The Best Online Business Accounting Software

Book a demo today to see what running your business is like with Bench. In addition, you’ll need a subscription to Wave Accounting, which is free for one user and $16 a month for unlimited users. To learn more, read our review of Wave Accounting, which is linked above. Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes. The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and information with full editorial independence.

If you’re seeking a low-cost service that also offers strong customer support, QuickBooks Live is an excellent option. However, while your financial statements are sent to you monthly, your bookkeeper won’t pay bills, send invoices, manage inventory, and provide financial advice. If this is important to your business, we suggest Bookkeeper360, which aced our bookkeeping services category.

Advance Your Business with Double-Entry Accounting on FreshBooks

The provider also took a hit in our personal bookkeeper category because it doesn’t provide a phone number to call, although you can request a callback. It also lacks a mobile app that you can use for communicating with your bookkeeper, so we deducted points there as well. Brainy Advisors bases its fees on your company’s expenses, complexity, number of transactions, and needs. There are no onboarding or signup fees, and you can cancel your subscription anytime. In addition, we employ a comprehensive editorial process that involves expert writers. This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations.

This service usually carries an additional fee, so it’s important to price out your catch-up bookkeeping costs while searching for a bookkeeping service. Online bookkeeping providers often offer a range of add-ons designed to address specific needs like payroll and invoicing clients. Others offer more high-level CFO advice or provide tax return preparation in addition to bookkeeping services. The best online bookkeeping service should offer a wide range of bookkeeping solutions, including catch-up bookkeeping, invoicing, bill membership dues definition and meaning pay, bank reconciliation, payroll, and tax filing. Additionally, it is limited in the bookkeeping services it offers, so we couldn’t award a higher mark as it lacks invoicing and bill pay services. You also don’t have access to full-service payroll or the ability to customize a service plan.

1. The decision comes down to whether the time saved is worth the expense.
2. Merritt Bookkeeping also lacks tax or consulting services but will work directly with your tax accountant to provide them with the necessary information to file your return.
3. Online bookkeeping services can save business owners both time and money.
4. Wave’s smart dashboard organizes your income, expenses, payments, and invoices.
5. Connect with experts year-round for advice and guidance, with best-in-class tools to support you as your business grows.

However, if you want more advanced reporting and a more robust mobile experience, you’re better off looking at other solutions on this list. Billy/Sunrise also got some bad reps for its choices regarding customer loyalty when it was acquired. Custom plans make it difficult to predict exactly how much you’ll pay per month. No cap on meetings with your bookkeeper; QuickBooks says small-business owners usually schedule one or two video appointments per month.

Best for Bookkeeping Services By the Hour

Bookkeepers will usually prepare relevant records and tax documents, and then forward this information to an accountant, who will then prepare the actual tax return. InDinero offers monthly, quarterly, and annual pricing but differs from the rest on our list because you have to talk to a salesperson to get an actual price. 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. Unfortunately, if flexibility is what you’re looking for, Merritt Bookkeeping may not be for you since you can only import data from QuickBooks Online. If you’re looking for something very cheap and simple and your business is in its very early stages, the affordability of Merritt Bookkeeping makes it a good choice. A year end package with everything you need to file comes standard with Bench.

Frequently Asked Questions

Intuit reserves the right to change these hours without notice. Terms, conditions, pricing, service, support options, and support team members are subject to change without notice. When comparing services, ensure you’re pricing out all the features you need, including add-on services like tax prep, payroll and HR. If you’re considering a bookkeeping service that runs on QuickBooks or Xero, include the cost of that software, too. Take advantage of product demos and introductory calls to find the right service. Lots of bookkeeping services are built to run on QuickBooks, an industry leader in accounting and bookkeeping software.

Connect With Industry Leading AppsTo Level Up Your Accounting

This can help you save time and make financial decisions quickly. It’s common for owners of small businesses to attempt bookkeeping on their own, but it’s easy for bookkeeping to become an afterthought until tax time approaches. Choosing the right bookkeeping services for your small business will also free up time for you to focus on your company, easing a lot of stress. Ultimately, it can benefit your business by freeing up your time and ensuring your books are up to date. This puts your business in a solid position come tax time and helps you keep a finger on the pulse of its financial state.