Monthly bookkeeping you can use to run the business.
Monthly bookkeeping services turn bank, card, loan, payroll, and business activity into reconciled records and financial reports. Taxstra agrees on the accounts, review responsibilities, reporting package, and delivery timetable before the work starts, so you know what is included and what still needs your attention.
CPA-led · Nationwide remote service · Approximately 1,500 clients
What is included in monthly bookkeeping?
The recurring service begins with a defined set of accounts and entities. We categorize transactions, reconcile agreed balances, investigate exceptions, and prepare the reports in your engagement. The close is a repeatable process with an owner, not simply a bank feed marked as reviewed.
QuickBooks Online is our primary accounting platform. The setup should reflect how you operate: revenue streams, locations, properties, projects, loans, and owner activity. We agree on the level of detail that makes your reports useful without making the ledger harder to maintain.
| Workstream | Monthly output | Scope boundary |
|---|---|---|
| Bank and card accounts | Statement reconciliations and outstanding-item list | Identify every included account |
| Transactions | Consistent categories with supporting records | Ask about unclear items rather than guessing |
| Loans and owner activity | Supported balances and schedules | Separate principal, interest, contributions, and distributions |
| Financial statements | Profit and loss and balance sheet | Cash-flow and custom reporting are specified |
| Review | Documented exceptions and CPA-led oversight | Review frequency and responsibility are agreed |
| Year-end handoff | Books and schedules for the return preparer | Tax return preparation is separately scoped |
A close calendar with clear responsibilities
An agreed delivery date is more useful than an unconditional promise to close every business in five days. The timetable depends on when statements arrive, the condition of the books, and how quickly open questions are answered.
We identify the information cutoff, reconciliation and review stages, and report delivery date. If a material item is unresolved, the reporting package should say so. A statement should not appear final merely because the calendar reached a deadline.
- You provide statements, receipts, financing documents, and explanations for unfamiliar transactions through the agreed secure workflow.
- Taxstra performs the reconciliations and reporting work in scope and tracks items needing resolution.
- We agree who reviews the work, how frequently CPA oversight occurs, and how adjustments are approved.
- After delivery, changes are documented. Significant corrections are evaluated in the appropriate period rather than automatically moved into the next month.
What you receive at the end of the month
The useful question is not how many reports the software can export. It is whether you can understand the period and trace the important balances. Your package should distinguish completed work from open questions.
| Report or schedule | What to look for |
|---|---|
| Profit and loss | Month and year-to-date performance with meaningful categories |
| Balance sheet | Cash, receivables, loans, liabilities, and equity supported by records |
| Reconciliation summary | Accounts tied to statements and outstanding differences explained |
| Open-items log | Missing documents, unresolved questions, owner, and next action |
| Management notes | Unusual movements and matters for a separate tax or CFO discussion |
This is an example of deliverables, not an audit or assurance opinion. Custom cash forecasts, inventory systems, consolidation, and lender reporting require a defined additional scope.
Example: why a deposit is not always revenue
Suppose a bank statement shows a $25,000 deposit. The supporting loan agreement shows that it is borrowed money. Recording the deposit as sales overstates revenue and leaves the loan missing from the balance sheet.
The bookkeeping work is to match the deposit to its support, record the liability, and reconcile the loan schedule. Later payments need to distinguish principal from interest. The owner can then read operating results without financing proceeds appearing as customer sales.
That is the value of a documented close: the reports describe what happened. This hypothetical example makes no claim about a client's tax savings.
Behind on the books? Separate cleanup from maintenance
Historical cleanup and a recurring monthly close solve different problems. Before starting ongoing service, we identify whether opening balances, prior reconciliations, or missing periods need a separate project.
A clean handoff includes access, account lists, prior reports, unreconciled items, and who owns corrections. We agree on the starting period and what the new team is accepting. Moving to another bookkeeper should not silently carry forward unresolved balances.
What changes the monthly bookkeeping fee?
Transaction volume matters, but so do the number of accounts and entities, payroll, inventory, payment processors, property managers, intercompany activity, and reporting requirements. Two businesses with the same revenue can need very different monthly work.
We scope the service before quoting. Confirm the review cadence, reports, response expectations, and whether payroll, sales-tax work, information returns, income-tax returns, or historical corrections are included. We do not treat every add-on as part of a standard monthly package.
- Single-entity service business: fewer schedules, with emphasis on clean bank and card records.
- Business with payroll and multiple processors: more reconciliations and timing differences.
- Multi-entity or property portfolio: entity and property reporting, loan schedules, and intercompany support.
Choose the service that matches the gap
Monthly bookkeeping fits an owner who wants consistent records and reports and can supply the information needed to close. If you want to compare outsourcing with an internal hire, use our outsourcing guide. If you need financial forecasts or hiring decisions, define CFO support separately.
Questions before working together
How quickly will my monthly books be ready?
We agree on a reporting date after reviewing account complexity, statement availability, and open questions. Missing documents or unresolved balances can affect delivery. We explain the dependencies instead of promising the same turnaround for every business.
Is a CPA reviewing the books every month?
CPA-led oversight is part of how we scope the service, but the specific reviewer, frequency, and review responsibilities are stated in your agreement. Ask whether your package includes monthly review, quarterly review, or another arrangement.
Do you need my bank password?
Do not send passwords. We establish appropriate access through approved accounting and document workflows. Bank feeds, statement access, and permission to make ledger entries are separate access needs.
Does monthly bookkeeping include payroll and tax filing?
Not automatically. Payroll processing, information returns, income-tax returns, sales-tax filings, and tax planning must be assigned in the engagement. We coordinate the work that is included.
Can I keep access to QuickBooks Online?
Yes. The working relationship should define your access, who may post entries, and how changes are approved. Reports should be traceable to the books rather than available only through a monthly PDF.
Can you take over from another bookkeeper?
We can review the transition, including access, account inventory, prior reconciliations, unresolved items, and the starting period. Historical cleanup may need a separate scope before ongoing service begins.
Sources and further reading
Educational information, not individualized tax, legal, or investment advice. Examples are hypothetical. Your records, tax year, state rules, and engagement scope determine the work required.
Discuss your next decision with Taxstra
Book a free 30-minute initial consultation. We will discuss your situation, whether we are a fit, and the scope and fees for the next step. The initial call is not a completed tax plan or a review opinion.
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