Bookkeeping Services
Expert bookkeeping tailored to service-driven companies, bringing clarity to your finances so you can focus on your clients.
Every service-based business deserves stress-free finances. At OnTrack Bookkeeping, we understand the unique challenges service providers face – from tracking project profits to managing recurring client billing. Our experienced team takes bookkeeping off your plate and provides the financial clarity you need to make informed decisions. Whether you run a consulting firm, marketing agency, or any service company, we’ll keep your books organized, accurate, and on track.
Our Service Business Bookkeeping Services Include
Cash Flow Tracking
We monitor and manage your cash inflows and outflows to help maintain healthy cash flow. By keeping a close eye on timing of revenue and expenses, we ensure you’re prepared for slow periods and growth opportunities alike.
Project-Based Reporting
Gain insight into each project’s profitability. We set up your books to track income and expenses by project or client, so you can see which jobs or contracts drive your profits and make data-driven decisions on pricing and resource allocation.
Recurring Revenue Recognition
For businesses with retainers or subscription services, we handle proper recurring revenue tracking. Our team sets up schedules to record revenue from ongoing contracts in the correct periods, giving you an accurate picture of monthly and annual income.
Client Invoicing & A/R Management
Let us take the hassle out of billing. We can manage your client invoicing process – from generating and sending invoices on time to tracking accounts receivable. You get faster payments, reduced errors, and confidence that no client invoice slips through the cracks.
Financial Clarity through Reporting
Receive easy-to-understand financial reports that shine a light on your service business’s performance. We deliver monthly financial statements, customized dashboards (like revenue by service or project), and straightforward explanations so you always know where you stand and can plan ahead.
Why Choose OnTrack for Service-Based Bookkeeping
Deep Service Industry Expertise
Our team has years of experience supporting service-based businesses across consulting, creative agencies, IT services, trades, and more. We understand that service companies have no inventory to track but must closely manage projects, contracts, and client relationships. We tailor your bookkeeping to fit these needs, ensuring nothing falls through the cracks.
Certified QuickBooks ProAdvisors
OnTrack Bookkeeping is led by certified QuickBooks ProAdvisors and seasoned accountants. We leverage the full power of QuickBooks (and other leading software) to streamline your bookkeeping. From implementing job tracking for projects to automating recurring invoices, we use technology and best practices to save you time and money.
Accurate, Timely & Transparent
We pride ourselves on precision and promptness. Your transactions are recorded accurately and on schedule, so your books stay up-to-date. You’ll receive financial reports on a regular schedule, and we’re always available to answer questions. No more last-minute scrambles at tax time or confusion about where your money went – we keep everything organized and transparent.
Personalized Support & Guidance
At OnTrack, you’re never just another client. We act as an extension of your team, providing one-on-one support. Have a question about a report or a concern about cash flow? You’ll get clear, helpful explanations from a dedicated bookkeeper who knows your business. Our goal is not just to tally numbers, but to help you understand your finances and feel confident in your decisions.
Common Questions
How is bookkeeping for a service-based business different from other businesses?
Service businesses don’t sell products or hold inventory – instead, they earn revenue by providing services, often through projects or ongoing client relationships. This means bookkeeping must focus on things like tracking billable hours, project expenses, and invoicing for services rendered. Cash flow can be less predictable than retail since payments might arrive after a project or on a monthly billing cycle. Our service-based bookkeeping addresses these differences by emphasizing project-level tracking, diligent accounts receivable follow-up, and scheduling revenue recognition for retainers or subscriptions. The result is bookkeeping that accurately reflects how your service business operates.
Can OnTrack help me see the profitability of each project or client?
Absolutely. A key advantage of our bookkeeping service is project-based accounting tailored for service providers. We set up your QuickBooks (or preferred software) to track income and expenses by project, job, or client. This means you’ll receive reports showing revenue, costs, and profit for each engagement or contract. You’ll clearly see which projects are most profitable and if any are running over budget. Having this level of insight helps you plan better, price your services appropriately, and focus on the work that benefits your bottom line.
I bill clients on a recurring basis (monthly retainers/subscriptions). Can you handle that?
Yes – managing recurring billing and revenue is one of our specialties. We can establish recurring invoices for your clients on whatever schedule you need (weekly, monthly, quarterly, etc.), so invoices go out automatically and on time. As payments come in, we record them and ensure the revenue is recognized in the proper period. If any client falls behind, we can help alert you or even assist with gentle follow-ups as part of accounts receivable management. By automating and tracking recurring revenue, you maintain steady cash flow and have an accurate forecast of future income.
Client Highlight
“OnTrack Bookkeeping transformed how we manage our agency’s finances. Before, we struggled to track each project’s expenses and often forgot to send recurring invoices for our retainer clients. OnTrack set up a system where every client project’s income and costs are clearly tracked, and our monthly retainer billing runs like clockwork. Now we get easy-to-read reports each month showing exactly how profitable our projects are and what our cash flow looks like. I can’t believe how much stress it relieved – I get to focus on our clients while OnTrack handles the numbers.”
– Jamie R., Founder of BrightWave Creative
Ready to Achieve Financial Clarity?
Ready to spend more time serving your clients and less time worrying about spreadsheets? Contact OnTrack Bookkeeping today to schedule a free consultation. Let our experts handle the bookkeeping details and keep your service business finances on track, so you can focus on growing your business with confidence.