>

5 Best online accounting service for small business

The world has changed and it’s no longer easy to run a business. Clients are looking for online accounting service for small business. For example, in the past, it was easy for people to get financing for their businesses, but now many financing sources are hard to come by.

Accounting is a necessary component of most businesses. It is a process of recording a businessโ€™s financial activity. In order to make sure that a company is operating properly and properly set up for financial stability, it is important to have a good bookkeeper on your side. We have found the Best online accounting service for small Businesses.

Online accounting service for small Businesses

The Top Online Accounting service for small business

Accounting servicesBestPricing
Bookkeeper360Best overall.$349 per month and up.
Bench AccountingBest for new businesses.$249 per month (when billed annually) and up.
QuickBooks Live BookkeepingBest for QuickBooks users.$200 per month and up, plus $500 for the first month of onboarding.
Merritt BookkeepingBest for businesses on a budget.$190 per month
PilotBest for fast-growing startups.$599 per month (when billed annually) and up

1. BookKeeper360- Best accounting service for small business for Performance

Bookkeeper360:Best Performance

Dedicated BookkeeperCatch-up BookkeepingBill PayInvoicingBank ReconciliationPayrollTax Filing roll
YES YES YESYESYES

Bookkeeper.com Features

Dedicated bookkeeper and account managerMonthly financial statementsFree adviceSoftware setupPayroll and tax preparation add-ons
YESYESYESYESYES

Bookkeeper.com Pros and Cons

PROSCONS
All-in-one bookkeeping, tax, and consulting solutionNo mobile app is available
Specializes in QuickBooks OnlineHigh monthly service fee
Dedicated bookkeeperLack of transparent pricing with add-on services like tax preparation
Payroll is available for an additional feeMust pay for features that you may not need
A secure online network that protects your financial dataNo free trial is available

Bookkeeper.com Plans and Pricing

PlansPricing
Small Business (monthly)$399 per month for up to 100 transactions per month
Small Business Plus (semi-monthly$599 per month for up to 200 transactions per month plus 20 bill payments
Small Business Advanced (weekly)$799 per month for up to 300 transactions per month plus 40 bill payments
Custom (weekly)Custom pricing for more than 300 transactions per month

Expert advice on BookKeerper.com

Filing taxes is a painful experience for many Americans. This is why a growing number of companies are looking for alternatives to traditional accounting firms.

And yet, itโ€™s still not easy to find a good accountant. This is where a company like Bookkeeper.com comes in.

The company provides virtual services typically provided by traditional accounting firms, such as financial reporting and tax filings.

Additionally, youโ€™ll be able to access your tax documents online anytime and anywhere.

Bookkeeper.com is one of the best online accounting service for small business. You’ll have access to bill pay, payroll services, and a knowledge base that will help you best organize your business.

They also offer a variety of advice to assist you in best managing your company. You’ll pay a monthly fee that includes a variety of services, including payroll and tax filing.

2. Bench Accounting. Best online accounting service for small Businesses

Bench Performance

Dedicated BookkeeperCatch-up BookkeepingBill PayInvoicingBank ReconciliationPayrollTax Filing 
YesYes  Yes Yes

Bench Features

Dedicated bookkeeperFinancial statementsCatch-up bookkeepingTax assistancePayroll integration
YesYesYesYesYes

Bench Pros and Cons

ProsCons
Supports unlimited usersBench operates on proprietary software that doesnโ€™t integrate with other accounting software like QuickBooks
Catch-up bookkeeping services are availableNo mobile app for Android
Affordable plans include annual income tax returnSeparate software is required for invoicing, bill payment, payroll, and inventory management
Access to a team of in-house bookkeepers 
Mobile app available 

Bench Plans and Prices

PlansPricing
Essential$299 per month for monthly bookkeeping ($249 per month if paid annually)
Premium$499 per month for monthly bookkeeping, annual tax filing, and tax advisory services ($399 per month if paid annually)

Expert advice on Bench

It can be hard for startups and small businesses to stay on top of their finances without the help of an accountant.

Every few weeks, these businesses have to make sure that they have enough cash to cover payroll, rent, and more. Traditional forms of accounting can be expensive, tedious, and time-consuming.

This is where Bench comes in. Itโ€™s a solution thatโ€™s designed to help businesses manage their finances easily, quickly, and affordably. Itโ€™s a tool thatโ€™s easy to use and powerful.

Itโ€™s perfect for freelancers and small businesses that need to know about their finances and stay on top of current financial trends.

If youโ€™re looking for an easy way to manage your finances, one thatโ€™ll help you save time and keep your business on track, Bench is the perfect solution.

As one of the best overall online accounting service for small business, Bench is designed to not only keep you organized but also to help you save money.

3. QuickBooks Live Bookkeeping

QuickBooks Live Bookkeeping Performance

Dedicated BookkeeperCatch-up BookkeepingBill PayInvoicingBank ReconciliationPayrollTax Filing 
YesYesYesYesYesYesYes

QuickBooks Live Bookkeeping Features

Dedicated bookkeeperReal-time accessCustomized setupPayroll add-on
YesYesYesYes

QuickBooks Live Bookkeeping Pros and Cons

ProsCons
Dedicated bookkeeperRequires a separate subscription to QuickBooks Online
Monthly financial reportsDoesnโ€™t include bill payments, invoicing clients, accounts receivable (A/R), or accounts payable (A/P)
No contract requiredFinancial and tax advice isnโ€™t available
100% Accurate Books GuaranteeAccrual method accounting isnโ€™t supported and Inventory management isnโ€™t included

QuickBooks Plans and Pricing

PlansPricing
Low volume$200 for up to $10,000 in monthly expenses
Medium volume$300 for between $10,000 and $50,000 in monthly expenses
High volume$400 for more than $50,000 in monthly expenses

Expert advice on QuickBooks

QuickBooks is popular accounting software used for online accounting services for small businesses and individuals. QuickBooks is also offered as a cloud-based solution for businesses with employees.

With this new software from Intuit, you can track your inventory, manage your customers, and view your financial reports with just a few clicks of the mouse.

You can even use this software to help collect sales tax. QuickBooks Live is the easiest way to manage your business, and you can start it up in minutes.

So, if you’re interested in a new way to manage your business, check out QuickBooks Live today! You can use QuickBooks to keep track of your financials, manage your payroll, and handle invoicing.

4. Merritt Bookkeeping

Merritt Bookkeeping Bookkeeping Performance

Dedicated BookkeeperCatch-up BookkeepingBill PayInvoicingBank ReconciliationPayrollTax Filing 
 Yes  Yes  

Merritt Bookkeeping Features

Dedicated account managerIntuitive user interfaceMonthly financial reports1099 filing90-day money-back guarantee
YesYesYesYesYes

Merritt Bookkeeping Pros and Cons

ProsCons
100% money-back guarantee if youโ€™re not satisfied with servicesAccrual basis accounting is not available
Catch-up bookkeeping available for an additional feeNo personal access to your QuickBooks files
Budget-friendly, flat-rate pricing with no setup chargesOnly basic bookkeeping services are offeredโ€”doesnโ€™t include payroll, tax, or invoicing
Quick setup and initiation process 

Merritt Bookkeeping Plans and Pricing

PlansPrices
No restriction on the number of monthly transactions
or the frequency of the service. 
Merritt Bookkeeping offers a flat rate of $190 per month
Business or the number of employees.Same price as the Business size or the employees

Expert advice on Merritt Bookkeeping

Merritt Bookkeeping is an online accounting service for small business and people in cash-based businesses who use QuickBooks.

The company offers a basic package for $89 a month that includes monthly financial statements, a 1099 filing for contractors, and no other services.

The company is a great option for online bookkeepers in areas with a high cost of living and it offers a discounted package for entrepreneurs who are under the company’s mentor-mentee program.

With the flat-fee pricing, there are no surprises with billing, and the money-back guarantee allows you to test drive the software for 90 days at no additional risk.

5. Pilot

Pilot Performance

Dedicated BookkeeperCatch-up BookkeepingBill PayInvoicingBank ReconciliationPayrollTax Filing 
YesYesYesYesYesYesYes

Pilot Features

Dedicated bookkeeperMonthly financial reportsAccrual-based accountingA/R and A/PTax management
YesYesYesYesYes

Pilot Pros and Cons

ProsCons
Dedicated bookkeeperBusinesses must use QuickBooks Online
Accrual-based accounting is availableFinancial statements are accrual-basis only
Industry-specific financial reportsFinancial statements are accrual-basis only
Add-ons available for bill pay, invoicing, tax, and CFO servicesPayroll services arenโ€™t available
 Plans must be prepaid annually

Pilot Plans and Pricing

PlansPricing
CoreStart at $599 per month for less than $30,000 in monthly expenses; includes features like dedicated finance expert, financial statements, and support
SelectStart at $849 per month for less than $30,000 in monthly expenses; includes everything in Core plus priority support and expedited books delivery, among others
PlusCustom pricing; best for large businesses with complex needs

Expert advice on Pilot

The pilot is the leading provider of accounting, tax, and online accounting service for small businesses. It announced today its latest expansion into the rapidly growing business and financial software market with the launch of Pilot CFO and Pilot Tax.

The two add-on services give clients the opportunity to get additional support when they need it most. Pilot offers not only bookkeeping services but also comprehensive support for rapidly growing businesses.

Companies that are looking for CFO and/or tax services will benefit from Pilot CFO and Pilot Tax, two add-on services

Our team is composed of experienced professionals in finance and accounting, with over 130 years of combined experience.

We’ve helped companies of all sizes and types in developing countries, as well as in the United States, Canada, and throughout the world.

FAQ

1. How much does a virtual bookkeeper cost?

Virtual bookkeeping services are a cost-efficient and time-saving way to run your business.

With the cost of hiring an in-house bookkeeper ranging from $50,000 to $100,000 on average, the $200 to $400 per month that virtual bookkeeping services cost to run your business is a huge saving.

2. What is the simplest bookkeeping software?

The accounting industry is a tough one. If you don’t know anything about the industry and want to start a business, it can be difficult to navigate the obstacle course.

With such a complicated industry, it’s hard to find a software program that’s easy to use and affordable. FreshBooks is one of the easiest accounting software to use and is available for a low price.

3. How do I do the bookkeeping for a small company?

It is important to keep records of every payment made in order to collect important information. You should also decide how you want to keep records of your financial transactions.

There are four main ways in which you can keep records: paper-based, online, digital, and virtual. The main advantage of online and digital methods is that you can access your records from anywhere and anytime.

The main disadvantage is that you might need to invest in software or hardware. You will also need to make a decision on the format you want your records in.

4. How many hours should a client’s bookkeeping take?

As the owner of a small business, you may be wondering what your average client will take up your time. The truth is, it really depends.

Some clients may only require a few hours of your time, while others may require a lot more. Business owners should take the time to figure out their average clientโ€™s hourly and monthly costs so that they can accurately plan out their income goals.

From there, you can multiply those hours by the number of clients you would need in each category to satisfy your income goals.

Although it is presumed a small client will take 5 hours a month, a medium client will take around 10 to 12 hours and a larger client will probably take 20 hours a month.

5. Can I use Excel for bookkeeping?

Bookkeeping can be a difficult task and it can become even more difficult when you are running a small business.

Itโ€™s important to keep track of your finances so that you can grow your business and make sure that you are staying within a budget. There are helpful Excel features that can make bookkeeping easier for you.

You can enter and categorize transactions through Excel, create various bookkeeping templates, track invoices, and much more.

Evaluating your business and creating a bookkeeping system for it can be confusing and overwhelming, but with the help of Excel, you can create a system that works for your needs and helps you keep track of your business.

You may also like How to provide cloud services for your Business

Conclusion

We hope you enjoyed our blog about how to find the best accounting service for small business.

Many small business owners still need to run their businesses from home, but they no longer want to spend a ton of time on accounting. We hope our blog was able to help you find a service that will help you get your accounting done without breaking the bank.

If you like, please don’t hesitate to comment and share. Thank you for reading, we would love to hear from you!