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Psychologists
in private practice need to be free of
administrative, bookkeeping and accounting tasks as much as possible
without having to spend hard earned fees on extra staff. PsycPrac
helps keep down overhead expenses.
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The PsycPrac approach is
to let
your diary do the bookkeeping and to leave the accounting to your
accountant.
Good bookkeeping will save you money on the cost
of
accounting fees. For example, your accountant does not need to see your
invoices and receipts.
Your accountant needs reliable and accurate
summary
figures for each month.
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The summary accounting figures...
- Total income including GST/VAT
- Total income without GST/VAT
- Total GST or VAT redeemable
- Accounts receivable
- Total Non-capital expenses
- Total capital expenses
- Total GST/VAT refundable
- Monthly, quarterly or annual reporting
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