Codes every transaction, reconciles the bank and card accounts, raises and chases invoices, schedules supplier payments, tracks what is owed both ways, and closes the period so the reports tie. Most also produce a short set of month-end figures. Sales tax filings and payroll may be included or quoted separately, so confirm which.

Bookkeeping records what happened and proves it ties to the bank. Accounting explains what it means, produces financial statements, and files the returns. Some bookkeeping companies employ accountants and offer both. Most work as a pair with your accounting firm, and that arrangement usually costs less than asking one side to do everything.

Normally a fixed monthly fee based on transaction volume, the number of accounts to reconcile, and whether payroll and sales tax are included. Catch-up work on old records is quoted separately. Ask what happens when volume grows, whether a phone call is chargeable, and how much notice either side needs to end the arrangement.

View-only access is normal and sensible. Payment authority is a different decision and should stay with you or require two approvals. Set up separate logins rather than sharing yours, review the payment run before it goes out, and remove access the day the relationship ends. Ask what insurance the company carries.

Feeds import transactions; they do not decide what those transactions are. Rules guess, and they guess wrong on owner draws, transfers, loan payments and anything paid personally. Someone still has to reconcile, match receipts, and catch the duplicate. Automation reduced the typing, not the judgment.