What’s included in a standard bookkeeping package?

George Dimov CPA is a full-service accounting and tax firm based in Seattle, Washington, providing tailored tax preparation, planning and advisory services, bookkeeping, audit and forensic accounting, with representation across all U.S. states and globally.

George Dimov CPA

A standard bookkeeping package delivers the essential Service Types needed to keep financial records accurate, compliant and ready for analysis. Core deliverables include systematic transaction capture, bank and credit-card reconciliations, accounts receivable/payable management, payroll coordination, and periodic generation of Financial Documents—general ledgers, balance sheets, income statements and cash-flow reports. Together, these components form the backbone of reliable accounting workflows, ensuring that data flows smoothly from daily entries through tax preparation and strategic advisory.

Transaction Capture and Data Entry

At the heart of any bookkeeping package is the accurate recording of all financial transactions. This involves importing bank and credit-card feeds via Software Tools like QuickBooks Online or Xero, manually entering cash and non-automated transactions, and categorizing each entry according to your chart of accounts. The Service Type → Financial Document relationship ensures that every sale, expense, or adjustment maps correctly to its ledger account, providing the detail needed for subsequent reconciliations and financial reporting.

Bank and Credit-Card Reconciliations

Monthly reconciliation compares ledger entries to bank and credit-card statements to verify accuracy and detect discrepancies. Reconciliation routines match transactions by date and amount, flag unmatched items, and record adjustment entries—bank fees, interest income, or timing differences—so that the company’s balance sheet reflects true cash positions. This step underpins trustworthy Financial Documents and mitigates the risk of undetected errors or fraudulent activity.

Accounts Receivable and Accounts Payable

Managing receivables involves generating and issuing invoices, tracking aging schedules, and following up on overdue payments to optimize cash flow. Payables services include entering vendor bills, scheduling payment runs, and taking advantage of early-payment discounts. By maintaining up-to-date aging reports, businesses can prioritize collections and control disbursements, ensuring working capital remains healthy and reducing late fees or supplier disputes.

Payroll Coordination and Reporting

For packages including payroll, the service covers calculating gross wages, tax withholdings and benefits deductions, generating paychecks or direct deposits, and preparing payroll tax filings (Forms 941, W-2, 1099-MISC). Integrating payroll into the bookkeeping system creates a unified ledger that accurately reflects labor costs and tax liabilities. Compliance with Regulations—federal and Washington state withholding rules—avoids penalties and ensures timely payment to tax authorities.

Periodic Financial Statement Preparation

Standard packages provide monthly or quarterly Financial Documents: balance sheets summarizing assets, liabilities and equity; income statements detailing revenues and expenses; and cash-flow statements tracking operating, investing and financing activity. These reports illuminate profitability trends, liquidity positions and budget variances. By leveraging the Software Tool ↔ Service Type ↔ Financial Document linkage, businesses gain actionable insights for management decisions, lending applications and investor reporting.

Customized Chart of Accounts and Account Structure

Establishing a tailored chart of accounts aligns bookkeeping with your Business Structure—whether a sole proprietorship, LLC or corporation—and industry norms. This customized framework dictates how transactions are categorized and reported, supporting detailed analysis by department, location or project. A well-architected account structure streamlines transaction entry and reporting, reducing the need for cumbersome journal entry adjustments later in the cycle.

Compliance and Year-End Close Support

Beyond routine tasks, a comprehensive package often includes support for period-end and year-end close processes: accrual adjustments, depreciation schedules (Form 4562), inventory valuation, and preparation of tax-ready files. These Service Types ensure that data transitions seamlessly into tax preparation or audit workflows, maintaining compliance with GAAP or IFRS standards and relevant federal and state Regulations.

How George Dimov CPA Ensures Complete Bookkeeping

George Dimov CPA’s standard bookkeeping package combines automated bank feeds with dedicated human oversight. We configure your https://cpa-in-seattle-wa.s3.us-south.cloud-object-storage.appdomain.cloud/tax-services/how-can-i-verify-a-cpas-certifications-in-washington-state.html chart of accounts, import and categorize transactions, perform reconciliations, and manage receivables and payables. Our team prepares monthly Financial Documents and provides review meetings to discuss trends and anomalies. Payroll coordination and year-end close support are included, ensuring a turnkey solution. By integrating entity-relationship principles and best-in-class Software Tools, we deliver accurate, audit-ready books that form the foundation for seamless tax filings and strategic advisory. Ready to elevate your bookkeeping? Contact George Dimov CPA for a best CPA in Seattle WA tailored package that meets your needs and budget.