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.

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Accounting is a necessary component of most businesses. It is a process of recording a business’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 services	Best	Pricing
Bookkeeper360	Best overall.	$349 per month and up.
Bench Accounting	Best for new businesses.	$249 per month (when billed annually) and up.
QuickBooks Live Bookkeeping	Best for QuickBooks users.	$200 per month and up, plus $500 for the first month of onboarding.
Merritt Bookkeeping	Best for businesses on a budget.	$190 per month
Pilot	Best for fast-growing startups.	$599 per month (when billed annually) and up

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

Bookkeeper360:Best Performance

Dedicated Bookkeeper	Catch-up Bookkeeping	Bill Pay	Invoicing	Bank Reconciliation	Payroll	Tax Filing roll
YES		YES		YES	YES	YES

Bookkeeper.com Features

Dedicated bookkeeper and account manager	Monthly financial statements	Free advice	Software setup	Payroll and tax preparation add-ons
YES	YES	YES	YES	YES

Bookkeeper.com Pros and Cons

PROS	CONS
All-in-one bookkeeping, tax, and consulting solution	No mobile app is available
Specializes in QuickBooks Online	High monthly service fee
Dedicated bookkeeper	Lack of transparent pricing with add-on services like tax preparation
Payroll is available for an additional fee	Must pay for features that you may not need
A secure online network that protects your financial data	No free trial is available

Bookkeeper.com Plans and Pricing

Plans	Pricing
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, it’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, you’ll be able to access your tax documents online anytime and anywhere.

Bookkeeper.com is one of the best online accounting services for small businesses. 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 Bookkeeper	Catch-up Bookkeeping	Bill Pay	Invoicing	Bank Reconciliation	Payroll	Tax Filing
Yes	Yes			Yes		Yes

Bench Features

Dedicated bookkeeper	Financial statements	Catch-up bookkeeping	Tax assistance	Payroll integration
Yes	Yes	Yes	Yes	Yes

Bench Pros and Cons

Pros	Cons
Supports unlimited users	Bench operates on proprietary software that doesn’t integrate with other accounting software like QuickBooks
Catch-up bookkeeping services are available	No mobile app for Android
Affordable plans include annual income tax return	Separate 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

Plans	Pricing
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. It’s a solution that’s designed to help businesses manage their finances easily, quickly, and affordably. It’s a tool that’s easy to use and powerful.

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

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

As one of the best overall online accounting services for small businesses, 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 Bookkeeper	Catch-up Bookkeeping	Bill Pay	Invoicing	Bank Reconciliation	Payroll	Tax Filing
Yes	Yes	Yes	Yes	Yes	Yes	Yes

QuickBooks Live Bookkeeping Features

Dedicated bookkeeper	Real-time access	Customized setup	Payroll add-on
Yes	Yes	Yes	Yes

QuickBooks Live Bookkeeping Pros and Cons

Pros	Cons
Dedicated bookkeeper	Requires a separate subscription to QuickBooks Online
Monthly financial reports	Doesn’t include bill payments, invoicing clients, accounts receivable (A/R), or accounts payable (A/P)
No contract required	Financial and tax advice isn’t available
100% Accurate Books Guarantee	Accrual method accounting isn’t supported and Inventory management isn’t included

QuickBooks Plans and Pricing

Plans	Pricing
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 Bookkeeper	Catch-up Bookkeeping	Bill Pay	Invoicing	Bank Reconciliation	Payroll	Tax Filing
	Yes			Yes

Merritt Bookkeeping Features

Dedicated account manager	Intuitive user interface	Monthly financial reports	1099 filing	90-day money-back guarantee
Yes	Yes	Yes	Yes	Yes

Merritt Bookkeeping Pros and Cons

Pros	Cons
100% money-back guarantee if you’re not satisfied with services	Accrual basis accounting is not available
Catch-up bookkeeping available for an additional fee	No personal access to your QuickBooks files
Budget-friendly, flat-rate pricing with no setup charges	Only basic bookkeeping services are offered—doesn’t include payroll, tax, or invoicing
Quick setup and initiation process

Merritt Bookkeeping Plans and Pricing

Plans	Prices
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 businesses 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 Bookkeeper	Catch-up Bookkeeping	Bill Pay	Invoicing	Bank Reconciliation	Payroll	Tax Filing
Yes	Yes	Yes	Yes	Yes	Yes	Yes

Pilot Features

Dedicated bookkeeper	Monthly financial reports	Accrual-based accounting	A/R and A/P	Tax management
Yes	Yes	Yes	Yes	Yes

Pilot Pros and Cons

Pros	Cons
Dedicated bookkeeper	Businesses must use QuickBooks Online
Accrual-based accounting is available	Financial statements are accrual-basis only
Industry-specific financial reports	Financial statements are accrual-basis only
Add-ons available for bill pay, invoicing, tax, and CFO services	Payroll services aren’t available
	Plans must be prepaid annually

Pilot Plans and Pricing

Plans	Pricing
Core	Start at $599 per month for less than $30,000 in monthly expenses; includes features like dedicated finance expert, financial statements, and support
Select	Start 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
Plus	Custom pricing; best for large businesses with complex needs

Expert advice on Pilot

The pilot is the leading provider of accounting, tax, and online accounting services 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 client’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.

It’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.

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Conclusion

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

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!