Something for all care homes to consider – remember it is never about you and always about your clients, your residents!
I was very impressed with the progress made in computerised care plans, and loved the family access to live care plans through the portal of the Open Pass system – truly a great help to becoming an Outstanding care home
Virtual FD stands for Virtual Financial Director Services. OBC acknowledges that all businesses, regardless of size, face the same issues as they come up, Therefore, it uses this line of thought to make sure that all businesses and corporations have the same high-quality financial opportunities as do the rest of the enterprises in the market. This care-home accountant company includes this service as part of the services it offers, meaning that it helps the business owner reduce the risk, complications, and drawbacks of employing a financial director personally. Below are some of the tasks that OBC virtual FD will take care of in your business.
The Eight OBC Virtual Financial Director Services
OBC aims at kick-starting business growth by offering the following services:
1. Care home accountants review the performance of operations and systems within the business to improve the quality of how the business runs
2. Care home accountants prepare the forecasts and budgets of the business. This helps to reduce the risks and costs within the business, as a way of maximizing the profits of the business.
3. Care home accountants attend board meeting on behalf of the manager
4. The financial directors manage the business accounts on a monthly basis.
5. Care home accountants can double as company secretaries when the need arises.
6. The control and implement financial systems of the business as the manager and his or her team go about their tasks.
7. Financial directors can liaise with external parties to the business on behalf of the manager such as the bank, HMRC, stakeholders, and even auditors.
8. Care home accountants manage and control the movement of cash within the business.
OBC works to provide their clients with three virtual financial director services. They are crunch boards, Xero cloud accounting software, and receipt bank cloud software.
• Crunch boards- OBC use this suite to provide the business of the client with updated financial records. The boards entail predictive scenarios and boards that use non-financial and Xero data to settle on its results successfully. It is a strategic planning initiative for your business in a bid to fast truck the achievement of your business goals.
• Xero cloud accounting software- This software helps your business achieve high-quality accountability. It allows the manager to share their business numbers with the accountant and the entire care home team. It allows the performance of the following actions: online payment, access to cash flow at any time of the day, automatic sending of invoices to the respective recipients’, and the importation and coding of ban transactions as they happen.
• Receipt Bank cloud software- Companies share the same hassle when it comes to record keeping of bank receipts. They are faced with the tragedy of loss or destruction of bank receipts. This software comes in to alleviate businesses against this hassle. The software works to change the physical receipts into data that is accessible by anyone in the company. Instead of printing receipts, the data can be sent directly to the business via mobile apps, post, email, or any other convenient form of transferring information.
For more information on OBC, visit their website on www.carehomeaccountants.com or reach them through 01323 720555 or email@example.com.
This is the gold standard as far as I am concerned and it all hinges on values values values – congratulations to Avnish , Ram , family and team – onwards and upwards
Incredible day 1 of 4 day of going to all the Hallmark Care Homes – to celebrate 20 years of the company this month with our team, relatives and families! #HCHis20
Have you made sure your Care Home will not be one of the over 50% of businesses who have not got a clue about RTI?
Real Time Information (RTI) is a new system that has just been introduced by HM Revenue & Customs (HMRC) for the reporting of payroll information, which will effectively require employers and pension providers to provide detailed information to HMRC every time employees are paid rather than through the year end return. Under RTI, the employer will be required to submit information; including details of earnings and the tax and NIC deducted whenever a payment is made to an employee.
With the implementation of RTI becoming mandatory, without exception, from April 2013 through to October 2013, RTI will be the biggest single overhaul to the payroll since PAYE was first introduced in 1944.
OBC The Specialist Care Home Accountants are specialist Chartered Accountants dealing with Care Homes all around the country, and have a dedicated payroll bureau offering RTI support to their Care Home clients – visit http://www.carehomeaccountants.com/payroll-and-bookkeeping for more details.
Call our payroll supervisors Kerry Baldwin or Pippa Prichard today (Tel 01323-720555 ) and discuss how to avoid being fined.
A care home financial advisor helps ensure that facilities can maximise their profits and minimise their tax liabilities. Not every accountant will be able to do this as they do not specialise in the care home field. There are many benefits to having a specialised care home financial advisor. A team that’s dedicated to the care profession not only knows the ins and outs of accounting, but also holds specialised knowledge that will bring your care home to the next level financially. In this competitive market, you need all the help you can get in order to get ahead in the care home and health care industry. Here are four things a care home financial advisor can do for you:
1. A care home financial advisor offers specialist management accounts that are geared specifically toward businesses like yours. A care home is a very specialised part of the health care profession, and having an accountant who is not only familiar with how the health care market works, but also how specifically care homes work, is extremely important in today’s rapidly changing environment.
2. Every care home must run annual audits, performance measurement reports, and improvement reports, and a care home financial advisor not only performs this service, but also helps you analyse the results so that you will know that you are getting the most out of your business while providing your clients with the best care available.
3. A quality care home financial advisor goes beyond the expected and provides other services, like team motivation or leadership workshops. Every little detail is important when you’re running a care home because it’s easy for staff to become worn out in this demanding profession. Pair that with the industry’s high turnover rate, and you have a problem that only a care home financial advisor who looks at the whole picture can actually solve.
4. Planning for the future is an important part of running any kind of business, and a care home financial advisor offers the strategic financial planning and specialised knowledge you need to ensure a healthy future for your nursing home.
OBC Care Home Accountants provide financial services to nursing homes in the Sussex, Kent, and Surrey areas of the UK. The business offers compliance services, tax and strategic planning, profit maximisation, financial management, and team motivation workshops that are geared specifically toward the owners and staff of care homes.
As the director of a nursing home, your first priority is caring for your patients and residents. The more time you spend dealing with paperwork and finances, the less time you have to devote to your patients. That’s why you should choose the best bookkeeper to handle the paper trail for your nursing home business.
Only a few bookkeepers specialise in nursing home accounting. This is the best way to go because they know all the ins and outs that are specific to that field. OBC Care Home Accountants is one such bookkeeping agency that specialises in nursing home accounting in the Sussex area. They can help you to maximise your profits while limiting liabilities. They have real time online bookkeeping services for your day to day needs. They also offer year end audit services to help you assess performance and discover areas that can be improved.
The most important consideration in choosing a bookkeeper is trust. This is one of the reasons why it’s good to choose a bookkeeper who specialises in the area of nursing home care—you share the same primary goal. Additionally, a firm that specialises in bookkeeping in the health care sector has the inside knowledge to help you increase your profitability while also complying with regulations and caring for your patients.
A great way to decide whether a bookkeeper is the right fit for you is to get a feel for their reputation. Talk to other business owners and find out what kind of experiences they have had. Ask around and get references. Look at their portfolio. Many companies feature testimonials on their websites that give you a glimpse into what kind of service they provide.
Investigate your potential bookkeeper’s credentials. It is essential to make sure that whomever you hire is accredited by an agency such as the Association of Accounting Technicians (AAT) or the Institute of Chartered Accountants in England and Wales (ICAEW) and adheres to a code of ethics.
You can never be too careful when it comes to choosing a nursing home bookkeeping service. As with any business, keeping the books is a very important piece of the puzzle because you are always required to know how much money is coming in and going out. Also you should be able to easily look into your nursing home’s numbers to find out how you are doing in the area of profitability.
Finding the best health care accountants for your business can seem like a big job, but it becomes a lot easier when you know exactly what to look for. After all, you need more than just any accountant. You need someone who specialises in health care. Here are some things to keep in mind when searching for health care accountants in Sussex, Surrey and Kent.
First of all, think about how large your business is. Do you need an entire team of accountants, or will a small office with just one or two employees do? It all depends on the size of your practice. In the East Sussex, Kent, and Surrey areas of the UK, there are firms of all sizes, so you pretty much have your pick when it comes to sizes of firms.
After you narrow down your list of health care accountants to firms that are the appropriate size, then it is time to look at their experience. The firm you choose should have many clients in the health care field. This will help ensure that the health care accountants at the firm are always up to date on changing laws in the area of health care and the way finance relates to health care. OBC Care Home Accountants is one example of a company that specialises in health care businesses in the south east area of the UK. The firm has built up a reputation as experts in the field of health care accountancy.
Another question to ask when you are considering health care accountants is what kinds of services they provide. Accounting should include much more than just tax preparation. High quality health care accountants should be able to help your practice maximise profits and minimise tax liabilities.
Some health care accountants can provide additional services like payroll and bookkeeping, which can even cut down on some of the paperwork your office workers have to keep up with. Real time online bookkeeping is also a very helpful resource to have with health care accountants because then you always have access to current updated books, and your employees do not have to be the ones to keep them up.
Finally, make sure you choose health care accountants that can help you with strategic planning. Every business must plan for the future, and having a financial advisor who can help you prepare for growth is vital to getting ahead and staying there.
Money is one of those things that make the world go round and there are times when it can be difficult to keep track of your finances. To avoid going into debt or becoming overwhelmed, you might need some help and if your business is in Sussex, get some financial help from the professionals at OBC Care Home Accounting Services located in Sussex.
The accountants and business professionals at the OBC Care Home Accounting Services Sussex have the expertise to help you run your finances. That expertise comes from the many years of experience that they have in the industry, helping people make wise everyday financial decisions to better their lives. For instance, if you need to live on a fixed budget because you only have so much money, they can help you make best use of that budget to allow you to live a comfortable life. They offer tax planning advice for when tax season comes around too.
Not only can the professionals at the OBC Care Home Accounting Services Sussex help individuals and families with their finances, but they can also help business owners as well. Some of the things they can do for business owners include focusing on profit margins to keep your business in the black, determining strategies to cut costs and drive the business, and they also provide traditional accounting services like taking care of business’s pay roll and other budgetary needs. This help allows business owners to focus on their businesses, residents and employees. Nothing is worse than owning a business only to have it suffer because the owner spends too much time crunching numbers instead of concentrating on the people who make the business what it really is.
All in all, hiring the professionals OBC Care Home Accounting Services Sussex is an obvious thing to do if you want to alleviate the financial burden. To see what they could do for you, call or email them today. You will be glad you made the decision.
A care home financial adviser can help you keep your business in financially sound. There are many benefits that this type of professional service can offer you. Not everyone has skill in finance. Learning how to handle money on your own can be a tedious, time consuming task that requires a great deal of trial and error. Instead, improve your care home business by hiring a skilled care home financial adviser.
Let an Expert Guide You through the Tax System
Every business, whether in East Sussex or farther afield, must accommodate the tax system. It is a requirement to stay legal and legitimate. How do you know when you are paying the government too much each year? A care home financial adviser can help you plan for the tax year. The right professional has the expertise and knowledge that will help your business stay legal without overpaying. Your care home financial adviser can also help you come up with an effective plan to ensure that the funds are available when it comes time to pay taxes. This is not only a good thing for your business, but can also help reduce the stress that comes with running it.
Improve Profitability with Proper Financial Planning
There may be areas in your care home business budget that could use some improvement. A care home financial adviser has the tools to inspect your current budget and determine where you could save money or improve profits. By spending and saving effectively, you can increase the amount of money earned each year through your care home. This is a vital part of growing your business, so make sure you do it right with the help of a care home financial adviser.
Payroll, Bookkeeping and Account Management Services
Other challenging financial areas include payroll, bookkeeping and accounts management. While some aspects of these tasks seem simple enough, things get complicated as various rules and regulations come into play. Financial accuracy is very important. A care home financial adviser can help you adhere to all legal requirements in all areas of your care home business.