Grow Your Bookkeeping Business

What Products and Services Do You Offer?

December 28th, 2010 BY Claire Moore

Part of marketing is knowing what you are willing and able to provide your clients. Spend some time now thinking about what you can do, what you want to do, and what is marketable, that is, what are businesses willing to pay for. Knowing what services you are willing to offer will help in your choices of how and where to spend your marketing resources.

Review the following list of bookkeeping services and check off those that you can provide. If you aren’t sure what the service entails, you should do some research.

Bookkeeping services What will you provide?

  • Accounts payable
  • Input vendor invoices
  • Classify invoices to proper GL accounts
  • Maintain vendor list
  • Send information requests to vendor for file
  • Prepare 1099 forms end of year
  • Deliver completed 1099 forms to client for mailing to IRS and recipients
  • File 1099s with IRS and send to recipients
  • Accounts Payable Aging report
  • Prepare checks and deliver for signature and mailing
  • Execute Stop Payments upon request
  • Reconcile vendor statements to vendor accounts in ledger
  • Accounts receivable
  • Record credit sales transactions
  • Maintain receivables ledger
  • Accounts Receivable aging
  • Issue credit memos per client approval
  • Mail credit memos to customer
  • Deliver credit memos to client to mail to customer
  • Issue refund checks per client approval
  • Mail refund checks to customer
  • Deliver refund checks to client to mail to customer
  • Mail reminder statements to client’s customers monthly
  • Deliver reminder statements to client to mail to customers monthly
  • Process adjustments per client approval/notification
  • Apply payments to customer accounts
  • Call customers for collection on overdue accounts
  • Prepare and make bank deposits
  • Payroll
  • Collect employee hours from client and prepare paychecks for delivery to client
  • Collect employee data from client and maintain
  • Prepare employee earnings statements for current and year-to-date
  • Notify client of tax liabilities monthly
  • Prepare checks for payment of tax liabilities when due and deliver to client for signature and mailing
  • Complete year end W2s
  • Prepare form 940 Annual report
  • Respond to requests for verification of employment
  • Process and submit garnishment payments
  • Respond to payroll inquiries from employees
  • Report and file new hire data with state
  • Prepare all federal and state payroll tax returns with check, and return to client for signature and mailing
  • Prepare and process payroll accrual entries as needed
  • Monthly activities
  • Reconcile bank statements and credit card statements to ledger accounts and make
  • adjustments to ledger
  • Provide client copy of reconciliations & adjustments
  • Reconciliation of petty cash; journal entry; preparation of check to replenish; delivery of check for signature and deposit by client
  • Preparation of Income Statement with year-to-date percentages
  • Preparation of income statement with budget figures comparison
  • Preparation of Balance Sheet
  • Preparation of Statement of Cash Flows
  • Maintain General Ledger
  • Maintain Payroll Journal
  • Maintain Cash Receipts Journal
  • Maintain Cash Disbursements Journal
  • Maintain Sales Journal
  • Maintain General Journal
  • Prepare quarterly Federal tax deposit and check and deliver for signature and mailing
  • Prepare sales tax return
  • Software training (QuickBooks, MYOB, etc.)

This list is a good starting point for you in considering what services to offer and market. Once you create your own list it can be inserted into your proposal and your final contract. It’s a good idea to itemize all of the services that you will provide to your client so that they can see all of the tasks that you are taking off of their hands. This creates the perception of value and that’s just what you want when discussing your fee.

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