Best Practice Guidelines: Accounting Management
1. Introduction to Accounting Management
1.7. GoodX as a fully integrated practice management system
GoodX is an Integrated financial medical practice management system that has the following components:
- Debtors management and control
- Creditors management and control
- Stock management and control
- Accounting (Open item system)
- VAT control
This integration eliminates the following risks of having to manage multiple systems:
- Double data capturing that is time-consuming and open to human error;
- Having insufficient audit trails;
- Higher operational expenses;
- Stock loss.
If you use GoodX, you will reap the following benefits from our financial period system:
- You can draw multiple reports based on the date of service OR transaction date;
- You can draw accurate management reports based on multiple ledger levels;
- You can provide SARS with reports and create payments from these reports;
- Debtors, Creditors and Cashbook recons on one system;
- You can provide your auditors with accurate financial figures.
We trust that your practice will make full use of all the functions available in GoodX to reap all the benefits.