In this modern world of the digital age, we can foresee that streamlining our workflows (or even completely side-stepping outdated processes) will be more efficient for our businesses.

You may not be able to eliminate every piece of paper from your practice, there will inevitably always be some small amounts of paperwork, but you can reduce the amount of paper your practice uses almost immediately – and save money by doing so.

Can I go paperless?

HMRC states that you can keep records on paper, electronically or as part of a software program (e.g. bookkeeping software); records must be accurate, complete and readable. Here at Hive, we recommend using an accounting software called Xero.

If you use a good accounting software and the information inputted is accurate and very well narrated, you would ultimately not need to send any ‘papers’ to your accountants. All your purchase invoices can be attached to the related transaction by using your smartphone camera, bank feeds can be activated so there are no requirements for paper statements etc. This would ultimately reduce the time your accountant spends trying to analyse your bookkeeping and give them more time to concentrate on the figures themselves, providing you better accountancy advice and better value for your money.

Any paper records you do keep must be held for at least 5 years after the 31 January submission deadline of the relevant tax year; this can result in a large amount of paperwork over the years of a growing business.

Benefits of going paperless

• Increase practice efficiency – locating a specific document can take a lot of time that your staff could be using to a better advantage. Once the initial digitalisation of your paperwork is up to date, utilising digital storage of your paperwork will save time and greatly improve staff efficiencies.

• Storage – A large percent of your office space is likely to be full of paper documents; an overhead that could be utilised much more efficiently by say taking on more staff, or turning the space into an additional surgery room. It would also make for a more professional looking environment as your offices would be less cluttered with your paperwork.

• Cost – Printing documents can be a large cost even for small practices.

• The Environment – Go Green! Storing documents digitally reduces the need for printing most documents; this helps instill good Social Responsibility and improve your practice’s carbon footprint.

If you would like to discuss how to make your dental practice paperless or if you would like more information on Xero please call 01872 300232 or email us at hello@hivebusiness.co.uk.