Business & Financial Planning

The processes for recording and controlling financial activities is often fragmented across various software and paper-based systems, often restricting immediate visibility and ease of reference. During visits to some Dental Practices we have found it hard to comprehend how they operate without any formal accounting arrangements, but these businesses do exist albeit precariously.  Financial management including forecasting efforts, budget setting and accounts preparation are affected as a direct consequence of these deficiencies.  Their ability to measure or manage financial activity is actually compromised. 

In these difficult financial times many Practices are finding the going tough, regaining control of the finances can seem a daunting task, but with the right Accountancy support including a suitable software package, visibility, measurement and recovery is achievable.

Ask yourself the following questions;

Q. Is your Accountant proactive and working to ensure your interests are protected including taking advantage of all available Tax breaks?

Q. Are you able to manage your Tax payments?

Q. Are your borrowings bleeding the Practice dry?

Q. Have you entered into any contracts that have become a financial millstone?

Q. Do you operate a Profit and Loss Account and if so, is it based on realistic forecasts?

Q. Has your Accountant helped you to develop a financial recovery plan?

The goal must be to restore financial management and visibility that will help reduce debt, establish cash flow and support future growth initiatives.  This should be regarded as an opportunity for Principals to become proactive and regain full control of the business and its future.

If you would like any help or guidance on this or any other business issues please contact us via our website at: http://www.psds-solutions.com/contact/contact.asp