What Tasks Are Included in Full-Service Bookkeeping?
If you’re a business owner who wants accurate books, clear reports, and less time spent on spreadsheets, full-service bookkeeping may be the solution. But what exactly does “full-service” mean?
In this guide, we break down every task included in full-service bookkeeping – so you know what to expect when hiring a provider and how it differs from basic or DIY approaches.
What Is Full-Service Bookkeeping?
Full-service bookkeeping refers to a comprehensive approach where a dedicated bookkeeping team handles all aspects of your day-to-day financial tracking, reporting, and compliance. It goes beyond categorizing expenses or reconciling accounts. It’s a system designed to keep your books clean, your reports accurate, and your business prepared for every financial decision and tax filing.
At RemoteBooksOnline, we provide monthly bookkeeping services starting at $150/month – with no contracts and complete support.
Key Tasks Included in Full-Service Bookkeeping
Here’s what you can expect from a professional full-service provider:
1. Transaction Categorization
Every financial transaction – deposits, expenses, payments – is reviewed, categorized, and logged accurately using your accounting software (QuickBooks, Xero, etc.).
2. Bank and Credit Card Reconciliation
Accounts are reconciled regularly to ensure every transaction matches your bank and credit card statements – catching duplicates, errors, or missed entries.
3. Accounts Payable (Optional)
Your bookkeeper can track bills and due dates, help schedule vendor payments, and record outgoing payments.
4. Accounts Receivable
Invoices are tracked, aging reports are maintained, and payments are logged as they come in.
5. Payroll Recording
Payroll data is entered and tracked – including salaries, taxes, withholdings, and benefits – even if payroll is managed through a third-party provider.
6. Sales Tax Tracking
Sales tax collected is tracked accurately by location, rate, and jurisdiction, ensuring proper reporting.
7. Monthly Financial Reporting
You’ll receive core financial reports on a recurring basis:
- Profit & Loss (P&L) Statement
- Balance Sheet
- Cash Flow Statement
- Accounts Aging Reports
These help you understand your profitability, liquidity, and financial trends.
8. Year-End Preparation for Taxes
At the end of the year, your bookkeeper provides a complete financial package for your CPA or tax preparer. This includes categorized expenses, reports, reconciliations, and documentation for easy tax filing.
9. Catch-Up and Cleanup Services (if needed)
If your books are behind, full-service providers offer QuickBooks Bookkeeping and catch-up bookkeeping to bring you current – fast and accurately.
Test Case: Fitness Studio Streamlines Finances with Full-Service Bookkeeping
Business: Local fitness studio with classes, memberships, and merchandise
Problem: Owner used multiple spreadsheets and was constantly behind on invoicing, bill payments, and financial reporting.
Solution: Enrolled in full-service bookkeeping with RemoteBooksOnline.
Results:
- Revenue and expenses were categorized by stream (classes, merch, events)
- Monthly reports provided real insights into profitability
- Bills and vendor payments tracked efficiently
- Owner saved over 20 hours/month and was ready for tax season without stress
Benefits of Full-Service Bookkeeping
- Accuracy: Reduces errors, missed entries, and duplicates
- Efficiency: Saves time and improves monthly workflow
- Compliance: Keeps you audit-ready and tax-compliant year-round
- Clarity: Provides the reports and visibility needed to grow your business
- Scalability: Adapts to your needs as your business grows
Frequently Asked Questions
Do I still need an accountant with full-service bookkeeping?
Yes, bookkeepers handle daily records and reports; your accountant handles tax strategy, filing, and financial planning. Both work together.
How often are reports delivered?
Typically monthly, but some providers offer weekly updates or on-demand reporting based on your needs.
Can I customize what’s included?
Yes. You can tailor the scope to your business needs – from basic reconciliation to full A/R, A/P, and payroll tracking.
What software is used?
Most full-service firms work with QuickBooks Online, QuickBooks Desktop, Xero, or FreshBooks.
What if my books are behind or disorganized?
RemoteBooksOnline specializes in bringing books up to date and includes cleanup bookkeeping as part of onboarding when needed.
Let Us Handle the Books – You Focus on the Business
Full-service bookkeeping removes the burden of daily financial tracking so you can focus on growth. At RemoteBooksOnline, we offer expert-managed services tailored to your industry – with flat pricing, secure processes, and zero guesswork.
Explore our bookkeeping packages or sign up for a free trial to experience true peace of mind.
