This is a software program developed by us and is unavailable anywhere else in Australia. It is a database program that helps practices calculate pays to providers who are paid on a percentage of their gross receipts. It automatically prepares Tax Invoices, BAS and Income Tax Extract Summaries as well as calculating guaranteed minimums and other incentive payment arrangements.
So what do people think?
‘I love it’
-Val Hosking, Practice Manager Millbank Medical Practice (QLD)
‘I said to my boss I would resign if we did not get it’
-Tammy Martin, Practice Manager Clifton Beach Medical Centre (QLD)
Doctors’ Pay Calculator™. Are you paying a percentage to your doctors or providers? This software program prepares Tax Invoices , BAS and Income Tax Summaries instantly, where the practice charges a percentage of gross fees as a management fee!
Doctors’ Pay Calculator (software) – 2007 Service Entity Tax Office Ruling compliant
Are you paying your providers correctly? The Doctors’ Pay CalculatorTM is a unique pay database we developed shortly after the introduction of the GST in 2000. The new Tax Office Ruling in relation to Service
Trusts/ Entities in April 2007 makes light work of compliance obligations if you are running a service trust or company. The program is a database that keeps track of your service fees and payments and also helps your providers meet their BAS and tax compliance obligations.
No accountant can guarantee your books are correct unless they use this software program. It has been exclusively developed for, and is available to, Health and Life clients only. It is a database program that automatically calculates a tax invoice, BAS, income tax extract summary and a tax invoice summary reconciled to the last cent for every provider.
It ensures your practice BAS is a mirror image of each doctor’s BAS. This avoids pay disputes and gives a clear tax audit trail to prevent further audit enquiries.
Problems using a spreadsheet to calculate your Providers pay?
Many practices experience problems tracking payments to providers who are paid on a percentage of their gross receipts, with or without guaranteed minimums, or who are charged a sessional rate. Some have developed complicated spreadsheets, however many of these do not comply with Tax Office documentation requirements and very few can actually be reconciled to the practice’s bank account balance.
The implications of this are:
- Under/over reporting of provider income and GST remitted;
- No audit trail proving payments made are calculated and paid correctly.
- Increased opportunity for fraud and errors as most accountants do not review these arrangements as the transactions are normally conducted off the books called trust, clearing accounts or practice fee accounts where no formal book keeping requirements are required. This is usually not the accountants responsibility;
- Practices do not report on a timely basis GST collected on behalf of and paid by providers. This leads to practice and provider BAS errors, and higher accounting fees at year end due to disputes.
- If you would like a free systems check to see if you have a problem, you can contact us for further information or watch a video demonstration on the following site: