Do You Trust Your Numbers? The Financial Risks Hiding in Your Books

Katie Collin : Beyond the Balance Sheet

In this episode of Beyond the Balance Sheet, Katie Collin is joined by Gareth Salomon, founder of Xenon Connect, to uncover the hidden bookkeeping errors that can distort financial decisions for GP practices, PCNs, and federations.

What we cover

• Why reconciled bank lines are not the same as accurate books
• The five red flags that quietly distort GP accounts: unreconciled bank items, old unpaid bills, duplicate invoices, misposted bill payments, and duplicate contacts
• Opening balances and why year-on-year comparatives go wrong
• How a simple health score and monthly report helps practice managers, PCNs and federations keep on top of quality
• Governance and fraud detection benefits when margins are tight
• What MTD for ITSA means for bookkeeping accuracy and investigation risk
• Where AI helps, and where professional judgement still matters

About Xenon Connect

Xenon Connect plugs into Xero, QuickBooks Online, Sage and FreeAgent to scan bookkeeping data against double-entry norms, flag likely errors and let you fix them fast. Ramsay Brown uses it to provide monthly health-score reports to clients and to speed up month-end reviews.

Who this is for

GP practices, PCNs, federations and healthcare finance leads who want timely, reliable financials without adding headcount.

Resources mentioned

Xenon Connect

Ramsay Brown LLP bookkeeping and management accounts support

MTD for ITSA overview and readiness support

Work with us

If you’d like help improving bookkeeping quality, monthly reporting or MTD readiness, email [email protected] and we’ll set up a short call.