The Best Bookkeeping Services for Small Business

The Best Bookkeeping Services for Small Business

What Does a Bookkeeper Do, and How Can They Help My Business?

Virtual can mean working with a person or persons online, not locally, and mainly through computers and an online network. For the person who is under the total misconception that those who offer bookkeeping, accounting, and income tax preparation for small business – think again. CPA’s hire people all the time to perform the same services within their firms.

We took a cold, hard look at last year’s top picks and completely revamped our favorite virtual and outsourced accounting services of the year. Most importantly, Bookkeeper.com and Bench moved out of our honorable mentions and into our top five, Merritt Bookkeeping took home our most accounting services affordable prize, and Bookkeeper360 hit our radar as a great option for businesses looking for more than just bookkeeping and accounting. Speaking of honorable mentions, we tweaked those too. These new and updated 10 options best represent our picks for outsourced accounting.

Both methods have pros and cons, but cash-basis is more common for smaller businesses with no inventory. Otherwise, cash-basis accounting can paint an incomplete picture of your business’s sales, especially if you have a large backlog of clients with unpaid invoices. No problem.

Questions? Bench bookkeepers work in-house, and they respond within one business day. Rayvat is one https://accounting-services.net/ of the foremost outsourcing services providers of Virtual accounting and bookkeeping services.

Merritt Bookkeeping offers a flat monthly rate of $190, which beats out most of the competition. Unfortunately, Merritt doesn’t offer many of the services that other providers we compared do, like payroll management, invoicing, or tax filing, but it provides enough bookkeeping services to free up valuable time. Unfortunately, Merritt Bookkeeping doesn’t list much additional information about its services online.

Their at-a-glance visual reports help you see the big picture and give you actionable insights to grow your business. If your books are current, there’s no fee. If they’re messy when you start with Ignite Spot’s online bookkeeping services, we can help you update them for a one-time fee. We’ve helped a lot of businesses clean up their books and will do the same for you.

If you need an all-in-one affordable accounting solution with optional full-service payroll and tax prep assistance, Bookkeeper.com can help. Some online accountants may just provide general bookkeeping services so you can record your income and expenses and then you would need to pay for any bolt-ons such as help with filing, financial forecasts or business plans.

If you use an accrual-basis accounting system rather than a cash-basis system, Bookkeeper.com also has your back. Only a handful of virtual bookkeeping and accounting services work with both accrual-based and cash-based accounting, and Bookkeeper.com is one of them. Virtual Bookkeeping Services specializes in online and remote bookkeeping services for small businesses and not-for-profit organizations. We work in QuickBooks and can perform the bookkeeping no matter where you are located.

This India-based operation offers hourly pricing options and by-the-project billing. The company has been around since 2002 and has clients all around the world. If you aren’t interested in offshore customer service, you’ll probably want to look elsewhere, but if you’re interested in paying between $8 and $15 an hour for quick accounting help, Flatworld Solutions is a good bet. Bookkeeper360 offers three main outsourced accounting plans.

• As a small business, you can also save money that you would otherwise spend on hiring full-time staff.
• This type of virtual bookkeeping and accounting service is similar to hiring a part-time bookkeeper to help with payroll, accounts payable, accounts receivable or other regular bookkeeping tasks.
• And using ZipBooks, you protect your accounting data from physical loss and theft.
• Your online bookkeeper can manage all of your invoicing and customer interactions so that you get paid on time for your work.
• This type of bookkeeping and accounting service is a great option for small businesses that do not yet have major financial requirements.
• The bookkeeper prepares the books and makes accurate financial records available.

This virtual accounting company offers a variety of add-ons and perks, especially in the HR and payroll department. It works with ADP and Gusto—two of our favorite payroll service providers—to make direct deposits, help with time tracking and PTO, file payroll taxes for you, and find medical benefits and workers compensation insurance for your small business. If you hire a tax professional for a few weeks out of the year, you can save additional time and costs with Bench’s bookkeeping-only plans. With Bench, every customer gets a dedicated bookkeeper who talks you through setting up Bench’s in-house software, analyzes your books, and sends you monthly financial reports. The term “outsourced” is sometimes used to reference services located overseas, but outsourcing really only means sourcing certain department functions outside of your company or not using in-house employees.

If you’d like, your dedicated Bench professional can connect directly with your current part-time tax professional or accountant—the two of them can hash out bookkeeping details without bogging you down in tedious tasks. Bench will even prepare your tax paperwork for you, simply leaving the filing up to you, your CPA, or your tax professional.

They might simply input payroll data into your accounting system after your payroll service provider has submitted reports to you, or they might import the data from a file provided. Bookkeepers might also help you manage timesheets for hourly employees or overtime.

Business owners can appreciate the affect that a great online accounting service has on making key business decisions. We have in-house qualified accountants on staff with the right experience to provide such a service. We hope this article helped you learn about the best bookkeeping services for your online business. You may also want to see our comparison of best business phone services and best email marketing services for small businesses. Integrations – If you are using a cloud accounting software like QuickBooks or Freshbooks, then your bookkeeping service should work with those apps.

Thousands of small business owners trust Bench with their books

That means that your team is American, accessible, and trained to support you.

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The cost of your online accounting services will be adjusted to meet your needs. With bookkeeping off your plate, you can focus on your business.