Accounting Services for
Veterinary Clinics & Hospitals
Manage accounting, taxes, and medical supply stock, allowing veterinarians to focus entirely on animal care, while preparing financials for branch expansion.
- Separate Revenue: Treatment vs Sales
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- Control Medicine & Supply Stock
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- Financials Ready for Equipment Loans
Plug Medicine Leaks
Increase Clinic Profits
Turn front-counter data into an Executive Dashboard that accurately analyzes departmental costs and revenues.
Challenges in Managing Animal Hospitals
Growing a veterinary clinic isn't just about treatment; it’s about managing high-value inventory and human resources.
Multiple Revenue Streams
Separating revenue from treatments (VAT-exempt) and retail product sales (Subject to VAT).
Medicine & Supply Stock
Medicines have expiration dates and high value. Poor stock control means profits instantly turn into waste.
Veterinarian Cost Structure
Calculating Doctor Fees (DF) percentages for consulting vets and wages for vet assistants.
Varied Service Types
Emergency cases, admissions, surgeries, grooming—each department has completely different margins.
Multi-Branch Management
Many clinics struggle to connect data across branches, making centralized accounting difficult.
Business Expansion
Wanting to invest in X-Ray or Ultrasound machines but lacking financial data for bank loans.
Why Do Vet Clinics Need a
Specialized Accounting System?
Veterinary businesses have highly complex tax structures because revenue doesn't come solely from medical treatments.
Separating bills between "VAT-Exempt Services" (e.g., checkups, surgeries) and "VAT-Subject Products" (e.g., pet food, shampoo, toys) must be done carefully. If an accountant doesn't understand this context, the clinic could face massive retroactive tax assessments.
5 Metrics That Dictate Animal Hospital Profits
Turn front-counter data into Dashboard reports that executives can use for immediate clinical decisions.
1. Revenue per Visit
Average revenue per case helps determine whether to launch health checkup campaigns or push Pet Shop sales to increase the bill size.
2. Drug Cost %
The proportion of medicine and supply costs. If this number swings abnormally, it implies unrecorded dispensations or behind-the-counter leakage.
3. Inventory Turnover
Expired medicine is literally burning cash. Checking turnover cycles ensures the clinic orders just enough for the monthly case volume.
4. Payroll Cost
Personnel costs (Vets, Assistants, Reception, Cleaners). Clinics should analyze this to align vet schedules with Peak Times to avoid wasted wage payouts.
5. Cash Flow
Net cash flow. Because animal hospitals require high working capital to purchase medicines and equipment, liquidity is more important than paper profit.
Chronic Issues Holding Back Growth
Financial Management Services for Animal Hospitals
Clinic Bookkeeping
Record revenue by category (VAT Exempt / VAT Subject) and prepare accurate monthly financial statements per Revenue Dept rules.
View DetailsVeterinary Tax Planning
Consult on clinic business tax structures, withholding tax, and managing document imports for foreign medical equipment.
View DetailsClinic Payroll Services
Set up payroll for full-time/part-time vets and assistants, calculate Doctor Fees (DF), and file social security.
View DetailsCloud Accounting Setup
Integrate your clinic management software with PEAK/FlowAccount. View stock and profits in real-time.
View DetailsCFO Advisory
Analyze the break-even points for expensive medical equipment purchases, evaluate ROI, and plan cash flow management.
View DetailsEquipment Loan Prep
Prepare financial projections and highly credible statement packages to apply for SME loans for hospital expansion.
View DetailsManage Medicine & Supply Stock
Efficiently
Medical drugs and supplies are the lifeblood of an animal hospital, but they are also where cash sinks the easiest.
SiamAccount’s solid accounting system helps you establish audit charts for remaining stock value, Turnover Ratio, and FEFO (First Expired, First Out) management to block losses from expired drugs and restore liquidity to your bank account.
Professional Stock Control System
- Reconcile medicine dispensations with doctor prescriptions.
- Separate costs for vaccines, injectables, and take-home medications.
- Alerts for slow-moving Dead Stock items.
Time to Expand and Upgrade to an "Animal Hospital"
The pet care industry is growing massively. If your clinic is struggling to accommodate the caseload and you want to buy land, build a new facility, open a second branch, or upgrade with high-end Blood Analyzers or X-Ray machines, you need financial statements that "banks trust."
Covering All Pet Care Business Models
Famous Animal Hospital in Chiang Mai Unlocks Tied-Up Capital
The hospital had a very high daily caseload but experienced severe cash shortages every month-end. Our CFO team analyzed operations and found that "consumable drugs and prescription diets" were being over-purchased and hoarded unnecessarily, disrupting the cash conversion cycle. After implementing a new stock deduction system and restructuring Purchasing, they reduced stagnant stock and pulled back 15% in cash flow liquidity within just 4 months.
Frequently Asked Questions (FAQ)
Q:Do veterinary clinics need to register for Value Added Tax (VAT)?
A:Income from 'medical treatment' is exempt from VAT. However, if the clinic sells products like pet food, shampoo, toys, or offers grooming services, and sales from this segment exceed 1.8 million THB per year, you must register for VAT for the product sales portion.
Q:What kind of accounting software should animal hospitals use?
A:We recommend using a Hospital Information System (HIS) alongside a Cloud Accounting system (like PEAK) to automatically pull treatment data, dispensed drugs, and receipts into the general ledger, reducing manual data entry.
Q:How should we handle inaccurate medicine stock?
A:You must restrict access to the medicine cabinet/warehouse, limit authorized dispensers, and use barcode scanners to deduct stock immediately at the pharmacy room. Also, implement weekly Cycle Counts instead of waiting for a year-end count.
Q:What statements are needed when expanding clinic branches?
A:You need historical balance sheets and P&L statements showing clear profits, a Cash Flow Projection for the existing and new branch, and a business plan indicating the break-even point for the bank to approve the loan.
Q:Can we get bank loans to purchase medical equipment (e.g., X-Ray, Anesthesia machines)?
A:Yes! Banks offer Machinery Loans or SME loans specifically for doctors, which often have lower interest rates. The key condition is that your clinic's financial statements must be clean and revenue must flow consistently through the corporate bank account.
Providing Accounting for Clinics & Animal Hospitals Across Northern Thailand
Ready to conduct on-site inventory system audits and plan veterinary business taxes for hospital chains and clinics in major regional areas.