Accounting Finance Support: Accurate and timely financial reporting is essential to managing practices, especially those that are undertaking new lines of service or adding new providers. IPS provides bookkeeping services with detailed, accurate and timely financial statements to provide the practice with the information needed to monitor and manage the practice effectively.
- Purchasing Assistance – IPS can review your purchasing needs and work with the vendors to obtain competitive pricing normally only available to larger businesses.
- Capital Equipment – IPS can investigate the capital equipment options and the options for financing when appropriate.
- Purchase Orders – IPS can develop and maintain a purchase order system to ensure proper authorizations for any order and tracking of past orders.
- Invoice Processing – Medical practices can be targeted for payment of false or inflated invoices. IPS can ensure the invoices are matched to a purchase order, contains the correct cost and that there are no hidden or duplicate charges on the invoice.
- Bank Statement Reconciliation – IPS can reconcile the bank statement to the accounting system to ensure the cash is properly recorded.
- Check Printing – IPS can print the checks to the client’s office for signature by the authorized party. This provides an additional level of security for the practice.
- Accounts Payable Management – IPS can manage the accounts payable based upon the direction from the client. IPS can track discounts available and ensure the practice has the opportunity to take the discounts if approved.
- Profit and Loss Statements – IPS can provide detailed profit and loss statements, in accordance with industry standards, that will allow the practice a better understanding of the costs and opportunities.
The IPS accounting and finance services are not meant to replace those services provided by your current accounting firm. IPS will work with your accountant to ensure they have the necessary information to prepare your tax returns for your practice.