Pharmacies / Medical
Centres and Allied Services

Pharmacies / Medical
Centres and Allied Services

Medical

Each business is unique but medical businesses have their own rules / benchmarks and complications. At AGI Bookkeeping we can help.
GST is not as easy as 10% when it comes to selling medicine, charging a patient or receiving Medicare payments. Most medical businesses have a mix of income that combines GST FREE and GST, which needs to be calculated and treated correctly.

Pharmacies

We speak your language:

  • When entering sales we split them up between shop sales and PBS.
  • We analyse your monthly figures and discuss your Gross Profit and Wages percentages.
  • We know that you typically lodge your BAS on a monthly basis, to get the GST refunds faster.
  • We have the latest Pharmacy Industry Award 2010 (MA000012) scanned and ready.
  • We are familiar with service entities and how to record them properly.

Medical Centres

We speak your language:

  • We understand the difference between Bulk Billing / Private Billing and Mixed Billing practices and impact it has on your business and record keeping.
  • Different doctor percentages from 65% to 80% and the record keeping that goes with it.
  • Ask us about industry standards with doctor retention payments for the first few months or medical students wages.
  • We know the industry benchmarks with gross profit / wages / rent and how much PROFIT should be left over.
  • We have contact witch pathology companies and can offer advice when dealing with them.
  • PIP – Practice incentive payments and other programs, talk to us to see how we can help using our large medical network.

Allied professionals

We speak your language:

1

We can build financial models for you to optimise your business performance.

2

How much rent can you afford to pay (per day / week / month)

3

How much should you pay a sub-contractor professional (fixed daily rate or percentage).

4

We understand Medicare / Highcaps / Medical Care Plans / WorkCover / TAC income.

Need more information or want to arrange a obligation free, no-cost appointment? AGI bookkeeping Sydney are ready to help

Get in Touch With Us.