Banking

Academic Clinicians' Management Services

  • Receive deposits into ACMS’ bank account on behalf of clinician business, including cash receipts
  • Make disbursements from ACMS’ bank account on behalf of business to the extent cash balance is on deposit with ACMS
    • Via direct deposit (Electronic Fund Transfer) wherever feasible, including reimbursements for business expenses and payments to third party suppliers to the business
  • Make expense reimbursements to clinicians
  • Make monthly and periodic distributions to clinicians
  • Pay salaries to employees of clinician businesses
  • Pay monthly CMPA (Canadian Medical Protective Association) membership fees

Security and Confidentiality:

Each group’s financial matters are kept separately and in complete confidence.  Security of funds is assured through the application of tight internal risk management controls, with an annual external audit performed by a Big 4 accounting firm.  BMO Bank of Montreal is ACMS’ banker.