which items of income or expenditure need to be attributed to a particular partner, claiming for working from home allowances during the pandemic, are just a few of the topics under discussion.

* James Gransby, Elaine Mitchell and Kieran Hancock are all members of the Association of Independent Specialist Medical Accountants