APL Accounting News October 2018

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APL web event series

After some feedback and strategy planning at our workshops over the last few months, we have listened and are pleased to bring you the following web based information events.
From November we are ditching our own quarterly themes and going with the topics provided for the web events. We feel it’s time to give someone less fortunate than us something special.  November will be dental month so to encourage more dentals and participation by you guys, we are going to be donating to charities in Morocco and India via B1G1 for each dental done at your practice!  That’s right EACH dental you do on a pet here will give someone in a third world country access to dental care – how cool is that!  So feel free to let your team and clients know that by helping pets with their teeth they are also helping someone else.
We can accurately measure the number of dentals across all your clinics on a daily basis using your Profitdiagnostix reports, so you won’t even have to fill in any questionnaires.
Print this out and hand it to your team, or even give it to your clients! At the end of the month we will let you know how many people this project has helped. Again, feel free to let your clients and team know.
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This is to certify that for the month of November 2018, every dental treatment given to a pet in our practice will also pay towards giving someone in a third world country access to dental care.
These donations will be managed through the online charity B1G1 (www.b1g1.com) and your dental performance is accurately measured using Profitdiagnostix software (www.profitdiagnostix.com)
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B1G1 is a company that organises charitable donations in small increments which suits our purpose for what we are going to achieve here.  We plan to tie together the donation recipients with the theme we have for the month.
Mark these dates in your calendars as they will be events not to be missed!
  • 24 October – Buying and selling vet practices with Tony Thelander and Simon Palmer
  • 7 November – Improving the number of dentals in your clinic
  • 12 December – Improving number of cytology samples you perform
  • 30 January – Improving the number of xrays in your clinic
  • Feb – Improving the number of consultations in your clinic
  • March – Improving the number of repeat consults in your clinic
  • April – Improving the client experience
  • May – Improving the number of vaccinations in your clinic
  • June – Implementing meetings in your business
  • July – Telemedicine catch up
Schedule may change depending on demand. Dates for the new year will follow over the next few months.

A force to be reckoned with

As you may know recently APL and ValuVet merged their valuations businesses under the ValuVet banner. One of the wonderful things about merging two businesses is that you become the sum of both business’ strengths. You are each able to add value that the other may not have had before.

Merging our Valuations business with ValuVet has brought many quivers to our APLs valuation offering bow. One of which is the ability to provide separate valuations for the hard assets of a practice alone (the equipment, fit-out separate to the goodwill).

Why would I need a separate valuation for the assets of the business?

There are several reasons:

  1. Finance. The bank financing the purchase / sale of your business will want to know how much of the money being lent is for the hard assets of the business
  2. Tax. While you don’t need to apportion the price paid for a practice in the purchase and sale legal documents, you will need to apportion them for tax purposes. A buyer will want to depreciate the amount paid for equipment post sale.
  3. Insurance
  4. Reinvestment projections. It is common for business owners who have been in a facility for a while to lose sight of:
    1. What is in the drawers and cupboards.
    2.  How old the equipment may be.

We are fortunate to be able to offer this additional service to our clients.

Is telemedicine going to disrupt the veterinary industry? 

Like it or not, and whether you agree with it or not, telemedicine is receiving a huge amount of government and public support in human health. As a result of this is it becoming clear that governing bodies have no intention of stopping veterinary practitioners offering the same sort of service!

At our last workshop, we covered telemedicine extensively right down to how easy it is to implement and what software an everyday veterinary practice can use to set up telemedicine consults in under a day. A lot of people emailed us and said that although they could not attend the workshop, they would love to be updated on telemedicine, so we recorded about 2 hours of this part of the workshop and have made it available online. For APL clients its free of charge, and for non-APL clients a fee of $300 will give you access to the whole video to watch as often as you like.

So if you are seriously considering online consultations or are feeling concerned that telemedicine may affect your business, please call us on 07 34880131 and we will give you access to this very informative video of our workshop a few weeks ago.

APL annual workshop – everyone welcome

Our last APL annual workshop for the year will be held in Sydney.  To make a booking for this please contact us by no later than 8 October on telephone number 07 34880131.
If you have never used APL Accountants services before, you are still welcome to attend for a fee – this fee is then completely refunded if you opt to use APL Accountants services after the workshop, so please feel free to give us a call.

The details are as follows:

Sydney – Friday 19 October 2018 at Sir Stamford, Circular Quay, 93 Macquarie Street, Sydney

Dog tales

It has been party central at APL HQ for the last week or so because a special little girl turned 2.  All dogs dressed in their party clothes to celebrate their workmate’s birthday in style.

We have a feeling this was just a warm up for Halloween dress ups as all the APL staff plan on dressing up this year for the work day.

Can’t hardly wait!

Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the informations applicability to their particular circumstances. In particular, please note that the APL dogs who often prepare this newsletter do not have opposable thumbs so have to type with their noses.