8 Best Online Bookkeeping Services for Small Businesses of June 2023

Start by making a list of priorities—the items that need attention right away, and the ones that will need to be addressed within six months. Next, you’ll have to pick if you want to work with an independent accountant or an accounting firm. No matter which you opt for, you’ll want to select someone who has plenty of experience with the type of small business you have and who you feel comfortable sharing sensitive information with. Bookkeeping services start at $375 monthly and are only available with the Enterprise plan, which also includes priority support and access to financial reports. As your business grows and potentially takes on funding, the accrual-based and advanced bookkeeping services that it offers will be especially useful. You’ll be matched with a dedicated bookkeeper when you enroll in the service, and they’ll walk you through how to integrate your existing processes and software with QuickBooks.

• Even companies that are the same size and industry pay very different amounts for accounting.
• Outsourcing the task can help you quickly parse out which types of projects are worth your business’s time and effort.
• 1-800Accountant is a nationwide virtual accounting firm that will handle all of your accounting needs, from bookkeeping to tax preparation and filing.
• The price is the same regardless of your business size or the number of employees.
• Online accounting firms typically charge a monthly fee, which can help businesses to plan their expenses.

Because while every task the bookkeeping service completes is vital to the financial health of your business, it’s the underlying structure they apply that really makes a difference. If you already are using an accounting or bookkeeping software program, it would be ideal to work with a firm that utilizes the same software. If you don’t already use a software program, the accounting firm will recommend a package.

Industry

Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Tim is a Certified QuickBooks Time (formerly TSheets) Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience. He brings his expertise to Fit Small Business’s accounting content. Our tax pros help grow your bottom line and put money back in your pocket by finding every available credit and deduction relevant to your industry. Whether you’re a team of one or 10, our tax experts are here to help, so you can focus on what’s coming next.

Your team of small business experts imports bank statements and prepares financial statements every month. Your Bench bookkeeper works in-house, and they’re backed by our in-house research team to provide you with informed answers to complex questions. Bench offers bookkeeping support at a lower price than many competitors and is a good choice if you prefer to completely hand over your bookkeeping to an online service. Annual subscriptions, starting at $249 per month when billed yearly, are also available. While they require a larger upfront payment than a month-to-month plan, they can save you money in the long run.

How much does a bookkeeper cost

Although it’s a virtual service, Bench personalizes its clients’ experiences by assigning them a dedicated team of in-house professionals. The team takes over all bookkeeping functions, including setting up your account and linking it with all your financial accounts to upload data. The team then categorizes all your transactions, reconciles your bank accounts, and prepares monthly financial statements. Beyond general journal and ledger bookkeeping, bookkeeping for startups an accounting firm also can perform account reconciliation, payroll processing, cash flow management, monthly statement preparation, and tax services. It also can provide additional layers of accounting functions to accommodate a growing business’s expanding needs. If your business is moving into a growth stage, you need to consider graduating to full accrual based accounting, with financial and management reports that help you scale.

The average accounting fees for a small business depend on the kind of financial professional used. A bookkeeper helps with tasks like recording transactions, processing payroll, invoicing customers, and balancing your books. Accountants and CPAs help with more advanced tasks, such as filing small business taxes, generating statements, analyzing costs, and giving advice.