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Running management accounts - Step-by-step guide

Glenys Bridges offers practical advice to practice managers on how to understand the practice accounts.
Introduction

Even today, few dental practice managers have full rein on the practice’s accounts; and for that reason, they cannot develop the range of skills needed to manage the practice’s finances effectively. This article looks at financial planning, managing budgets and using financial information to understand how the business is performing to target . It will consider ways that practice managers can develop their knowledge and skills so that the money spent to run the practice realises the best possible return on investment, and to ensure that all expenditure is planned and considered in a timely way to prevent overspending or the lack of investment from undermining the effectiveness of the services provided to patients.

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