Independent pharmacists in Australia are demanding better management records and reports due to the fast-moving changes in the industry over the last six years. We, at AGI Bookkeeping, understand the pharmacy business and the industry at large and its challenges.
Bookkeeping solutions that offer complete peace of mind to business owners.
We help with tax preparation and offer insights that help in formulating financial strategy.
Pharmacies need strategic counselling to invest wisely and secure financing from the right sources in addition to the management of their accounts. AGI Bookkeeping has a team of experts who are well-versed with the industry benchmarks and provide unmatched wealth management services.
AGI Bookkeeping caters to both small and large pharmacies with cost-effective packages.
Our bookkeepers focus on maintaining a positive cash-flow which boosts the bottom-line of your pharmacy business in Australia. Here are the most common questions that we have to answer.
A pharmacy bookkeeper is occupied with a lot of work, and the huge number of daily transactions is challenging to record. Thus, our expert bookkeepers with experience in pharmacy provide you with customised bookkeeping services. It covers everything from filing taxes, saving costs, increasing profits, financial reporting, and recordkeeping to payroll management and financial management.
The most advantageous feature of using accounting software is that it frees up your time that can be used to develop the business. It automates most of the business processes, such as payroll, invoicing, financial reporting, etc. You can check for updates in real-time using your mobile phone at anytime and anywhere. It even allows you to collect payments online and keep track of the expenses and the inventory.
Our professionals are trained and experienced in managing bookkeeping of businesses operating in multiple locations. We cover every location individually as well as provide you with an insight into the overall financial health of the entity.
Pharmacies sell a variety of products ranging from medicines and healthcare products to personal care products and cosmetics. We make sure that the cost of sales to turnover for your business is within the key benchmark range. Our professionals provide insightful advice on reducing costs and improving the cash flow.
The tax burden for a pharmacy can be reduced by evaluating the decrease in value of the trading stock for the year and calculating it accurately. You can bring forward some expenses that are expected in the next financial year to claim tax deductions in the current year. Also, identify uncollectable accounts and claim tax deduction for the bad debt. All these tips can help in reducing the tax amount.
The Federal Budget usually lays down changes, such as the recent one that extended the instant asset write-off. Our bookkeepers keep track of all the announcements and changes to make sure your business complies with them and is not penalised for inaccurate information by the ATO.
AGI Bookkeeping takes extra care in maintaining impeccable documents and complying with all the rules and regulations in Australia.
We take all the required measures to review and use accurate point of sale (POS) data and leverage cutting-edge software for the bookkeeping and reporting functions.
Our bookkeepers reconcile and review your stock on hand every month and make sure that the figures are shown correctly in your financial reports. Customer accounts, if not managed, can spiral out of control. If we see them increase, we will be the first one to give you a heads up.
FULL-SERVICE BOOKKEEPING FOR PHARMACY
You can contact us on 03 9088 0251 to get a free quote today.
We take away the stress related to the filing of taxes and get the payments on time, every time. You can rest assured about appropriate payroll management with our expert bookkeepers managing the calculation of PAYG, processing superannuation, and sending out payslips.
With our specialised bookkeeping services, you can focus on running your business. Our bookkeepers specialise in processing of payments & receipts, payroll accounting, account management and much more.
We take charge of preparing and submitting monthly/quarterly Business Activity Statements, credit card and loan reconciliations, inventory and stock take, profit and loss statement, etc.
Our bookkeepers are very particular about reports and compliance lodgements. We have access to the Pharmacy Industry Payroll Award and have contacts with the pharmacy guild (workplace relations).