Category Archives: Newsletter

APL Accounting News September 2019

APL ACCOUNTANTS LATEST NEWS


Keeping your team onboard

A number of you will have attended one of our workshops already with only one more to go in Melbourne. You should be focusing on your first strategy. Remember that you probably need to do something a bit different to get and keep your team onboard for the quarter, which is why we suggested using B1G1 – www.b1g1.com 

By using small charitable giving and linking it to your key strategy for the quarter it keeps the strategy in focus and remains on everyone’s mind for the quarter. It also differentiates your business to your clients. B1G1 makes this easy to do as you can set up your giving related to your strategy, have a ‘giving story’ you can add to newsletters and your website, tracks your giving (which also means tracking your strategy) and has some great add ons like a counting widget to put on your website.

Remember to let us know if you’re joining B1G1 as APL Accountants has started a ‘hive’ for all the veterinary businesses in Australia. As part of our hive you have a forum to communicate with other similar veterinary business owners that are linking their strategies directly to giving. Here you can discuss your implementations and other burning topics. We will also run web events for hive members to discuss their strategic implementation. Email us at admin@aplaccountants.com.au if you want further information.

Wages are increasing!

Having just completed this year’s round of annual reports we have now looked at the KPI’s for 2019. One of the most obvious changes is the increase in wages as a percent of turnover which for the first time ever has exceeded 40% (exclusive of superannuation payments).

This single metric has been steadily increasing over the last 3 years so the trend can no longer be ignored.

The wages increase is also accompanied with a drop in production pet veterinary unit – revenue generated by the average veterinary unit has dropped slightly.

We are pretty sure that this is not a problem exclusive to the veterinary industry – it seems quite obvious how many commercial properties are standing empty and how other small businesses are working shorter hours (or any extended hours are being performed by the business owner instead of salaried employees).

In the veterinary context, particularly for the independently owned practice, it’s not all doom and gloom because the average profitability of veterinary practices has not changed. It seems that most practices have been able to save money in other areas. It also means that it is exponentially harder for large corporates to operate in Australia where we feel wages alone without superannuation are higher than any other country where we have collected data. Add superannuation to the mix and you can see how tight the ship has to be run to maintain profitability.


Dog Tales!

We are slowly recovering from an overdose of poor staff engagement! Mom and dad have been travelling for client workshops and had some nights away from home. They know better than to leave us on our own all night – we have to have dinner, snuggles on the couch, toilet time, snuggles on the bed, breakfast, toilet time……so they paid our usual pet sitting company to have somebody stay over with from 6pm to 7am. Yes, a pet sitting company they have used for 8 years that has a policy of having the house occupied all night and sleeping on the bed with the dogs and dinner and breakfast for the dogs.

A newly employed pet sitter was going to look after us. She came for a visit a few days before and we decided she looked right for the job. She said and did all the right things so we didn’t complain, she seemed nice enough, did we get it wrong!

On the required date, she arrived, gave us dinner and took us for toilet time. 

However at 11pm she walked out in her party clothes and never returned. We cried a lot, barked a bit and crossed our legs thinking she would return, but we never saw her again. We were very lucky that she locked us in the office when she left us. Nurten and Joy on the bookkeeping team arrived for work in the morning, let us out, fed us and apologised on her behalf otherwise we would have been left locked up and hungry for 20 hours.

Suddenly we realised why everyone at work goes on about ‘staff engagement’ – clearly she was disengaged. She lied about her performance but the security cameras caught her out! We hope you are having better luck with your team, but remember things aren’t always what they seem!

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.

APL Accounting News August 2019

APL ACCOUNTANTS LATEST NEWS

PreWorkshop Webevent

Remember to register for our web event  here: https://zoom.us/webinar/register/WN_xmh2JvuHT0eHvVbIorJ2lw

This is for all of you attending an annual workshop this year that has not attended at least two workshops before. In this web event we will explain your annual reports and it is essential to understand these before attending a workshop! If you can’t make the event live then register so you receive a recording.

Date Wed 21 August

Time Midday Qld 

Registration – https://zoom.us/webinar/register/WN_xmh2JvuHT0eHvVbIorJ2lw

Your Price list vs ‘True Pricing’

Traditionally, veterinary prices have been benchmarked by looking at a list of individual fees and deciding whether they are high or low compared to national averages

For example you could look at your consult fee and if it’s $5 below the national average then you could assume that increasing it by $5 will improve the financial performance of your business without the risk of customers feeling that you are overcharging.

The same concept can, and has been applied to numerous fees in the veterinary industry through a number of surveys that are conducted periodically. This has been done for fees for vaccinations, repeat consultations, radiography services, dentistry and many other common services in the industry, and at APL Accountants we maintain a list of such fees every year.

However it has been very apparent that for a lot of our customers, looking at a fee on it’s own is not enough. Taking the example of the consultation fee – in many cases a practice will increase their consultation fee but see no tangible improvement in business profitability. At APL Accountants, this year we are ready to address this issue, and we call it ‘True Pricing’. This is a concept that when combined with the traditional benchmarking of single fees will help practices identify significant revenue loss.

So how does ‘True Pricing’ work and what does it mean?

In terms of meaning, simple logic dictates that a single price on a list is irrelevant when compared to the total invoice value consisting of many items that is charged and paid for when a customer leaves the building.

The concept is simple, let’s look at the consultation fee again and not look only at the consultation fee, but what else has been done during the consultation. If we are able to look at the total invoice value of every invoice where a primary consultation was performed (rather than just a single item), then we would have a better idea whether or not the practice is promoting additional wellness products and  preventatives during their consultations. So this would include the consultation price plus preventatives, blood tests, cytology samples and any other diagnostics.

Not surprisingly, a practice with a consultation fee that is below average but that has a higher promotion of diagnostics can easily have the total invoice value higher than a practice that has a higher consultation fee but poor diagnostic service promotion. In this case we would say that the ‘True Price’ of a consultation is higher where more service promotion is consistently applied.

Likewise a practice with very high fees on their price list but a severe missed billing problem will also have a lower total invoice value – a lower ‘True Price’.

So this year, thanks to Profitdiagnostix, we are able to perform this analysis precisely on all our customers AND also have benchmark values for total invoice values as well as single fees.

What’s more, in the future we will likely be performing this analysis on each vet in the practice! Inconsistent billing is a very common problem even within practices where there can be a huge variance between clinicians in their ‘True Pricing’, and it is an issue that costs the industry millions of dollars in lost revenue every year.

In summary, one of the things to look forward to in ‘True Pricing’ is that we will be reporting on:

Primary Consultation fee price, Primary consultation total invoice value and then comparing both of these to a national average.

The same analysis is also currently being applied to:

Repeat consultations, vaccinations, radiography procedures, desexings, dentistry.

As we speak, this analysis is identifying lost revenue in a large number of practices so it will be one of the key topics of discussion at our annual workshops.

Practices that are already clients of APL Accountants and have Profitdiagnsotix will get this for free, but if you are not a customer, you can attend our workshops for a fee:

  • Sydney 27 August
  • Brisbane 6 September – This event will be streamed LIVE for remote practices if you don’t want to travel
  • Melbourne 29 October

If you are interested, reply to this email.

We look forward to seeing you there

Dog Tales!

We have a new friend in the office. A big welcome to Bill Eastgate who has joined us in the office to help with Profitdiagnostix.

Bill who has managed a veterinary practice for a number of years has joined the dogs in the office and has a very similar job description to us doggies: 

  • We crunch doggie treats while Bill crunches numbers in Profitdiagnostix.
  • We come running to customers, tails wagging when they offer us a treat, and Bill runs to web meetings with customers when they offer him a Profitdiagnostix problem to solve.
  • We go to doggie school twice a week to learn tricks, Bill has been going to ‘Vet Business University’ and learnt all the APL Accountants tricks of the trade.

Note also that Vet Business University is available at a very reasonable price for all vets to learn the ‘tricks of the trade’ – go and have a look at www.vetbusinessuniversity.com

I think us doggies (particularly Strudel the sausage dog) are going to enjoy having Bill around.

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.

APL Accounting News July 2019

July 2019 www.aplaccountants.com.au

End of Year Payment Summaries

We are sending this newsletter out just before the end of June, because we want to make sure you have got your payroll organised!!

If you haven’t yet registered for single touch payroll do it right now – before you carry on reading this. If you are on xero here is how – https://central.xero.com/s/article/Set-up-Single-Touch-Payroll-STP

If you are on Single Touch Payroll then you no longer need to go through the laborious and tedious process of payroll summaries for your staff. Simply finalise your data in payroll before 31 July 2019. Their information will be available to them in myGov. https://central.xero.com/s/article/Finalise-Single-Touch-Payroll-data

Whilst we are thinking about payroll remember that the award will increase from 1 July 2019 – make sure you update the hourly rate for any employees that this affects.

Worried about the safety of YOUR data in YOUR practice management system?

You know how much we worry about your data and making sure that you own it and bigger companies don’t steal your information and use it! In order to assist independent veterinary clinics so that you know that you own your data and you don’t have an unforeseen event like what happened in the USA –  https://news.vin.com/VINNews.aspx?articleId=51953 we have approached a legal firm in Australia who has drafted up simple terms and conditions that you should ask your software provider to sign. The legal firm kindly donated half the money from our invoice to plant trees in Borneo for Orang Utans through our favourite charity B1G1 (yes there are some nice lawyers out there!)

If any of you (and that should be all of you) want to make sure that you own your data and not some big company then feel free to email us (admin@aplaccountants.com.au) and ask for a copy of the terms and conditions that you should insist on your software provider signing.

Don’t be embarrassed to protect your business and don’t bury your head in the sand like an ostrich and wait until it’s too late.

Annual Client Workshop

Have you booked a date yet? If not book soon as spaces are limited at some venues:

  • Sydney 27 August
  • Brisbane 6 September – This event will be streamed LIVE for remote practices if you don’t want to travel
  • Melbourne 29 October

These workshops are open to non-APL clients for a fee and free to existing APL clients. Email admin@aplaccountants.com.au if you are interested in attending.

Details of the workshop are at http://www.myvetexpert.com/

Annual Benchmark Checklist

Complete your checklist after 30 June 2019 and send it back to admin@aplaccountants.com.au 

We can’t compile your annual report until we have your checklist, download it here:

https://www.dropbox.com/s/iiovy06e04y03gw/2019%20Benchmarks-%20Year%20End%20Questionnaire%20%281%29.docx?dl=0

How did you do on vaccinations?

We know we have missed the last couple of days of the month in our anxiety to get the payroll information to you, but we will add a little on to our donation to compensate. You hopefully remember we were monitoring your vaccinations over May and June. This is how you did:

May 14,258
June 13,042

Thanks to you doing all your vaccinations we will be donating for over 27,000 days of vaccination protection against Rabies for dogs in Nepal.

Dog Tales!

They’ve packed their bags and left us. Where’s the chicken they promised to leave in the fridge for lunch time training? We were sorry to see Venessa and Debbie leave this month, not only will we miss Daisy and Stella but Venessa was the best at sneaking us some food at the lunch table and Debbie often used to give mom and dad some chicken so we could show off our tricks and dancing over lunch. Paws crossed their replacements will spoil us and hope they do a good job of spoiling you too!

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.

APL Accounting News June 2019

 

Need to call us?

We would like to make it as easy as possible for you to get hold of us, without waiting to be put through to somebody or leaving messages to be called back. As you can imagine, it gets very difficult to make contact once you go into consultations or operating theatre. You can book us directly on the same day at a time you know that you will be available and so will we. So we are saying ‘no’ to the inefficiency of phone tag and ‘yes’ to direct bookings for phone calls where we will call you at your chosen time.


This way we are completely focused on you and your call.

For clients that need to speak directly to Anne or Paolo then just book a 10 minute call on our calendly link, that way we don’t play phone tag.

For Anne:  https://calendly.com/anne-apl

For Paolo: https://calendly.com/paolo-lencioni

For Bookkeeping and Payroll queries: https://calendly.com/bookkeeping-payroll

For Profitdiagnostix queries: https://calendly.com/profit-diagnostix

You will also find these links on our website under Contact Us

 

APL Web Masterclass

Our final web masterclass for the 2019 Financial year is on 19 June. Here we will have Chris Harris discuss some common queries client ask us regarding paying their team and making sure they are within the rules of FairWork. They will also be answering any of your questions so make sure you sign up here https://zoom.us/webinar/register/WN_Ub1k6ewyRH2-Ri65u05wwQ

 

Improving Vaccinations – how are you doing?

Just a reminder that May and June are vaccination focus months for us. For every vaccination you do we will be donating through B1G1 for dogs in Nepal to be vaccinated against rabies, so get your vaccination numbers up! Check for those patients that have lapsed, make sure reminder systems are working and check the histories of every patient you see for current vaccination status. Most importantly remind your team!

 

End of year payment summaries

You will need to issue end of year payment summaries to all of your employees before 14 July 2019.  If you are on Single Touch Payroll you will not have to issue payment summaries as such, however you will still need to close off your payroll and file electronically with the ATO.

If you use Xero, see https://central.xero.com/s/article/Finalise-Single-Touch-Payroll-data for instructions on how to finalise the payroll for end of year.

Employees will need a MyGov account to access their payroll information if their employer is using Single Touch Payroll.

Superannuation contribution reminder

Final call for any salary sacrificed super top ups! Remember the cap this year is $25,000 including super guarantee so check with your superfund what they have recorded as your current contributions for 2019. This top up needs to be done no later than 20 June to ensure the money makes it into the fund on time. Also remember to get your staff superannuation paid around 20 June for it to be a deduction in the current financial year.

Dog Tales!

I am very proud to be able to run my courses and get over all the hurdles I face! It didn’t happen without consistent training, repetition and some failures. Does your business also face some hurdles where a bit of training and repetition could help? If so, check out https://vetbusinessuniversity.com/ Here you’ll find my persistent trainer, along with other determined trainers, have put together some really useful educational material to help train you and your team to get over your business hurdles. If they can train me, a naughty sausage, to run clear rounds on an agility course imagine what they can do for smart veterinarians like you!

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.

APL Accounting News May 2019

May

The dates for our client workshops are as follows:

Tuesday 27 August –  Sydney
Friday 6 September –  Brisbane plus web streaming for this event if you prefer not to travel.
Tuesday 29 October – Melbourne

Book a date with us, some venues have limited spaces!

ATO Natural Disaster Relief

If you were affected by the North Queensland flooding in January and February 2019, you may be eligible for a payment and lodgement extension to 31 May 2019 with the ATO.

For full details and the postcodes affected vist the ATO here.

APL Web Masterclass

Just another reminder we have a web masterclass planned each month focusing on a different strategy to improve your best practice performance, staff engagement, and your clients overall experience. Each month our masterclass will focus on one thing and we will be recording your results using Profitdiagnostix to see how well you perform.

We will be selecting a charity through B1G1 and making a donation to the chosen charity for the month based on your performance.

15 May Improving vaccination numbers

Repeat Consultations – how did you do?

For all the repeat consultations performed in April we will be giving orphaned children in Thailand access to educational books.

And according to Profitdiagnostix, our wonderful veterinary family has performed 6,102 repeat consults for the month of April – so that will be 6,102 days of access to educational books – well done.

Of course, in case you did not remember, or even worse if you did not attend our wonderful web event with TEDX speaker Paul Dunn, each attendee raised money for 100 meal deliveries to school children in India – and there were 300 attendees, so that makes 30,000 meals delivered.

Paul, a global business advisor spoke about ‘customer experience’ and connecting to customers in the context of a Veterinary business.

If you could not make it, watch the web event here:https://vimeo.com/330943393/1dee07b15b . Or even get your team to watch it, Paul is a fun guy to listen to.

And of course Paul would love to see some vet clinics join the hundreds of other businesses using B1G1 (https://www.b1g1.com/businessforgood/new-sign-up/) to connect to their customers using the power of giving. Let’s face it, if we can do it as boring accountants, then so can you as a funky vet practice.

Superannuation Contributions

As 30 June is steadily approaching you may want to check out your superanuation contributions so that you can make the most of any tax deductions.  The concessional contributions cap for any age remains at $25,000 this year, so if you have thought about topping up your super now is a good time to do it.

Please keep in mind that the contributions you paid last year in June 2018 may have taken until July 2018 to hit your account so you may want to order a statement from your super fund to make sure you include those contributions in any calculations for your 2019 financial year.

If you are unable to top your super up this year, the ATO has introduced carry-forward concessional contributions from 1 July 2018.  This means if you were only able to put $20,000 into your super for 2019 financial year, then you will have an extra $5,000 that you are able to top up with in 2020 financial year (on top of the $25,000 cap for 2020) if you choose to.

The first year you can use this will be the 2019-2020 financial year but only if you have a superannuation balances of less than $500,000. Unused amounts are available for a maximum of five years, and will expire after this. For more information click here.

The Vetprac workshop for buyers and sellers – Brisbane dates

If you are wanting to buy or sell a veterinary business in the next 12 months this workshop is for you!

Exit Strategies 24 May https://www.vetprac.com.au/wp-content/uploads/2018/12/Exit-Strategy_2019.pdf

How to buy 25 May https://www.vetprac.com.au/wp-content/uploads/2018/12/Buyers-Seminar_2019.pdf

If any of you are attending we’ll see you there!

Dog Tales 

After having a ring for Chica for over a year before he prophosed – Studel has finally wed the girl of his dreamphs. Their vowphs were exchanged in a phmall beachside town in a quiet intimate ceremony. Chica has promised to love and cherish him, his over bite, missing tooth, inability to prononce an ‘s’ and all the other quirks that come with a sausage dog. She snagged a good one … (See what I did there?)

Our Profit Diagnostix wizard/bookkeeper Deb also got married recently.  Congratulations to her and her new husband!

APL Accounting News April 2019

April

Reminders

The dates for our client workshops have been released 

Tues 27 August –  Sydney
Fri 6 September –  Brisbane plus web streaming for this event if you prefer not to travel.
Tues 29 October – Melbourne

Book a date with us and mark one of these off on the calendar as more details will follow soon!

APL Web Masterclass

Just another reminder we have a web masterclass planned each month focusing on a different strategy to improve your best practice performance, staff engagement, and your clients overall experience. Each month our masterclass will focus on one thing and we will be recording your results using Profitdiagnostix to see how well you perform.

We will be selecting a charity through B1G1 and making a donation to the chosen charity for the month based on your performance.

Mark these dates in your calendars as they are events not to be missed! 

  • 17 April – Improving the client experience with a 4 times TEDx speaker
  • 15 May Improving your number of vaccinations

Consultation results for March

March was all about  consultations and was complimented with a great web event on consultations. We also wanted something special to happen when your practice performed consultations – and so for every 250 consultations performed by our wonderful client base, a rescued animal in Nepal also received a consultation and some much needed medical help. All this thanks to b1g1.com which allows us to combine a ‘giving experience’ with your business performance.

By the end of March, 150 animals in Nepal were given access to much needed medical care – so well done.

In April we will be focusing on Repeat consultations, and this was preceeded by our web even just a few days ago on Repeat consultations.

As repeat consultations are all about client education on the value of ongoing monitoring, we thought it fit to tie the experience in to something educational. So let your team know that in April, every repeat consultation they perform will go towards giving access to educational books to orphaned children in Thailand. We are hoping that our wonderful customer base will perform more than 6000 repeat consultations in April.

ATO paper Activity Statements

The ATO had previously granted some clients a temporary exemption from lodging their monthly activity statements electronically.  The exemption was given to allow these clients to transition to lodging online.

This exemption is no longer in place and activity statements will need to be lodged electronically once an activity statement is lodged electronically through the following:

– online services for agents

– practitioner lodgement service (PLS)

– portals

– Standard Business Reporting (SBR) enabled software

– when a client links their myGov account to the ATO

For more information click here.

Single Touch Payroll (STP)

If you employ 20 or more employees you should already be using STP as this was introduced by the ATO from 1 July 2018.  If you employ 19 or less employees you will need to begin using STP from 1 July 2019 if you haven’t already. 

Top Tip:  If you start using STP before 30 June 2019 you will not have to prepare payment summaries for your employees for this year.

If you use Xero you would have noticed a big white box in your payroll screen. Seriously, you can’t miss it!  To get things moving with STP click “Get started” then follow the on screen instructions.  Connection will require a call to the ATO however this is fast and painless (like ripping off a bandaid!). Make sure to have an ATO document ID within reach – usually a document number on a BAS or IAS is enough. This is to prove you belong to the entity and will also hinder random strangers setting up the STP for you.

In your Xero payroll code setups you will need to make sure your codes (which will be most codes) are ticked to be reportable at W1 on the IAS and/or BAS form.

Once you are connected to ATO, checked your codes, you are ready to lodge your payroll electronically and say goodbye to end of year payment summaries – and who doesn’t want to do that!?

Employees will be able to log in to their myGov app and see year to date tax and super information. When the employee’s income statement (previously payment summary) is tax ready, they will receive an inbox notification on their myGov app.

For employers more information can be found by visiting the ATO.

For employees more information can be found by clicking here.

Dog Tales 

Well, this newsletter has proven to be drier and more bland than store brand kibble.  Next month it needs to be livened up!  To make the APL tails wag in this office please send us some theme ideas for the newsletter.  It would make it more exciting for us to write, and no doubt more exciting for you to read.

Some of our personal favourites were Halloween, The Ekka, Boy Bands, Bon Jovi and most recently Queen.  Some of these themes and absolutely pawfect puns have been so stealth we didn’t even realise we had thrown them in until after we published!  True literary masterpieces.

Treats all round!

Strudel, Chica, Stella & Daisy.

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.

APL Accounting News March 2019

March

New equipment write off amount for small businesses

For once something in your favour! All small businesses (turnover less than $10 million) can now write off new equipment costing up to $25,000 (up from $20,000). This is until 30 June 2020. Remember this means that the full amount is a deductible expense (reducing profit and therefore your tax) rather than the depreciation amount of the item (which is only a small amount each year).

Who owns the data in my practice management system

You would be surprised to know that there are no laws in place to deal with the issue of data ownership! Intuitively one would think that if you have a list of customers, their contact details, some clinical notes and a whole lot of billing history, that the ownership of that information would rest with the business that deals with the customers.

Unfortunately this may not always be the case, and software providers sometimes feel that they have the right to either ‘lock’ practices out of their data OR even use the data for their own marketing purposes – yes their own purposes.
If you don’t believe us read this article published by Vin News, you may have thought we were overthinking things last year when we kept on at you about your data, well in fact it seems in many cases it’s not your data

https://news.vin.com/VINNews.aspx?articleId=51953

The question is, what should you do about it?

Personally, we feel that the veterinary industry has to get on top of this problem quickly. I would approach my software company (or new software company) and see whether their terms and conditions contain clauses that:

1. disallow them from using your data to directly approach customers (pet owners) for any reason whatsoever without your consent each time.
2. disallow them from selling your data or giving your data to any other parties where a conflict of interest may arise eg. provide your pet food sales data to a pet store to identify areas where there are high pet food sales through vets. If any market research is to be performed, you need to give your consent.
3. allow you unrestricted access to all your financial, customer, patient and reminder data – so that they cannot ‘lock you out’ of using this data the way you want to, to improve your business.

Move away from providers that are not proactive about your data – there has never been a better time to change software with so many new and modern systems available.

Don’t let your data get turned in to ‘doggy-doo’

There has been a huge amount of movement in the last few months with practices changing software.
Like it or not, in the modern business environment, you have to embrace progress, and at APL we are all about helping you do this and encourage practices to move to newer systems.

We would however like to issue a very strong warning about how your data gets transferred from your old practice management system to your new one!
We have had some clients in the last few months that have been caught out by very poor data migrations so we think that you need to be aware of the process and impact that this can have on your business.

Generally, your new software provider will do a ‘test’ data conversion and get you to review and approve it –  it is YOUR responsibility to do this properly.
In practices where this has gone wrong, the business owners have simply not given the converted data an adequate review because they probably did not know what to look for. Simply looking at your customer list and a few consults is NOT enough!

Here is what needs to be assessed and what goes wrong if it is done incorrectly:
1. All your customers, their contact details and patients need to be there – and they usually are because this is the most simple part of a data conversion.
2. All your clinical notes need to be present with the correct dates – this is obviously important because you need this to apply consistent care to patients. Again, this is normally transferred correctly.
3. People that owe you money (debtors) – many data transfers spend a lot of time getting this correct, to the point that they are prepared to ignore other more important issues in the data transfer.  Business owners also put a lot of emphasis on this, but the truth is, for a normal small animal practice, the number of debtors is reasonably low and in many cases it is easy enough to manually transfer debtors into the new system as this can be done in a couple of hours.

Unfortunately, this is as far as most practices check their data, but its not enough.

4. All your invoices have to be present with the correct date. This is not only a legal requirement, it is also essential because without this you will be unable to monitor historic trends for your business. Imagine not knowing for 2 years after changing software whether your practice is invoicing more or less than last year, or whether your customers are spending more or less.
5. All your invoice items (the various products and services on each invoice) have to be present and tagged with the correct staff member and date. Without this you will lose the ability for 2 years to accurately monitor staff members performance eg. is Dr Dolittle’s average invoice value more or less this year vs last year. How many consults has Dr Dolittle been doing over the last 12 months vs Dr Who.
6. The total of all your invoice items over the year should roughly be the same as the total sales in your accounting software – this is a legal requirement should the tax office decide to audit your invoices.
7. Are all your vaccination reminders and triggers for these reminders present (sending and setting)? As soon as you start using the new system, you will need to be SENDING out reminders to patients who have had certain services such as vaccinations about 1 year ago – have these been transferred to the new system. Also, as soon as you invoice a vaccination in the new system does it SET a reminder sometime in the future correctly? A poorly run reminder system costs a practice $60,000 per vet per year – make sure that this is correct.

A few other things that you should expect:
A lot of business owners complain that “the data transfer did not transfer all my documents and templates”. The reality here is that older systems handle this sort of data very differently to newer ones and in many cases it is impossible to transfer this data across automatically – it has to be done manually. So prepare yourself for this as it varies between the software companies whether they do it or they expect you to do it.
What about things like digital xrays and laboratory reports? Again the way this is stored in different systems is highly variable and in some cases very difficult to transfer automatically. Sometimes the only solution is to keep these on the old system as a reference and look them up in the old system if needed. If this is important to you remember to ask the new software provider whether they can do it.

So where have we seen things go wrong?
Most of the data transfers we see will corrupt every single invoice and invoice item in terms of dollar value and date – this is the most common issue.
Second of all, most data transfers will not get all the reminders and all the triggers to set future reminders correct. Consider now if both of these scenarios are present – all historic vaccination dates are incorrect and you have no future reminders set – you can no longer even look back at a patient history to see when they had a vaccination and correct this manually. Say goodbye to $60,000 for each vet you have!
Finally, these incorrect data transfers leave the practice flying in the dark. Your most important KPI – how many active clients you have, relies on a 2 YEAR average of invoices and invoice dates. This means your most important KPI will be inaccurate for 2 years! The same applies for average client spend per year.
Other metrics such as average invoice value, revenue for each vet, how many consultations/vaccinations/ repeat consults you did in summer last year vs this year will also be incorrect.

So what should you do if you intend changing to a more modern system?
Simply, you need to assess your test data migration properly based on the above points. If you sign off on a bad data transfer, it’s your own fault, don’t blame the software company.
If you get stuck, contact APL Accountants and we will help you and advise you.

You made something special happen in January and February! 

January and February were all about being observant and looking carefully at those Xrays. And our enthusiastic APL clients took 1600 radiographs in January and about 1300 in February – 2900 in total were the number of patients radiographed.

And with each patient being radiographed, something special happened ti a child in Africa – they got a dose of vitamins, including vitamin A, which will help their eyesight. They may never have to look at a radiograph, but at least now they can continue to read and learn.

Thanks to our partners B1G1.com for making this type of global impact possible by using their apps.

Here are the results for radiography volume in the profession over a year – beats us why it fluctuates so much!

Dog Tales – too many bits and bytes

Really?! The whole newsletter had a technology focus!

We dogs don’t really care much about tech. It’s not our fault, our noses are wet so when we type with them, the keyboard goes snotty and breaks after just one day’s use. So to us, anything about computers and tech is meaningless ‘bits and bytes’. But we do understand the concept of ‘ownership’, each of us owns a number of human slaves for example. So the concept of data ownership is something we can relate to and feel fiercly protective about.

Don’t let the PIRATES out there steal what is rightfully yours!
If they try, let us know and we might byte their bits – that’s the sort of tech we can relate to!

Daisy below showing that she is serious about byting some bits

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.

APL Accounting News February 2019

February

With a burst of light, and a loud fizzle – there goes January!  Another One Bites the Dust.

APL Web Masterclass

Just a reminder we have a web masterclass (not just Radio Ga Ga) planned each month focusing on a different strategy to improve your best practice performance, staff engagement, and your clients overall experience. Each month We Will Rock You while you focus on one thing and we will be recording your results using Profitdiagnostix to see how well you perform.  We know there is a little bit of Freddie Mercury in everyone, performance is everything.

We will be selecting a charity through B1G1 and making a donation to the chosen charity for the month based on your performance.

Mark these dates in your calendars as they are events not to be missed! 

  • 20 February – Improving the number of consultations in your clinic
  • 27 March – Improving the number of repeat consults in your clinic
  • 17 April – Improving the client experience
Schedule may change Under Pressure depending on demand.

So what sort of special things are happening in the world at the moment?

It’s a Kind of Magic when something special happens to someone in need because of something that you do! But how does this magic happen? By using a charity portal called B1G1 (www.b1g1.com) we are able to create special impacts all over the world when you guys do something good at your practice.
So In December we said that we would give life saving malaria treatment to a child in Kenya for every cytology sample that you guys collected – and as a result you guys gave life saving treatment to over 3800 children.
Now in January and February we are going to be focusing on ‘One Vision’! Be thankful for your eyesight when you assess xrays because many children in Africa suffer from impaired vision due to lack of vitamins – they don’t need to assess radiographs, but they do need to be able to see properly to learn to read.
So for every single patient that you guys xray in January and February, you will also be contributing to a dose of vitamins to a child in Africa.

February due dates

So now that January is all sorted – Don’t Stop Me Now!  Here’s what needs to happen in February:

January IAS (if you pay PAYGW monthly) is due 21 February

December BAS is due 28 February

Super (if you pay monthly) is due 28 February

Since it’s Valentine’s Day month the APL Facebook page could do with some February love.  We’d love to see pictures of your pets! Click here

The dates for our client workshops have been released 

Tues 27 August –  Sydney
Fri 6 September –  Brisbane plus web streaming for this event if you can’t attend physically.
Tues 29 October – Melbourne

So mark one of these off on the calendar because if you don’t we will think you’re Slightly Mad.

Dog tales

I Want To Break Free!

We have Somebody to Love at APL HQ who is new to our pack.  Nurten has adopted a rescue cat.

Everyone at APL is looking forward to meeting Mischa, however we may have to stick to pictures for now as this is pretty much a dog office – because We Are The Champions!

Regards

APL Dogs

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.

APL Accounting News January 2019

January

We hope you enjoyed a break or at least some good cheer over the Holiday season and you are now ready for 2019.

Let’s hit the ground running 

Here is a simplified list of things to do in January:

1.  Payroll tax – If you are involved with payroll tax you have until 7 January to lodge and pay for the month of December. If you are in QLD, NSW or SA the Office of State Revenue has given an extension to 14 January to lodge and pay December payroll tax.

2.  BAS – December BAS is due on the 28 February if you lodge quarterly and use a tax agent, or 21 January if you lodge monthly and prepare the return yourself.

3.  Superannuation – Superannuation payments for December or December quarter are due before 28 January.

4. Benchmarking reports – If you are a quarterly or 6 monthly benchmarking client you will need to have your December figures ready as soon as possible to enable us to prepare your reports.

APL webinar series – What is happening this year?

We have a webinar planned each month focusing on a different strategy to improve your best practice performance, staff enagement, and your clients overall experience. Each month we will focus on one thing and we will be recording your results using Profitdiagnostix to see how well you perform.  We will be selecting a charity through B1G1 and making a donation to the chosen charity for the month based on your performance.

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! 

  • 30 January – Improving the number of xrays in your clinic
  • 20 February – Improving the number of consultations in your clinic
  • 27 March – Improving the number of repeat consults in your clinic
  • 17 April – Improving the client experience
Schedule may change depending on demand.

Cytology results from December – how many lives have breen saved?

We know that cytology saves lives, for example identifying that ‘lipoma’ that end up being a mast cell tumor when looked at under the microscope. But to make double the impact, as promised for the month of December, for every cytology sample collected by you guys, we will be donating to buy a dose of malaria tratment for someone in Africa.

So how did you guys do?

3894 cytology samples were collected by the practices using APL Accountants in one month!

That means that 3894 children in Africa will receive life saving malaria treantment!

Improving the number of Xrays in your clinic for January

The month of January will be all about Xrays, and taking more of them so that you can increase your diagnostic accuracy. Because xrays are something visual, we can do something special for someone’s vision for every single xray you take.

In Africa, blindness due to lack of vitamins is common in children, so for every xray you take, we will donate a daily dose of vitamins to a child:

Dog tales

We had a fantastic break and with our new life jackets that we got for Christmas and we got to do lots of paddling with mum and dad. We are definitely ready to hit the ground running despite our sea legs, and are looking forward to the new year! Please note in the photo, the ‘power of delegation’ – we delegated the task of propelling the paddle board to dad and left the task of ‘enjoying the view’ to ourselves.

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.

APL Accounting News December 2018

December – it’s finally here!

Single Touch Payroll (STP)

By now you would have heard whispers here and there about Single Touch Payroll.  This means it’s now possible to lodge your payroll electronically with the ATO.  In fact, if you have over 20 employees or more you should be now using STP as it is now required from 1 July.  Once set up it means that you will no longer have to do payment summaries at the end of the financial year and all employees payroll information is available to them through MyGov.

If you use Xero and employ over 20 people you may have noticed a big white box in your payroll section.  This is where you go to set up to get things rolling.

Before registering (in the big white box), make sure your payroll codes are set up to be included at W1 on your BAS and IAS. Click on the code, open it up, and make sure you tick “include at W1” where applicable (which will be most payroll codes).

After that it is quite simple, open the big white box and follow the on screen instructions.  However this will require a call to the ATO to have it activated.  We know, we know … but from our experience this will take approximately 5 to 10 minutes on the phone, instead of the usual 28 working days, so this is actually a pretty good outcome.

If you have less than 20 employees and also have the big white box appear it is ok to set up STP for yourself as well.

For more information visit: https://www.ato.gov.au/Business/Single-Touch-Payroll/

How much difference did your dental performance make in the world

The results are out! November was dentistry month for APL and for every dental you performed, we gave a day of dental hygeine to a child in the third world.
What’s more, for every 40 dentals we donated to a full dental check-up to a person in the 3rd world at risk of dental disease.

So did your actions make a difference? Here are the results:

Yes, you guys completed 1700 dentals in November, and now something very special will happen:

  • Underpriveliged children in India will receive 1700 days of preventative dental hygeine
  • 43 people in an underprivelidged area will receive a full dental check up

So give yourselves a pat on the back and share this with your team – your dentals made something special happen!

Your cytology samples will give ‘the gist of life’ for December

So for the month of December we would like you to focus on ‘bugs under the microscope’ – cytology! And what better way to celebrate every single cyological sample than to give a child in Africa life saving malaria treatment (Malaria is a protozoan disease which of course can be identified on the microscope). We think that this would be a very special Christmas gift for a family in Africa so we will use Profitdiagnostix once again to measure the number of cytology samples that all of you collect. And for each sample we will fund malaria treatment to a child in Africa using the online charity B1G1 (www.b1g1.com).

Please feel free to share this with your team to inspire them to save lives in both pets and humans (we can’t argue that sometimes that fine needle aspirate is indeed also a life saver).

Also, in keeping with the theme of ‘bugs under the microscope’ we will run a December webinar on ‘cytology’ and find out what some practices have done to inspire frequent use of cytology as a diagnostic tool.

This web event will be held on December 12th at midday Brisbane time (1:00pm VIC and NSW) – 45-60 minutes duration.
You can register here: https://zoom.us/webinar/register/1315426881059/WN_QQOOJ3UZRSqaS6EalXQxJA
All your team are welcome, these events have a strong clinical focus and its all about high standards of care, not money.

Fringe Benefits Tax (FBT)

We had a few queries about this last year, so we have decided to include it again in our December newsletter this year.

Don’t let the ATO crash your party!  We’re all about having fun here at APL but we are also accountants therefore ‘rule followers’ – even when we party!

The ATO have some grinchy rules in place to make sure they put a damper on things.  Here is a summary:

The gifting process must be ‘irregular and infrequent’ (much like Strudel and Chica’s display of obedience and recall).  There is also a limit of less than $300.  Anything of $300 and over will incur a fringe benefits tax obligation.  Any gift under $300 will not incur fringe benefits – but is it a deductible expense?  It is only deductible if it is not classed as entertainment.  For example:

1.  You buy your staff member and their pet (of course) a bag of treats worth $100 (it’s a big bag).  This is a deductible expense and no fringe benefits is triggered.

2.  You take your team out to a (pet friendly) restaurant and the meal costs $200 per head.  This does not trigger fringe benefits tax but is not a deduction either because meals out are classed as entertainment (regardless of how tame the gathering is – it’s still entertainment).

3.  You buy gifts worth over $300 for each staff member.  This is like taking your dog to a no dog beach.  Of course it’s possible to do, a ton of fun, your dog will love you and you will probably get away with it 80% of the time, but this would trigger fringe benefits tax, and you would be hit with a penalty and a ton of paperwork that no one wants to take care of.

With these 3 scenarios in mind – party as you wish!

For more information visit: https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/In-detail/FBT-and-Christmas-parties/

Our trading hours over the Holiday break

We will be closing at midday on Friday 21 December 2018 and we will reopen again on Monday 7 January 2019.

If there is an urgent matter between these times please contact Anne.

Thank you!

With another year down we’d like to thank each and every one of you for a wonderful year.  We’d also like to take this opportunity to wish you all the very best for the Holidays and New Year.  May it be safe, merry and prosperous!

Dog tales

Single Touch Payroll has arrived, so we decided to take matters in our own paws and test how easy it really is.

Chica volunteered to make a video for those of you who may find it difficult:
https://drive.google.com/file/d/1Nap58o5-GrFHNtHNCTmoBry3G0EN5-LZ/view?usp=sharing

Say (or bark) no more!

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.

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