What does a Full-Service Bookkeeper do?
A full-service bookkeeper goes far beyond basic data entry. They’re responsible for the ongoing, accurate maintenance of your business’s financial records—from transaction tracking and reconciliation to monthly reporting and CPA-ready deliverables.
Whether you’re a solo entrepreneur or a growing small business, a full-service bookkeeper acts like your back-office finance team, giving you a complete view of your finances without the need to hire in-house staff.
Here’s what a full-service bookkeeping engagement includes, and how it supports your business every month.
1. Recording Financial Transactions
Your bookkeeper logs all income and expenses, whether it comes from invoices, vendor bills, payroll entries, or bank/credit card transactions. This provides an up-to-date view of cash flow and profitability.
Common sources include:
- Bank and credit card feeds
- Payment processors (Stripe, PayPal)
- Manual uploads for cash or checks
2. Categorizing and Coding
Each transaction is reviewed and assigned to the proper account within your chart of accounts.
For example:
- Facebook ad spend → Marketing
- Office rent → Occupancy
- Payroll fees → Administrative Expenses
Proper categorization ensures clean reporting and accurate tax deductions.
3. Bank and Credit Card Reconciliation
Reconciliation is the process of matching your records to actual bank and credit card statements. It’s critical for ensuring:
- No missing transactions
- No double entries
- Accurate account balances
A full-service bookkeeper reconciles all accounts monthly.
4. Managing Accounts Payable and Receivable
Some full-service bookkeepers help with:
- Logging and tracking vendor bills
- Recording payments received
- Following up on overdue customer invoices
- Preparing AR/AP aging reports
This improves cash flow and financial oversight.
5. Generating Monthly Financial Reports
Each month, your bookkeeper delivers reports such as:
- Profit & Loss (Income Statement)
- Balance Sheet
- Cash Flow Statement
- Custom reporting as needed (e.g., project or class tracking)
These reports are key for business decision-making and year-end tax prep.
6. Catch-Up and Clean-Up Work
If your books are behind or messy, a full-service bookkeeper can:
- Bring months (or years) of records current
- Fix miscategorized transactions
- Rebuild your chart of accounts
- Identify past reporting errors
7. CPA and Tax-Preparer Collaboration
Bookkeepers don’t file taxes, but they prepare the data your CPA needs. A full-service team ensures:
- Financials match tax return format
- Questions are answered promptly
- Records are organized for audits or IRS requests
FAQs
Do full-service bookkeepers handle payroll?
They typically record payroll journal entries and reconcile them—but don’t run payroll unless explicitly contracted to do so.
Can I use a full-service bookkeeper instead of an accountant?
You still need an accountant for tax filing and strategy. The bookkeeper supports monthly data maintenance and reporting.
Is full-service bookkeeping done in-house or remotely?
Most providers—like Remote Books Online—operate remotely for flexibility, security, and cost savings.
Do they work with QuickBooks or Xero?
Yes. Full-service bookkeepers often specialize in cloud-based platforms like QuickBooks Online and Xero.
What’s the difference between a freelance bookkeeper and a full-service team?
A full-service provider offers scale, backup support, faster turnaround, and built-in quality control.
Conclusion
A full-service bookkeeper isn’t just someone who “keeps the books.” They ensure your business records are complete, compliant, and clean every month—so you can make better decisions and avoid costly tax errors.
Remote Books Online provides full-service monthly bookkeeping for growing businesses. Categorized, reconciled, and CPA-ready—every single month.
Start your free month: https://www.remotebooksonline.com/
