Auditing and Accounting for Doctors

Published on November 18, 2011 by Crawfords Accounting

Getting good value for money is important for everyone, and doctors are no exception. Auditing and accounting for doctors can definitely help with getting a good deal and so they are definitely worth considering.

Accounting for doctors is useful as it involves issues such as preparing accurate and readable end-of-year records, as well as maintaining payrolls and details of expenditure. Having a good idea of what your practice is spending is vital if you are looking for areas where you can either save money or get more for what you are spending.

This is where auditing can also help. An in-depth audit when combined with accounting for doctors can help to identify areas for change. For instance, your practice might be able to benefit from a new timetabling system or by changing some working practices.

It can often be hard to identify these changes when you are close to your business, so having an independent external auditor come in to look at things for you certainly makes a big difference. As well as identifying potential areas for efficiency savings, a thorough audit will also make sure all your financial records are accurate and reflect the work you have done.

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