Accounting And Bookkeeping Services Firm

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

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 in Adelaide, Lucent are ahead of the pack with our accounting and bookkeeping services. We go beyond mere data-processing, to deliver real-time, value-adding information and advice.

Our team of highly trained Xero Bookkeepers and Accountants in Adelaide 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 CEOs 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 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 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 today.

FAQs

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 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 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!