Bookkeeping services are offered by external accounting firms. They record, organize, and maintain a company’s financial information. Such agencies ensure every transaction (income, expenses, payments, and receipts) is properly tracked and classified.
Nowadays, clean books are no longer just for compliance! In 2025, bookkeeping has evolved from a back-office chore into a strategic function. Nowadays, most VPs and directors of D2C companies (with 5+ employees) use books of accounts to:
- Track real-time performance
- Measure marketing ROI
- Understand which products bring the most profit
- Check where costs are leaking
But is bookkeeping still done in-house? Nope! Most small and mid-sized businesses (SMBs) now outsource this function to leading accounting companies in the USA. Studies show that the U.S. alone contributes nearly $62 billion to the global accounting outsourcing market.
Do you also see bookkeeping as a burden? Read this article to learn what is a bookkeeping service, and exactly what is included in the bookkeeping services package.
What are Bookkeeping Services?
Every business earns, spends, and owes money! Don’t you think someone needs to record all these details properly? That’s what a bookkeeper does. Bookkeeping services are offered by third-party accounting firms that record your financial activities related to:
- Sales
- Expenses
- Utility payments
- Employee salaries, and more
As a VP or director of a growing D2C company, this allows you to know how your business is performing at any time. Beyond offering basic bookkeeping services, accounting outsourcing companies also make sure that your financial records are compliant and follow legal + tax requirements.
What is Included in Bookkeeping Services?
Running a business means dealing with money every single day! You earn it, spend it, pay people, and track what’s left. Now, that’s where bookkeeping comes in. It is a financial “organizing system” that records your business’s financial affairs.
Let’s see what is included in bookkeeping services and what services bookkeepers provide:
1. Recording Financial Transactions
Bookkeepers track income, expenses, sales, purchases, receipts, and payments. They also manage:
| Accounts Payable | Accounts Receivable |
| The money you owe to suppliers or vendors. | The money your customers owe you. |
At leading accounting outsourcing companies, like Atidiv, each transaction is neatly categorized (for example: rent, utilities, sales, or salaries). This makes it easier to see where your money is going and whether your business is truly earning a profit.
2. Preparing Financial Statements
Once all your transactions are recorded, your bookkeeper turns those numbers into easy-to-read reports. These are called “financial statements”, and they show how your business is performing. The three main statements usually prepared by all growing D2C companies are:
| A) Income Statement (Profit and Loss) | B) Balance Sheet | C) Cash Flow Statement |
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Please note that these reports are not just for recordkeeping! They allow you to:
- Understand your business health
- Spot problems early
- Share accurate data with investors or banks when applying for loans.
3. Payroll Processing
If you have employees, payroll can become one of your most time-consuming tasks. Now, bookkeepers handle this entire process for you by:
- Calculating employee wages, deductions, and taxes correctly
- Making sure everyone gets paid on time
- Keeping you compliant with labor laws and tax requirements
- Filing payroll tax returns so you don’t miss deadlines or face penalties
The added bonus? Accurate payroll also keeps your employees happy + your business legally sound.
4. Bank Reconciliation
Bank reconciliation is a monthly financial “check-up.” In this process, your bank statements are compared with your business’s accounting records. This comparison makes sure every transaction matches and your financial records are error-free.
Now, if you are wondering what is included in bookkeeping services, bank reconciliation is also performed by bookkeepers. They:
- Carefully review both sets of records
- Identify any mismatch
- Correct them
The business advantage? Your books become 100% accurate. This also helps prevent fraud, since unusual or unauthorized transactions get noticed.
5. Tax Compliance and Support
Are you also suffering from the U.S. tax system? Yes, it has become complex and time-consuming for individuals and businesses alike. Studies show that Americans collectively spend a huge amount of time each year dealing with tax paperwork.
In 2025, this time is estimated to reach 7.1 billion hours, which is the same as 3.4 million people working full-time for an entire year just on tax forms. That’s nearly 38 times more workers than the IRS itself employs!
The Bookkeeper Help!
A good bookkeeper provided by leading accounting companies in the USA can make your business compliant with all tax laws, whether federal, state, or local. Additionally, your bookkeeper:
- Prepares and files tax returns
- Keeps everything ready in case of an audit.
- Tracks deductible expenses throughout the year so you can save money legally
With professional bookkeeping service providers, like Atidiv, you can relax knowing that your taxes are handled correctly, deadlines are met, and you’re not paying unnecessary penalties!
6. Additional Bookkeeping Services
Apart from the basic bookkeeping services, many bookkeeping firms offer several extra services, such as:
- Cash Flow Management:
- Your bookkeeper forecasts when money will come in and go out.
- This allows you to plan ahead + avoid cash shortages.
- Monthly Financial Reporting:
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- You’ll receive clear summaries of your business’s performance each month.
- By analyzing it, you can track progress and spot areas for improvement.
- Bill Management:
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- They make sure your vendor invoices are paid on time.
- This lets you maintain good relationships and avoid late fees.
Several D2C companies and consumer brands earning $5M+ revenue subscribe to these additional services. This gives them better control over their finances and lets them stay financially healthy all year long.
Choose Atidiv as Your Bookkeeping Partner in 2025!
So, now you know what is included in bookkeeping services. It’s a complete “financial management package” that:
- Records daily transactions such as income, expenses, and payments
- Prepares financial statements like profit and loss, balance sheet, and cash flow reports
- Manages payroll and ensures compliance with labor and tax laws
- Reconciles bank accounts to maintain accuracy and prevent fraud
- Assists with tax compliance and keeps your business audit-ready
But given the complexity of financial regulations and the time it takes to stay compliant, most businesses prefer to outsource their accounting functions. Studies show that about 37% of U.S. companies had outsourced their accounting or bookkeeping tasks in 2025.
If you are searching for a partner, Atidiv is a leading U.S. accounting company with 16+ years of experience. Our expert team has a 95% client retention rate and offers:
- Comprehensive bookkeeping services
- Financial process setup and optimization
- Strategic financial advisory
We are one dedicated team for all your finance and accounting needs! Schedule a discovery call now to learn how we can assist you!
What is Included in Bookkeeping Services FAQs
1. Give me a bookkeeping services description.
Bookkeeping services are related to accurately recording all financial transactions of a business, such as sales, expenses, payments, and receipts. Additionally, bookkeepers make sure:
- Your books are up to date.
- Your business is compliant with tax and labor laws.
- Your financial statements are ready for reporting and tax filing purposes.
2. What is Full Service Bookkeeping?
Full-service bookkeeping goes beyond basic bookkeeping services. Besides, daily transaction recording, it covers every aspect of financial management, such as:
- Bank reconciliation
- Payroll management
- Tax preparation
- Financial reporting
Top accounting outsourcing companies, like Atidiv, offer full-service bookkeeping. Our expert team provides 100% end-to-end accounting support. This eliminates the need to run an internal finance department, which can let you save up to 60%!
3. Why should I outsource bookkeeping instead of doing it myself?
When you outsource bookkeeping, you get access to third-party accounting professionals from day one. They handle several complex tasks, like:
- Bank reconciliations
- Payroll management
- Tax-compliant financial reporting
At the same time, you are not required to pay salaries, subscription fees for accounting software, or train your bookkeepers regularly as per the latest laws. Studies show that companies report cost savings of 20 to 60% by outsourcing, along with productivity increases + compliance improvements.
4. What are the penalties for inaccurate books of accounts under U.S. law?
If your business books are inaccurate or you underreport amounts, the IRS can impose several penalties, such as:
- Accuracy-related penalty (IRC 6662): Usually 20% of the underpaid tax amount due to negligence, disregard, or substantial understatement.
- Gross valuation misstatement: If the error involves a major overstatement of value, the penalty may rise to 40% of the underpayment.
- Fraud penalty (IRC 6663): If false reporting is intentional, the penalty can be 75% of the underpayment.
- Late filing or late payment penalties: Failing to file or pay on time can add further penalties (for example, 0.5% per month on unpaid tax, capped at 25%) plus interest.