7 Best Online Bookkeeping Services for Small Businesses

Bookkeeping services can also help small business owners save more through tax preparation and tax filing. For businesses with over $200,000 of monthly expenses, this might offer the type of customization you’d need. Some additional services you may have access to include inventory tracking, BillPay, CFO services, and tax services. When your business is still growing, bookkeeping isn’t such a cumbersome task. But as the business gets larger, it can start to become a very time-consuming job. Some business owners, for example, might want their bookkeeper to handle payroll, HR or other back-office jobs like invoicing, bill pay and inventory management on top of fielding basic bookkeeping tasks.

1. Bookkeeping services can also help small business owners save more through tax preparation and tax filing.
2. If you don’t walk away from your initial interactions with your prospective virtual bookkeeping service feeling 100% confident that this company has your back, then just say no.
3. We’ve analyzed and rated the best online bookkeeping services to help you make the best decision when choosing the right one.
4. In this age of cloud accounting and virtual bookkeeping services, they should be able to have reports sent to you on a schedule.
5. If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward.

Examples include bookkeeping journal entries, bookkeeping ledger, bookkeeping reconciliation and bookkeeping trial balance. The first method of accounting is the cash-based accounting method. This method records financial transactions when money is exchanged.

Best for Hiring Certified Bookkeepers

Therefore, make sure you ask them which accounting app they use for their business and why. If they are using different software and tools, you should figure out why and use that to determine if you really want to work with them. We’re here to help you explore whether our cash basis bookkeeping is a good fit for your business.

Do you need add-on services outside of basic bookkeeping tasks?

Keeping up with the records in your small business might be a task you are willing and able to tackle yourself. The system you choose to use doesn’t need to be complicated and the ledgers should be straightforward, especially if you have just a few or no employees. The most important parts of doing your own bookkeeping are staying organized and keeping track of the details. You won’t need any other software to work with Bench—we do everything within the platform. Here are 11 alternatives to explore, each with a different emphasis in supporting your small business finances. With Live Expert Assisted, you’ll still be managing your own books.

Best for Startups

It works with Quickbooks or Xero but you’ll need your own subscription to those services. We’ll work with you to connect accounts and pull the data we need to reconcile your books. We use Plaid, which lets you securely connect your financial accounts to Bench in seconds. This feature saves you the time and effort of manually uploading documents. If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward. If you’re not sure whether your closing balances target costing and how to use it are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping.

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. If you don’t feel comfortable with a freelancer, there are many firms that offer bookkeeping services as well. You don’t have to hire someone to come into your office to have an in-house bookkeeper — many are virtual.

Bookkeeper.com is an all-in-one small business solution for bookkeeping and accounting services. If you have multiple needs, such as help with payroll and taxes, in addition to your day-to-day accounting, this could be a good fit. There are several online bookkeeping services available, but we’ve identified the best in terms of pricing, features, and quality of service. Each plan comes with a finance expert, automated transaction imports, P&L, balance sheet and cash flow statements. You’ll also get burn rate calculations, which is helpful for startups that need to closely track their spending.