Accounting for General Practitioners - The Importance of Recording Financial Transactions

Abstract

In the first article in this series, focus was on accounting systems that can be used for decision making to promote a financially healthy prctctice. This article concentrates on the need to secure and ensure that the financial information that is presented is correct and accurate. Many doctors believe in fudging, either because they do not wish to face financial reality or because tbey believe that fudging may have some tax advantages. The problems of fudging and the effect that this has on both the doctor's financial position and the staff are dealt with. The systems the doctors presently use to record financial transactions are: no system, manual system, cigarette box, tuo receipt books and computerised systems. The advantages and disaduantages of tbese systems are briefly discussed and ultimately a proposal is made to acquire a systems which is reliable, accurate and easy to operate.