ABSTRACT
Successful businesses generally maintain a high standard of business records. The need for quality records has been strengthened with the legal requirements following the introduction of the self assessment tax system. This chapter deals with some of the major business records required and the increasing role of computerisation. The precise format of the records, and whether they are computerised or not will depend on the nature and scale of the individual practice. Of all the records required by an efficient medical practice, the business bank account is perhaps the most important. A minority of consultants in practice do not maintain a business bank account. Computerisation is an absolute must for all forward-looking private medical practices. One of the most common problems facing medical practices is the collection of debts. Records are also needed to control and plan the business. Used dynamically they can assist in improving performance and in providing guidelines to changes in policy and actions.
