Animal Health Solutions

23 Q4 2021 | Animal Health Solutions INVENTORY COUNTS Many veterinary practices conduct an inventory count at the end of the calendar year. AVIMark ® , ImproMed ® , and eVetPractice ® each have a report that list on-hand inventory and its value. There are also resources to help you update prices for all products and inventory items. Prepare in advance by learning how to print your report and adjust inventory counts. COST OF GOODS Your accountant will want an up- to-the-minute cost of goods report as of December 31st. Learning how to print this report now will help alleviate stress later. Saving or printing a report for costs of goods is critical, since the information can't be easily retrieved after year end. AVImark and ImproMed users should save or print a copy at the close of business on the last day of the year to have an accurate report. If information is changed or deleted later, you'll still have a record of the original numbers or figures. For eVetPractice users, the Inventory Report will automatically run and record on-hand inventory as of January 1st. HOLIDAY AND TOP CUSTOMER SEARCHES It's that time of year to mail holiday cards! It's also the perfect time to thank active clients for their business and encourage inactive ones to reengage and schedule care. Identify these clients by searching account histories. SUGGESTED YEAR-END REPORTS Print these reports for year-end tax purposes: • ImproMed's Inventory Category Totals and AVImark's Inventory Report are LIVE reports that you should print before you see your first client in the new year. Best practice is to save the file to a folder on your desktop, as well as print a hard copy. That way, you'll have ready access any time to your year-end data. • ImproMed's Summary Report, AVImark's Period Totals and eVetPractice's reports can be printed anytime. Be sure to print them at year end for reporting income. You can also save the files to a year-end folder on your desktop for anytime access. ON-PREM YEAR-END BACK UP This resource is invaluable should you lose your year-end reports and need to revisit the data. Also, if the unthinkable happens and you have a hardware failure, you'll have the confidence of knowing you have this backup. The best practice is to run your end- of-year backup right after the last transaction/process of the year and before you conduct any business in the new year. Be sure to copy the data to an offsite media source for safekeeping. Remember, if you don't back up your data at year end, you won't be able to retrieve it later. Make it a top priority and rest easy knowing it's available for you. Questions? Watch your email for an invitation to our live Year-End Webinars. We'll demonstrate a variety of year-end processes and answer your questions. Practice support contact info: Phone: (888) 280-2221 | Email: practicesupport@covetrus.com Web: software.covetrus.com/support/veterinary-year-end-reporting/

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