The 5 Best Bookkeeping Services for Small Business

Unfortunately, if flexibility is what you’re looking for, Merritt Bookkeeping may not be for you since you can only import data from QuickBooks Online. If you’re looking for something very cheap and simple and your business is in its very early stages, the affordability of Merritt Bookkeeping makes it a good choice. A downside of Bench is that it specializes in cash-basis accounting, although there is a custom accrual accounting plan on the Pro plan. In this day and age, the providers you contract with don’t need to be in the same city, state or even time zone as you. Remote work has expanded across nearly every field, including bookkeeping.

Online Bookkeeping Services for Your Small Business

And the Executive plan, which is built for larger companies that need CFO services, has custom pricing. You’ll need to get in touch with an inDinero rep for a price estimate. When comparing services, ensure you’re pricing out all the features you need, including add-on services like tax prep, payroll and HR. If you’re considering a bookkeeping service that runs on QuickBooks or Xero, include the cost of that software, too.

Thousands of businesses use QuickBooks Live1

1. When bookkeeping tasks become too time-consuming to handle on your own, hiring an online bookkeeping service can be a worthwhile investment.
2. You can go with the baseline plan, the Simple Start plan, for $30 per month.
3. Even with these features, though, you’ll still want to double-check for errors, which takes time.
4. While there are a myriad of courses available for bookkeeper education and training, a good deal of bookkeepers are self-taught since there are no required certifications needed to work as one.
5. Here are three other online accounting service providers worth looking at.

To downgrade from Expert Full-Service Bookkeeping, you may need to wait until the end of your current subscription billing period. Or let a tax expert powered by TurboTax do your taxes for you, start to finish. With Bench’s Catch Up Bookkeeping services, a Bench bookkeeper will work through past months of disorganized bookkeeping to bring your accounts up to date.

Accurate financials.Total peace of mind.

Business owners or accountants can then use these statements to gain insight into the business’s financial health. Live Expert Full-Service Bookkeeping doesn’t include sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable. The service doesn’t include financial advisory services, tax advice, facilitating the filing of income or sales tax returns, creating or sending 1099s, or management of payroll. QuickBooks Online offers Expert Full Service Payroll for an additional cost. Looking for a scalable outsourced bookkeeping service with flexible payment options? Every inDinero plan includes a dedicated account manager, direct employee reimbursements, some inventory management, and payroll assistance.

Lots of bookkeeping services are built to run on QuickBooks, an industry leader in accounting and bookkeeping software. Some services also support Xero, another popular cloud-based accounting software. If you’re comfortable with your current software, ensure what is a bad debt ratio for a business your bookkeeping service supports it. Is budget your top concern when it comes to online bookkeeping services? With a flat fee of $190 per month, Merritt is one of the most affordable, straight-forward priced solutions out there. Scrambling at the last second to gather documents for tax season is stressful, and rushing bookkeeping-related tasks can make you vulnerable to compliance issues and missed growth opportunities.

Your bookkeeping team will maintain your books throughout the month and review and close them when the month ends. Additionally, they’ll provide you with a monthly report and be available via phone or video chat to answer questions or walk you through your report. Generally speaking, bookkeepers help collect and organize data and may have certain certifications to do so for your business. On the other hand, accountants are generally equipped with an accounting degree and may even be state-certified CPAs. You can expect most bookkeepers to maintain the general ledger and accounts while the accountant is there to create and interpret more complex financial statements.

Take advantage of product demos and introductory calls to find the right service. Add-ons for job costing and project-based accounting may be especially useful for project-based businesses. Other add-ons include inventory management, payroll and 1099 support. If you’re ready to take bookkeeping off your plate and delegate this task to someone else, it can be hard to know where to look. Start by reaching out to other business owners for recommendations, searching online for providers and checking out reviews on Google or Yelp.