Flexible finance support to help you manage and grow your healthcare business.
Our Finance Managers will ensure you have complete control of your business finances.
All business owners want to have complete control of their business finances and have an up to date view of their financial performance. Our team of Designated Finance Managers are experts who work with you on a flexible basis, whether you need support one day a month, one day each week or more. Designated Medical is a Xero Bronze Partner and our finance team are Xero certified advisors, trained by Xero to deliver you the best financial support.
Currently your Medical PA may be managing your expenses and payments to suppliers on your behalf and your accountant prepares your end of year tax return. However, from month to month the management information you have access to may feel lacking and you need to fill that gap to enable you to feel in control and make business decisions throughout the year.
A professional finance manager, handling all of your book keeping work in a timely manner and producing monthly management reports for you, will give you the management information you need and will also liaise with your accountant to ensure that preparing your end of year accounts is a painless process for you. It may well save you money too as the information will be simple for your accountant to process.
Your bookkeeping will be kept up to date on a weekly basis, ensuring your suppliers are paid on time and all items of expenditure, including your travel and expense receipts are collated and included. Our experience is that many doctors forget to include numerous expenses and implementing easy processes ensures this is avoided, therefore saving you money.
Monthly Management Reports
Your Designated Finance Manager will produce a monthly report for you, giving you all of the information that you need to review your financial performance and identify issues at the earliest opportunity. You will easily be able to review profitability, cash flow and ensure that key measures such as aged debt are under control.
Our team can manage your payroll for your employees in a cost-effective manner, including management of your HMRC responsibilities and pension.
Systems & Processes
The key to successful finance management is establishing good processes using the right systems. Designated Medical is a Xero Bronze partner and our finance team are Xero advisor certified.
Xero is the perfect finance solution for most consultants and clinics, providing a fully integrated suite of services, for example, Xero integrates with your bank account to enable easy reconciliations.
Your Designated Finance Manager will liaise with your accountant to provide the information they need to produce your year-end accounts and produce your tax submissions in a professional and easy format. The process will be easy as all of the hard work has been done in a timely manner throughout the year.