What Do Monthly Bookkeeping Services Include?

A Small-Business Guide

Running a business means juggling suppliers, invoices, payroll, and countless receipts. By month-end, your books need attention — but what should you handle yourself, and what can a bookkeeper take off your plate?

Monthly bookkeeping brings structure to your financial records, ensuring transactions are organized and reports are ready when you need them. Here’s what to expect from a monthly bookkeeping service and how to evaluate providers effectively.

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✅ What Is Monthly Bookkeeping?

Bookkeeping is the process of recording financial transactions. A monthly service applies this work to a reporting cycle, keeping records organized so you can review what happened during the month.

Typical records include:

• Sales invoices
• Purchase receipts
• Bank statements
• Bills
• Employee or contractor records

📋 What Should a Monthly Bookkeeping Agreement Cover?

A clear agreement should outline tasks, responsibilities, and delivery timelines. Key areas include:

1. Recording & Categorizing Transactions

• Which accounts are covered
• Who supplies receipts/invoices
• How personal purchases are handled

2. Bank & Credit-Card Reconciliation

Reconciliation ensures your books match bank statements. Ask:

• Which accounts will be reconciled
• How unresolved items are reported

3. Tracking Invoices & Bills

Confirm whether the service includes:

• Preparing/sending invoices
• Following up on overdue payments
• Recording supplier bills
• Preparing payments for approval

4. Preparing Financial Reports

Reports may include:

• Profit & Loss Statement
• Cash Flow Statement
• Balance Sheet
• Outstanding invoices list

5. Reviewing Outstanding Questions

Agree on how exceptions (missing documents, unclear purchases) will be handled. Decide:

• Who is the main contact
• How questions are consolidated
• What happens if issues remain unresolved

🚫 What Might Require a Separate Service?

Not all financial tasks fall under bookkeeping. Clarify whether your provider covers:

• Historical cleanup
• Payroll processing
• Tax preparation
• Collections
• Supplier payments
• Inventory tracking
• Forecasting/advisory work

📆 Example Month-End Workflow

1. Supply records – invoices, receipts, statements
2. Resolve questions – clarify unfamiliar transactions
3. Review books – reconciliation and categorization
4. Receive reports – delivered on agreed date
5. Discuss results – unpaid invoices, unusual expenses, unresolved items

🧾 Your Role as the Business Owner

Hiring a bookkeeper doesn’t remove your involvement. You’ll still need to:

• Provide documents
• Explain purchases
• Approve payments
• Communicate business changes

💲 How Much Do Monthly Bookkeeping Services Cost?

Pricing depends on:

• Transaction volume
• Number of accounts/entities
• Software used
• Reporting requirements
• Payroll or invoicing needs
• Backlog cleanup

❓ Questions to Ask Before Signing

• What’s included in the monthly fee?
• Which work is excluded?
• Who will handle my books?
• What do you need from me?
• Which reports will I receive, and when?
• How are questions handled?
• What happens if I change providers?

📌 Final Thoughts

Monthly bookkeeping helps small businesses stay organized, informed, and ready for growth. Before hiring, list what’s taking too much time, what information you need monthly, and which tasks you want to delegate.

👉 Contact

📍 Serving U.S. Businesses

Biztally to discuss your bookkeeping needs and request a clearly defined scope of work.