Care Homes Accountant Understanding the Sector
Because we understand that most care homes fall within the private sector, we know the importance of financial management. The Care Home sector was focused upon during the recent Pandemic and rose to many challenges. One of these challenges was to manage the operation on a financial basis as well as dealing the demands faced. This extends beyond the normal providing a set of annual accounts to comply with Inland Revenue requirements and Companies House or to determine the correct Tax to pay. In the light of the Pandemic it might be about the viability of the number of residents as lock down prevented care transfer. In particular looking to break even positions compared to beds taken and projections on bed capacities. How does keeping beds available for short stays impact upon the overall business performance of a Care Home. Or when staff could be Furloughed. In addition, which grants, and funding schemes were and are available to care home operators in the private sector.
Accountants for Care Homes
This is an example of how our accountancy practice was asked to help some of our care home clients. Within our portfolio of services, we offer real time bookkeeping software which can provide specialist management reports to assist in managing your finances. We can also provide management accounts to assist with strategic planning and cash flows. We have specialist accounting staff on hand working to minimise your tax liabilities, allowing you to invest more in to expanding your business. We have a dedicated payroll department to assist with the complex wages requirements in your industry.
The Next Step
We recognise as care homes accountants that the primary aim is to provide quality care and we support that aim by providing first class accounting services. So that Care Home operators can focus on care.