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The Importance of reconciliation in home care

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Why regular financial reconciliation benefits your business

Home care providers will face challenges posed by the new reforms and funding structure, with reports of a decline in revenue and profitability. The accumulation of unspent funds can be a financial burden and must not be confused with profit! In this day and age, to excel as a viable home care business requires timely information and compliant systems that support management decisions. Undertaking regular financial reconciliations is a vital step in maintaining a positive financial position.

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Source:
Unknown Author, 2019, Australian Ageing Agenda (https://www.australianageingagenda.com.au/about/)

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