Event Details

This 3 hour webinar will give you an introduction to practice finance.  It will help you to gain an understanding of the income GP Practices receive via their contract with NHS England such as PCN Funding, core funding and enhanced services, as well as touching on income that may be received outside of the contract.

It will cover some of the basic terminology that may be used in discussions you have with the practice accountants, when discussing year end accounts, and provide you with an understanding of why it is important they have certain pieces of information.

The session will also cover some other topical areas such as cloud accounting, tax, pensions and actions to prevent fraud.

Agenda

Understanding key items in practice accounts

• What are accounts used for (4 types of profit!)
• Accounting, tax, pensionable, GP Average pay
• Income and expenditure account/ profit and loss account
• Main income streams

Contract changes - 2021/22 and looking ahead                                                 

• Overview of main changes

Basics of bookkeeping

• Cash / Accrual accounting
• Importance of bank reconciliations
• Software

Good practice in finance

• Actions to take

Other useful things to know

• PCSE
• Partnership agreements
• Payroll / PAYE codes / Pension tier rates

These sessions will be delivered ONLINE using Microsoft Teams

To download Microsoft Teams - Click here

It is essential that you have a camera & microphone to complete this course.