Case study: Crosby Chemist13/08/15
Crosby Chemist staunchly supports outsourced bookkeeping
Typical of all pharmacies, for Liverpool-based Crosby Chemist, dispensary and stock storage consumes the majority of available back-shop space, leaving little room to accommodate an office. For this reason and many others, Graeme Batten, Managing Director of Crosby Chemist, is a strong supporter of outsourcing services.
Crosby Chemist has been a loyal client of our outsourced bookkeeping service since 1995. Previously, Graeme performed his own bookkeeping until a routine revenue inspection prompted him to seek assistance.
Our comprehensive outsourced bookkeeping service covers everything from statutory accounting to automatic management reporting for companies of any size and within any industry. For the pharmaceutical profession, one of the most notable benefits is full management of the monthly VAT reclaim process.
“The perpetual problem of monthly VAT returns is a main bugbear of the community pharmacy”, adds Graeme. “Compared to some chemists, my business is relatively small, yet my monthly VAT reclaim is vital to my cash flow and Quill always submits it promptly and accurately.”
Speaking of the other myriad advantages of our outsourced bookkeeping service, Graeme describes the simplified end-of-year accounts and inspection procedures.
“When the end of the financial year arrives, Quill does the legwork”, continues Graeme. “My Quill bookkeeper sends the relevant paperwork to my accountant ready for audit. There’s very little involvement on my part. Not only am I saving vast quantities of time as a result, I’m also saving money because my accountant doesn’t need to charge silly fees for working through my books.”
“The next biggest bonus is when the VAT man rings. Whether it’s a routine VAT inspection or more detailed revenue inspection, our books are kept in such tidy order that we always glide through. In fact, our inspections are so successful that we’ve even been used as a training site for new inspectors. I’ve never paid a penny through VAT-related errors. This complete confidence in Quill’s services helps me sleep at night.”
In his concluding statement, Graeme says: “For a chemist of my stature, it just wouldn’t pay to employ an accounts clerk. The cost of a clerk’s salary, even a part-time person, is substantially higher than Quill’s set monthly fee. My overheads, stress levels and office footprint are much lower because I outsource to Quill. Now, I simply wouldn’t contemplate bringing it back in-house. It’s so reassuring to know that I have constant back-up with my books up-to-date and VAT processed by the friendly team over at Quill.”
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