Accounting for aged care facilities using QuickBooks

Accounting for aged Accounting for aged care facilities using care facilities using

QuickBooksQuickBooks

Presented by Sue Spindler,Presented by Sue Spindler,

Eicor Resources Ltd, ChristchurchEicor Resources Ltd, Christchurch

Eicor Resources Ltd, P O Box 4533, Christchurch - www.eicor.co.nzEicor Resources Ltd, P O Box 4533, Christchurch - www.eicor.co.nz


Requirements unique to aged care Requirements unique to aged care facilitiesfacilities

Fees are funded from up to 3 different sources - WINZ, MOH Fees are funded from up to 3 different sources - WINZ, MOH and resident – and invoices may need to be sent to the and resident – and invoices may need to be sent to the resident for just a portion of the feesresident for just a portion of the fees

Specific data collection is required for Ministry of Health Specific data collection is required for Ministry of Health reporting purposes, e.g. NHI numbers, date of birth, care reporting purposes, e.g. NHI numbers, date of birth, care level, whether private or subsidised level, whether private or subsidised

Data collection also required for administration and Data collection also required for administration and management reporting purposes, e.g. bednight occupancy, management reporting purposes, e.g. bednight occupancy, whether private or subsidised, next of kin details, care level, whether private or subsidised, next of kin details, care level, community services card details for pharmacy charges community services card details for pharmacy charges checkingchecking

Different GST rates for Rest Home fees (10.25%) and for Different GST rates for Rest Home fees (10.25%) and for Hospital fees (10.5%)Hospital fees (10.5%)

Many facilities also have villas which are either rented or Many facilities also have villas which are either rented or ‘sold’ via Licences to Occupy, and this activity is exempt GST‘sold’ via Licences to Occupy, and this activity is exempt GST


Useful QuickBooks features:Useful QuickBooks features:

Memorised transactions Memorised transactions User-defined fields in customer recordsUser-defined fields in customer records User-defined GST codes & ratesUser-defined GST codes & rates Customised & memorised reportsCustomised & memorised reports Exporting reports to ExcelExporting reports to Excel Customer notesCustomer notes Ability to edit transactions, especially Ability to edit transactions, especially

customer invoices (in current month only!)customer invoices (in current month only!) Classes (especially if there are villas – they Classes (especially if there are villas – they

are best in a separate class)are best in a separate class)


How do the fees get invoiced?How do the fees get invoiced?

Each person is invoiced for the number of Each person is invoiced for the number of days each month that they are resident, at days each month that they are resident, at the daily fee charge applicable for their care the daily fee charge applicable for their care levellevel

Their daily subsidy amount (if any) is Their daily subsidy amount (if any) is deducted from their invoice, and re-invoiced deducted from their invoice, and re-invoiced to the Ministry of Health on a bulk monthly or to the Ministry of Health on a bulk monthly or fortnightly invoicefortnightly invoice

If the balance is paid partially by WINZ and If the balance is paid partially by WINZ and partially by the resident, a further deduction partially by the resident, a further deduction is made for the personal contribution, which is made for the personal contribution, which is then re-invoiced on a separate invoiceis then re-invoiced on a separate invoice


Sample of fully subsidised invoice:Sample of fully subsidised invoice:


Sample of partially subsidised Sample of partially subsidised invoice:invoice:


Sample of personal contrib. invoiceSample of personal contrib. invoice


Sample of private payer invoice:Sample of private payer invoice:


Sample of MOH invoice:Sample of MOH invoice:


Subsidy reconciliation reportSubsidy reconciliation report


Data in customer recordData in customer record


Report of data for MOH return:Report of data for MOH return:


Resident’s transaction report:Resident’s transaction report:

For a subsidised resident, the balance outstanding at the end of each month represents the NZ Super portion which will be included in the next NZ Super fortnightly payment. In this case, the balance also includes the unpaid personal contribution.


Data for fees/bednight Data for fees/bednight reconciliation:reconciliation:


QuickBooks is great!!QuickBooks is great!!

Thank you for your time. I hope you Thank you for your time. I hope you have found this interesting and have found this interesting and helpful. Please don’t hesitate to helpful. Please don’t hesitate to contact me if you have any questions.contact me if you have any questions.

Sue SpindlerSue Spindler [email protected]@eicor.co.nz Phone 03 366-6347Phone 03 366-6347 Cellphone 027 210-4330Cellphone 027 210-4330

Documents

Accounting for aged care facilities using QuickBooks