Latest News January 2026

http://www.aplaccountants.com.au

Why We Recommend Hitting “Pause” on Xero JAX

You may have noticed—or will soon notice—a new feature popping up in your accounting software: Xero JAX (Just Ask Xero).

JAX is Xero’s new generative AI assistant. One of its most touted features is the ability to automatically code and reconcile your bank transactions. The promise is enticing: fully automated bookkeeping that saves you hours of admin time.

However, while the technology is impressive, we strongly advise against using the fully automatic coding features at this stage.

Here is why relying on JAX for your bank reconciliation could cost you more in the long run.

The Problem with “High Confidence”

JAX is designed to handle “high-confidence” matches, aiming to automate roughly 80% of your bank lines. In accounting, less than 100% accuracy isn’t enough to keep the tax office happy.

If you turn on “hands-off” automation, you face two distinct risks:

• Silent Errors: If you stop reviewing the “Reconciled” page because JAX is doing it for you, incorrect matches will sit unnoticed. This leads to misstated revenue, wrong expense categories, and incorrect GST claims.

• The Complexity Trap: AI struggles with nuance. JAX is prone to making mistakes or skipping items entirely when dealing with:

  • Refunds and chargebacks

  • Partial payments

  • Multi-invoice settlements

  • Mixed personal and business spending

The Hidden Cost to Your Business

The most dangerous aspect of automated coding is that the issues usually don’t show up until month-end, year-end, or (worst case scenario) during an audit.

Cleaning up messy data is significantly more expensive than entering it correctly the first time.

If JAX miscodes your transactions throughout the year, your accountant will need to spend considerable time unpicking and fixing the file before they can lodge your tax return. This additional labor will inevitably lead to higher accounting fees for your end-of-year work.

Our Recommendation

Technology is moving fast, and AI will eventually be a massive asset for small businesses. But for now:

1. Do not enable fully automatic reconciliation/coding without consultation.

2. Maintain human oversight: Even if JAX suggests a match, cast a human eye over it to ensure the GST and account codes are correct.

3. Stick to Bank Rules: Traditional Xero “Bank Rules” that you set up are still the safest way to automate recurring transactions because they follow strict logic, not guesses.

We want to help you keep your accounting fees down and your data accurate. “Set and forget” is not a strategy that works for bookkeeping just yet.

“Total Cost of Labor”: A Change to How We Track Wages

As part of our commitment to providing you with the most accurate financial insights, we are making a slight adjustment to how we categorize data in your benchmarking reports.

Moving forward, we will be grouping Specialist Fees into the Wages category.

Why are we doing this? In the past, we separated employees (Wages) from external help (Specialist Fees). However, for many businesses, specialists and contractors perform the same essential functions as employees. Whether you pay a salary or a contractor invoice, the cost represents the same thing: the human effort required to generate your revenue.

By combining these, we are shifting the focus from “Wages” to a broader “Total Cost of Labor.”

What to expect on your next report You will notice that your Wages % will appear higher than in previous reports.

• Don’t panic: This does not mean your actual payroll costs have increased.

• It’s a reclassification: We have simply moved the specialist costs into the wage bucket to give you a single, comprehensive figure for your labor expenses.

The Benefit to You This change allows for much sharper benchmarking. It ensures that when you compare your business to industry standards, you are comparing “apples with apples.” It prevents the data from being skewed if one business hires full-time staff while another uses heavy reliance on specialists.

This new consolidated view will help you make better decisions about staffing efficiency and team structure.

Dog Tales! – here’s to a Pawsitive New Year!

I’ve been watching my team work all of last year. I see them staring at the glowing squares (screens), talking about “profit,” “margins,” and “growth.” While I don’t know much about spreadsheets, I do know a lot about loyalty, excitement, and the importance of a good reward.

So, from my furry perspective, here is what I am wishing for you in the New Year:

1. A Profitable Year (More Treats) I hope your business buries so many bones this year that you have trouble finding them all. May your revenue be high, your expenses stay low (like me), and your cash flow represent a steady stream of happiness.

2. Less Barking, More Wagging My wish for you is a year of smooth sailing. Let my human colleagues handle the stressful reporting stuff so you don’t have to growl at the team.

3. Remember to Chase the Ball Business is important, but have you tried chasing a ball in the park? It’s amazing. Remember that the whole point of a “successful business” is to give you the freedom to go for walks, take naps in the sun, and spend time with your pack.

Happy New Year!

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Latest News December 2025

http://www.aplaccountants.com.au

Veterinary Industry Health Tracker

Many of you are familiar with Profitdiagnostix’s Monthly Veterinary Industry Health Tracker, which has long provided a valuable snapshot of general industry trends.

This tool has evolved and it’s no longer just a general report available to everyone—it’s now a powerful, personalized tool exclusively for Profitdiagnostix users.

The tracker has a new home and a new, crucial feature. You can find the “My Veterinary Industry Tracker” in your Dashboards section.

Here’s the powerful difference:

Instead of just seeing the industry average, you can now compare your clinic’s performance directly against the industry benchmarks, side-by-side.

This new dashboard maps your clinic’s data against the broader trends, so you can instantly see how you stack up. Stop guessing if a slow month was just you or a market-wide dip.

Track your key metrics versus the industry:

• Revenue growth or drop

• Number of invoices

• Number of animals

• Average spend per animal

• Number of consultations

This new, comparative insight gives you the context you need to make more confident business decisions.

Log in to your Profitdiagnostix account if you have one and click on the dashboard shown below to see where you stand.

Are You Fixing the Wrong Customer Problems?

For too long, understanding customers has been a matter of guesswork. Businesses often waste significant funds on “customer journey” improvements based on what decision-makers assume is important, not what customers actually want.

The High Cost of Guesswork

This disconnect is expensive. Consider a veterinary practice that spends thousands on a new cat waiting area, while the vast majority of its customer complaints are about an inefficient reception desk. Addressing the high-volume, low-cost reception issue would have provided a much greater return on investment.

The core problem is that customer frustrations vary significantly from one practice to another. Without data, you are blindly guessing whether the primary issue is cost, wait times, or something else. All too often, major decisions are based on the memory of a single, highly negative interaction, leading to inaccurate and costly “solutions.”

An AI-Powered Solution

Our business advisory team has long recognized this flaw. Now, leveraging the power of AI, there is a solution that replaces guesswork with certainty. It gets inside your customers’ heads to discover exactly what is annoying them—a level of insight that wasn’t possible even a year ago.

This is a system that:

• Consistently gathers feedback from every single customer.

• Automatically analyzes, categorizes, and flags all responses, notifying your team of serious issues in real-time.

• Benchmarks your performance against other practices in key service areas.

• Delivers regular summary reports that pinpoint exactly where your service is falling short.

• Identifies if complaints are related to specific team members.

Some real examples:

In the first example below, customer complaints are mainly about communication. Further analysis may reveal this this is restricted to only one or two team members.

In this second example, customer complaints are mainly about costs. Further analysis will likely reveal that it is only specific fees that are causing a problem.

In both of the above examples, the complaints are benchmarked against the averages of a large number of other practices in real time! So customer service can now have a tangible priority associated with it. No more guesswork!

Dog Tales – Festive Season Break!

We have big plans for late December – swimming, bushwalking and lots of yummy food. As a result the office will be closed 22 December – 5 January. We will see you back in the New Year with lots of fun photos.

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Latest News November 2025

http://www.aplaccountants.com.au

Get Ready: ‘Payday Super’ is Changing How You Pay Staff

A significant change to how all Australian businesses handle superannuation is on the horizon. The government is proceeding with its ‘Payday Super’ plan, set to begin on 1 July 2026.

This new system will change the rhythm of your business finances, and preparing now is the key to a smooth transition. Here’s what you need to know.

What is Changing?

The new rules are designed to ensure employees receive their super more frequently. For employers, this means three major adjustments:

1. Super is Paid with Every Pay Run The biggest change is the end of quarterly super payments. Starting 1 July 2026, you will be required to pay your employees’ superannuation contributions at the same time you pay their wages, whether that’s weekly, fortnightly, or monthly.

2. Stricter, Faster Penalties The deadlines for payment will be much tighter. If a super payment is late, the Superannuation Guarantee Charge (SGC) will apply almost immediately. Penalties will include daily compounding interest, making it more costly than ever to fall behind.

3. The ATO’s Free Clearing House is Closing The Small Business Superannuation Clearing House (SBSCH), a free service used by over 270,000 businesses, is being phased out. Current users will need to transition to a new commercial clearing house solution before the 2026 deadline.

The Two Biggest Impacts on Your Business

1. Cash Flow Management The biggest challenge for most businesses will be adjusting to the new cash flow cycle. Instead of preparing for one large super payment each quarter, you will need to have funds available with every single pay run.

Heads Up: Be prepared for a significant cash flow crunch in July 2026. You will need to pay your final quarterly super contribution for the April-June 2026 period (due 28 July) in addition to the new payday super payments for all pay runs that occur in July.

2. Payroll System Updates Your current payroll software and processes must be compatible with these changes. You will need to ensure your system can handle the increased frequency of payments and reporting, and you will need to select and set up a new clearing house if you currently use the ATO’s free service.

Stop Giving Your Client List to Your Biggest Competitor

Online pet pharmacies are not your partners. They are a direct threat to your practice, and many vets are unknowingly handing them their most valuable asset: their client list.

The Real Threat Isn’t Lost Medication Sales

Yes, online pharmacies drastically undercut your prices on medications. This frustrates clients and fuels demand for online-only prescriptions.

But the real danger isn’t the lost margin on drugs. It’s the loss of your profitable, essential repeat consultations, which are the backbone of your practice and the foundation of quality patient care.

The Trojan Horse in Your Clinic

The trap is sophisticated. Online pharmacies align with providers that offer you “helpful” business and marketing apps. By using them, you are handing over your entire client database: names, emails, phone numbers, and complete patient treatment histories. You are giving away your customer relationships to a company whose primary goal is to replace you.

Their Endgame is Your Business

Online pharmacies are already lobbying for laws to allow online prescribing (teleconsults where prescriptions can be given without physically seeing the pet). Once that happens, they will use the data you provided to market directly to your clients with texts, social media ads, and mailers offering their own online vet services.

How to Protect Your Practice Now

1. Audit Your Tools: If your reporting or marketing software is owned by an online pharmacy or a company with a potential conflict of interest, stop using it immediately.
2. Choose a Conflict-Free Partner: Your business tools should work for you, and only you.

That’s why Profitdiagnostix was built. Their system is secure and completely independent. They have no affiliation with any company that markets to pet owners. Their only mission is to make your practice more profitable. Don’t let a competitor use your own data against you.

A Warning of What May be Coming

An interesting article in VIN regarding the UK (and we know that Australia often follows the UK) https://news.vin.com/default.aspx?pid=210&Id=12903735&f5=1 

In summary:

A major shift is underway in the UK’s veterinary industry that serves as a critical warning for what may be on the horizon for Australian practices. Regulators there have launched a formal, market-wide investigation, and the issues being targeted—and the remedies being proposed—could reshape our entire profession.

For Australian practice owners, this is a valuable glimpse into a potential future and a prompt to get ahead of the curve.

What’s Happening in the UK?

After an initial review raised serious concerns, the UK’s competition watchdog, the Competition and Markets Authority (CMA), is conducting a full investigation into the veterinary sector. The key areas under scrutiny are issues that resonate strongly within the Australian market:

• Pricing Transparency: Regulators found that consumers are often not given enough clear, upfront information about the cost of treatments, making it difficult to make informed decisions. The suggestion is that practices are compelled to publish a standard list of services price list on their website.

• Corporate Consolidation: A primary concern is the significant impact of corporate ownership. With a large percentage of UK vet practices now owned by a small number of large companies, the investigation is assessing whether this consolidation has led to reduced competition, limited choice, and higher prices.

• Prescription Practices and Fees: The rules around prescribing are under intense scrutiny. Regulators are questioning not only whether clients are made aware they can fill prescriptions elsewhere but are now considering capping the prescription-writing fee that vets can charge. This proposed cap could dramatically impact a clinic’s ability to cover the professional time and liability associated with prescribing medications.

Why Australian Practices Should Be Prepared

The Australian and UK veterinary markets are remarkably similar. We share a high rate of pet ownership, a passion for quality animal care, and an identical trend of rapid corporate consolidation. When a comparable country like the UK undertakes such a significant regulatory review, it often creates a blueprint that others, including Australia, may follow.

This is a clear signal to proactively review your own clinic’s practices. The “way we’ve always done it” may not be sufficient in the years to come. By learning from the UK’s experience now, you can ensure your practice is not only prepared for potential future scrutiny but is also building a stronger, more transparent, and resilient business.

Dog Tales! – Trick or treat?

It’s my favorite spooky night of the year. The tiny humans are walking themselves (finally!) and come right to our door to get the Good Stuff.

But I have to bark about a weird rumor I heard at the dog park.

Buster (the golden-doodle who chases his own tail, so you know, not the sharpest sniffer) was telling everyone that our house was giving out carrot sticks. Can you believe it? He said he “heard it from a guy who knows a guy” that we were a “no-treat zone.”

I just sniffed my human’s treat bowl. It is overflowing with the premium, sizzle-wrapped, drool-worthy BACON bites. Not a carrot in sight. We just deliver the quality that has the tiny humans wagging… I mean, walking… back to our door every single year.

Buster is telling everyone to go to the house down the street. I watched that house. You know what the tiny humans got? Stale, boring biscuits. I am not joking. Stale, boring biscuits. A total trick!

The moral of my tail: Don’t listen to the rumors from the tail-chasers. If you hear something that sounds suspiciously bad (or frankly, unbelievable), don’t just take their bark for it.

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Latest News October 2025

http://www.aplaccountants.com.au

A web event not to be missed on 15 October midday Qld

How often does the veterinary industry have a 2 X TEDX speaker present just exclusively for you? Our guess is only once every 5 or 6 years! So we are very excited to be bringing you Masami Sato who will be speaking about “From Healing Pets To Healing the World”.

On the 15th of October we will be hosting this free lunch time inspirational web event that goes beyond business and delves into a sustainable culture of ‘feel good’ and giving that can be implemented easily into veterinary practice. This is an event that will be inspirational to business owners, managers and team members as Masami presents her views as one of the world’s influential female entrepreneurs. It does not matter what your role in a business is, she will inspire you all. So feel free to forward this email to anyone who wants inspiration in the veterinary industry – you are all welcome to attend.

And no doubt, the approachable Masami will stay on and answer any questions that you want to ask her.

Recent Notable Engagements (2025)

• World Chambers Congress (14WCC), 2025: Masami Sato was featured as a speaker, addressing chamber executives, entrepreneurs, and global leaders on the impact of business-led giving.

• Globinar: The Extraordinary Power of Small, May 2025: She headlined this virtual global session organized by the Global Chamber, focusing on how small daily acts can drive profound global change.

• Opening Day of the Cartier Women’s Pavilion at Expo Osaka: a globally recognized platform advancing the voices of women leaders and entrepreneurs.

Absolutely everyone and anyone in the veterinary profession is welcome! so register here:
https://us02web.zoom.us/webinar/register/WN_HQvc4L-zQxyNDeGdpQEUWA

When: Wednesday 15 October 12 noon Brisbane time

Dog Tales!

Navigating a Hoopers course, every twist and hoop feels like a new adventure -challenging at first, but surprisingly enjoyable with good direction. 

You think I’m the only one jumping through hoops? You do it all day. Your hoops are just invisible. Here are a few lessons from my Hoopers class that might help with yours.

That first hoop is always the scariest. You need to face it – the one called “Payroll Week” or “Buying New Equipment.” You learn the only way is through. But it’s never just one hoop, is it? It’s a whole course. You clear the Staffing hoop, pivot to the Inventory hoop, then sprint through an Emergency.

The most important lesson is that I never run alone. I’d be lost on the course without my mom guiding me. She points, she encourages, she corrects. You need a handler, too. Your Practice Manager, your senior staff, your mentors – they are the ones keeping you on course.

So, when you feel you’re facing endless hoops, remember us dogs on the course. Every obstacle you clear makes you faster, smarter, and stronger for the next. The run is tough, but a happy team and healthy patients are worth it every time.

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Latest News September 2025

http://www.aplaccountants.com.au

The Strategic Edge Only APL Clients Will Have

Invisible patients, why reminders alone are not enough

Dog Tales – Barking Up the Right Tree, Why Fetching Feedback Matters! 

Everyone knows my favorite game is fetch, but today we’re talking about fetching something even more valuable than tennis balls: feedback!

Just like I chase toys and proudly bring them back, your team should always be chasing after client feedback. Sometimes it’s a squeaky compliment, sometimes it’s a chewy suggestion, but every piece helps your clinic stay top dog!

Here’s how to play the feedback fetch:

• Wag and ask: Request reviews right after appointments while the experience is fresh.

• Sniff out opportunities: Make it easy for clients to share their thoughts through quick surveys or a “paws and reflect” comment box.

• Bring it back to the pack: Share feedback with your whole team so everyone can learn new tricks and improve care.

And here’s the best part, you don’t have to fetch alone! With Profitdiagnostix software, you can automatically request reviews from clients after their visits. It’s like having your very own feedback-fetching sidekick!

Every bit of feedback you fetch helps your clinic grow stronger and keeps clients coming back for more belly rubs (and excellent care!). So, let’s get fetching, set up automatic review requests in Profitdiagnostix and start wagging your way to more happy barks today! https://profitdiagnostix.com/get-customer-reviews/

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Latest News August 2025

http://www.aplaccountants.com.au

Not all wages are on the rise!

This is interesting data from Seek showing that not all wages are on the increase.

It’s a common headline: wages are on the rise. While that’s true for some, a closer look at the numbers reveals a more complex picture. The reality is that wage growth in the past year has been far from uniform, with significant disparities across different professions.

The Winners’ Circle

Several sectors have seen substantial pay bumps. Roles in healthcare and banking, for example, have experienced double-digit growth. Medical Registrars and Banking Managers have seen a 12% increase in their earnings. 

Holding Steady… and Falling Behind

However, not everyone is celebrating a bigger paycheck. Some high-paying professions have seen no wage growth at all in the past year. General Practitioners, and Engineering Managers, for example, have had stagnant wages.

Even more concerning, some like software application developers have seen a pay cut.

The Takeaway

The story of wage growth is not a simple one. While some professionals are enjoying a significant financial boost, others are finding their earning power has stalled or even reversed. As the global economy struggles with balancing increasing wages with no increase in productivity, pay increases can no longer be guaranteed.

This is the time of year we put together our annual benchmarks for our clients which by September, will give us a full understanding of the specific trends within the veterinary industry and whether or not profits are being maintained in light of ever increasing wages.

Could your business sink like the Titanic just because of your shared inbox?

As a business owner, you juggle countless tasks. It’s tempting to simplify things by sharing your inbox with a team member or a few. But relying on this shared inbox for your most critical communications is like steering the Titanic straight for an iceberg. It’s a disaster waiting to happen.

Your business’s survival depends on secure, confidential communication. Giving multiple people the keys to your central inbox creates a massive, unnecessary risk that could sink your entire operation.

At the risk of being blunt – for many years as an accounting firm we have tolerated business owners telling us not to send emails to a business email address with their name on it. For example jane.doe@yourbusiness.com. Here is the blunt part – this is not the way the digital world works anymore. If a business email has a persons name on it, then the assumption is that this is a private inbox belonging to that person. If you have such an email that you are sharing with staff members, then don’t point the finger when something very personal gets emailed there, for example discussions of firing an employee – you have created the problem, not the sender of the email.

If you do intend to use shared inboxes, then they must clearly be named as such, for example: reception@yourbusiness.com.

The Danger of the Shared Inbox

When you use a shared email for owner-level correspondence, you expose the heart of your business. Think about what comes to your inbox:

• Financial Information: Bank statements, payment notifications and confidential financial reports.

• Legal & HR Documents: Contracts, legal notices and sensitive employee information.

• 2 factor authentication: 2FA via email is still used for very private log-ins such as access to various software and payment systems

If an employee leaves on bad terms, or a password is leaked, all of this critical data is instantly vulnerable. There’s no accountability; you’ll never know for sure who accessed, deleted, or leaked a sensitive message.

Your Digital Command Centre: The Private Owner’s Email

The solution is simple: a private email address at your own domain (e.g., jane.doe@yourbusiness.com) that only you can access. This isn’t just about looking professional; it’s about control and security.

This dedicated inbox becomes your secure digital command centre. Here, you can safely manage the core functions of your business without fear of prying eyes or accidental deletions.

More importantly, you can properly secure it.

Locking the Vault with 2FA

A private account allows you to enable crucial security features like Two-Factor Authentication (2FA). You’ve likely used this for your banking—it requires both your password and a second code, usually from your phone, but sometimes to your email to log in.

It is the single best way to protect an account from being hacked.

You simply cannot implement effective 2FA on an inbox shared by multiple people. By its very nature, a shared account is fundamentally insecure. Securing your private owner’s email with 2FA is like adding a deadbolt to your digital vault.

Don’t let a simple oversight be the iceberg that sinks your business. 

Get Faster Answers: A Quick Guide to Our Expert Teams 

To help you get the answers you need as quickly as possible, here’s a simple guide to which expert to contact for your specific business needs. Reaching out to the right person directly will ensure a faster and more efficient response.

For Business Advisory & Strategy

If you’re asking questions like how is my business tracking?, are my staff performing well?, How can I improve profitability? your experts are:

Paolo, Anne and Renaei at APL Accountants

For Bookkeeping and Payroll

For all your day-to-day bookkeeping and payroll questions, please contact your dedicated bookkeeper at APL Accountants first. 

If they’re away, rest assured our team monitors their emails to ensure you’re always looked after. Donna oversees the bookkeeping team and is your point of contact if your usual bookkeeper is unavailable.

For Business Valuations – 

To understand the current value of your business for sale, succession planning, or any other purpose, please contact:

Renaei at APL Accountants 

Important Note on Tax and Tax Planning

For all matters related to tax returns, compliance, and strategic tax planning, please contact:

Kezah and Peter at James Noble Accountants. 

James Noble Accountants is a separate, specialist firm we partner with closely to provide you with expert tax advice. Please note that the APL Accountants team cannot directly assist with tax matters, so contacting Kezah and Peter directly is the best approach.

We hope this helps you get the support you need, faster!

Scam Alert: Annual Company Review Letters

We want to make you aware of a recent scam targeting business owners with registered companies. Several clients have reported receiving official-looking letters offering to conduct an “Annual Company Review” for a fee — typically ranging from $400 to $500. These letters appear legitimate but are not from ASIC and not from your accountant.

🕵️ What’s the Scam?

The letter usually:

• Refers to your legal obligation to complete an annual company review

• Offers to complete this review on your behalf

• Demands payment via card with a discount for early payment

• Uses formal language and formatting that mimics government correspondence

The catch? These services are unnecessary because your accountant already handles this as part of your compliance and ASIC requirements.

🚩 Red Flags to Watch Out For

• Emails or letters from unknown third parties. Check the email address of the sender

• Requests to make payment for “company compliance” or “review services”

• Urgent language or pressure tactics

• Letters with unfamiliar business names that appear official

Dog Tales – keep your personal data safe!

Technology has helped us in so many ways, but we do forget that it also comes at a cost. And one of these costs is that we have to be more careful about privacy and security. Things change so quickly and with amazing advances, sometimes something that was safe a few years ago might be really unsafe now. As the office dogs we often hear the accounting team worrying about having to try to remember that Dr X insists on not having anything sent to his work email box because he shares it with everyone.

Sharing passwords and email addresses is one of those things that was historically acceptable, but no longer safe.

In particular, Dr X, we strongly advise that if you have shared the password with the cat, you are in grave peril! You just cant trust that species.

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Latest News July 2025

http://www.aplaccountants.com.au

http://www.mytaxvet.com.au

Animal and Veterinary Services Award has increased by 3.5% from the first full pay run after 1 July 2025

July Web Event not to be missed, APL clients only!

Topic: Structuring veterinary surgeon wages to keep your business viable

There is some information that we can only share with our hands on advisory clients, and this webinar will have exactly that sort of information. Management of wages is certainly going to be one of the most challenging issues in the profession over the next year or two.

Our consultants have developed a predictable formula (not being used by anyone else) to calculate how much you can pay based on your veterinary surgeons productivity. Spoiler alert – if you are using a multiplier of sales to pay your vets you are doing this wrong!

We will be discussing:

• Precisely how much you can pay each vet to maintain 15-20% profit
• How to look at other criteria such as their ability to book in procedures
• How to assess it they are overservicing and annoying clients
• How to potentially structure this as a part wage, part bonus and the traps and the advantages of doing this

So APL Clients, keep this date and time free:

Wed, Jul 23, 2025 12:00 PM Brisbane time

We will be sending our clients an invitation over the next week.

Heads Up – Xero are increasing their prices in July

Please note that if we pay your Xero fees then your direct debit will increase in line with the fee increase from Xero. Xero has sent an email to all users regarding pricing. In simple terms:

• If you have xero with no payroll the monthly fee is going from $70 to $75
• If you have 5 employees on payroll the monthly fee is going from $90 to $100 
• If you have 6-20 employees on payroll the monthly fee is going from $145 to $162 
• If you have 21-50 employees on payroll the monthly fee is going from $200 to $222
• If you have 51-100 employees on payroll the monthly fee is going from $245 to $272

Dog Tales – Prices and wages are a tough balancing act!

Not that I really need to expand much on the article at the beginning of this newsletter about prices and wages that the humans wrote. But I can simplify it in this very unorthodox doggy photo of me climbing trees and my little brother Strudel living dangerously below me.

Imagine me as the business owner in a difficult balancing act trying to keep my team motivated, my business viable and my customers happy – virtually impossible! But then I am a dog, and I am sort of climbing a tree which is rather unusual.

The little brown sausage dog beneath me (Strudel) you can imagine as our fragile veterinary economy. If I get my balance wrong on those two wobbly logs and fall on Strudel, the question remains, will he survive………..

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Latest News June 2025

http://www.aplaccountants.com.au

http://www.mytaxvet.com.au

Nearly the end of the financial year!

It has come around fast, and it’s nearly the end of the year! Remember there are some key things to consider this month:
1. Superannuation paid to your team is only deductible in this financial year if it is paid in this financial year – you may want to pay superannuation before 30 June
2. Money you pay into your superannuation each year has a cap on it to be a tax deduction – check with your accountant if you are thinking of putting extra money into superannuation as a tax deduction.

Make sure you have booked a tax planning meeting with your accountant so you know what to do before the end of the year and have an idea of what your tax and tax instalments on BAS will be in 2026.

Streamline your practice, bookkeeping tailored for veterinary business!

Are you a busy veterinary professional feeling in the dark about your financials whilst caring for your patients? We get it. The unique financial ins and outs of a veterinary practice can be complex and time-consuming. That’s where we come in.

Contact us to find out more!

Remember that we don’t just do bookkeeping; we only do bookkeeping for veterinary businesses and have been doing this for over 10 years. This specialization is your advantage. We understand the specific transactions, common expenses, and revenue streams unique to your field. This means less time explaining industry jargon to your bookkeeper and more time confident that your financials are in expert hands who truly understand your practice.

Tired of anonymous email chains and generic service? We believe in a personal touch. When you partner with us, you’ll be assigned your own dedicated, fully qualified bookkeeper. This isn’t just a name on an account; it’s a professional who will get to know your business intimately. And yes, they’re available for phone calls! Have a quick question or need to discuss a specific financial point? Your dedicated bookkeeper is just a call away, ready to provide the clarity and support you need.

Gain Real Insight, Make Informed Decisions. One of the most powerful tools for understanding your practice’s financial health is a clear and accurate Profit & Loss statement. We are committed to delivering this vital report to you by the middle of the following month – every month. No more waiting weeks or months to understand your financial position. With timely insights, you can make informed decisions about your practice’s growth, spending, and overall strategy, ensuring you’re always on the path to profitability.

Here’s what sets us apart:

• Veterinary-Specific Expertise: We speak your language and understand the nuances of your practice’s finances.
• Dedicated, Qualified Bookkeepers: A personal, expert point of contact committed to your success.
• Direct Phone Access: Quick answers and direct support when you need it.
• Timely & Accurate Reporting: Understand your financial position by mid-month to make proactive decisions.

Stop letting bookkeeping be a source of stress and start leveraging it as a tool for success.

Ready to experience the peace of mind that comes with expert, specialized bookkeeping?

Contact us today for a no-obligation quote and discover how we can help your veterinary practice thrive!

Strategic Pricing Web Masterclass 

Are you confident your current pricing strategy truly reflects the value you provide and is maximizing your veterinary practice’s profitability? In today’s evolving market, setting the right prices for your services and products is more critical than ever.

Many veterinary businesses struggle with:

• Underpricing services and impacting their bottom line.
• Knowing when and how to adjust prices strategically.
• Navigating client concerns about cost while ensuring high-quality care.

If these challenges resonate with you, we invite you to our upcoming webinar:

Strategic Pricing for Veterinary Businesses 18 June midday You’ll discover Practical Strategies for Price Setting & Adjustment – Learn actionable techniques for reviewing and updating your fee schedule effectively.

Don’t miss this opportunity to gain practical, actionable insights that can transform your practice’s financial future.

Ready to optimize your pricing strategy? Register here:

https://us02web.zoom.us/webinar/register/WN_3q8oJipjT52vJbDP7IY_bw

Xero fee increase

Please note that Xero has an annual fee increase in July. If we pay for your Xero subscription then we will be increasing your fee in line with the Xero fee change.

Dog Tales!

My mom always says that a vet’s financial health is like a dog’s health – you need to know what’s going on inside to keep things running smoothly. And trust me, I’ve heard some howling tales!

• The Case of the Missing Kibble (and Profits): One vet thought they were rolling in dough, but their bookkeeping was so tangled, they didn’t realize they were overspending on supplies. My mom helped them straighten things out, and suddenly there were a few extra treats!
• The Toy-less Terrier: Another practice couldn’t figure out why they couldn’t afford new equipment. My mom dug into their financials and found they were missing payment deadlines, paying late fees and interest unnecessarily. With some bookkeeping TLC, they’re now investing in the best tools, and everyone’s tail is wagging!
• The Stressed-Out Shih Tzu: This vet was so worried about their finances, they were a nervous wreck. My human showed them how clear, accurate bookkeeping could give them the confidence to make smart decisions and focus on patient care. The sigh of relief? Priceless!

The Top-Dog Bookkeeping Takeaway:

Vets, listen up! You’re amazing at caring for our furry friends, but when it comes to finances, a helping paw can make all the difference. Clean, accurate bookkeeping isn’t just about numbers; it’s about peace of mind, smart decisions, and confidence in what your practice that can afford – all the best treats (for you and your patients!). If your bookkeeping looks like a chewed-up bone, you might want to call in a professional.

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Latest News May 2025

http://www.aplaccountants.com.au

http://www.mytaxvet.com.au

Are you drawing money out of your business, and is it legal?

Ever wondered about accessing funds from your business without going the traditional routes of payroll or dividends? It’s a common scenario for business owners, and understanding the ins and outs of “owner loans” is crucial for both your business’s financial health and your personal financial well-being.

That’s why we’re thrilled to invite you to our upcoming webmasterclass: Understanding Owner Loans.

Click here to register:

https://us02web.zoom.us/webinar/register/WN_D2snNRg5Tdat4KYCbsEjUA

What are owner loans, exactly? Simply put, they’re instances where you, as the business owner, take money out of your company in a way that isn’t classified as salary or dividend payments. While this might seem straightforward, the implications can be complex and have significant tax and legal ramifications if not handled correctly.

In this insightful webinar, we’ll delve into:

• Defining Owner Loans: We’ll clearly explain what constitutes an owner loan and differentiate it from other forms of business withdrawals.
• Why Consider Owner Loans? We’ll explore common reasons why business owners might opt for this method of accessing funds.
• The Crucial Implications: This is where it gets important! We’ll break down the potential tax consequences, accounting treatments, and legal considerations you need to be aware of.
• Structuring Owner Loans Correctly: Learn best practices for documenting and managing owner loans to ensure compliance and avoid future headaches.
• Distinguishing Good Practice from Risky Territory: We’ll highlight red flags and common pitfalls to avoid when dealing with owner loans.

Register for our web masterclass on Wednesday 28 May midday (Brisbane time)

Here is the registration link again:

https://us02web.zoom.us/webinar/register/WN_D2snNRg5Tdat4KYCbsEjUA

Understanding key metrics in your veterinary business

Providing exceptional care for animals is at the heart of your practice. However, running a successful and sustainable veterinary business also requires a keen understanding of your financial health. Just as you meticulously monitor a patient’s vital signs, regularly tracking key financial metrics provides critical insights into your practice’s performance and helps you make informed decisions for the future.

We believe that a financially healthy practice empowers you to deliver the best possible care. 

Why Track Financial Metrics?

Consistently monitoring key performance indicators (KPIs) allows you to:

• Identify Trends: Spot positive growth or potential areas of concern early on.
• Measure Performance: Evaluate the effectiveness of your business strategies and operational efficiency.
• Make Informed Decisions: Base your decisions on data rather than intuition, leading to more strategic resource allocation and growth initiatives.
• Benchmark Against Industry Standards: Understand how your practice compares to others in the veterinary field.

Essential Financial Metrics for Your Veterinary Practice:

1. Revenue Growth: This metric measures the percentage increase (or decrease) in your total revenue over a specific period (e.g., monthly, quarterly, annually). Consistent growth indicates a healthy business.

2. Net Profit Margin: This is your “bottom line” – the percentage of revenue remaining after deducting all operating expenses, including salaries, rent, utilities, and administrative costs. A strong net profit margin indicates overall financial health.

3. Active Client Number: This measures the number of clients who pay an invoice in the last 12 months. Increasing number indicates an expanding business. A decreasing number can be concerning, and this is currently the trend in many practices.

4. Client Spend: This metric shows the average amount a client spends in 12 months Increasing client spend can significantly boost revenue and profit.

Implementing Financial Tracking in Your Practice:

• Establish Regular Reporting Schedules: Set aside time (e.g., weekly or monthly) to review your key metrics.
• Set Benchmarks and Goals: Compare your performance against industry averages and set realistic targets for improvement.
• Seek Professional Guidance: A business advisor specialising in veterinary practices can help you identify the most relevant metrics for your business and interpret the data effectively.

By moving beyond the daily operations and actively monitoring these key financial metrics, you can gain a deeper understanding of your veterinary practice’s financial health, identify opportunities for improvement, and ultimately build a more sustainable and thriving business.

If you’d like to discover which metrics are most critical for your practice or need assistance in tracking and reporting systems, please don’t hesitate to contact us. We’re here to help you navigate the financial landscape and achieve your business goals.

Dog Tales – sometimes the simplest things are neglected

We are going to be a bit bold now and assume that most of you have owned a dog at some stage!

And one of the interesting things we see when we go to school is how many of our doggy friends can do some complicated stuff, yet they are unable to perform a basic recall. Its amazing to see a working cocker spaniel blow the rest of us away at a scent trial, however we occasionally watch with glee when their owner tries to get them back on the lead and instead they ‘go bush’ and vanish for half an hour with their normal biological ears seemingly replaced by fake, non-functional plastic ears.

Its important not to neglect the obvious and simple things in so many aspects of life and business. For us dogs, a basic recall to come back to mom or dad should be priority number one, but for some dog owners its just too boring and often neglected for less useful tricks like taking a bow (don’t worry I also have recall!).

The same applies for business! Many businesses spend tens of thousands on social media and internet advertising because it seems so exciting. But were they to measure the return on cost they would be disappointed.

Better to focus on the basics – most veterinary practices have a huge untapped market and just need to practice their recalls! Marketing to existing customers is usually about 10X more effective when you calculate the return on cost. So its time to press those lips together, whistle loudly and have those disengaged pets running back in through the door.

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Latest News April 2025

http://www.aplaccountants.com.au

http://www.mytaxvet.com.au

Budget update

A bit of a non event budget for our veterinary businesses this year. A brief summary:

• Tax cuts from 1 July 2026 – 16% rate cut to 15% and from 1 July 2027 15% rate cut to 14%. That’s a $268 saving in 2027 and $536 from 2028 financial year for those earning over $45,000.
• Banning non compete clauses for employees earning under $175,000

This seems to be one of the least creative budgets we have seen and seems to lack any benefits for small businesses or the stimulation of the economy.

Our professional body is concerned that there is nothing in the budget to reverse the slide of small business in Australia. Data shows that small business contribution to the GDP has plummeted from 40% in 2006 to 33% today, and their share of private sector employment has fallen from 53% to 42%. Supporting small business is crucial to revitalise Australia’s productivity and grow our economy. It is also concerning that small businesses are burdened by complex and escalating compliance obligations.

Navigating the Shifting Sands: Understand Your Veterinary Customers in Today’s Economy – Join Our Exclusive Web Masterclass on16 April

Are you feeling the impact of the current economic climate on your veterinary practice? Wondering how your customers are adapting and what it means for your business?

You’re not alone. The economic landscape is constantly evolving, and understanding how these changes are influencing pet owner behaviour is crucial for the success and sustainability of your practice.

That’s why we’re inviting you to our essential web masterclass: “Economic Conditions and How Veterinary Customers Are Behaving” on April 16th.

This isn’t just another webinar filled with speculation. We’re diving deep into the REAL data.

During this insightful session, we will be analyzing:

• Fresh insights from customer re-activations: Uncover trends in returning clients and understand what motivates them.
• Valuable feedback from recent customer reviews: Gain a direct understanding of current client satisfaction, concerns, and expectations.
• Exclusive data from our ‘veterinary industry tracker’: Get a bird’s-eye view of broader trends impacting the veterinary sector.

Here’s what you’ll gain by attending:

• A clear picture of current veterinary customer behaviour: Understand how economic conditions are influencing their decisions regarding pet care.
• Data-driven insights to inform your practice strategy: Move beyond guesswork and make informed decisions based on real-world trends.
• Actionable strategies to adapt and thrive: Learn practical steps your practice can take to navigate the current economic climate effectively.
• A deeper understanding of what your clients are truly looking for: Tailor your services and communication to better meet their evolving needs.
• A competitive edge in a changing market: Stay ahead of the curve by understanding the latest trends and adapting proactively.

Don’t miss this opportunity to gain a crucial understanding of the current market and equip your practice for continued success.

Mark your calendar:

• Date: Tuesday, April 16th
• Time: Midday (12pm) Qld time (please check the time for your state)

Ready to unlock the power of data and strategically navigate the current economic landscape?

Register here

We look forward to seeing you there and helping your practice thrive!

Advisory clients please book in for the annual workshop!

Our annual end of financial year workshop dates for 2025 for advisory clients:

Non Top Dogs – Sunshine Coast 2 September or Coogee Beach 5 September

Top Dogs – Sunshine Coast 1 September or Coogee Beach 4 September

Online – 11 September 

Reply to this newsletter to book in! Please book early as numbers are limited at each venue. 

Dog Tales!

Woof woof! My mom and dad always make sure I have a squeaky toy or a tasty treat after I’ve been a good boy, like when I sit and stay (even though chasing birds is way more fun!). It makes me feel so happy and important, like I’ve done a really good job. My mom NEVER uses the stick as an incentive because it would ruin our relationship and quite honestly make me turn into a couch potato instead of a working dog. Why on earth would I go to the effort of doing anything energetic if making an effort can result in such negativity.

I hear my parents talking sometimes about how humans who run the businesses where I can have my health looked after aren’t feeling so happy and rewarded. It seems that it may have something to do with the way a group of powerful humans called ‘politicians’ are treating them.

They say the powerful humans in government aren’t giving out any good boy treats or pats on the head to help small businesses keep doing their wonderful work of keeping pets healthy. In fact there seems to be less and less treats available in spite of having to work harder!  Furthermore they they seem to be using a stick and forcing them to do more and more paperwork for all sorts of things. Paperwork to a human, I am told, is the same as a dog like me being locked away in a ‘naughty boy’ room.

Maybe if those powerful humans called politicians had a furry friend like me, who needs a little encouragement and a yummy reward now and then, they’d understand that everyone, even those who run businesses, need a little incentive to help them wag their tails and keep going. It seems this years budget didn’t get it right. Arf!

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