Here’s a list of our top online bookkeeping services for small businesses.
Online bookkeeping services are companies that handle all your financial bookkeeping for you. Bookkeeping companies handle your transactions, make sure your finances are monitored, and prepare your financial statements to help you stay on budget. These companies are also known as “virtual bookkeeping services.”
This article covers:
- What do online bookkeeping services do?
- The best online bookkeeping services by location
- How to pick the best online bookkeeping service for your small business
Let’s get to it!
List of online bookkeeping services
Here are some of the best online bookkeepers that you can hire to help with your business finances.
1. Rigits.com
Price: Not mentioned on the website, although they do say you will pay a flat monthly fee
One of the hardest things that any small bookkeeping company has to deal with is organization. Even if they have a good bookkeeping process, it can get out of hand very quickly with all the excel sheets, word documents, and all the numbers and names you need to have memorized to keep your accounts afloat.
However, Rigits Bookkeeping and Accounting takes a holistic approach to the process of your books, focusing on every area of your business to keep things balanced. They work to file your tax returns, reconcile your accounts and even prepare your financial statements for you.
Plus, alongside their bookkeeping services they offer several more accounting related services, such as a job profitability tracker, management of your accounts receivable, and the management of your credit cards.
Additionally, if you are using Quickbooks, they perfectly match your bank account with your Quickbooks account, and can even clean up all your Quickbooks files. Rigits.com does all this for a small monthly fee, and you will be able to communicate with them whenever you have questions. Otherwise, you can rest assured that the books of your business are all in good hands!
Visit Rigits: https://rigits.com/
2. Bench: Online Bookkeeping with Real Human Support
Price: $299 per month for the Essential plan, $499 per month for the Premium plan.
One of the key elements that some people miss when it comes to online bookkeeping is actually working with a real person to help them and answer questions. Thankfully, Bench offers human support along with automated bookkeeping. Once you sign up for a plan, your books are taken over by a team of professional bookkeepers who take on most aspects of your financial work, although both plans give you access to speak to your bookkeeper whenever you want.
In the essential plan, you get monthly bookkeeping done by a professional team, and have your financial statements prepped and ready for the tax season. If you buy the premium plan, then you have the essential plan, plus unlimited advisory services, tax strategy planning sessions, and annual tax filing services.
No matter what plan you end up grabbing, if you want to put your bookkeeping and taxes to a whole new level then Bench is perfect for you!. The only major con is that Bench has no integration with any other tax account software, so if you want to upgrade and move to a different account in the future, it will be difficult to do so.
Visit Bench: https://bench.co
3. QuickBooks Live
Price: $500 for the first onboarding month. The price changes depending on your monthly expenses after that, $200 a month for $25,000 or less in expenses, $400 per month for $25,001-$150,000 in monthly expenses, and $600 for anything higher than $150,001.
QuickBooks is easily one of the most recognizable names on the list, and you’ve probably seen the brand’s advertising. Quickbooks Live integrates smoothly with other Quickbooks services, and you will need a Quickbooks Online subscription to take advantage of the live service. You will get catch-up bookkeeping for your last business tax return during the onboarding month, and can also request that multiple bookkeepers look over your books for free if you suspect errors have been made.
You can see all of your integrated information in real time, and can speak to your bookkeepers online through video chat. One negative with QuickBooks Live is that your bookkeepers are not able to help with tax filing or planning, and can’t send invoices. If you are already using Quickbooks anyway for your taxes, then you might benefit from having access to your bookkeepers. Otherwise, QuickBooks Live might not be the best service for a newer business.
Visit QuickBooks Live: https://quickbooks.intuit.com/live/
4. Pilot
Price: $599 a month for the Core service, which includes basic bookkeeping and monthly reports. For $849 a month, you get Pro service, which allows you to have monthly phone reviews. Additionally, custom pricing is available for bigger businesses, and for companies with pre-revenue, there is a $200 per month discount.
If you are a startup and pre-revenue small business, then Pilot might be the best virtual bookkeeping service for you. The company offers generous discounts, and has burn rates with their financial statements. Additionally, Pilot is able to integrate with various services, including QuickBooks. Now, it does have some niche features that aren’t going to be the best for everyone, including extra financial support options.
If you are in a position to take advantage of what they are offering, you might want to go for it. Pilot could help you solve your unique problems in a fast and easy way.
The service also has very accurate bookkeeping and easy to understand reports. So, if you want a professional service that is also simple for you to fully understand, then Pilot may be the best option for you.
Visit Pilot: https://pilot.com
5. Bookkeeper.com
Price: The company has a subscription based list for their website, depending on the number of transactions you use. For 100 transactions, Bookkeeper.com chargers $399 a month. For 200 transactions, they charge $599 per month. For 300, they charge $799 a month, and if you go over 300, the company creates a custom billing plan for you.
Bookkeeper is the perfect online bookkeeping service for small businesses because it is full-service. Whether you need bookkeeping, help with your taxes, or help with consulting, Bookkeeper will give it to you. You will also have access to a dedicated bookkeeper who is certified in QuickBooks Pro, and they will work to make your bookkeeping seamless. You will also get free advice, done for you software, monthly financial statements, and the ability to add on payroll and tax preparation for another fee.
Every part of Bookkeeper.com is handled by experts, so you can rest assured that your finances are well handled. The company will help you with your accounts, your taxes, and your financial reports, and you will be able to speak to your bookkeeper at any point.
Plus, it can grow with you as the number of transactions you make increases, which is great if you want to grow your small business and not change your online bookkeeping. The addition of the custom billing plan for more than 300 transactions will even keep you working with Bookkeeper even if you stop being a small business!
Visit Bookkeeper.com: https://bookkeeper.com
6. Bookkeeper360
Price: The company has three tiers of subscription. First, a pay as you go that starts at $19 a month, and $125 per hour support. The second is $399 per month with support at the same price, and the third is $549 per month with support included.
If you use Xero bookkeeping software, you will be pleased to know that Bookkeeper360 integrates seamlessly with it, and you are able to work with dedicated and professional bookkeepers to control your finances. One of the features that Bookkeepers integration with Xero provides is a mobile app that seamlessly connects the two, allowing you to see all the valuable information.
You can also gain various other services, from CFO advisory to Payroll solutions to Accrual based accounting, all from Bookkeeper 360. Everything with this service is designed to be streamlined and easy for you to have access to all of your finances and to then leave it all in someone else’s hands.
Visit Bookkeeper360: https://bookkeeper360.com
7. Merritt Bookkeeping
Price: A flat rate of $190 per month, perfect for small businesses on a budget! This price does not change with the growth of your business or the number of employees you hire.
If you are looking for online bookkeeping services but are on a tight budget, give Merritt Bookkeeping a try. For just under $200 a month, you will be able to take advantage of the services this website offers. These services include 1099 flying, monthly financial reports, integration with Quickbooks, and even a 90 day money back guarantee.
However, you don’t get access to your own bookkeeper, and no tax, payroll, or invoicing services are available. So while Merritt Bookkeeping is very cheap, it is also very basic. If you are a small business that is just starting out, then it might be a good place for you to learn about online bookkeeping, but there’s a real chance you will end up outgrowing it.
Visit Merritt Bookkeeping: https://merrittbookkeeping.com
8. Block Advisors
Price: Block Advisors offers two layers of pricing for both tax filing and bookkeeping, depending on if you want to do the work yourself or get full service. Tax filing at the basic level is $145 and you must be self employed. Bookkeeping by yourself goes at $50 per month. Tax filing full service costs $180, and bookkeeping full-service is $150 per month.
If you are already using H&R block, then it’s good to know that Block Advisors is a branch of H&R block! This bookkeeping service gives you personalized service and year-round support, and you also have a maximum refund guarantee. Block advisors offer both basic and full support, depending on the experience level and needs of your small business.
The Starter Plans give you an accounting pro who helps you create an action plan for your business. The pro will focus on your transactions and accounts, getting them all cataloged for when taxes roll around. If you work with the Full-Service plans, they can get you your P&L and balance sheets.
Finally, Block Advisors are specialized in handling small businesses and can handle everything with you and for you. You can fully or partially hand everything off to them, and rest assured knowing that the experts have your bookkeeping well in hand.
Visit Block Advisors: https://www.blockadvisors.com
Final Thoughts
Handling your bookkeeping, especially as a small business, can be very nerve wracking and confusing. If you would rather hand this work off to someone who knows what they are doing and can focus on getting your bookkeeping and taxes done right, then you should work with one of these great online bookkeeping companies!
Next, check out this list of the best online bookkeeping courses.
FAQ: Online Bookkeeping Services
Here are some common questions and answers about online bookkeeping services for small businesses.
Should I Be Double Checking The Books?
With the entire ‘hand the entire bookkeeping process over’ mentality that most online bookkeeping services have, how hands off do you have to be? While we aren’t recommending that you look over your bookkeeper’s shoulder for everything, when tax season or other big events happen for your business, double checking can help you.
The main reason anyone would want to double check their books is to catch mistakes before they happen. Sometimes deposits don’t show up if you are adding them to Quickbooks, entries are double recorded by mistake, or some accounts are reconciled. While all of the online bookkeeping services we recommend haven’t made these mistakes, it can still give you peace of mind to see your corrected books with your own eyes.
Double checking your books during tax season, whenever a large financial change has happened, or whenever you are just starting out with a new online bookkeeping service is understandable. Otherwise, you can eventually be content that the service you’ve chosen will handle everything without you checking everything twice!
Why Should I Use Online Bookkeeping?
For small business owners, working on their business can be a massive undertaking. A small business owner often doesn’t have a lot of time to sit down and record every single time money flows in and out of their business. Plus, with the advent of all the online technology, it’s both easier and harder than ever to manage all your money if you are trying to run your small business.
So if you don’t want to spend hours going over your books, then you should focus on hiring a bookkeeping service to do it all for you. If you hire the right service they will also have some idea of how to manage everything related to money in your small business. These services include taxes, payroll forms, and other items that you won’t need to worry about.
Additionally, it can also be a relief to have professional online bookkeepers who know what they are talking about on call. Regardless of the bookkeeping service, you will have access to a bookkeeping professional that you can talk to, and they can answer any questions that you have. That way, you can get back to your business without having to panic about unanswered bookkeeping or money questions.
Do I Need Online or Virtual Bookkeeping?
Online bookkeepers are designed to work on your small business, and they often receive training and support by trained bookkeepers. Additionally, online bookkeeping services for your small business are able to provide a structured service and detailed reports every single month.
If your small business is opening bank accounts, bringing in money from several sources, and also sending out money, you need to keep track of that. While some business owners do it themselves, others rely on trained virtual bookkeeping services to make sure everything matches up.
Needing online bookkeeping depends on how much time you want to put into your bookkeeping services, and if you decide they are better off handed to someone else. But in most cases they are very helpful to have for any small business.
How Do I Pick An Online Bookkeeping Service?
If you need help with picking an online bookkeeping service, then first figure out what it is your small business needs. Do you need an expert to help you out? Someone to record all the data so you don’t have to? Help with Tax forms and payroll? Or maybe just a business that will grow with you.
Consider your needs as well as your budget, and then start looking for online bookkeeping services that will meet your needs and will take the pressure off of your shoulders. Don’t be afraid to talk to your potential bookkeepers as well, and ask them questions.
You might want to know if they are able to do the services you need them to do, or if they offer a certain benefit or discount. Having a conversation before you hire is often the best thing to do to find the perfect service for your small business needs.
