Accounting And Bookkeeping Services for Health & Medical Businesses

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Accounting & Bookkeeping Services for Health & Medical Businesses

Examine almost any successful Health & Medical business and you’ll find that Bookkeeping is the foundation of its success.

Lucent’s Bookkeeping Services Include:

  • Complete end-to-end bookkeeping solutions
  • BAS services and IAS Preparation and Lodgement
  • Data Entry and Bank Reconciliation
  • Payroll Processing and Superannuation
  • Accounts Payable and Receivable
  • Preparation of Management Reports
  • Software Set Up and Training
With this strong and robust foundation, you’ll have:
  • Accurate, reliable and on-time financial reporting
  • The information you need to manage cashflow
  • Clarity around your staff Superannuation and ATO commitments
  • No nasty surprises at tax time
  • Your weekends back

Let’s be clear – the traditional role of a ‘bookkeeper’ is pretty much redundant. Today’s business financial functions are led by tech-smart, cloud-savvy Accountants – who know how to harness the time and cost-saving benefits of technology.

As one of the leading accounting firms specialising in the Health & Medical industry, The professional team at Lucent are ahead of the pack with our accounting and bookkeeping services for allied health businesses such as Physiotherapy, Podiatry, Chiropractic, Dentistry, Maxio facial, Pilates and Yoga Studios, Optometrists, Physical Therapy, Exercise Physiologists, Dieticians, Orthodontics, Audiologists, Speech Therapy, and Pediatrics.

We go beyond mere data-processing, to deliver real-time, value-adding information and advice for Health & Medical businesses with expert bookkeeping and accounting services.

Our team of highly trained Xero Bookkeepers and Accountants with health and medical industry experience specialise in providing our clients with an outsourced finance department they can rely on.

At the end of the day – we give business owners and practice manager’s a competitive advantage. We enable them to make strategic decisions quickly. And we empower them with the financial facts that can often pay dividends. Let Lucent Advisory help with accounting, bookkeeping and BAS services for your health and medical business. Contact us today.

BAS Services — Business Activity Statement Services

Lucent Advisory provides comprehensive and trusted accounting and bookkeeping services, including the preparation and lodgement of quarterly Business Activity Statements. Our BAS services experts will ensure that your BAS statements are lodged accurately and on time to avoid any penalties.

Our end-to-end accounting services together with our health and medical industry experience and personalised approach will ensure that your BAS accurately reflects your business activity and meets all of your business’ relevant tax obligations.

By leaving the responsibility of your Business Activity Statements in our capable and trusted hands, you can get back to doing what you do best — running your business.

Speak to us about our BAS services and end-to-end accounting services and solutions for allied health businesses today.


What do bookkeeping services include?

Bookkeeping services involve the practice of recording and keeping track of business financial transactions. Bookkeepers then summarise these activities into financial reports which showcase the financial position of the business.

Besides maintaining financial records, bookkeeping services also include:

  • Reconciling transactions and bank statements
  • Accounts Payable and Receivable
  • Invoicing
  • Monitoring and reporting KPIs
  • Budgeting and cash flow analysis

What are the basic bookkeeping procedures?

Before you begin bookkeeping, your business must decide what method you are going to follow. When choosing, consider the volume of daily transactions your business has and the amount of revenue.

Single-entry bookkeeping is a straightforward method where one entry is made for each transaction – incoming revenue and outgoing expenses.

Double-entry bookkeeping follows the principle that every transaction affects at least two accounts, and they are recorded as debits and credits. In the double-entry system, the total credits must always equal the total debits. When this happens, your books are “balanced.”

The next step is choosing between a cash or accrual basis for your bookkeeping. This decision will depend on when your business recognises its revenue and expenses.

Both a cash and accrual basis can work with single- or double-entry bookkeeping. However, the single-entry method is typically for cash-based bookkeeping. Transactions are recorded as single entries which are either cash coming in or going out. The accrual basis works better with the double-entry bookkeeping system.

How much should I pay a bookkeeper?

Many bookkeepers charge an hourly rate however this pricing model can be dangerous if you don’t know how many hours they will take to complete the task. At Lucent we will provide you with a fixed price upfront so there are no nasty surprises.

How much will outsourced bookkeeping services cost me?

With packages starting from as little as $195 per month for up to 100 transactions outsourced services for health and medical bookkeeping don’t cost as much as you think!

Get in touch today for a quote that’s appropriate for the size and complexity of your allied health business. Everyone has different needs. A conversation is no obligation, so what have you got to lose to find out?

Contact us. We’d be happy to help you work out your service cost, and most importantly how much time and stress we can save you!

  • Introducing your Lucent Advisory Lead For Bookkeeping
  • Jack is our expert on service-based businesses.   He helps clients implement job management systems and processes and delivers accurate reporting for clients who deal with the challenge of managing labour time and work in progress fluctuations.  He also helps businesses manage their cash flow providing real-time advice and support when cash-flow is tight.

He has a strong background in accounts payable/accounts receivable systems, job management systems, payroll / HR systems, and more. Jack is always available and ready to help out his clients, giving them the confidence that they can always rely on him to act in their best interests.

He’s been working in the finance industry for over 6 years now and he loves it! He started off as an assistant accountant at Lucent Advisory, learning from Fraser Barry, one of the most client-focused people around.  Jack loves the challenge his current role brings across a variety of industries and their different processes and reporting requirements. He is a person who has learned how to adapt to the ever-changing and fast-paced realm of business.

Need accurate and reliable data at your fingertips to report with confidence to your practice owner?

Need to realise greater efficiencies, now!?

Learn how to gain an unfair advantage and whip your practice operations into shape, fast.

We can show you how to trust your financial data and report with confidence without having to hire an expensive full-service internal Finance and HR team.

Download our free report

The 3 Secrets Every Practice Manager Needs To Know To Report With Clarity And Avoid Nasty, Nasty Surprises (That Could Derail You).

Or short on time to read it? You can watch the webinar replay instead.

On this replay, Managing Director, Rachael Turner will show you how to trust your financial data and report with confidence without having to hire an expensive full-service internal Finance and HR team. This webinar recording is customised for Practice Managers of Health and Medical businesses.

Access the webinar replay now

Free Strategy Session (Valued at $495)
In just 30 minutes you’ll be crystal clear on:

  • The 3 KPIs you should be measuring in your business and how the most profitable businesses in your industry are tracking
  • How you can drive your business’s financial performance in less than an hour a month
  • Three things you can start implementing today to drive higher levels of profit and growth in your business

To qualify for this session you must be an established business with a turnover of at least $1M per annum.

  • Select the most important one for your strategy session to be booked with the appropriate Lucent Advisory lead. (Other services will still be discussed as appropriate).

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Nine Bookkeeping Tips To Help Your Business Grow

Free Report:
9 Bookkeeping Tips To Help You Grow Your Business

Through many years of working with successful businesses in Australia, we discovered several bookkeeping strategies they all have in common.

If you want to grow your business, download our free guide to learn what the best businesses in Australia already know and take advantage of.

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