PDSfinancials is a start to finish bookkeeping and accounting service. We sync all bank, credit card, and loan account activity,then reconcile them. Our team performs monthly journal entries to categorize revenue, COGS, accounts receivable and inventory. You will receive monthly financial statements including income statement, balance sheet and statement of cash flows.

• Book keeping performed by experts experienced in independent pharmacy
• Personalized executive level insights are provided to help discover variances and offer suggestions for improvement.
• 24/7 access to your financials via computer or mobile phone
• Online dashboard has tools for benchmarking and comparisons
• Unlimited calls, emails, and questions at no additional charge
• Bill pay and monthly sales tax filing included
• Accurate and timely monthly financials

We do not handle things like payroll, year-end taxes and certain reconciliations (AR, Inventory). You would also still need to do your normal internal control functions (i.e., verifying invoices, expenses and maintaining receipts) and prepare certain month-end reports that we need to process financial statements (i.e., Dispensing summary, POS report, AR report, Inventory)

You generally won’t need an accountant other than for year-end tax filing. However, you will still need someone to run month-end reports that we need to prepare your statements, upload bills into the Bill.com system, respond to our inquiries and do normal internal control functions.

We will need your assistance with the initial set-up by providing things like bank, credit card and Quick Book access. If we are handling your bill
pay through Bill.com—you will need to scan or upload bills to be paid to your designated bill.com email or fax number and then approve bills we
process for payment. At the end of the month, we will need you to send us the following reports so we can complete your month-end reconciliation

• Dispensing Summary – shows the monthly Rx billing and cost of all Rx’s.
• POS Report – shows the monthly sales for non-Rx sales.
• Accounts Receivable (A/R) – shows the month-end balance of 3rd party A/R (also an in-house A/R report if applicable)

We recommend you allocate someone at least a couple hours a week to assist with the above and also help us with questions about things we see coming through the bank or credit card that we need clarification on. They would also handle the typical internal control functions (i.e., verifying accuracy of invoices, receipt of inventory).

Utilizing a third-party professional accounting service experienced in the pharmacy niche will generally ensure the highest quality & most accurate financials. In addition, we provide insight summaries that draw upon our vast experience in profitable pharmacy operations to help you maximize profitability. By utilizing an independent third party, it also lessens the risk of internal theft and shrinkage.

Lastly, outsourcing this function frees up valuable staff & owner time to concentrate on other areas of the business, provide better work/life balance and reduces the hassles of doing books internally. The increased cost is usually recouped quickly through better financial management.

Very few accounting services utilize specialists that have niche expertise in pharmacy—at PDS that is our specialty. Couple this with our insight summaries and our accounting team works directly with your PDS membership team and you are much more likely to get recommendations that will improve profitability and produce results. We also offer at no additional cost our PDS web-based portal & dashboard which gives additional functionality and offers powerful benchmarking and analysis capabilities.

Unlike many accounting companies we do not charge extra fees for consulting time that can get very expensive — you have unlimited access to speak with our team.

The PDS dashboard is a cloud-based web portal that gives you 24/7 access to your financials. It can provide breakdown information by location and it also includes powerful tools to help you benchmark performance against yourself and your PDSfinancials peers. It offers helpful indicators to highlight positive and negative trends as well as has capabilities to dig deeper into data to help investigate/analyze. The dashboard tracks 13-months of data history and incorporates graphs to easily spot trends. Lastly, via the help utility, you can easily
communicate with our bookkeeping team.

The dashboard was created to help make it easy and intuitive to understand your financials so you can also be involved with spotting negative variances and identifying opportunities to improve profitability. It is also available in a convenient mobile app so you can access financials when out of the pharmacy.

Onboarding generally takes 6 weeks. We assign you an onboarding specialist as well as an accounting team member who will serve as your primary point of contact. We will request you complete an onboarding form that will provide our accounting team with access we need to do the work required such as bank, credit card and loan info, and access credentials.

There is some work required on your part initially, but we will walk you through it. Your first set of financials will arrive 2-3 weeks after the close of the first month of service (i.e., start June 1 – the first set of financials will arrive mid-July).

We do not, but our team will provide your accountant/ tax preparer with all the necessary statements and documents they will need to complete this.

Yes, we can at no additional charge.

We do not provide this service at this time, but we can provide info on companies who do.

Our accounting team specializes in pharmacy and they will help identify concern areas and areas for improvement. You will receive regular and accurate monthly financial statements which will allow you to manage your business better. Our PDS dashboard also gives you 24 hour day access to your financials. It has been designed to make benchmark comparisons versus yourself and peers so you can also assist with identifying areas of concern. Working as a team—you, our accounting experts and your PDS member success team, we can focus the necessary attention and expertise to get financial issues resolved and improved quickly.

No, you would handle this internally or though another third party company.

We can handle this for you if desired through Bill.com. You would send your invoice into Bill.com, we would enter them and wait for your approval then pay them. The only extra charge is for the Bill.com service which is approximately $69 a month. There is no additional fee to PDSfinancials.

Yes, all you would have to do is send the invoices to Bill.com, we would enter them and wait for your approval then pay them.

We prefer no paper checks are written and everything goes through Bill.com. If paper checks are written, they should not be checks paying bills already in Bill.com

Bank and credit card data are synced daily, but some things pop out (i.e., like a check written in the pharmacy)–in which case it would have to be manually entered at the end of the month.

Yes—just let us know what retro-active months you need to be reconciled. Your monthly service will start based on that month.

Yes and no. Some items are real time, like bank balances, but others such as your financial statements are prepared after we incorporate the month-end reports from you.

Not a problem, our dashboard can account for each store separately. You would pay the monthly fee for each location you want financial statements prepared.

Yes, we have many members that have a management or property holding company.

$975 per location per month. There is also a 1-time onboarding fee of $2,000 and $1,500 per each additional location. We do not charge extra for consultation time and the PDS Edge dashboard is also included. You will be responsible to cover any Bill.com service fees, but we will pay the cost for QB online. We feel confident PDSfinancials is the best value on the market today for the expertise and benefits provided.

PDSfinancials operates under a team philosophy. You can request help from anyone, but we do assign a primary point of contact for familiarity. Our PDS Edge dashboard also has a convenient help feature built in that will auto-generate an email to our bookkeeping team.

You have unlimited access to our accounting team to answer questions or review your financials. We encourage you to be actively engaged with us so you can maximize your ROI.

We try to accommodate most situations and special needs. Inquire with one of our team members.

No! The agreement is month to month, but we do require a 60-day written cancellation notice.