Classic Video: The Most Important Accounts Receivables Issues in Pharmacy Accounting
Are your outstanding receivables at over 60 days or more? Ollin Sykes warns pharmacists about the dangers of relying on your third-party accounts reconciliation system to manage your receivables . In this video, get tips for monitoring remittances, dealing with unpaid claims …
The Three Most Important Accounting Inventory Issues
Does your pharmacy have — and use — a perpetual inventory system? Ollin Sykes provides an overview of what pharmacies should do weekly to properly manage inventory, including downloading your primary acquisition cost information and how to monitor acquisition costs in the …
Classic Video: Three Most Important Pharmacy Accounting Inventory Issues
What are the three most important pharmacy accounting inventory issues? Ollin Sykes describes the importance of having a perpetual inventory system tied into your script management system and how the two work together. He also discusses why every pharmacy owner should have a …
Classic Video: Keys to a Resilient Pharmacy Accounting System
What are the keys to a resilient pharmacy accounting system? In this video, Scotty Sykes explains the keys to creating an accounting system that can withstand common physical, electronic and security risks. As a bonus, a resilient accounting system can help position …
Common Pharmacy Accounting Mistakes Part 2
Independent Pharmacy CPA Scotty Sykes continues to share the most common mistakes that he sees independent pharmacy owners make with regard to their accounting systems. A lot of times, their payroll costs are too high and they’re not using technology to their …
Classic Video: Common Mistakes in Pharmacy Accounting
In this video, Pharmacy CPA Scotty Sykes talks about mistakes he frequently sees independent pharmacy owners make with their accounting systems. To begin with, too many pharmacy owners don’t have a solid accounting system. Scotty explains the importance of viewing your accounting …
Pharmacy Accounting: What You Need to Know
Proper pharmacy accounting comes down to making sure your books are current, have integrity, and operate efficiently. Scotty Sykes, CPA, CFP discusses pharmacy accounting with Drug Topics. Read this article if you want to know more about having a solid pharmacy accounting …
Classic Video: Top KPIs for Pharmacy Accounting
What are the top key performance indicators (KPIs) that determine the health of a pharmacy? Pharmacy CPA Scotty Sykes shares the top key performance indicators (KPIs) that experienced pharmacy accountants review regularly. He looks at why having accounting fundamentals in place is …
Classic Video: Bookkeeping vs. Accounting: What’s the Difference?
What’s the difference between accounting and bookkeeping? Ollin Sykes and Scotty Sykes explain how proper accounting interprets, classifies, and allows for analyzing and reporting of financial data. During this webinar you will learn: What pharmacy owners should be seeing daily, weekly and …
Classic Video: Getting The Most From Your CPA
Is your independent pharmacy CPA proactively looking at your books? Ollin Sykes discusses what you should expect from your CPA to maximize your position as an independent pharmacy owner. He covers how often to talk to your CPA and the number of …