Accounting Services

Accounting Services

Clear financial insight and reporting for growing service businesses, including:

Accounting FAQ

What's included in Service Squared's monthly accounting? Service Squared's accounting service covers the full monthly cycle: bookkeeping, accounts payable and receivable management, bank reconciliations, and a complete month-end close, followed by financial statement preparation and CFO-level reporting and insights. For multi-location operators, that includes location, entity, and roll-up accounting on a single unified database, so owners see both each location's numbers and the consolidated picture. The goal isn't just clean books — it's financials clear and timely enough to actually run the business by.

What accounting functions can be outsourced? Nearly the entire accounting function can be outsourced: day-to-day bookkeeping, accounts payable and receivable, bank and credit-card reconciliations, payroll-related entries, month-end close, financial statement preparation, and higher-level controller and CFO oversight. With Service Squared, a business can outsource as much of the stack as it needs — from basic bookkeeping to full, CFO-level financial management — without hiring, training, or managing an in-house team.

What is the difference between bookkeeping and accounting? Bookkeeping is the day-to-day recording of transactions — categorizing income and expenses, reconciling accounts, and keeping the ledger accurate. Accounting builds on that foundation, turning those records into financial statements, analysis, and strategic insight. Put simply, bookkeeping tells you what happened; accounting tells you what it means and what to do next. Service Squared provides both, plus CFO-level guidance.

What's the difference between a bookkeeper, a controller, and a CFO? A bookkeeper records and reconciles transactions. A controller oversees accuracy, manages the monthly close, and ensures reporting is reliable. A CFO uses that information to drive strategy — forecasting, cash-flow planning, fundraising, and big financial decisions. Service Squared provides all three tiers within one engagement, so a business gets bookkeeping accuracy, controller oversight, and CFO-level strategy without building the department itself.

Cash-basis vs. accrual-basis accounting — which do I need? Cash-basis accounting records revenue and expenses when money actually moves; accrual-basis records them when they're earned or incurred, regardless of timing. Accrual gives a truer picture of profitability and is often required as a business grows or carries inventory, while cash-basis is simpler for very small operations. Service Squared advises each client on which basis fits and keeps the books correctly on that basis.

What is a bank reconciliation, and why does it matter? A bank reconciliation matches a business's accounting records against its actual bank and credit-card statements to confirm every transaction is accounted for. It's how errors, missing entries, duplicate charges, and even fraud get caught early. Service Squared performs reconciliations as a standard part of its monthly close, so clients can trust that the numbers they're making decisions on actually match reality.

When should a business outsource its accounting? The usual signals: bookkeeping is falling behind, the owner is spending nights on the books, the business is adding locations, or it needs reporting it can't reliably produce in-house. Outsourcing also makes sense when a business wants CFO-level insight but can't justify a full-time hire. Service Squared steps in at any of these points — typically with a transition completed in about a month.

How do I transition from in-house accounting to an outsourced firm? Service Squared manages the transition end to end. Onboarding typically takes about one month, during which the firm sets up or adopts the accounting system, migrates historical data, takes over from a prior bookkeeper or accountant, and integrates with the client's team. The handoff is coordinated so the books stay current and nothing falls through the cracks.