Pharmacy

Management

Take advantage of our extensive experience within the profession and let us help you manage the future success of your business.

Industry Insight and Advice

We understand Pharmacy.

This means more than ‘knowing the numbers’; it means knowing the people, the environment and, importantly, the likely course of future events.

External Management Accounting (EMA)

Need a single solution that connects, simplifies and advances your business systems - all while streamlining costs?  Let us help you take care of business with our revolutionary and all-encompassing External Management Accounting System.

To find out more, click here

Pharmacy Administration and Bookkeeping

To help you run your pharmacy, we provide bookkeeping services and assist your bookkeeper with the following:

  • Payments & Receipts processing

  • Inventory and Stock Take

  • Bank Reconciliations

  • Credit card and Loan Reconciliations

  • Accounts Payable & Receivable

  • Payroll

  • BAS Preparation

On a monthly basis your PP supported bookkeeper will produce:

  • Monthly Internal Accounts

  • Profit and Loss Statement

  • Balance Sheet

  • Aged Accounts Payable Listing

  • Aged Accounts Receivable Listing

  • Business Activity Statement

  • Instalment Activity Statement

Periodic Reporting

Meaningful financial reports are provided to help you better manage your pharmacy.  We do this by providing you with comprehensive financial reporting on a periodic basis.

This reporting includes:

  • Management Review

  • Profit and Loss Statement

  • Budget v Actual variance analysis

  • Balance Sheet

  • Funds Flow Statement (cash flow management)

  • Key Performance Indicators / Ratio Analysis

  • Benchmark comparison with shopping centre pharmacies

  • Storewide analysis of gross profit margins

  • Storewide analysis of expenses such as rent and wages

  • Floor space, stock & staff productivity

bizlinkIT

‘Proven Solutions for Better Business’

We recognise that to be competitive in today’s world, you need to look beyond bookkeeping and towards active financial management which addresses the key issues in your business.

bizlinkIT is the online accounting and management system that helps you make the right decisions because it delivers financial information including industry KPI’s in an automated, reliable, timely and efficient manner.

Discounts & Substitution Analysis

To maximise your trading terms and profit opportunities we:

  • Help you understand the effect generic discounts has on profits

  • Can measure and benchmark your dispensary profit opportunities

  • Assist with developing strategies for improved substitution and buying through use of “Spacelink”

Valuations & Financing

To help you with investing and financing we can:

  • Provide bank approved valuations for finance purposes

  • Provide an  understanding of the pharmacy industry and current market values

  • Deliver a comprehensive working analysis of the financial health of your business supported by cash flow and profit and loss forecasts

  • Reveal how your pharmacy value and projected cash flows affects you personally

  • Outline your potential walk away position and  tax consequences of sale and possible refinance opportunities

Succession Planning

We help pharmacy owners consider in a broader sense the current and future performance of the pharmacy, management issues and personal Financial Planning.

Succession Planning entails putting in place a coherent plan which enables:

  • Structured short and long term performance planning of the pharmacy

  • Continuation of the pharmacy after the owners retire

  • The introduction of a new partner

  • An incoming partner to acquire the knowledge/ expertise of the owner prior to taking a further interest

  • Capability of the owner to fund the equity acquisition

Well-structured succession ensures the business and its value does not retire with the owners.

Contact Our Experts

Partner - Pitcher Pharmacy Services
07 3222 8444
Partner - IT Consulting Services
07 3222 8444
Partner - Pitcher Pharmacy Services
07 3222 8444

Compliance help

Our focus is on delivering retail and financial management solutions that make running a business easier, more effective and also less costly.

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