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A bookkeeping services agreement outlines the terms between a client and a bookkeeper for providing accounting services, either on a one-time or recurring basis. The video explains the role of a bookkeeper, typically an accountant, who manages financial records for businesses or individuals, facilitating internal reports and tax returns. The specific tasks can vary but may include overseeing accounts payable and receivable, bank reconciliation, bill payment, budget preparation, customized reports, general ledgers, financial statements, payroll, and check registers. Bookkeepers can work full-time, part-time, or on a contract basis. The video also offers a free bookkeeping contract template at the end.