Adjustments

Owned by Bill Eastgate (Unlicensed)
Last updated: Jan 07, 2020
2 min read

Normalisation of a Practice

Explanation of the Adjustments that need to be made so all practices are compared equally.

Navigation: Go to main menu → Settings → Setup Wizard → Adjustments

 

 

Information page Adjustments

  1. This page gives a description of the adjustments needed so one practice can be fairly compared to another.

  2. Bookkeepers record owners wages, rent and Superannuation differently. Some include the owners wages in the same cost centre as general staff, others separate out owners wages and some practices owners don’t take a salary.

  3. Rent is treated similarly in that fair rent needs to be applied. Some practice owners own the property and pay no rent, others may pay a higher rent as part of a superannuation fund for example. To make a fair comparison a normalised rent amount needs to be applied.

  4. A link is provided on the adjustments page to take you directly to the Manual data points.
    >>edit Monthly settings

 

Click on images to enlarge

 

For further information on normalisation click on the below links