Online bookkeeping services assist small businesses manage their accounting, payroll and tax needs. Whether you would like to keep some responsibility or outsource everything, we’ve done the legwork for you and found a mix of the 5 best providers with an established track record. Continue reading for reviews of these online bookkeeping services.
Best Online Bookkeeping Services for 2018
| Company | Who’s it best suited to? | Price Range |
|---|---|---|
| Bookkeeper.com | Small companies that want an all in 1 solution: bookkeeping, payroll & tax. | $97-$485/month |
| Bench | Startups and tiny businesses who have a tax pro but want a bookkeeper. | $135-$470/month |
| Bookkeeper360 | Small companies Using Xero or Need to move away from QuickBooks. | $249-$1,149/month |
| Merritt Bookkeeping | Small businesses who want a low affordable rate. | $150/month |
| inDinero | Small businesses that need both accounting & yearly tax filings all in a single monthly fee. | $295-$1250/month |
We Evaluated Bookkeeping Services
As part of the study with the buyer’s guide, we looked in a selection of businesses that provided virtual bookkeeping services. We evaluated which of those companies were the Very Best and cut the list down to the top 5 according to the following:
- Cost — Many accounting services companies weren’t transparent about their pricing or charged very substantial prices. In order to make the cut, the business needed to fit a small business budget.
- Fundamental accounting services — Including things like paying bills, income and expense categorization, and reconciling bank and credit card statements.
- Payroll and tax return services — This is useful for smaller businesses which are growing and want to have one firm take over their accounting, accounting, and financial functions.
- Accounting software — We favored bookkeeping firms that worked with QuickBooks since this is the most popular and also our recommended accounting applications for small companies.
- Customer service — Who is the team behind the business, and how accessible are they for customers?
3 out of 5 of our best picks provide bookkeeping, payroll and tax prep services. While Merritt Bookkeeping & Bench only provide accounting services, they made the cut since they offer affordable pricing, which we know is important to small business owners like yourself.
Below are the 5 greatest online bookkeeping services for small companies:
Best Total Online Bookkeeping Service: Bookkeeper.com
Bookkeeper.com is located in Waynesboro, VA and includes a team of fourteen that contains EAs, CPAs, and Certified QuickBooks ProAdvisors. They’ve been servicing customers for more than 25 years in regions including bookkeeping/accounting, tax planning and preparation, payroll services, and financial planning & investment.
Who They Are Best Suited For
Small businesses that need an all round solution for bookkeeping, payroll & tax preparation services. Bookkeeper.com is a superb solution if you would like to work with a single firm for all your financial needs since you’ll have access to a certified tax or bookkeeping rep who will answer your own questions.
Pricing & Features
$97 — $485 per month and a $149 one-time installation fee.
Bookkeeper.com has 3 major pricing packages that vary depending on the amount of bank/credit card transactions you have monthly. This pricing is for bookkeeping providers only. Payroll & income tax planning are add-on services that you can include for an additional price.
Services They Offer
Bookkeeper.com will handle your books utilizing QuickBooks Desktop or QuickBooks Online.
Here is a list of what’s contained in their accounting services:
- QuickBooks company file installment
- Create a customized chart of account
- Setup & handle bills so they are paid punctually
- Setup & handle customer invoicing and payments
- Reconcile all bank and credit card accounts
Income and expenditure categorization is key, so one of the first things bookkeeper.com will do is create a custom chart of accounts that fits your specific business. They’ll accommodate all bank and credit card accounts for you to make sure your QuickBooks file matches your own bank and credit card bills. Finally, they’ll prepare financial statements and review them with you every month.
Bookkeeper.com requires a more conventional approach to handling your books. Should you normally pay suppliers using checks rather than credit or debit cards, subsequently bookkeeper.com will publish and mail those checks for you. Bookkeeper.com will also bill your customers and monitor them to ensure timely payment.
What Sets Them Apart from Their Competition
It is said that experience is the best teacher; that’s exactly what provides bookkeeper.com an edge over their competitors. They’ve been helping small business owners manage their own finances for at least 25 years, so that you can be certain that they’ll provide you with the best service. They’re also the most scalable and give the very best above-mentioned solution.
Finest Online Bookkeeping Service for Xero: Bookkeeper360
Bookkeeper360 was set in 2012 by Nick Pasquarosa. They have partnered with Xero to supply 100% cloud-based bookkeeping, payroll and taxation services for Xero users. They have a dedicated team of Xero accredited bookkeeping and accounting specialists as well as payroll and taxation experts.
Who They Are Best Suited For
Small companies who currently use Xero or businesses searching for an alternative to QuickBooks. Bookkeeper360 works best for smaller companies that enjoy the idea of having everything under one roof. Whether you require bookkeeping and tax services now and payroll in a couple of years once you eventually hire that first employee, bookkeeper360 has you covered.
Pricing & Characteristics
$249 — $1,149 per month
Bookkeeper360 has 4 pricing bundles, with solutions that vary from quarterly bookkeeping for small businesses in the first phases of operation (Ground bundle ) to a daily bookkeeping option for those businesses who’ve been around for many years (Virtual CFO package).
Services They Provide
Bookkeeper360 will manage your publications using Xero, a cloud-based accounting software.
Here is a list of what’s included in their accounting services:
- Dedicated account manager
- Bill cover
- Expense and reception management
- Invoicing
- Charge card payments & merchant services
- Payroll (*)
- Taxes (*)
- Technology Add-ons (*)
(*) Additional fees may apply
Switching accounting methods can be difficult. Bookkeeper360 understands the importance of earning certain all of your existing information gets moved to Xero and that nothing has lost. Included in the onboarding process, they will make sure that your data stays intact.
All pricing packages incorporate a dedicated account manager. Having one point of contact that you could reach out to for queries concerning your books is key. This will save you a great deal of time since you won’t need to call a 1-800 number and expect that you don’t receive a customer service rep who has been on the job for a week. With Bookkeeper360, you will have an account supervisor that knows you and your business .
What Sets Them Apart from Their Competitors
What makes Bookkeeper360 unique is they have successfully built their practice on one accounting software, Xero. If you are unfamiliar with Xero, then it’s a rising star in the cloud accounting program space. Bookkeeper360 has a group that is certified in Xero and they are a Platinum Xero Partner, so they’ve successfully set up countless small businesses on the Xero platform.
Finest Online Bookkeeping Service for Small Businesses on a Budget: Merritt Bookkeeping
Merritt Bookkeeping is located in San Diego, CA and they service hundreds of small companies all over the United States. They have a staff of six expert bookkeepers and are in business since 2009.
Who They Are Best Suited For
Small businesses that want a low and very affordable rate. You are an ideal customer for Merritt Bookkeeping if:
- You do not have employees to pay, you’ve got someone else who oversees your payroll, or you utilize QuickBooks Payroll and do it yourself
- You do your own taxes or you have a CPA or tax practitioner that can prepare your tax return using the financials supplied by Merritt Bookkeeping
- You do not need to bill customers, or you put up invoice payments yourself
Pricing & Characteristics
$115 per month, no setup fees.
The pricing structure for Merritt Bookkeeping is the simplest from each one of the companies that we researched.They charge $150 a month plus they do not charge any setup fees, which is quite rare for an internet bookkeeping service.
They will also discount any backlog that you have at $100 a month. For instance, if you contact them in June, they will charge you $100 per month to grab January through May, and then for June and later, you will be charged $150 per month.
Services They Provide
Merritt Bookkeeping will handle all your earnings and expenses in QuickBooks Online. Using QuickBooks Online to handle your books, they will connect all your bank and credit card accounts so that your income and expenses will automatically download in the accounting software. They will also connect an app such as Bill.com to QuickBooks in order to cover your bills on time.
Should you need to invoice your clients, however, Merritt will not do that for you. You will need to install automatic recurring invoices in QuickBooks or locate a program that can do it for you. By taking this automated method of accounting, Merritt Bookkeeping can focus on making sure that all income and expenses are accounted for, and properly categorized instead of spending hours doing manual data entry.
What Sets Them Apart From Their Competition
In a flat rate of $150 a month, Merritt is a fantastic solution for a business that’s on a budget. Together with Merritt Bookkeeping there are no openings. You understand exactly what your bookkeeping price is upfront. Your invoice won’t go up if the number of transactions per month raises or if you added a new bank accounts that needs to be reconciled.
Finest Online Bookkeeping Service for Small Businesses With a Tax Guru: Bench
Bench launched in 2013 and they are located at Vancouver, BC. They’ve a group of expert bookkeepers in-house that appeal to managing the books of many small business owners.
Who Are They Best Suited For?
Small businesses who have a CPA or tax professional to file their taxes but want someone to look after the books. You are the ideal client for Bench if:
- You do not bill customers or you use another system to handle customer billing.
- You don’t have workers to pay or you employ an external payroll service to handle all payroll jobs.
- You’ve got an accountant or CPA that you would rather file your tax returns, or you use an accounting software such as TurboTax to do your taxes.
Pricing & Features
$135 — $470 a month, no setup fees.
Bench has 5 packages starting with the Micro bundle at $115 per month. Each package is based on the total monthly expenses which you have, starting with $7,500 or less. The price goes up based on the following key variables:
- Quantity of bank/credit card accounts to be reconciled
- Custom add-ons (i.e. merchant processors like Intuit deductions or Payments providers like Gusto)
Services They Provide
Similar to Merritt Bookkeeping, Bench is strictly limited to providing bookkeeping services only. This includes the following:
- Reconciling bank/credit card accounts
- Managing custom add-ons (merchant chips or payroll suppliers )
- accessibility to an accountant/Bookkeeper who will answer your questions
- Communicate directly with your CPA/tax specialist to Give information for tax return
What Sets Them Apart From Their Competitors
What sets Bench apart from their competitors is that they’ll work directly with your CPA/Tax accountant to supply the info that is required to file your tax return without even bothering you. Out of each the companies that we investigated, this is the only company that offered this kind of service, at no additional cost.
Finest Online Bookkeeping Service for Small Firms That Use a QuickBooks Alternative: inDinero
InDinero was launched back in 2009 to assist modest businesses and entrepreneurs simplify their back office accounting. InDinero supports hundreds of businesses across the U.S. with offices in San Francisco, Portland, New York, & Manila.
Who They Are Best Suited For
Small Businesses who need both bookkeeping & annual tax filings all in one monthly fee. You’re an Perfect customer for inDinero if:
- You need someone to manage employee reimbursements
- You require someone to reconcile your payroll and file your payroll tax returns.
- You need someone to do your inventory accounting.
Pricing & Features
$295 — $1,250 per month, no setup fee.
InDinero has 3 pricing strategies starting with their Basic plan at $295 per month. The primary difference between each bundle has to do with all the following:
- Quantity of bank/credit card balances that need to be reconcile
- Total monthly trades for many bank/credit card accounts
- Payroll reconciliation, if desired
- Inventory accounting, if desired
Services They Offer
All 3 inDinero pricing programs include the following bookkeeping services:
- Bank/credit card accounts reconciliations (amount of accounts dependent on the plan that you choose).
- Categorization of yearly bank/credit card accounts (number of transactions determined by the plan which you select ).
- Annual federal & state tax filings
- Profit & loss, balance sheet & cash flow statements provided each month
- Invoicing & bill pay
- Worker reimbursements
Based on which pricing strategy you choose, these solutions are also available:
- Payroll reconciliation
- Lease accounting
- Revenue recognition
What Sets Them Apart From Their Competition
InDinero does not use one of the accessible accounting software in the marketplace. Rather, they’ve designed their own system with the company owner/CEO in mind; while others have been built with the CPA/accountant in mind. This makes it quite easy for anybody without a bookkeeping or accounting background (like most small business owners) to utilize.
The Bottom Line
It’s decision time. If you’re a company startup or solopreneur with no workers and no stock, go with Merritt Bookkeeping. If you require bookkeeping, tax, and payroll aid, go with bookkeeper.com.to have a single source for everything.
If you prefer to do your own bookkeeping then it’s possible to discover how to use QuickBooks Online by choosing our complimentary QuickBooks Course. This course will provide you with step-by-step directions on the best way best to set up your business and manage your income and expenses. Before you choose the course, you may register for a free 30 day trial of QuickBooks Online, no credit card required.
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