Book Keeping Course for Pharmacists

[Sheppard]

With the recent Government legislation wiping out a significant portion of income for pharmacies nationwide, a number of our clients are looking at ways to reduce their costs and one way to do this is to teach them to do their own book-keeping.

With this in mind, we are currently researching the possibility of holding a number of book-keeping courses for pharmacists to teach pharmacists how to at least prepare their own VAT returns.

If you are interested completing the survey drop me a PM.

[johnep]

Sage will work out cheaper. VAT return not required unless registered for VAT. Me, I might have considered banning poster.
johnep

[DavidS]

Could be useful, though. As in a useful skill to learn, and they seem pharmacy-oriented.

[Sheppard]

My accountant mentioned a number of his clients were interested in learning book keeping to reduce their costs.

He has 8 pharmacy clients and would like to do a bit more research if a book keeping course for pharmacies would be viable.

He helped me out with my exams so I'm helping him out with the research.

I would assume most pharmacies would be registered for vat as the threshold is around 75k turnover. Im not an accountant though so im not sure about Sage. If you have more info on that it might be useful.

[johnep]

Pharmacies yes, individual pharmacists and locums no.
I have done my own book keeping for 20 years, and it is not easy at first. Golden rule: KEEP RECEIPTS.
However, Sage run their own courses and the software has extensive help.
johnep

[admin]

The book keeping is easy - it's the accountant's bits that are hard!

[DavidS]

The book keeping is easy - it's the accountant's bits that are hard!

Absolutely, the problem is that if your bookkeeping isn't clear, then your accountant has to sort that out at their horrendous hourly rates before they can do their clever bit.

A rudimentary knowledge of bookkeeping is absolutely essential for running a pharmacy business, and, indeed, for understanding an accountant.

[johnep]

OK lets start with some questions.
What is the difference between gross and net margin.
johnep

[shan]

Gross is the difference between the final value you earn and the value at which you purchased an item (in this case may be your own earnings/ services) Net margin is the figure -- gross margin less all accountable and allowable expenses.

I hope that's it

Shan

[hibernia]

A rudimentary knowledge of bookkeeping is absolutely essential for running a pharmacy business, and, indeed, for understanding an accountant.

Agreed. Most of us taught ourselves book keeping, not always the best idea, but there are no shortage of courses available, your local County Enterprise Board or FAS are good places to start looking and I've heard the IPU may run courses in the near future.
There are also those '...for Dummies' books that are usually very good, I'm sure they must have ones on bookkeeping.