The accountant would do all the necessary paper work relating to preparing the year-end accounts for the Practice. However, the practice has to ensure all the financial transactions, payments received and made are correctly logged and receipts and documents filed for the accountant to prepare the year-end account.
11.1 Mortgage details
The mortgage for the Surgery buildings and any property used for surgery purposes e.g. GP’s private flat, if adjacent to the surgery and used for surgery purposes, can be included in the accounts.
11.2 Loans and Interests
All paper work relating to any loans received and associated interests from Banks, Building Societies or any other lender have to be kept in files for the use of the accountant.
11.3 Hire purchases and Interests
All paperwork pertaining to any hire purchases, lease of cars along with interests paid have to be kept in files for the accountant.
Finance is a very tempting area and quiet easily misappropriations could occur. Avoid charging for cars, buildings etc. for family, even when the family members are involved as staff in the surgery. Partners expenses are allowed and mostly at cost.
All expense payments to relatives; siblings etc. have to be avoided.
NHS depends on GP’s trust and that trust has to be earned.
PMgr is also not absolved from malpractices when it comes to finance e.g. through Petty Cash expenses or costs of equipment, furniture costs etc.
The partners should not put the Accountant in a compromising position, ever to falsify the surgery accounts.