Hi
So this might be a daft question but toughy I would ask any how.
What does practice management mean and I have heard people use excel would anyone be so kind to share a template with me?
Stuart@stuartons.co.uk
Thank you
Stuart
basically what it says on the tin. Its an all encompassing term refering to the managing of your practice.
That cover everything from Customer Relationship Management (CRM) through to cost management, software selection, ethics, etc.
the mneumonic that I used for it when doing exams was : Leemah
Leadership
Ethics
Engagement Performance
Monitoring
Acceptance and Continuation procedures
Human Resources.
All in all though its a very wide and loosely defined term thats pretty much all encompassing.
HTH,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
My understanding of Practice Management includes the following
1. Timesheets
2. Billing Reports
3. Work in Progress
4. Monthly Reminders
5. Books and Records
You can get software to this but will cost or you could do what I do and just maintain on excel and update.
For instance I do my timesheet on excel. 10 units per hour. Column for date, client code, client work, code for work done eg 1 admin, 2 accounts, 3 bookkeeping etc then the units. I then at the end of the month cut and paste the months timesheet onto one sheet then sort by client and then cut and paste the time spent for each client onto a separate spreadsheet. Have one for each client. When raise a fee total up the time to keep a track of the time spend in doing the work for the job.
Work in progress is a big spreadsheet with every job in progress with columns for date due (if deadline present), date books handed in, date drafts sent to client etc. Just to keep a track of what jobs are live. When job complete cut and paste to a jobs complete spreadsheet. Currently have about 50 jobs/tasks in progress or to start.
Have a monthly reminder spreadsheet that has separate tab for each month and then each month have headings for year ends that month, VAT returns that month, accounts due that month etc. Just so know who to chase for that month.
Books and Records spreadsheet. Spreadsheet of all the records that are in. Client number, client name, what the books look like, what year end they are, where there are stored.
If you keep on excel you need to update as things change. Though you would need to do this on a PM software system as well. But as you start to take staff on things get easier to maintain using a PM software system, ideally if it is linked to you accounts and tax returns eg IRIS or Digita.
