Bookkeeping & Payroll
Feeling overwhelmed by bookkeeping and payroll? These tasks can take valuable time from your Practice Manager, as they juggle day-to-day activities, managing staff and growing your business. And when they do not have training and a high degree of knowledge about these important activities your business can be at risk. Whether you are a single doctor or a large practice, by outsourcing to a qualified team you achieve improved resilience for your practice and optimise the quality and accuracy of your work.
Benefits
Bookkeeping and Payroll at a glance.
A suite of services
Our extensive suite aims to cover your financial needs: bank reconciliations, managing customer and supplier invoices, generating essential reports like balance sheets and profit & loss statements, handling payroll, managing accounts receivable, and much more.
Peace of mind with built-in compliance
From streamlining and verifying your payroll data, providing support to your staff, interpreting Awards, reporting and much more – we help to reduce errors and assist compliance with legislation. By outsourcing to a qualified team, you can achieve improved resilience for your practice and optimise the quality and accuracy of the work.
Scalable and easy set-up
We help manage the financial complexities of your practice with an adaptable service that can start small and grow with your business needs, enabling you to pay staff with confidence and improve business outcomes with our specialised service. We work closely with your accountants and give peace of mind as the business complexities grow with your practice.
System knowledge
Our team can operate in a number of different cloud-based accounting systems (including Xero and MYOB) to complete your bookkeeping functions and business reporting. We have experience in medical systems integrations including medical practice software, business data reporting systems and automated reconciliation software frequently used in medical practices.
Save time and reduce administrative overhead costs
Our end-to-end solution helps you save time and reduces the need for in-house bookkeeping and payroll training. We help to centralise your bookkeeping and payroll processes to help streamline business operations and manage all financial records in one place.
Make better business decisions
Quickly access your most up-to-date financial records and business information with our reporting services. Our team is dedicated to providing professional bookkeeping and payroll services to help simplify managing the financial health of your medical practice, allowing your practice manager to focus on other day-to-day management activities.
What services do we provide?
| Services | Inclusions |
| Bookkeeping | · Entering and verifying the entry of customer and supplier invoices into accounting software, which can include supplying a weekly ABA file of current due bills to be paid. · Entering and verifying the entry of payments and receipts from bank (also refer to our recommendation for Surgical Partners integration). · Communicating for any queries related to the accounts for the relevant period. · Ensuring the correct integration of different business systems into the accounting record (for example point-of-sales systems or medical practice software add-on solutions). · Reconciliation and/or verification of all bank, loan, and credit card accounts. · Reporting balance sheet, profit and loss, and other reports as required. · Reporting outstanding debtors and creditors. · Setup employees in payroll system. · Provide support to owners/staff onsite who may be delegated for lodgement of BAS, PAYG & State Payroll tax obligation payments. |
| Payroll services | · Payroll on a fortnightly basis, lodgement of single touch payroll (STP) and monthly payroll reports provided. · Superannuation prepared quarterly for lodgement (or monthly if that is your preference) and authorisation sent to Business owner for lodgement and payment. · End of financial year finalisation payroll services for your staff’s Income Statements to be directed to their MyGov. |
Delivering a critical business function inhouse, like payroll, can be challenging. There is no room for error. Employees must be paid correctly and on time, and the company must remain compliant. The many tasks required to ensure accuracy can create a very time-consuming process and create unnecessary strain on in-house teams. Our team of skilled professionals can help lower compliance risks, with a faster turn-around time.
We need to know the size of your practice and can then provide an estimate of how many hours per fortnight billing period would be required to best assist you. This estimate is based upon the expected volume of bank feed data, invoice/bill payment, and doctor disbursements required, and can vary once a thorough view of your accounting software and current payroll services is undertaken.
We are experienced with many medical practice software systems, including Genie, Best Practice, Medical Director, Xestro, Clinic to Cloud, Gentu and many more. Our bookkeeping team operate in Xero and MYOB, with specialised training in both payroll systems. We routinely use Surgical Partners for auto-reconciliation and doctor payments. For larger practices our preferred payroll platform is Tanda, which supports time clock, rostering and payroll budgeting functionality.
Disclaimers
Persons implementing any recommendations contained on this webpage must exercise their own independent skill or judgment or seek appropriate professional advice relevant to their own particular practice. Compliance with any recommendations will not in any way guarantee discharge of the duty of care owed to patients and others coming into contact with the health professional or practice. Avant and Avant Practice Solutions are not responsible to you or anyone else for any loss suffered in connection with the use of this information. Information is only current at the date initially published. © Avant Mutual Group Limited 2024.
