Online Bookkeeping Services for Small Businesses Bench Accounting

11 May Online Bookkeeping Services for Small Businesses Bench Accounting

You’ll also get burn rate calculations, which is helpful for startups that need to closely track their spending. The right bookkeeping services can provide the solution to these stresses. We want to share several bookkeeping definitions and examples to help you understand why this service is essential and decide what type of bookkeeping services are right for you. Bookkeeping is an essential administrative function of small business success that many business owners and founders don’t know how to manage. 60% of business owners admitted they aren’t confident in finance and accounting, including bookkeeping. Even those who are confident may simply not have time to give their books the attention they need.

Merritt Bookkeeping scored the highest of our online bookkeeping providers in the pricing category—at an affordable $190 per month, it’s a transparent and fixed rate. Being a Merritt Bookkeeping customer also eliminates the need to pay a subscription fee for real estate bookkeeping accounting software as Merritt will handle everything for you. While it lacks its own mobile app, you can use QuickBooks Online’s app to access your books. It’s ideal for businesses looking to outsource their bookkeeping with a full-service accounting firm.

Why would you hire a professional bookkeeper?

The current average full-charge bookkeeper’s salary fluctuates between $35,000 to $55,000 per year while the average price of outsourcing your bookkeeping needs ranges from $500 to $2,500 a month. Small-business tax credits and deductions, prepare your returns and even file them. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Tim is a Certified QuickBooks Time Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience.

• Bookkeeper360 offers both accounting and cloud-based bookkeeping services and business advisory services.
• Not only does the activity require extreme organizational, management, and math skills, but a bookkeeper must also have people skills in order to make this work.
• Merritt Bookkeeping has the most competitive pricing on our list and is the only one to offer a flat rate for all types of businesses.
• Its basic plan is aimed at new companies that require online bookkeeping services.
• Increase business profitability and gain more time to focus on business-building and revenue-generation.

Lite Virtual Chief Financial Officer services on the Small Business Plus plan and above. 30-minute-monthly scheduled meeting on the Small Business Plus plan and 45 minutes on the Small Business Advanced Plan. Connects with most major payment processors on the Flex and Pro plan.

Best for Full-service Bookkeeping

The best online bookkeeping services for freelancers prioritize tracking income and expenses for the purpose of filing an annual Schedule C tax return. Ideally, they’re also affordable and provide access to a dedicated bookkeeper or an expert who can assist with questions. Many of the top online bookkeeping firms also offer add-on services, such as… Our overall best online bookkeeping service is Bench because it provides bookkeeping support at a lower cost than many similar platforms while also offering tax assistance and payroll integration. It even has catch-up bookkeeping services—ideal if you have fallen more than two years behind in your bookkeeping.